Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto coins. Markets have popped up across the internet, designed to purchase and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace 2021 Wildwood 31 Nft Bunk Housu With Slide
The goal of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions with no additional fees. It also has additional functions which allow you to market your art without too many problems.
In terms of the registration process, you don’t have to give any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it, and this is used for the majority of transactions. It also operates with the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains you can pick which one you would like to transfer your NFT to as seller. This will ensure the security of your NFT, along with those who would like to purchase it. All transactions will be made along with this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name, to a piece of art from an artist you admire. Anyone can sell however, it takes some time for anyone to become an established seller.
There is a wide variety in the collection at OpenSea and you can join in with this! You can set up your own personal market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials are familiar with it , but not exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency can be an NFT. The NFT is a token that is non-fungible which is extremely unique and can’t be changed. This can be a piece of rareness like authentic baseball cards or unique vinyl album.
There is no limit to what an NFT can be as it’s a non-fungible thing you’re selling on the internet. It is simpler to simply think of an NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs on your own NFTs. You’re claiming ownership over that particular token/item you uploaded on the market place, but you’re putting it up for sale. Usually, this becomes official once you fill out the correct information about the NFT and then upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and then creating a collection to start! Fill out the proper and correct information regarding your NFT and select the type of settings you want for it (e.g. blockchain or payments tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now on to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably asking yourself the kind of NFTs be purchased here and what kind of NFTs you can sell should you decide to pursue that route. The type of NFT that you can purchase is unlimited because there’s a wide range of options for how to do it.
You could be selling digital items, trading cards, game assets domain names, also physical goods! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas when you utilize this feature to mint and sell NFTs. This means you’ll get the most profit when you begin selling since you won’t need to spend on extra fees.
There aren’t many NFT marketplaces offer this feature, and it can be a fantastic way to make a huge profit from your NFT collection.
Referral Program
The Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are advantages when you refer someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash through this action.
Other NFT marketplaces do not have this feature This is a further benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available on both iOS in addition to Android. Even though you can’t buy or sell things, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use, and you can exchange your fiat money for cryptocurrency using these platforms. 2021 Wildwood 31 Nft Bunk Housu With Slide
You can convert the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of these have the option of exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of crypto, wallets are nevertheless more compatible than others. Since it is built mainly on an ETH blockchain, wallets which are part of the same network are suitable for the site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage and the ability to purchase cryptocurrency with credit cards. 2021 Wildwood 31 Nft Bunk Housu With Slide
To learn more about it You can go through their FAQs for the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has 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 and Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalty).
- You cannot buy or sell products on the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly regain that when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions 2021 Wildwood 31 Nft Bunk Housu With Slide
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to market their work online and receive cryptocurrency as their form of payment. It’s a great platform for artists who use for selling NFTs because of its zero cost of gas and low commission fees you must pay.
You can shop and browse an array of digital goods in this NFT marketplace and you must take a look!
Is OpenSea legitimate and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in the year 2018. Since its system is built on a blockchain, it is safe to claim that your transactions are protected and secured.
In addition, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will be assigned on your account or the collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are secure.
How can I earn royalties from OpenSea?
As an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is thought to be a reasonable amount compared to other NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) can be frequently used on this site as well as other sites to provide the increasing number of cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before There is an official mobile app from OpenSea for both iOS or Android. Install it from their app store, and then you can begin exploring the collection now!
A desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts and get alerts on any updates that affect your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
