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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto-coins. Marketplaces are popping up all over the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea can be one and is worth looking into.

If you’re familiar with cryptocurrency you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.

Now hop aboard, and discover the possibilities of OpenSea, along with checking what NFTs you can view!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Aquaponic Crops Nft

The goal of OpenSea was to simply provide artists with a marketplace/platform to upload commissions with no additional charges. It has more functions that let you sell your art without too many difficulties.

When it comes to registration, you don’t need 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 on OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency used in 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 also operates with the Polygon blockchain, which ensures low-cost and quicker trading.

There are two types of blockchains available, you can choose which one you would like to upload your NFT on as a seller. This ensures the safety of your NFT and the people who want to buy it. Every transaction will be conducted using this blockchain, so you should think about where you should 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. It is possible to purchase anything the simplest domain name to an official artwork from an artist you admire. Anyone can be a seller however it takes some time for anyone to be an established seller.

There are a variety of NFTs from the selection on OpenSea, and you can become a part of the collection! You can start your own market here, along with finding NFTs you’d like to buy yourself.

Aquaponic Crops Nft

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What is an NFT?

A recent change in the crypto industry,”NFT” is a term that has been used in recent times “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 actually means. Let’s take a look at what NFT is for any beginners in cryptocurrency.

One of the new things you can purchase your cryptocurrency can be an NFT. A NFT is a non-fungible currency which is extremely exclusive and cannot be substituted. It could be a piece of rarity like rare baseball trading cards in mint condition or rare vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible object you’re selling online. More straightforwardly, you can simply consider as an NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs on your own NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and you’re putting it up for sale. Usually, this becomes official once you fill out the correct information about the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs by going to the store and simply creating a collection to start! Complete the correct and correct information regarding your NFT and choose what kind of settings you want to use it with (e.g., blockchain, payment tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.

It is possible to wait and see the way transactions are handled from now to see whether OpenSea is the right marketplace for you.

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What NFTs can you find here?

So, at this point, you’re probably wondering what kind of NFTs can be purchased here and what you can also sell if you decide to go down that path. The type of NFT that you can purchase is indefinite because there’s a wide range of how you can approach it.

It is possible to sell trade cards, digital goods, game assets, domain names, and some physical items! Consider what you believe will bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that separates OpenSea from other companies. There are zero gas fees for using this feature to mint and sell NFTs. This simply means that you’ll receive the maximum profits when you start selling because you won’t have to spend on any additional charges.

There aren’t many NFT marketplaces offer this feature, and it is great for you to make a huge profit from your collection.

Referral Program

The Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces, you can receive rewards by referring someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, letting you earn more cash from this act.

Other NFT marketplaces don’t offer the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell anything as you scroll through the list.

OpenSea’s mobile apps are available on both iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still look through the options you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are at your disposal You can also trade your fiat currency for cryptocurrency through these platforms. Aquaponic Crops Nft

You can swap your fiat currency using a credit card or Paypal on these reliable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and more!

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

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are nevertheless more compatible than others. Because it is based on an ETH blockchain, all wallets that share the same network are suitable for this website.

Here’s a list several crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, use on mobile devices only, and the function to purchase cryptocurrency with the credit card. Aquaponic Crops Nft

To know more about it, you can check their FAQs to see a rundown of how you can get started and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and cons here:

Pros

  • Available as mobile apps 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.

Cons

  • Allows royalty rates of 10% for artists (low royalty).
  • You cannot buy or sell products on the mobile app.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto digital wallet must be used for this marketplace.

Pricing

OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. But overall, you can quickly regain that when you actively sell because there’s no extra charge for it.

Frequently Asked Questions Aquaponic Crops Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to give artists a chance to market their work online, and to accept cryptocurrency as their form of payment. It’s an excellent platform for artists who use it to sell NFTs due to its low cost of gas and low commission fees which you are required to pay.

You can shop and browse an array of digital goods in this NFT marketplace which is why you should definitely go through it!

Is OpenSea legit & is it safe?

Answer: Yes! OpenSea has been a reliable marketplace since it was established at the end of 2018. Since its system is built on a blockchain, it is safe to say that your transactions are protected and secured.

Furthermore, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed next to your account or collection that you have uploaded to assure any customer. The OpenSea team reviews regularly the contents to ensure users are safe.

How do I earn royalties from OpenSea?

However, as an artist, you can be paid only 10% of the royalties once you upload the NFT. This is thought to be a reasonable amount compared to the other NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) is commonly used on this site and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can use to access OpenSea.

What are the payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you have to do is connect your credit card or Paypal for the transaction.

Does OpenSea has a mobile or desktop app?

As we mentioned earlier There is an official mobile application from OpenSea for both iOS as well as Android. Download it at their respective app store and you can start browsing through the collection right now!

A Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts and receive notifications on updates regarding your account from 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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