Colloidal nanomaterials represent an important branch of modem chemistry. However, we have very little understanding of molecular processes that occur at the nanocrystal (NC) surface during synthesis and post-synthetic modifications. Here we show that potentiometry can be used to study the surface of colloidal NCs under realistic reaction conditions. Potentiometric titrations of CdSe and InP nanostructures provide information on the active surface area, the affinity of ligands to the NC surface, and the surface reaction kinetics. These studies can be carried out at different temperatures in polar and nonpolar media for NCs of different sizes and shapes. In situ potentiometry can provide real-time feedback during synthesis of core-shell nanostructures.