CRYPTOCURRENCY and NFTS EXPLAINED
ABOUT CRYPTOCURRENCY
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What is Cryptocurrency! Digital Money…
What’s Digital money? Just like in your real world bank except you can’t hold it. It is protected by multiple ledgers and is highly secure in what is called a block chain. BTW you bank has only one ledger!
Can I buy stuff with it? Currently a few things. More and more places will be excepting it. You can also convert it back to RWC (real world currency… dollars, pounds ect.) through your crypto exchanges.
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Why am I doing this anyway? Well people can make money at it and it’s easier to get into than the stock market. You will also need cryptocurrency to buy NFT's.
How many crypto currencies are there? Hundreds just like there are hundreds of RWCs and stocks.
How do I know which ones to buy? Just like stocks you need to do your research, but the main ones are BitCoin and Ethereum and just like stocks they go up and down. Ethereum is used mostly in the purchase of NFTs.… Whats an NFT?… that comes later. You can find a list of these cryptocurrencies on exchanges like Coinbase.
Where can I buy cryptocurrency? There are many online cryptocurrency exchanges. The main ones being Coinbase and Uphold.
How do I buy some? Just got online to one of the cryptocurrency exchange of your choice and set up an account. You can do it right from you desk.
What do I need? You will need your bank routing number, a drivers licence… a computer that has an on board camera and your personal info. You actually hold your drivers license up to your computer so it can take a picture… crazy world!
Then What? Once you have input all the information it takes a few hours to a day for them to verify you. Once verified you can transfer money from you bank into your cryptocurrency account. The amount is up to you. We suggest you start small. A few hundred. Pick a cryptocurrency and buy some.
I saw that BitCoin (BTC) is going for $21,000. How can I afford that? You don’t have to buy a whole BitCoin! Thats the beauty of it… Just buy what you can afford. A small percentage is fine to start!
I saw the price of Bitcoin go up and down in just a few minutes? Yep… crypto should be considered more like a stock… up and down!
Looks like I can make money at this right? You can also loose money, so watch what you spend!
Some other terms coming up you should know about, “Wallet”, NFT (Non fungible tokens.) Thats what this site is about… NFTs!!! We sell them!
But for now this is enough to get started. You will need this first before you can purchase NFTs…
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"Side Bar" Folks!
"Side Bar" Folks!
10 Major Companies That Accept Bitcoin a cryptocurrency
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Microsoft. Microsoft became an early adopter of Bitcoin in 2014 when it began accepting the cryptocurrency as payment for games, apps and other digital content for platforms like Windows Phone and Xbox. ...
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PayPal. ...
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Overstock. ...
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Whole Foods. ...
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Etsy. ...
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Starbucks. ...
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Newegg. ...
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Home Depot.
Cryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions.
A blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
"Side Bar" Folks!
MINTING is a type of digital certificate built on a blockchain -- usually Ethereum (CRYPTO: ETH) that guarantees ownership of a unique digital asset. Minting digital assets (everything from art to music to articles) as NFTs is one way for artists to monetize their work.
GAS FEES are fees you will you pay when buying or minting NFT. There no gas fees where we mint and sell our NFTs. We use OpenSea and the Polygon chain to manage and sell.
Gas fees have nothing to do with liquid fuel consumption or the impact of mining on the environment. Rather, it is the reward given to miners for putting transactions in the blockchain or executing them.
An NFT DROP is the release of a NFT project. A drop refers to the exact date, time, and generally the price of the NFT IN CRYPTOCURRENCY. Many NFT drops have purchase limits that apply to the number of NFTs you are able to mint in one transaction..
What is an NFT (Non Fungible Token?)
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NFT… Non Fungible Token.
Fungible: I give you a 1 dollar bill and you give me 4 quarters… You give me $5 in casino chips and I give you a $5 dollar bill. Equal exchange for equal value items. Fungible!
Non Fungible: Something that is unique and can’t be replaced, copied, substituted, or subdivided like goods and assets that are not interchangeable, such as owned cars and houses. I give you my beat up car for your beach house… not an equal and fair exchange! Non Fungible!
NON FUNGIBLE TOKEN: A non fungible token (NFT) is a unique digital asset that represents real-world and digital items like art, video clips, music, and more but are digitizes and secured as a unique item on a block chain. NFTs use the same blockchain technology that powers cryptocurrencies but they're not a currency.
Who creates an NFT: Individual artists, groups, musicians and other holders of real world and digital assets can “Mint” or create their own NFT thus securing it in a block chain for ever as a unique one of a kind digital asset thus making it rare. As the owner of this NFT (minted item) they have complete control as to the disposition of the product.
Here is an example: Take the real Mona Lisa and digitize it... make it into pixels on a computer. You now have a digital file of the art. You can then take this digital file to a platform where you can "Mint" it. This makes it an NFT. Because it is minted and is now highly secure as a one of a kind digital item it becomes rare. You can now sell it! You sell it on an NFT marketplace just like you would sell an item on ebay. Once sold the buyer now has all the rights to do as they wish with it. You conveyed ownership and all of rights to the new owner.
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Yah I know... can't someone just screen shot it and print it. Sure! But you can do the same with the Mona Lisa!
Enter the NFT art marketplace…
For the first time digital artists, artists have a venue where they can be rewarded financially for their talent and efforts. An artist can now “Mint” their own art and upload it to an NFT marketplace to sell such as OpenSea, Rarible and Nifty Gateway. There are others.
LINKS to NFT MARKETPLACES: Magic Eden Opensea Rarible Nifty Gateway
In in the last year and half the market has exploded starting with the Sotheby's auction of one digital NFT for over 60 million dollars! That’s a single .jpg folks. But then again what's a Mona Lisa but some paint and canvas!
Not only has the market exploded so has the number of non-artists trying to cash in on this opportunity. Our estimation is that about 90% of the folks minting NFT have never created anything artistic in their lives. Thats the bad news. So as a collector-buyer it vary easy to see good content from bad… that’s the good news. Look for good art from real artists!
Why collect an NFT? Why buy a rare baseball card or a Pokemon card or the Mona Lisa. Pride of ownership! Collectibility! Resale! Yes resale. Some NFT that were bought for a few dollars have resold for thousands! It has made some folks very rich!
Well that’s kinda it in a nutshell. Here we sell great art from real artists and animations as NFTs. But not on this site… we only show it. We direct you to where you can buy it!
HOW TO BUY AN NFT
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OK! How do I buy an NFT. First of all you need to have some crypto currency! In the first section above we walk you through the process. Ethereum is the cryptocurrency that is used by most NFT marketplaces so we suggest you have some in your cryptocurrency exchange account… Coinbase, Uphold or whichever exchange you signed up to buy your crypto through.
Next you will need a “wallet”… yep a wallet. Not the kind you put in your purse or pocket but it has the same function... virtually! They're electronic versions of your physical wallet.
MetaMask is the wallet most people use. Once you have you cryptocurrency in an account and have "funded" your wallet (transferred crypto into it) you are ready to hunt for your gem NFT and start the bidding. Navigate to one of the NFT marketplaces listed and linked above, and start shopping!
There are many wallets but we are not going to explain how to sign up for one…We are going to let a YouTube person explain it. So below are 2 youtube links that should get you up to speed on how to buy NFTs. We suggest you do your own research after. Have fun and enjoy the world of NFTs!
One note! If you sign up for MetaMask or any crypto wallet, make sure you keep your recovery phrases in multiple safe places. They give you unique phrases when you sign up. If for some reason you get locked out of your wallet and are asked for your recovery phrases and can’t find them you will have zero access to everything in you wallet until you can find them!
MetaMask: https://www.youtube.com/watch?v=tw-tQD0jztE
Invest in NFT’s: https://www.youtube.com/watch?v=pJFQeF9vV1I
DISCLAIMER: We are not licensed financial advisors and are in no way affiliated with the above mentioned online cryptocurrency exchanges or NFT marketplaces. Please practice your own due diligence in looking for the exchange amd marketplaces that fits your needs and invest at your own risk!