Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto currency. Marketplaces are popping up all over the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its safety and speedy transactions.
So, hop on board and let’s explore what you can do with OpenSea, along with checking what NFTs you can view!
Before you continue, 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 9Gag Nft
The aim for OpenSea was to provide an online marketplace for artists to upload their commissions, without having to pay any additional charges. It also has additional functions that let you sell your work without having to deal with many issues.
For registration, you won’t have to provide too many details about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known 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 most processes. It is also based with the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains that are available it is possible to choose which one you’d like to publish your NFT as an seller. This will ensure the security of your NFT and the people who want to buy it. Every transaction will be conducted using this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art by an artist you admire. Anyone can become a seller however it takes a while before anyone can become an established seller.
There is a wide variety from the selection of NFTs available at OpenSea, and you can join in with this! You can create your own personal market there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto 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 look at what an NFT is for anyone who is new in cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. A NFT is a token that is non-fungible that is unique and can’t be changed. This can be an item of rareness, such as rare baseball trading cards in mint condition or a rare vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible item you’re selling online. More straightforwardly, you can simply imagine the NFT being a virtual collectible paid via 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 market, as you’re selling it. Typically, this is official after you fill in the proper information regarding the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward process to mint your NFTs by going to the store and creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you want for it (e.g. blockchain or money transfer tokens). After that then you’re 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 now to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably thinking about the kind of NFTs can be purchased here and what you can sell should you decide to go down that path. The kind of NFT it can be isn’t limited because there’s a wide range of how you can approach it.
You can be selling digital products, trading cards games, domain names, and some physical items! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that differentiates OpenSea from the others. There’s no cost for gas when you use this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on any additional charges.
Very few NFT marketplaces provide this feature, which is why this is a great way to earn a high return from your NFT collection.
Referral Program
The Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces there are advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll earn 2.50% of the sale amount, which means you can earn more cash by this method.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage 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 for perusing through the marketplace. You can’t buy or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS as well as Android. While you’re not able to buy or sell something, 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 convert your fiat money into cryptocurrency using these platforms. 9Gag Nft
You can swap 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 many more!
All of them have the option of converting them into ETH that is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all kinds of crypto, wallets are still more compatible with it than others. Since it is built around an ETH blockchain, all wallets with a connection to this network are appropriate for this site.
Here is a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, mobile-only usage, and the function to buy cryptocurrency using credit cards. 9Gag Nft
For more information about the service You can go through their FAQs to see an overview of how you can get started and which other 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 cons here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty rates).
- Cannot buy or sell through this mobile application.
- Only accepts cryptocurrency as a type of payment.
- A Crypto account is needed for this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions 9Gag Nft
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way for selling their artwork online to receive cryptocurrency as a method of payment. It’s an excellent platform for artists who use for selling NFTs due to its no gas fees and low commission fee rate you must pay.
You can browse and shop for a vast collection of digital products on this NFT marketplace and you must take a look!
Is OpenSea legit & is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since it was founded on the 1st of December in the year of 2018. Because its system is based on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.
In addition, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned next to your account or collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison to others NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) can be commonly utilized on this website and other sites to provide many more cryptocurrency users. These are other cryptos that you can buy on 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. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before there’s an official mobile application from OpenSea available for both iOS or Android. You can download it through their app store, and you can start browsing through the collection right now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. On the desktop app you can manage multiple accounts and receive notifications about updates to 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/).
