Hi! I am a digital artist and I have had a few offers made on my art but they buyer wants to pay with Ethereum. I don’t know much about cryptocurrency and even less about Ethereum so I don’t know if this is a scam or not. Would anyone be willing to help me out?
ethereum dot org is a good resource to learn about Ethereum if you don’t know anything about it
Why not just link it? ethereum.org
Don’t do anything with the NFT you receive for free. It will be there indefinitely and if you try to delete them or whatever you may loose all your Eth. Good luck.
Just a note, there are lots of scammers out there that will try to convince you they want to buy your art as an NFT and they’ll insist you use some website of theirs that has lots of fees associated with it. They’ll keep telling you the next fee is the last fee and then they’ll buy, but it never is. Be careful for this type of scam. Look at /r/NFT, they have people asking about this kind of scam many times every week.
Ethereum is a blockchain. A blockchain is a public database that is updated and shared across many computers in a decentralized network (source: ethereum.org). In a such blockchain, writing some records on it requires users to pay in a native currency : ETH for the Ethereum blockchain.
ETH is the second largest blockchain, after Bitcoin. This database has never been hacked, as Bitcoin.
Ask to be paid in ETH. If you prefer, you can convert it in USDC (token that is pegged 1:1 with US Dollar) without any approval or bank, just using your Internet connection.
Some homework for you:
- Read Ethereum.org
- Create your wallet: download metamask extension for your browser and then follow the steps.
- Copy your public address and give it to your client.
- Enjoy
Thought the reason we have ERC (Ethereum Classic) was because a sort of a hack? Don’t know the details, so might be wrong.
One sentence in your whole comment is false: “This database has never been hacked, as Bitcoin.”
True for Ethereum, false for Bitcoin.
On Aug. 15th, 2010, an unknown hacker nearly destroyed Bitcoin. The hacker generated 184.467 billion BTC out of thin air, in what has become known as the “Value Overflow Incident”. Satoshi hard forked the chain to remove the 184.467 billion BTC, which is the only thing that saved Bitcoin from dying an early death that day. (Source: https://en.bitcoinwiki.org/wiki/Value_overflow_incident)
Hi! I’m in a similar situation to OP - in my case, I already received some USDC through Coinbase. I’m curious to know, how to get the money out of the platform - my wish is to use the money & since I’m not based in the US I have to send it to another wallet. It says that I have to buy ETH at least once ($31 ish) in order to do that… am I correct?
(sorry I’m copying & pasting from another comment)
Normally you would hook it up to your bank and deposit USD into your account. If this isn’t an option, then next thing I would look at is if there is an exchange in your country that can be hooked up to a bank account. If that isn’t an option, many countries have BTC ATM/cash machines. This would require you to convert to BTC first I think, idk if they accept ETH. It seems normal that you would need a little ETH to convert transaction costs. What country are you in ?
I would advise you request payment in “Native” ETH. This is just called ETH, and probably what your client is offering. If so, you are good, it is really difficult to scam someone from simply sending them ETH.
This is the only asset on Ethereum that will increase your account’s balance on Etherscan dot io. You will see tokens - these are different from ETH. I would suggest NOT to accept any “tokens”, since these have some potential to be scams.
If your guy does a transaction and you receive it, and see it on Etherscan, It should say “ETH Balance:” and the number you are expecting
Create an exchange account, like Coinbase or Gemini. Go to “receive crypto” – select ETH (not ETH classic), you will get an ETH address (42-character hexadecimal address derived from the last 20 bytes of the public key controlling the account with 0x appended in front.). Send this to your buyer and now they can deposit funds in your account. If they are legit, this will be acceptable to them, otherwise they are running some scam.
This is the best advice for a new crypto user who is just looking to accept payment. Exchanges are easiest in your case, because If you were to use a wallet like metamask, you would have to send it to an exchange anyway to withdraw it to your bank. With coinbase in the U.S. you can even withdraw directly to PayPal if you don’t want to connect your bank to the exchange.
If you end up liking crypto and want to hold long term, I recommend getting a hardware wallet.
Hi! I’m in a similar situation to OP - in my case, I already received some USDC through Coinbase. I’m curious to know, how to get the money out of the platform - my wish is to use the money & since I’m not based in the US I have to send it to another wallet. It says that I have to buy ETH at least once ($31 ish) in order to do that… am I correct?
Centralized exchanges are not the best, but they are the easiest. Get a Coinbase account and you will have wallet addresses there that your customers can send their ETH to. You can see that it arrived with the Coinbase app on your phone.
Ethereum is just a tool. It doesn’t make the transaction scam or not. You should be more careful of who you transact with.
It’s a scam. Read the NFT forum for that stuff.
Only accept ethereum from the real ethereum network, I have seen scams were they pay testnet ethereum.
So always check on https://etherscan.io/ if the ethereum is received.
I have had a few offers made on my art but they buyer wants to pay with Ethereum
This is a common scam
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Ethereum as a utility is cool and there’s a lot of good hearted sounding advice on replying here
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This a a classic scam. Do not do this. This is a common con job that works by the con artist having you interact with a legitimate looking interface after leading you on for a long time. They promise you a lot of money, often more than market value, but you can only accept payments through “x,y,z vendor” but you have to set up an account. They will have you verify your account by depositing a small amount that they will refund after it’s cleared.
Good channel on how to avoid scams is scambaiter on YouTube
https://artsartistsartwork.com/protect-yourself-avoid-nft-scams-from-random-invitations/
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Its most likely scam, don’t fall for it op
Etherium is a long con scam where the founders use new buyers as their exit liquidity
It’s almost always a scam based on your situation.