[EN] Total Cost of Ownership, NFTs (and web3)

  1. Get onboard: Wallet, tokens with FIAT, through an exchange or other.
  2. Gas fees: depending on the network, you will face fees that are higher than the actual transaction you want to pursue. This is due to the networks where the transactions are made (ETH) being busy and congested. In the past years (for BTC) and months (for ETH) several “Layer 2” solutions are being deployed to make this more efficient. Layer 2 are frameworks or protocols that help with transaction speed and scaling. You can always monitor gas fees. You might do some research on what a gwei means, and more.
  3. Security: Having an understanding of the implications of Hosted, Non-Custodial Wallets and Hardware Wallets to analyze risk mitigation (e.g. with Hardware, or risk transfer (Hosted/Custodial), and what to invest to secure the assets I plan to manage there. The environment is currently very hectic, meaning that has a lot of legit and non-legit participants, thus, depending on what you want to do/achieve/protect, take some time to understand and provision the right resources.

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Natalie Gil

Natalie Gil

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MIT Sloan Fellow. Ubergeek, IT Exec, Mentor/Mentee. Ex-Microsoftie and Goldman Sachs Alumna. Diversity Champion. Founder @LatinityConf About: www.natalie.uno