The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up all over the web that allow users to purchase and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth looking into.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the largest and leading marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea and also see what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace 500 Nft Gloves
The aim to create OpenSea was to offer artists with a marketplace/platform to easily upload their commissions, without having to pay any additional charges. It has more functions that let you sell your work without having to deal with many issues.
In terms of registration, you won’t have to provide all of your personal details. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system, and this is used for most processes. It also operates using the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains it is possible to choose which one you want to upload your NFT on as an seller. This ensures the safety of your NFT and the people who want to buy it. All transactions will be made using this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can be a seller, but it takes a while before anyone can become an established one.
There are a variety of NFTs in the collection on OpenSea and you could become a part of that! You can create your own personal market on this site, as well as find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market, the term “NFT” has been going around so long on the internet that a lot of millennials have heard of it but not exactly sure what it means. Let’s look at what an NFT is for anyone who is new in cryptocurrency.
One of the newest things you can purchase your cryptocurrency includes an NFT. The NFT is a non-fungible currency that is individual and cannot be substituted. It can be a piece of rareness like rare baseball trading cards in mint condition or a rare vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you sell online. More straightforwardly, you can just think of as an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling the ownership of the particular item you uploaded on the market place, but putting it up for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally add it on the market.
On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and then creating a collection to start! Complete the correct and complete information about your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain and payment tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.
You can watch and see the way transactions are handled from now to see 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 can be purchased here and what kind of NFTs you can sell should you decide to go that route. The type of NFT that you can purchase is unlimited as there’s a variety of ways to do it.
It is possible to sell digital products, trading cards games domain names, even physical assets! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from the others. There are zero gas fees when you use this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you begin selling since you don’t need to pay on extra fees.
Very few NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your NFT collection.
Referral Program
This Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets that offer benefits when you refer someone else to OpenSea! If you invite a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50 percent of the purchase amount, letting you earn more money through this action.
Other NFT marketplaces don’t have this kind of feature either 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 app, but it’s mostly for perusing through the marketplace. You can’t buy or sell anything as you scroll through the list.
The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell something, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. 500 Nft Gloves
You can swap your fiat currency using a credit card or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option to exchange for ETH which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based around the ETH blockchain, any wallets with a connection to this network are appropriate for this site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency with the credit card. 500 Nft Gloves
For more information about the service to learn more, check out their FAQs to get an overview of how you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Mobile apps available for iOS as well as Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalties).
- You cannot buy or sell products through this mobile application.
- Only accepts cryptocurrency as a type of payment.
- A Crypto account is needed to use this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no additional cost for it.
Frequently Asked Questions 500 Nft Gloves
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to provide artists a platform for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists who use the platform to market NFTs due to its low gas fees and low commission fees you must 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 is a reputable marketplace since it was founded in the year of 2018. Because its system is based on a blockchain that is secure, you can claim that your transactions are secure and safe.
In addition as a seller you can become verified once you build up your reputation. A blue checkmark will appear next to your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you can be paid only 10% of the royalties once you upload the NFT. This is thought to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be frequently utilized on this website and other sites to provide many more cryptocurrency users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use for OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop application?
As we mentioned earlier there’s 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!
There is also a version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts and get alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
