How to buy a tokenized stock: exchanges, wallets and chains
· StockAPY
Two ways to get a tokenized stock, an exchange account or your own wallet, and why the blockchain it lives on decides which yield opportunities you can use.
There are two routes. Which one you need depends on what you want to do with the token afterwards.
Route 1: an exchange or app account
Some crypto exchanges and broker apps list tokenized stocks next to their other assets. You sign up, pass the usual identity checks, deposit money and buy, much like a broker.
- Good for: buying and holding, and any rate the platform itself pays inside its account.
- Limit: the tokens sit in the platform's custody. To use them anywhere else, you have to withdraw them to your own wallet (Route 2).
Route 2: your own wallet
A wallet is an app that holds the keys to your tokens. With a self-custody wallet, nobody else can move your assets, and nobody can recover them if you lose your recovery phrase. Treat that phrase like the only key to a safe.
The steps are:
- Install a wallet for the right blockchain. Wallets are built for one family of chains or several. Check that yours supports the chain the token lives on.
- Fund it. Buy a stablecoin (a dollar token, such as USDC) on an exchange and withdraw it to your wallet. Also hold a small amount of the chain's own coin to pay network fees.
- Swap for the stock token on a decentralised exchange, or withdraw stock tokens you already bought on an exchange.
- Check the contract address. Anyone can create a token called "NVDA". Only buy the one whose address matches the issuer's published address. Every stock page on this site lists only tokens whose address we have verified against the issuer.
- Good for: every opportunity on this site: lending pools, trading pools and borrowing.
The chain decides where you can go
Each tokenized stock lives on a specific blockchain: Ethereum, Solana, Base, BNB Chain, Robinhood Chain and others. Platforms only accept tokens on the chains they run on. So before you buy, decide what you want to do with the token, and buy it on that chain.
Every row on the Lend, Market-make and Borrow pages shows its chain. The stock pages group every token and market for one company.
Costs to expect
- Exchange fees and spreads when you buy.
- Network fees for every transaction from a wallet: usually cents on Solana and Base, more on Ethereum.
- Withdrawal fees when moving tokens off an exchange.
The next lesson compares the risks of holding a token with holding the share at your broker.
Questions
- Where can I buy tokenized stocks?
- Either on a crypto exchange or broker app that lists them, or by swapping for them on a decentralised exchange from your own wallet. Which tokens are offered, and to whom, depends on the issuer and on your country.
- Do I need a crypto wallet to earn yield on a tokenized stock?
- For most of the opportunities on this site, yes. Lending pools, trading pools and borrowing markets on open platforms are used from a wallet you control. A few custodial platforms pay a rate inside their own account instead.
- Why does the blockchain matter?
- Each token lives on one blockchain, and a platform only accepts tokens on the chains it runs on. A token on Solana cannot be deposited on a platform on Base without first being moved across with a bridge.