Chances are, you’ve spotted out a Kitties Balls you really want, but there is not enough in your pocket. Filled with dismay and frustration? Don’t worry, DigiCol renders a solution for you now. Starting from today, we allow users to bid on any NFT collectible they wish to purchase. This tutorial will walk you through how it works!
Let’s start the journey with BunnyBalls. It’s currently listed for 0.85 ETH. Well, not too expensive but you are running out of money recently. You can only make an offer for 0.5 ETH. DigiCol allows you to do so with the bidding feature. The seller could immediately sell BunnyBalls for 0.5 ETH if they’re happy with it. In the following, we will show you the step-by-step bidding magic.
How to Place Bids on DigiCol?
A little currency background
DigiCol adopts a currency called Wrapped Ethereum (WETH) for the bidding feature. It refers to the ERC-20 compatible version of ether. Wrapping ETH does not affect its value as 1 ETH is always equal to 1 WETH. You can downgrade any unused WETH back to ETH anytime.
Why WETH instead of ETH?
There are two main advantages of WETH. We can explain things technically but let’s keep things simple. Put plainly, WETH authorizes DigiCol to perform any NFT bidding transactions instantly even when any side of the transaction is offline, compared with both sides of the transaction must be online if ETH is adopted.
Besides, WETH allows the user to bid on multiple items using the same pool of Ether. For example, as a user with 0.5 WETH, you could place a 0.5 WETH offer on BunnyBalls, a 0.5 WETH offer on HenryBalls, a 0.5 WETH offer on Swingkie, a 0.5 WETH offer on Coffinman…whatever items you like! Say, your first bid gets accepted on BunnyBalls, then the other offers will turn invalidated immediately if you no longer have enough WETH in your account. However, with ETH you can only place 1 bid offer every time, so inconvenient.
Enough background, let’s get to the point!
Wallet Already Has WETH
Step 1: Pick your NFT collectible
Scour DigiCol for your favourite NFT. The Dicky Balls looks cool so let’s use it as an example.
Step 2: Place a Bid
Hit on the ‘Bid’ button, and you will be navigated to this page. Enter the ETH amount. (1 ETH = 1WETH) Click ‘Place a bid’.
Step 3: Create a Signature
Create a signature to place a bid.
Step 4: Done or Update Your Bid
You’re good now, the bid is placed successfully. You can hit ‘Update my bid’ to make any necessary amendment, or click ‘Cancel’ on the ‘Bids’ page.
Wallet Has No WETH
Step 1: Pick your NFT collectible
Scour DigiCol for your favourite NFT. Let’s use this Kitties Ball 1 as an example.
Step 2: Deposit WETH, Approve Transactions & Place a Bid with Signature
Send and approve the WETH deposit transaction with your wallet. Create a signature to place the bid.
Step 3: Done or Update Your Bid
You’re good now, the bid is placed successfully. You can hit ‘Update my bid’ to make any necessary amendment, or click ‘Cancel’ on the ‘Bids’ page.
We hope you find this tutorial useful. Please also help other collectors find it by applauding or sharing. Bid for fun now!
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