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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto currency. Markets have popped up across the internet, designed to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.

If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.

So, hop on board and discover what you can do with OpenSea, along with checking the NFTs that you can see!

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Before you go on, you may want to check out 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 4 Ft Startups

The aim of OpenSea was to provide an online marketplace for artists to upload commissions, without having to pay any additional costs. There are additional features which allow you to market your work without having to deal with many difficulties.

For registration, you won’t have to worry about giving any personal information about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology which is utilized for most processes. It also operates on the Polygon blockchain, which allows for low-cost and quicker trading.

There are two types of blockchains that are available you can pick which one you want to publish your NFT as seller. This is to ensure the security of your NFT as well as those who would like to purchase it. Every transaction will be conducted using this blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name to an official artwork by an artist you admire. Anyone can sell however it takes some time for anyone to be an established seller.

There are a variety of NFTs in the collection at OpenSea and you could become a part of this! You can start your own marketplace here, along with finding NFTs you want to purchase yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the cryptocurrency industry, the term “NFT” has been going around for so long on internet that the majority of young people are familiar with it , but aren’t 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 latest ways you can buy is an NFT. A NFT is a non-fungible token that is exclusive and cannot be changed. This can be an item of any rareness like rare baseball trading cards in mint condition or unique vinyl album.

There’s no limit on what an NFT can be as it’s a non-fungible item that you sell on the internet. In simpler terms, you could just consider the NFT as a digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots on your own NFTs. You’re claiming the ownership of the particular item you uploaded on market, as offering it for sale. Usually, this is recognized when you have filled in the proper information regarding the NFT and submit it for sale on.

On OpenSea, it’s a simple process to mine your NFTs by going to the store and simply create a collection! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like for it (e.g. blockchain, money transfer tokens). After that you are able to upload it, if it’s within the limit of 100MB.

You can wait and observe how the transactions go from now to see whether OpenSea is the right marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs can you find here?

So, at this point you’re probably asking yourself what kind of NFTs can be purchased here and what you can sell should you decide to go down that path. The type of NFT it is unlimited since there’s a broad range of how you can go about it.

You can be selling trade cards, digital goods, game assets, domain names, and even physical assets! Consider what you believe will bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The collection Manager function is the one that separates OpenSea from the others. There are zero gas fees for using this feature when you mint and sell NFTs. This means you’ll be able to make the highest profits once you start selling because you don’t need to pay on any additional charges.

Not many NFT marketplaces provide this feature, and it can be a fantastic way to receive high profit from your collection.

Referral Program

This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are benefits by referring your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, letting you earn more cash through this action.

Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea has over the other marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile app, but it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.

The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least look through the options you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are to you, and you can convert your fiat money into cryptocurrency using these platforms. 4 Ft Startups

You can swap the fiat currency you have with a the credit card, or Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and other things!

All of them have the option of converting them into ETH that is the standard cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all types of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built mainly using an ETH blockchain, any wallets which are part of this network are appropriate for this site.

Here is a list of several crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, mobile-only usage and the ability to purchase cryptocurrency using credit cards. 4 Ft Startups

To know more about it to learn more, check out their FAQs to see the steps you can begin and what other crypto wallets are compatible with OpenSea.

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> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:

Pros

  • Mobile apps are available for iOS and Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto market and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • It is not possible to buy or sell items through our mobile apps.
  • Only supports cryptocurrency as its type of payment.
  • An Crypto wallet is required to use this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can easily recover that amount when you actively sell because there’s no additional cost for it.

Frequently Asked Questions 4 Ft Startups

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work 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 low gas costs and the low commission rate that you have to pay.

You can browse and shop for the vast array of digital goods in this NFT marketplace, so you should check it out!

Is OpenSea legit & secure?

The short answer is yes! OpenSea has been a reliable marketplace since it was founded in the year of 2018. Since its system is built on blockchain technology, it is safe to say that your transactions are protected and secured.

In addition as a seller you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or any collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are protected.

How can I earn royalties on OpenSea?

Unfortunately, as an artist, you’ll be paid only 10 percent of the royalties after you have uploaded the NFT. This is believed to be reasonably low compared against the other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) is widely used on this site and many others to accommodate the increasing number of cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can use for OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the transaction.

Does OpenSea has a mobile or desktop application?

As mentioned before, there is definitely an official mobile app by OpenSea that is available for iOS or Android. Download it at their respective app store, and begin exploring the collection right now!

A version for desktops that OpenSea which can be downloaded from WebCatalog. On the desktop app you are able to manage multiple accounts as well as receive notifications on updates regarding your account when you’re on the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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> > Click Here to Explore OpenSea < <

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