HOW TO INSTALL ETHEREUM MIST INSTALL
Download and install MetaMask through their website, and follow the instructions. Setting up a crypto wallet may sound daunting, but it’s quick and easy. Once it's installed, it lets you store Ethereum and Ethereum-based tokens (including NFTs). MetaMask is a browser plugin, and it works best with Google Chrome or Brave. But by far the most popular is MetaMask (which, like an editorially independent Decrypt, is funded by Ethereum incubator ConsenSys).
There are many Ethereum wallets out there.
NFT marketplaces like OpenSea work with crypto wallets. Depending on the network conditions (how busy it is), it can be as low as $30 or as high as $300. How much Ethereum will you need? Well, the gas price (as the unit of Ethereum transaction fee’s called) fluctuates massively, so there’s no good answer. You’ll need to pay for what’s called “initialization”-a one-time fee paid in Ethereum to sign up for the platform. By far the biggest one of those is OpenSea, which accounts for 97.8% of all Ethereum NFT trade as of October 2021. To buy and sell NFTs, you'll usually use an NFT marketplace, which are like eBay or Amazon for NFTs. So when you sell and buy NFTs, you’re most likely to use Ethereum.Įthereum is listed on almost all crypto exchanges (it’s the second-largest cryptocurrency after all), so you won’t have trouble buying it. Ethereum, or ETH, is also the name of the native currency of that network. Buy EthereumĮthereum is the blockchain on which the majority of NFTs are built. If you don’t have a cryptocurrency exchange account, here’s a guide to help you make a decision. You need a crypto exchange account because you need to buy Ethereum to pay for the one-off fee of minting NFTs-we’ll explain that in the next section.Īnd hey, if your NFT sells, you may want to cash out your earnings, convert to another cryptocurrency, or do other stuff a crypto exchange lets you do. Crypto exchanges are where you can easily buy and sell cryptocurrencies. The first step in minting your NFT-or doing anything in crypto-is getting a crypto exchange account like Coinbase or Kraken. In this guide, we’ll focus on Ethereum, the most popular blockchain for NFTs, and OpenSea, the most popular NFT marketplace. Minting an NFT-the fancy term for “creating on the blockchain”-is a seamless experience, if you follow these beginner-friendly steps.
Even big brands and celebrities have jumped on the NFT bandwagon-but how do you go about creating a non-fungible token? They’ve shot to prominence in the last year, with multi-million dollar sales of NFT artwork grabbing headlines, while Twitter has been overrun by NFT avatars like Bored Ape Yacht Club, CryptoPunks and Pudgy Penguins. NFTs, or non-fungible tokens, are blockchain-based tokens that prove ownership and provenance of digital items such as images, video files and even physical assets.
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