How to Set Up Your First Cardano NFT Wallet
One of the first things you’ll need to do if you want to get into Cardano NFTs (CNFTs) is to create a Cardano native wallet. Also known as a Shelley wallet.
There are several options currently available e.g. Nami, Eternl, Gero, Flint, and Daedalus to name a few. The degree of choice can become confusing.
But so this post doesn’t become too long I’m only going to focus on two of the most popular wallets.
Both of these are software (“hot”) wallets as opposed to hardware (“cold”) wallets. I’ll explain a little about hardware wallets towards the end. But I will save this topic in detail for a separate article.
Nami Wallet — Easy to set up and simple UI (best for beginners)
Nami is one of the most popular wallets out there. It’s easy to see why. If you’re familiar with MetaMask (on Ethereum) then think of Nami as the Cardano version. If you’ve never heard of MetaMask then ignore that last sentence.
Nami operates as a simple browser extension. It allows you to do all the basics such as:
- Storing your Cardano (ADA)
- Storing your CNFTs
- Sending and receiving both of the above
Here is a screenshot of what it looks like.
Nami also enables you to stake your ADA to a Cardano staking pool. (Don’t worry if you don’t know what that is yet; more on that in a later article).
I would say Nami is the best place to start for a first wallet. It’s very easy to set up and the interface won’t be overwhelming for a beginner.
One key drawback of Nami is that it is only available in your browser. There is no mobile option. This can be a pain if you want to send or mint CNFTs on the go. But it is still a great wallet.
But, there are other options available…
Eternl — High functionality wallet (your next step)
Eternl is another very popular wallet in CNFTs. Like Nami it too has a browser-based extension. But Eternl has the extra benefit of having a mobile application available too.
The real benefit of Eternl is that it has a ton of functionality and richness. It provides you with a lot more data on your transactions. It also has more configuration options and provides better ease of staking your ADA.
The Eternl team continue to build and innovate the product and frequently adds new functionality. This contrast with Nami which has not changed much in the last year or so.
Eternl’s extra functionality does come with a cost. The user interface is a little trickier to navigate than Nami at first. Whilst you will get used to it, it can be a little overwhelming at the start.
Nowadays, Eternl is my go-to option. But I would still recommend starting with Nami until you are comfortable with the basics of CNFTs.
Flint Wallet — some cool functionality, particularly for mobile
Flint is a less commonly used wallet. However, I thought it worth a brief mention as it does provide some interesting functionality.
Like Eternl, Flint has mobile and browser options. Like Nami, the Flint user interface is pretty easy to get to grips with.
One of the main differentiators of Flint is that it lets you hold other cryptos other than Cardano. Such as Ethereum or Solana.
Flint also has great compatibility with dApps (Decentralised Applications) on its mobile app browser. This can be very useful when trying to do certain tasks (such as minting NFTs) whilst on the go.
If you’re not sure what a dApp is yet then don’t worry. Again, we’ll get to that in a later article. Suffice it to know that there may be times in the future when Flint may come in handy…
Setting up your first Cardano wallet
Once you’ve decided on an option, you’ll need to set it up for the first time.
Whilst all these wallets have some minor differences in how they are set up, in the main, you will need to:
- Install the browser extension and/or mobile app on your device
- Select the option to “create a new wallet” (NB: you can have many wallets (or accounts) within the same app.
- Write down a 24-word seed phrase presented to you. It is very important to never share this with anyone.
- Confirm back some / all elements of the above seed phrase.
- Select a (strong) password to use with the wallet on a day-to-day basis.
A quick word on your seed phrase
It is super important that you keep your 24-word seed phrase safe and never it with anyone. You may need your seed phrase in the future to recover your wallet should you forget your password or lose access to it. But anyone else with that seed phrase can also do the same and run away with your ADA and NFTs.
You shouldn’t store your seed phrase anywhere electronic or take a photo/screenshot of it. A good practice is to write it down and keep it somewhere physically safe offline. Some people even etch them onto metal plates and store them in a fireproof container, or a safe. Or all of those things…
So, what about hardware wallets?
One key omission here is hardware (sometimes called “cold”) wallets. I’ve purposely not gone deep on them right now in the interest of keeping the article length down.
However, know that should you want extra security there are two main options — Ledger and Trezor. Both are compatible with the likes of Nami and Eternl. So if you start with one of those, you can add a Ledger or Trezor later without changing the user experience too much.
If you’re going to get serious about CNFTs then I definitely recommend you get a hardware wallet at some point. More on that in a future post.
In summary (TLDR):
To conclude:
- You’ll need a native Cardano “Shelley” wallet to hold and trade CNFTs (and your ADA).
- Nami is a great starter wallet with a simple browser extension-based user interface.
- Eternl is another great option and my personal favourite. It offers browser-based and mobile options. It also has more powerful functionality than Nami.
- Keep your 24-word seed phrase safe and never share it with anyone!
- If you get serious about CNFTs, you should consider getting a hardware wallet for greater security (Ledger or Trezor).
If you want to access my other content about getting started in CNFTs then head over here.
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This article is for informational purposes only. It should not be considered Financial or Legal Advice.
