Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth a look.
If you’re interested in crypto, you’ve probably heard of OpenSea before for a good reason. It’s one of the biggest and leading marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Airdrops Nft
The goal to create OpenSea was to simply provide an online marketplace for artists to upload their commissions without any extra 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 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 easy as that, without many hurdles as you walk into NFTs.
The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology and is used to carry out the majority of processes. It also functions on the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains available it is possible to choose which one you want to transfer your NFT to as seller. This will ensure the security of your NFT, along with those who would like to buy it. Every transaction will be conducted using this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name to official art by an artist you admire. Anyone can sell however it takes some time before anyone can become an established one.
There’s a huge selection from the selection of NFTs available at 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 you’d like to buy yourself.
What is an NFT?
In a recent advancement for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it , but aren’t sure exactly what it is. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways you can buy includes an NFT. A NFT is a token that is non-fungible that is very individual and cannot be replaced. It can be a piece of rareness like rare baseball trading cards in mint condition or a unique vinyl album.
There is no limit to what an NFT can be as it’s a non-fungible item that you can sell on the internet. It is simpler to simply think of the NFT being a virtual item paid via cryptocurrency only.
Minting is similar to calling for dibs for your personal NFTs. You are calling the owner of the item or token that you posted to the marketplace, and you’re offering it for sale. Usually, this becomes 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 visiting the store and simply create a collection! Input the appropriate and correct information regarding your NFT and select the type of settings you want for it (e.g. blockchain and payments tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see how transactions progress from now on to see whether OpenSea is the best marketplace for you.
What NFTs are available here?
At this point, you’re probably wondering which kind of NFT can be purchased here and what you can sell should you decide to go down that path. The kind of NFT it can be is indefinite because there’s a wide range of how you can approach it.
You can be selling digital items, trading cards games domain names, also physical goods! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what differentiates OpenSea from the other options. There’s no cost for gas for using this feature when you create and market NFTs. This means you’ll be able to make the highest profits once you begin selling since you don’t need to pay on any additional charges.
Not many NFT marketplaces provide this feature, and it can be a fantastic way to earn a high return from your portfolio.
A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces, you can receive benefits by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there, you’ll receive 2.50 percent of the purchase amount, which allows you to earn more money from this act.
Other NFT marketplaces don’t have the same feature, so that’s just another benefit OpenSea has over the other marketplaces.
There is an OpenSea mobile application, however it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible on both iOS in addition to Android. Even though you can’t buy or sell anything, you can still look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal You can also convert your fiat money into cryptocurrency using these platforms. Airdrops Nft
You can swap your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Bittrex and many more!
All of these have the option of exchange for ETH that is the standard crypto payment in OpenSea.
While OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are still more compatible with it than others. Since it is built on an ETH blockchain, all wallets with a connection to the same network are suitable for this website.
Here’s a list of several crypto wallets which you can use with OpenSea:
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, only mobile usage, and the function to purchase cryptocurrency using the credit card. Airdrops Nft
For more information about the service You can go through their FAQs to see the steps you can begin and what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and cons here:
- Mobile apps available for iOS as well as Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world and NFTs.
- Allows royalties 10% to artists (low royalties).
- Cannot buy or sell via our mobile apps.
- Only supports cryptocurrency as its method of payment.
- A Crypto digital wallet must be used to use this marketplace.
OpenSea is open to everyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this 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 Airdrops Nft
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use it to sell NFTs because of its zero cost of gas and low commission fees that you have to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace, so you should take a look!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded at the end of the year of 2018. Since its system is built on a blockchain that is secure, you can claim that your transactions are protected and secured.
Additionally, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on 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 protected.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10 percent of the royalties when you upload the NFT. This is believed to be a reasonable amount compared with other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is frequently utilized on this website and numerous others to cater for the increasing number of crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
These are the core cryptocurrencies you can use for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the exchange.
Does OpenSea has a mobile or desktop application?
As previously mentioned There is an official mobile app by 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!
There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts as well as 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/).