What is blockchain? A blockchain is a network of computers that tracks transactions within its network and generates a giant ledger of who owns what (and how much). That's a lot of beeping action! So if you ignore a friend's well-meaning advice and spend six figures on CryptoPunk, computers around the world will confirm that you are the new owner of the NFT and make sure it stays in your wallet. Blockchains hosting NFTs include: flow Tezos polygon Ethereum Solana
Your physical wallet might contain your money, a form of ID, and maybe a photo of your loved one (we'll ignore the 3-year-old Starbucks card with $1.83 printed on it).
Your crypto wallet does this on the blockchain. It has an "ID" (a long string of numbers and letters), your cryptocurrencies, and any NFTs you buy with those cryptocurrencies. There are many wallet providers, including Metamask (the most popular and easy to use), Fortmatic, Coinbase, and Rainbow, among others.
Never tell this to anyone. Anyone who knows your mnemonic phrase has full access to your wallet and can buy, sell or transfer any funds or assets. Neither idf3 support nor any trusted person or organization will ask you for a mnemonic phrase.
Some wallet connection options on idf3 include MetaMask, Rainbow, Coinbase, Fortmatic, Portis, and more.
When you first create an NFT, you “mint” it with some clicks — which may imply you need to pay a price to the network (none of this is going to IDF3). Fees rely upon the blockchain and minting option. Blockchains rate a price for minting, shopping for and selling. Imagine it like highways on a street trip. Some are loose. Others rate you a toll, which may be reasonably-priced or expensive. Creating a brand new NFT calls for interactions: 1. Minting your NFT 2. Making your NFT to be had for sale As one of the maximum famous blockchains, Ethereum has a tendency to have better charges even as the Flow blockchain is less expensive to mint on. But don’t allow charges be the element—the maximum vital element is minting in which your target target market has their wallets. Those are precise for every chain. Or you may mint without cost instead! Some of the wizards (okay, coders) on our crew found out how you may mint with out purchasing it. If you enable “loose minting”, the purchaser of your NFT covers the charges. Keep in thoughts that charges may marvel lovers who are attempting to shop for your creations. Free minting additionally provides your advent to the IDF3 collection (collections are like folders for NFTs), now no longer your personal. To release your personal collection, you need to cowl charges.
Ethereum gas fees vary according to supply and demand. But, like avoiding the highway during rush hour, you can mint, buy or sell when gas is lower. We`ve built a tool for you to see when you can get a better deal: 1. Go to Rarible Analytics. 2. Make sure your site is set to a configurable time zone above the heatmap. 3. Select "Average" to examine the current network cost. The speed option isn't very important for beginners unless you need to issue, buy, or sell in less than a minute. You can also use heatmaps to determine the most cost-effective trading times. IMPORTANT: Always check the active gas sensor. The display of the heat map is not a guarantee that the current gas charge is low.
Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. You can buy MATIC with credit card directly from iDF3.
The best way to understand crypto — how a blockchain works, why it matters, how the space has evolved — is to start with Bitcoin. The original cryptocurrency continues to dominate all other forms of digital money—it’s most people’s gateway to the wider crypto world, and its technology provides the foundation for a lot of what came after. Here are some of the best explanations of what Bitcoin is and how it gave rise to the entire crypto ecosystem.
Explain Bitcoin Like I’m Five (Angel investor Nik Custodio does exactly what the title says)
Ben Horowitz explains the rise of crypto (a 3 minute explanation of crypto’s potential)
But how does Bitcoin actually work? (Invaluable, easy-to-understand YouTube explainer)
An Intro to Crypto: Building Blocks (Crypto venture-fund founder and former Coinbase Product Manager Linda Xie breaks down the core concepts linking Bitcoin, Ethereum, and more)
Why Bitcoin Matters (Marc Andreessen, investor and Coinbase board member, makes the case for digital money in a 2014 New York Times essay )
The Internet of Money (Investor Naval Ravikant’s Wired article that introduced a lot of people to Bitcoin’s wider potential)
Bitcoin whitepaper: A Peer-to-Peer Electronic Cash System (Satoshi Nakamoto’s 2009 whitepaper that started it all – technical, but more readable than you’d assume)
Cryptocurrency: The Future of Finance and Money (In this four-minute video, experts from Coinbase and across the crypto universe dive into the democratizing potential of cryptocurrency)
idf3 will never ask you for the pass phrases or your wallet details except the public wallet address.
Never share your wallet phrase will be able to access and steal all your content. also no one can retrieve your data so if you lose the phrase you can't access the wallets again.
It is as simple as:
Create your account in idf3.com and connect it with your METAMASK account. Ensure you have it right,
If you don't have Metamask please check out tutorial Here
Top Up your wallet if you don't have already, make sure to buy the coin you want For example Etherium or Matic.
Time to go to the market place and start investing.