What is Etherum?
“Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It’s a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today.” – etherum.org
Like any great system, Ethereum technology runs on fuel. This fuel is called Ether (ETH). ETH is also a cryptocurrency that can be used to buy digital art (e.g in the form of NTFs).
What makes purchasing with ETH better than with a credit card is that all transactions are atomic. This means that when you make a purchase order, the transfer of yours-to-be NFT and your ETH balance are interlinked, happening at the same time. In addition there are no bank fees, waiting times or other legacy problems common to the SWIFT network.
How do I get Ethereum (ETH)?
There are two types of channels to buy ETH.
- Exchanges (e.g. Kraken, Binance) – this is where you can also trade with your cryptocurrencies.
- Wallets (e.g. MetaMask) – this is just for buying and holding your ETH. Depending on the wallet, you can easily buy, hold and withdraw your ETH at any time. Withdrawing ETH is just like sending your FIAT currency to another account, you are just sending ETH.
How does the purchase process look like?
If you wish to acquire ETH we recommend going with wallets. Depending on which wallet you use, your experience will vary, but most of the time it is the following:
- Signup: Choose email and secure your account by choosing a strong password and setting up multi-factor authentication if possible.
- KYC: Depending on the wallet you will or don’t have to do KYC. You only do this once, and the wallet is with you for the rest of the years to come. In this process you simply upload your ID card or passport photo and a selfie. Wallets usually KYC you within 5 minutes.
- Buy: Select and open an Ethereum (ETH) account and click on Buy. You can buy with wire transfer or Credit Card.
The wallet will process your purchase, usually within 10 minutes after which your wallet will show ETH balance. Near your wallet you will also see your wallet address (e.g. 0x29D7d1dd5B3g7C864d9dDqcw6o5GNn7c178aE86B).
Which wallet to use?
Because Peppermint works with the OpenSea marketplace, you need to have ETH on your MetaMask wallet. You can buy ETH directly inside MetaMask wallet, or transfer your ETH from another account into MetaMask. Read how to transfer here.
MetaMask wallet works both on mobile application (both iOS or Android) and as a browser extension. You need the browser extension to shop on OpenSea and we also recommend getting the app as you can have a better ETH buying experience and can keep an eye on your assets on the go.
Read how to set up a MetaMask wallet and get ETH on your account from here.
Based on your location you can use the following wallets.
US, ASIA (excl. China), EU (including UK)
This wallet works well when you wish to top-up your newly created MetaMask account. After you have logged into your MetaMask on the browser extension, visit app.mycrypto.com and it will ask you to connect your MetaMask account. After this you can proceed with the purchase of ETH with your bank card or wire transfer.
Mobile only wallet available on App Store (iOS) and Google Play (Android)
MEW is a free interface helping you interact with the Ethereum blockchain. Their open-source platform allows you to generate wallets. They are also available as a mobile app.
currently the only allowed wallet in the region. Binance, Kraken and other exchanges are also available.
Crypto walled created for business. Control wallet access, earn interest and speed up your payments. With multis you must request access to the wallet via a web form which will be reviewed by their team.
I already have ETH, how do I transfer it to MetaMask
If you already have ETH outside of your MetaMask wallet, then do the following to get that ETH on your wallet for use with Peppermint art:
- Open MetaMask account and it will give you default new account out of the box.
- Transfer from your existing account to your newly created account on MetaMask. Copy your MetaMask account address, by clicking on the area under account name (highlighted in red on the right).