The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto currency. Markets have popped up all over the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth a look.
If you’re interested in crypto, you’ve probably heard of OpenSea prior to this for a valid reason. It’s one of the biggest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.
Now hop aboard, and discover the possibilities of OpenSea as well as examining 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. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace After Nft
The goal to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional fees. There are additional features that let you sell your art without too many issues.
When it comes to registration, you won’t have to worry about giving all of your personal details. All you have to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also operates with the Polygon blockchain to ensure lower costs and faster trading.
There are two types of blockchains available you can pick which one you would like to upload your NFT on as an seller. This will ensure the security of your NFT as well as those who would like to purchase it. All transactions will be made using this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to official art from an artist you admire. Anyone can become a seller however, it takes some time for anyone to become an established seller.
There is a wide variety in the collection at OpenSea and you could join in with this! You can set up 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 advancement for the crypto market, the term “NFT” has been going around so long on the internet that a lot of millennials are familiar with it , but not exactly sure what it means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible currency which is extremely individual and cannot be changed. It could be an item of rareness, such as 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 online. In simpler terms, you could just think of the NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. You are calling ownership over that particular token/item that you posted to market, as you’re putting it up for sale. Usually, this becomes official once you fill out the proper information regarding the NFT and finally submit it for sale on.
On OpenSea, it’s a simple process to mine your NFTs by going to the store and then making a collection to begin! Input the appropriate and correct information regarding your NFT and choose what kind of settings you’d like for it (e.g. blockchain, payment tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now on to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably asking yourself the kind of NFTs be purchased here, and what you could also sell if you decide to go down that path. The kind of NFT that you can purchase is indefinite because there’s a wide range of options for how to 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 sets OpenSea from the others. There’s no cost for gas when you utilize this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you start selling because you won’t have to spend on extra fees.
Not many NFT marketplaces offer this feature, which is why this can be a fantastic way to make a huge profit from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets that offer rewards when you refer your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can make more money through this action.
Other NFT marketplaces do not 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 to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you scroll through the list.
The mobile apps from OpenSea are accessible on the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell anything, you can still at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are to you, and you can trade your fiat currency for cryptocurrency on these platforms. After Nft
You can convert your fiat money via your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option of converting them into ETH that is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built mainly around an ETH blockchain, any wallets that share that network will be suitable for this site.
Here’s a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using the credit card. After Nft
For more information about the service You can go through their FAQs for the steps you can start and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as Android.
- Smart contracts are utilized 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 royalty rates of 10% to artists (low royalties).
- Cannot buy or sell via our mobile apps.
- Only supports cryptocurrency as its type of payment.
- A Crypto account is needed for this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions After Nft
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s an ideal platform for artists using the platform to market NFTs due to its low gas costs and low commission fees which you are required to pay.
You can browse and purchase an array of digital items on the NFT marketplace and you must take a look!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was established in the year 2018. Because its system is built on blockchain technology that is secure, you can declare that transactions are protected and secured.
Furthermore as a seller you’ll be verified when you have built up your credibility. A blue checkmark will be assigned next to your account or the collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the content to ensure that users are secure.
How can I earn royalties from OpenSea?
However, as an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be reasonably low compared to other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) can be widely utilized on this website and numerous others to cater for the increasing number of crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of for OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS and Android. Download it at their respective app store, and begin browsing through the collection right now!
The desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications about updates to 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/).
