How can I buy a Chilly Bit?
You can buy a ChillyBit on OpenSea, a digital marketplace for non-fungible tokens (NFTs).
“The first way is by “minting” a Chilly Bit through OpenSea directly to your Ethereum wallet. Minting is the process of creating a unique token on the blockchain. You can mint a Chilly Bit through the OpenSea Sale listing, but you need you Ethereum coins to pay.
The second way is by buying a Chilly Bit directly from another OpenSea user’s wallet. This means a previously minted token is changing ownership from the previous owner to the buyer. Since the Chilly Bit in this case already exists on the blockchain, there is no need to mint it. Again, you need Ethereum coins to pay.”
We will guide you through the process to mint a Chilly Bit. You could buy a Chilly Bit from another collector in a very similar way:
STEP 0
The preliminary step involves getting some Ethereum coins, aka ETH, the digital currency on the Ethereum Blockchain. Why do you need ETH? Because at the home of the Chilly Bits, all transactions are in EHT. If you already have some ETH you can skip the step 0 and go directly to step 1.
Since there are so many ways to buy ETH, you might need to do some research on your own. The available options differ from country to country. As you compare, look for simple interfaces, educational resources, and a functioning helpdesk. Consider the security features and the fees.
Our choice? The Chilly Bit team uses Bitpanda. Do your research, ask for recommendations, make your mind, and buy some ETH. 0.015 ETH should be enough to buy your first Chilly Bit. You can read more about the price towards the end of this blog entry.
You want to buy a Chilly Bit, but this step seems too complicated? Read How to I purchase Ethereum (ETH)? on the OpenSea website to learn how to skip all this using your credit card.
STEP 1
The first step involves sending ETH to a crypto wallet, which stores your ETH and process your transaction at OpenSea, the marketplace for the Chilly Bits. Here you can read “What crypt wallets can I use with OpenSea?”
We show you how it works for us with MetaMask, but we recommend reading the entire section before transferring the ETH. First, you need to install MetaMask. You can read here and learn how to do it.
Then, you simply copy your MetaMask public address (next to the star), go to your wallet and send ETH to the MetaMask crypto wallet.
This is how it looks in our Bitpanda wallet. We just copy the address and send the ETH.
If you want to save you some ETH, timing is an important factor. Every transaction involving ETH is a transaction on the blockchain. And every transaction on the blockchain has an associated cost‒the gas fees. Gas prices change based on network congestion. Before doing a transaction on the blockchain, you might want to wait for low gas prices. The best resources are the following:
The gas tracker feature on Etherscan displays gas prices. So, check the price here before any transaction: https://etherscan.io/gastracker
If the price is too high, we advise you to be patient and wait. Using https://ethereumprice.org/gas/, you can check average prices by time of the day, and save you some ETH.
Is it a good time now? Just transfer your ETH to MetaMask or any other compatible crypto wallet. Is the gas price to high? Just wait a little bit.
By the way, all the transactions can be found on Etherscan. Remember your MetaMask address next to the star? Once you are done buying some ETH coins, copy your address again and paste it on the search bar. There you go. Your transaction is recorded. It’s always a good practice to check Etherscan after completing a transaction. Additionally, you will develop a trained eye for fees and gas prices.
STEP 2
Follow the indications on section 3) OpenSea of How do I create an OpenSea account? and connect your crypto wallet to OpenSea.
STEP 3
· Go to www.chillybitsnft.com
· Click on MINT A CHILLY BIT
· You will land at the Chilly Bit Sale. You will see your wallet with your funds at the right side. You can scroll down and take your time to choose your next Chilly Bit.
· Just click on your selected Chilly Bit and then “Buy now”.
> That’s it. Congratulations. You are the owner of your very own Chilly Bit.
Some additional comments:
> You can read here what it means to “own” a Chilly Bit.
> You will find your Chilly Bit on OpenSea, just choose Profile (next to the star).
> As we mentioned before, enter your crypto wallet adress on the Etherscan search bar to check the transaction.
Let’s have a look at our crypto wallet now on OpenSea:
After the transaction, there are 0.0218 ETH in the MetaMask wallet. Before the transaction, there were 0.0347. The total cost was 0.0129 ETH. But wait, wasn’t the price for a Chilly Bit only 0.0004? You are completely right. The difference is the transaction fee (Txn Fee = Gas price * Gas used). You can check again your crypto wallet details on Etherscan and you will find something like this:
Keep in mind that the gas price is variable. With a price close to 40 gwei, you need about 0.013 ETH to buy a Chilly Bit.
> Nice! Your next purchase on the blockchain will be much easier and smoother 😊
