Ethereum wallet, Why Are Gas Fees so High_ – NFT Ethereum Edition, how to set up NFT's

Why Are Gas Fees so High? – NFT Ethereum Edition

Hello World,

Apologies again for the late post. I have been meaning to write and update you on my learnings each day but, I am still a 9-5 slave. Quite the contrary from many of the F.I.R.E (Financial independence retire early) community, I enjoy working a 9-5 given that it provides me with opportunity to grow and learn more.

Despite that statement, I am here on the daily to share my views and my journey to financial growth and new trends in the market. Thank you for growing with me on the daily, we are a strong community of 1295 people.

Let us continue our journey learning more about Non fungible tokens NFT’s. As we started last week with the following blog, NFT meaning – Non Fungible Tokens and Best Way to Get Started with NFT Crypto Digital Art. This blog gave you an idea of what NFT’s were and how they worked. NFT’s have been the talk of the town recently and Elon Musk has sold an NFT for 69.3 Million.

I told you all to try creating NFT’s but, I had not taken a stab at it myself. Well, not to worry! I tried all the steps of selling NFT’s this week and I am here to help you get started.

Most are afraid of getting started in the stock market, crypto currency, Bitcoin, and Ethereum. I have been part of that group trust me! I have always been skeptical investing in these markets because, I barely understood the trends, patterns, and the high fluctuations.

After my father passed away, I realized, life is too short, so if you want to try something then do not wait on it. You will never know if you shy away from gathering information on that one task that you feel you are incapable of doing but, you dream about.

How did I get started? I started reading about NFT’s and crypto currency. I started listening to podcasts and watching YouTube tutorials. In the year 2021, you cannot tell me you are too afraid to do something because, you did not have enough information. You are literally one YouTube video away from being successful. Read my posts on how Poor Are Stuck in a Poverty System. This blog is written to help and motivate you with your mindset.

Setting up Crypto – You don’t need this Step for NFT’s!

Fairly simple these days, just go on ShakePay and open an account. ShakePay is a cryptocurrency exchange platform where you can buy and sell Bitcoin and Ethereum. You can ask me questions, so do not be afraid to send feedback or reach out to me.

Why did I choose ShakePay vs. other much popular platforms such as Binanace, CoinBase, etc? Pros of ShakePay is that it is easy set up. I did not have to wait a week for approval. Another point was that it was also lower in fees. The third and last point is if you refer a friend and they deposit $100 dollars to get started then, I unlock the Shake feature which means, I can shake and earn free coins. On to the disadvantages—the platform only allows you to purchase Bitcoin and Ethereum. This is not quite a disadvantage for me as I only want to purchase those two coins.

Here is the link to ShakePay: https://shakepay.me/r/9FCON0E so we can all help each other grow.

Moving on, it is simple to buy Bitcoin and Ethereum. Once you sign up, you Interac the amount you want to deposit to ShakePay. The transfer takes less than 10 minutes. Then you go to Buy / Sell, choose Bitcoin and put in the amount you want to purchase.

After you have bought Bitcoin and or Ethereum then you require a Ledger or a cold wallet. In simple words, this is a secure way to store your coins and is highly recommended. There are various Ledgers in the market, however the one I own is the Ledger Nano S.  

This is an expensive purchase but, it is worth it. You want your wallet address safe. The Ledger takes 30 minutes to set up and to be honest, I just watched YouTube videos to set up my Ledger so it’s not rocket science. Funny part is that I use to think it was rocket science but, once it was purchased, I knew there was no going back!

How to Create your own NFTs

Please go on OpenSea.io, Rariable, CyptoKitties and Mintable App to see what kind of art people are selling. You do not have to be an artist or be like the content creators. You can take a picture of a tree and turn it into an NFT. If you want to get creative then obviously you can use Canva.com. Canva let’s you animate, create videos and a whole lot of other things for free. Take your time and create something that you are happy with or create many, because people like NFT collectables, just like Pokemon Cards!

Setting up your MetaMask

MetaMask (link provided) is a wallet that will help you purchase or sell your art.  You can sign up and buy Ethereum right on the MetaMask Wallets. Then download the Chrome extension to easily connect to the NFT websites for transactions to take place.

Which sites you should sell on?

Out of OpenSea.io, Rariable, CyptoKitties and Mintable App, I would personally suggest Mintable App because, there is no gas fee! Yes, there is gas fee that you need to pay when listing your NFT’s and they are not cheap. The gas fee varies within the day because, they are computing energies that is put into each transaction.

Interestingly enough, you can also add unlockable content to keep the buyer guessing until they have made the purchase.

Here is a picture from MyEtherWallet of how it all functions in the background on the ethereum blockchain.

As I was writing this post, I realized it looks like a lot of steps but really took a week because of my laziness. It could have taken just 2 days if I really put in the effort. All you have to do is go on the NFT marketplaces suggested and click on the create button. You can start creating these non fungible assets very easily and I hope my step by step guide will help you create your first digital asset.

Final product: Call Me Pink

Here is the NFT I created and listed for sale. It was a fun learning process. Let me know if you will be trying it out?!

Love to hear your thoughts and questions!

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