The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto currency. Marketplaces are popping up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them and is worth a look.
If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s see what you can do with OpenSea and also see the NFTs available to view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace 130Cm I Nft
The aim to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions without any extra charges. There are additional features that let you sell your art without too many problems.
For registration, you don’t need to provide all of your personal details. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for most processes. It is also based on the Polygon blockchain, which allows for lower costs and faster trading.
With these two types of blockchains available you can pick which one you’d like to upload your NFT on as seller. This ensures the safety of your NFT as well as the people who want to buy it. Every transaction will be conducted using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist you admire. Anyone can be a seller however, it takes time for anyone to become a reputable one.
There’s a huge selection from the selection at OpenSea and you could join in with that! You can set up your own marketplace on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that a lot of millennials are familiar with it but not exactly sure what it means. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can buy is an NFT. A NFT is a non-fungible currency that is very individual and cannot be substituted. This can be an item of rareness, such as mint-condition baseball trading cards or a unique vinyl album.
There is no limit to what an NFT can be as it’s a non-fungible thing you’re selling online. In simpler terms, you could just consider an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You’re claiming the ownership of the particular item that you posted to market, as selling it. Usually, this becomes official after you fill in all the necessary information about the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and then create a collection! Complete the correct and complete information about your NFT and choose what kind of settings you want to use it with (e.g., blockchain and money transfer tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from here on out to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably thinking about which kind of NFT be found here, and what you could sell should you decide to pursue that route. The kind of NFT it can be is indefinite as there’s a variety of options for how to do it.
It is possible to sell trade cards, digital goods games, domain names, and also physical goods! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the other options. There are no gas costs when you utilize this feature when you create and market NFTs. This means you’ll get the most profit when you start selling because you don’t need to pay on any additional charges.
There aren’t many NFT marketplaces offer this feature, which is why this is great for you to earn a high return from your portfolio.
Referral Program
This Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets, you can receive rewards by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll earn 2.50% of the sale amount, which allows you to make more money through this action.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.
The mobile apps from OpenSea are accessible for the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use to convert your fiat money into cryptocurrency on these platforms. 130Cm I Nft
You can exchange your fiat currency using a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option to exchange for ETH, which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Because it is based on an ETH blockchain, wallets that share the same network are suitable for the site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage and the ability to purchase cryptocurrency with credit cards. 130Cm I Nft
To know more about it You can go through their FAQs to see the steps you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty rates).
- Cannot buy or sell via this mobile application.
- Only accepts cryptocurrency as a method of payment.
- An Crypto account is needed for this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions 130Cm I Nft
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs due to its no gas fees and the low commission rate you must pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace and you must check it out!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since it was established at the end of 2018. Since the system it operates on is built on a blockchain and is secured, it is safe to claim that your transactions are protected and secured.
In addition, as a seller, you can become verified once you have built up your credibility. A blue checkmark is placed on your account or collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the content to ensure users are protected.
How can I earn royalties from OpenSea?
However, as an artist, you will be paid only 10 percent of the royalties after you upload the NFT. This is thought to be reasonably low compared against the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is frequently utilized on this website and many others to accommodate more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile app?
As previously mentioned, there is definitely an official mobile app from OpenSea available for both iOS and Android. Install it from their app store and you can start browsing through the collection right now!
A desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts as well as receive notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
