A 101-carat diamond is up for sale at Sotheby’s. As payment by cryptocurrencies is accepted, it attracts crypto traders across the globe to make a bid.
101-Carat Diamond at Sotheby’s Auction
Sotheby is an international auction house that invites crypto users to bid for the 101-carat diamond coming for auction on July 9. The pear-shaped diamond allures users to bid for the precious stone that it auctions. The gem may go for around $15 million, say experts. The payment can be through ether or bitcoin.
Sotheby’s auction on July 9 invites investors to bid for a 101-carat diamond. The diamond is on sale at the Hong Kong gallery. Bidding has already begun online from June 25. It is the first time a physical object of high value has come for public sale through cryptocurrency payment. The younger generation is showing interest in the auction for rare pieces of art in the crypto market says, Josh Pullan, the Managing Director of the luxury division at Sotheby.
Sotheby hosted the first curated NFT sale, the Natively Digital, in its auction house in 2021.
The best US crypto exchanges that users prefer are Coinbase, Binance.US, Kraken, and Cex.io. A minimum fee for buying and selling transactions attracts new users. Traders, individuals, and institutions trade in bitcoin and other leading crypto tokens and choose the best US crypto exchanges for trade. Coinbase cryptocurrency exchange provides the necessary transaction facility for purchase and sale using digital tokens.
Cryptocurrency users show increasing demand for precious gems. Early crypto investors have become millionaires with the high increase in crypto prices.
High-net-worth individuals have got huge returns from their crypto investment. They are willing to invest in digital artwork. Cryptoart has become the new investment of millionaires.
The adoption of cryptocurrency is increasing. Sotheby is willing to accept crypto payment, and it is a new milestone in the adoption of cryptocurrencies, say experts.
Crypto Art Gains Attention
Auction houses gain investor interest as the response from cryptocurrency users are increasing. The volatility in the crypto prices provides high profits, and people get rich quickly. Art dealers and auction houses are making use of the situation by accepting crypto payments.
Crypto art is an emerging artistic work that uses the Blockchain network like top cryptocurrency bitcoin and ethereum. It is gaining popularity for the purchase, sale, or collection of digital artwork in a decentralized manner.
On March 11, Christie’s sold digital artworks by accepting crypto payments for $69.3 million. In June, the sale of another artwork surprises auction houses over the interest from collectors who are willing to pay in cryptocurrency. Crypto trading induces many users interested in crypto art. It is a good investment, where ether is the most common form for payment.
For safe and secure storage of cryptocurrencies, the best crypto wallets are Exodus and Electrum. When users first begin cryptocurrency investing, they prefer to use the best crypto wallets like hot wallets with a free purchase cost.
Crypto News for Crypto Enthusiasts
Crypto news provides awareness about the collector community. Once digital artists gain recognition and have an active social media presence, they can secure good value for their artwork.
The NFT is a unique token that proves the authenticity of the work of art. Artists can sell their work on platforms like Foundation and OpenSea. Digital artists benefit from the NFT as they get a better price for their work. Artists can earn royalty on their art every time their work gets sold.
Cryptoart has drawn new investors. Payment in cryptocurrency induces interest from collectors.
The pandemic has brought new users into the crypto market. Apart from high-net-worth individuals, millennials are willing to invest in cryptocurrencies. The chief attraction is the huge profits from the wide swings in crypto prices.
Investors prefer the best crypto exchanges to trade bitcoin, ethereum, and other crypto tokens as they are safe and secure. When you purchase a digital token for long-term holding, you can choose the best crypto exchanges such as Coinbase and Coinbase Pro. The best crypto exchange for altcoins is Binance.
The best cryptocurrency to invest in 2021 is bitcoin and ethereum, though there are other options. Bitcoins reached their peak prices in April 2021. After a slight lull, crypto prices are picking up again in July 2021. Apart from bitcoin and ethereum, other altcoins are considered the best cryptocurrency to invest in 2021. They are cardano, ripple, polkadot, litecoin, uniswap, chainlink, and polygon.
Free crypto trading exchanges offer free trial versions, though they come with limitations. Some of the top free crypto trading exchanges are Atani, Accointing, HollaEx Kit, CryptoTrader.Tax and CYBAVO.
Day trading crypto is one of the common trading strategies in the cryptocurrency market. Traders enter and exit positions within the same day. Day trading crypto makes use of intraday trading strategies to make profits.
As of July 7, bitcoin was trading at $34,790, and ether was trading at $2,390. Crypto prices rise and fall with high volatility. The large swings in bitcoin prices trigger investor attention.