Getting started using NFT (Opensea) | Lower gas cost in ETH

Introduction

OpenSea is one of the popular NFT exchanges. If you are new to NFT, please read this article to understand better. The recent rise in NFT has created more exchanges like Opensea. In my previous article, I have covered Opensea and NFT. This article will show how to start with Opensea and some steps to lower the gas cost.

Photo by Fakurian Arts on Unsplash

Starting with Opensea is very straightforward. You needed a browser wallet to get started.

Different wallets to signin

Metamask is by far the popular wallet. Click on Metamask and follow the instructions to install it in your browser. If you face any issues, a little googling might help. Once you create your metamask, Opensea will request to authorize it via metamask. Then you are good to get started.

Setup charges in Opensea

Opensea is an excellent platform for artists. The platform does not have any listing charges. However, they will validate your account by posting two free transactions if you want to start. It is similar to some small cents transactions posted by the Bank to verify the account. The difference is you needed to pay the gas fees in Ethereum. You can read more about starting fees here.

Listing of an image in Opensea

When you list an item, for example, your art, it will request you to mention the price or list via bidding and request you to validate your initial transaction. This is where metamask wallet will come into picture. You should have some amount of ethereum in your wallet.

Lower your gas charges

If you are aware of Ethereum, there is a hefty gas price(which will change in the future via proof of staking, more on that later). When it requests you to confirm the transaction, it will show you the total charges, including gas charges.

Option in Metamask

When it shows the above option, select advanced options

Update the Gas price

Now you can change the Gas Price(GWEI). Lower the gas price, slow the transaction. In general, gas prices will be around below range at the time of writing.

If you enter your number as 54 Gwei, it means the transaction will take < 30 mins to confirm. Faster the transaction, the more the gas price. As you wanted to lower the transaction fees, you can enter around 25–30 Gwei. It took ~17 hours for me to confirm the transaction when the network is bustling.

I would not recommend it to go lower than 15–20 Gwei. Then it might take forever to confirm the transaction. In this way, you can lower the cost of the initial transaction in Opensea.

Lowering the gas cost can be used in any transactions from your wallet using the above approach if speed is not a concern for you!

Once the transaction is confirmed in the blockchain, Opensea will allow you to post your listing.

Message until Opensea confirms the transaction

Create your collections

Now you can create your collection from the menu and sell your digital art collection to the world to become a millionaire(may be)!

Adding your collections

Series of related articles to read

1. What is NFT? | Make money using NFT + AI
2. Getting started with Opensea. Reduce the gas cost
3. Create art images using AI. Feature Optimization
4. Create different images within AI. Use GAN’s for image creation

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