Aero/Nft Systems

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The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth checking out.

If you’re interested in crypto, you’ve probably heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces for cryptocurrency users because of its security and rapid transactions.

Get on board, and let’s see the possibilities of OpenSea and also see the NFTs available to view!

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Before you continue, 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 our article for a more comprehensive review.

OpenSea as an NFT Marketplace Aero/Nft Systems

The purpose of OpenSea was to simply provide a platform/marketplace for artists to upload commissions with no additional costs. It has more functions which allow you to market your art without too many issues.

When it comes to the registration process, you don’t have to worry about giving all of your personal details. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used to carry out the majority of processes. It also operates with the Polygon blockchain, which allows for low-cost and quicker trading.

With these two kinds of blockchains available it is possible to choose which one you want to transfer your NFT to as a seller. This is to ensure the security of your NFT and the people who want to buy it. All transactions will be made by using the blockchain, which is why you need to think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art from an artist that you admire. Anyone can sell however, it takes some time for anyone to be an established one.

There’s a huge selection in the collection of NFTs available at OpenSea and you can become a part of the collection! You can create your own market on this site, as well as find NFTs you’d like to buy for yourself.

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What is an NFT?

A recent change in the cryptocurrency industry, the term “NFT” has been going around so long on the internet that the majority of young people have heard of it but aren’t exactly sure what it means. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.

One of the latest ways you can purchase your cryptocurrency is an NFT. The NFT is a token that is non-fungible that is exclusive and cannot be replaced. This can be an item of any rareness like rare baseball trading cards in mint condition or a rare vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. More straightforwardly, you can simply think of an NFT being a virtual collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You are calling ownership over that particular token/item you uploaded on the market place, but putting it up 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 straightforward process to mint your NFTs. All you have to do is visit the store and then making a collection to begin! Fill out the proper and complete information about your NFT and choose what kind of settings you want to use it with (e.g. blockchain and money transfer tokens). After that, you can finally upload it if it fits the 100 MB limit.

You can watch and see how the transactions go from here on out to determine whether OpenSea is the right marketplace for you.

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What NFTs can you get here?

In this moment, you’re probably wondering what kind of NFTs be found here and what kind of NFTs you can sell should you decide to go that route. The kind of NFT that you can purchase is unlimited because there’s a wide range of how you can approach it.

It is possible to sell digital items, trading cards games, domain names, and even physical assets! Find out what you think will reap the best rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that differentiates OpenSea from the other options. There are no gas costs for using this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you sell 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 portfolio.

Referral Program

A Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets that offer rewards by referring a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which allows you to earn more cash from this act.

Other NFT marketplaces don’t offer this kind of feature either and that’s another advantage OpenSea has over the other marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listings.

The mobile apps from OpenSea are accessible on both iOS in addition to Android. While you’re not able to buy or sell things, you can browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available to you, and you can convert your fiat money into cryptocurrency using these platforms. Aero/Nft Systems

You can exchange 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 more!

All of them have the option of converting them into ETH, which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built mainly on an ETH blockchain, any wallets that share that network will be suitable for this site.

Here’s a list several crypto wallets you can use in 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 wallet has its own restrictions including simple registration, mobile-only usage and the ability to purchase cryptocurrency using credit cards. Aero/Nft Systems

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

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS and 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 royalty rates of 10% for artists (low royalty rates).
  • Cannot buy or sell through this mobile application.
  • Only accepts cryptocurrency as a type of payment.
  • An Crypto digital wallet must be used to access 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 that all buyers on the marketplace. In the end, you’ll easily recover that amount when you actively sell because there is no additional fee for it.

Frequently Asked Questions Aero/Nft Systems

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to offer artists a way for selling their artwork online and receive cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no cost of gas and the low commission rate you must pay.

You can browse and purchase a vast collection of digital items on the NFT marketplace which is why you should definitely go through it!

Is OpenSea real and 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. Since the system it operates on is built on blockchain technology 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 is placed on your account or collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you will get only 10 percent of the royalties after you upload the NFT. This is considered to be reasonably low compared to other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) is frequently used on this site as well as other sites to provide the increasing number of cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can use for OpenSea.

Which are the accepted payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its 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 app?

As previously mentioned there’s an official mobile app from OpenSea available for both iOS as well as Android. Download it at their respective app store and begin browsing through the collection right now!

There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts as well as 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/).

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