The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the digital web designed to purchase and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth looking into.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency users because of its safety and speedy transactions.
Now hop aboard, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Aavegotchi Nft
The purpose to create OpenSea was to provide a platform/marketplace for artists to easily upload their commissions without any extra costs. There are additional features which allow you to market your art without too many problems.
For the registration process, you don’t have to give all of your personal details. All you have to connect your crypto 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 widely-used cryptocurrency to use 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 on the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you want to transfer your NFT to as a seller. This will ensure the security of your NFT and those who wish to buy it. All transactions are made along with this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like 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 that you admire. Anyone can be a seller however, it takes a while for anyone to become a reputable one.
There’s a huge selection from the selection on OpenSea, and you can also be a part of the collection! You can create your own personal market on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people have heard of it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency includes an NFT. The NFT is a token that is non-fungible that is very exclusive and cannot be substituted. It can be an item of rareness, such as mint-condition baseball trading cards or unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible thing you’re selling on the internet. It is simpler to simply think of the NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. You are calling ownership over that particular token/item you uploaded on the marketplace, and selling it. Typically, this is official once you fill out all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mint your NFTs by visiting the store and then making a collection to begin! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like to use it with (e.g. blockchain, money transfer tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the limit of 100MB.
You can watch and see the way transactions are handled from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point, you’re probably wondering which kind of NFT you shop for here, and what you could also sell if you decide to go that route. The kind of NFT it can be is unlimited as there’s a variety of how you can go about it.
You could be selling digital products, trading cards games, domain names, and even physical assets! Explore what you believe can yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from other companies. There are no gas costs when you use this feature when you create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you start selling because you won’t have to spend on extra fees.
Very few NFT marketplaces offer this feature, so this is great for you to receive high profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets there are benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can make more money through this action.
Other NFT marketplaces don’t offer the same feature, so that’s just another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. You can’t buy or sell anything while you scroll through the list.
OpenSea’s mobile apps are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal, and you can exchange your fiat money for cryptocurrency using these platforms. Aavegotchi Nft
You can convert your fiat currency using a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of these have the option of converting them into ETH which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace that is open to all forms of crypto, wallets are nevertheless more compatible than other. Since it is built mainly on the ETH blockchain, any wallets which are part of that network will be suitable for this site.
Here’s a list different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage and the ability to purchase cryptocurrency with credit cards. Aavegotchi Nft
To know more about it You can go through their FAQs to see the steps you can start 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 pros here:
Pros
- Mobile apps available for iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty rates).
- You cannot buy or sell products via this mobile application.
- Only accepts cryptocurrency as a method of payment.
- An Crypto wallet is required for this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. However, overall, you will quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Aavegotchi Nft
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way to sell their works online and receive cryptocurrency as a form of payment. It’s a great platform for artists using for selling NFTs because of its zero gas fees and low commission fee rate that you have to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace and you must check it out!
Is OpenSea legitimate and safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since the system it operates on is built on blockchain technology, it is safe to say that your transactions are safe and secure.
Furthermore as a seller you will be verified after you build up your reputation. A blue checkmark will appear to your account or any collection you’ve uploaded to ensure the safety of anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are protected.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is believed to be reasonably low compared to other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) can be frequently used on this site and many others to accommodate the increasing number of cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize for OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned There is an official mobile app by OpenSea available for both iOS and Android. Install it from their app store and then you can begin browsing through the collection right now!
There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. In the desktop application, you can manage multiple accounts and receive alerts on any updates that affect 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/).
