9 Block Nft

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The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto currency. Markets have popped up all over the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth looking into.

If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It’s one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.

So, hop on board and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!

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Before you go on, you may want to watch 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 of OpenSea.

OpenSea as an NFT Marketplace 9 Block Nft

The goal of OpenSea was to provide artists with a marketplace/platform to upload their commissions without any extra fees. There are additional features that let you sell your artwork without any issues.

For registration, you don’t need to give all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

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

With these two types of blockchains that are available it is possible to choose which one you’d like to upload your NFT on as an seller. This will ensure the security of your NFT as well as those who wish to purchase it. All transactions are made using this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can exchange your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything the simplest domain name to official art by an artist you admire. Anyone can sell however, it takes a while for anyone to be a reputable one.

There’s a huge selection from the selection at OpenSea and you could join in with the collection! You can set up your own personal market on this site, as well as find NFTs you’d like to buy yourself.

9 Block Nft

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What is an NFT?

In a recent development for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it , but not exactly sure what it is. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.

One of the new things you can buy is an NFT. The NFT is a token that is non-fungible that is very exclusive and cannot be changed. It can be a piece of rarity like rare baseball trading cards in mint condition or a unique vinyl album.

There’s no limit on what an NFT can be since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could simply imagine the NFT as a digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots on your own NFTs. It is a way of claiming ownership over that particular token/item that you posted to the marketplace, and you’re putting it up for sale. Typically, this is official once you fill out the correct information about the NFT and then add it on the market.

On OpenSea it’s a straightforward process to mint your NFTs. All you have to do is visit the store and then creating a collection to start! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like for it (e.g. blockchain or payments tokens). After you’ve completed the process you are able to upload it to the internet if it’s in the 100 MB limit.

It is possible to wait and see the way transactions are handled from here on out to see whether OpenSea is the best marketplace for you.

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What NFTs can you get here?

At this point you’re probably asking yourself the kind of NFTs you shop for here and what you can also sell if you choose to pursue that route. The type of NFT it is indefinite as there’s a variety of how you can do it.

You can be selling digital products, trading cards, game assets domain names, even physical assets! Find out what you think will bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what separates OpenSea from the others. There are zero gas fees for using this feature to make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you start selling because you don’t need to pay on additional fees.

Not many NFT marketplaces offer this feature, which is why this is a great way to make a huge profit from your NFT collection.

Referral Program

The Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets, you can receive advantages when you refer your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which means you can earn more money from this act.

Other NFT marketplaces don’t offer this feature, so that’s just another benefit OpenSea has over the other marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.

The mobile apps from OpenSea are accessible on both iOS as well as Android. Even though you can’t buy or sell anything, you can still at least explore the products you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency on these platforms. 9 Block Nft

You can swap your fiat money via your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:

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

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

Crypto Wallets

While OpenSea has been described as being an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built around the ETH blockchain, any wallets which are part of this network are appropriate for the site.

Here’s a list various crypto wallets that you can utilize in OpenSea:

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

Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage as well as the capability to buy cryptocurrency using the credit card. 9 Block Nft

To learn more about it You can go through their FAQs to get the steps you can begin and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and pros here:

Pros

  • Mobile apps are available that are compatible with iOS and Android.
  • Smart contracts can be used to perform transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalty rates of 10% for artists (low royalty rates).
  • It is not possible to buy or sell items via our mobile apps.
  • Only supports cryptocurrency as its form of payment.
  • The use of a Crypto account is needed to use this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll quickly recover this amount if you are actively selling since there’s no extra charge for it.

Frequently Asked Questions 9 Block Nft

What is OpenSea?

OpenSea is an NFT marketplace that is designed to provide artists a platform for selling their artwork online to receive cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs due to its low gas fees and low commission fees you must pay.

You can browse and purchase a vast collection of digital products on this NFT marketplace, so you should take a look!

Is OpenSea real and safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was founded in the year of 2018. Since its system is built on a blockchain that is secure, you can say that your transactions are safe and secure.

Additionally, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark is placed next to your account or the collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the contents to ensure users are safe.

How do I earn royalties on OpenSea?

However, as an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is believed to be a reasonable amount compared against others NFT marketplaces.

What cryptocurrency is accessible in OpenSea?

Ethereum (ETH) is frequently used on this site as well as numerous others to cater for the increasing number of crypto users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can make use of to access OpenSea.

What are the payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges on its website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you have be able to connect is your credit or Paypal for the transaction.

Does OpenSea have a desktop or mobile app?

As mentioned before, there is definitely an official mobile application from OpenSea available for both iOS as well as Android. Install it from their app store and then you can begin browsing through the collection right now!

The desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts and receive 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/).

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