The cryptocurrency market is on the rise and you’re probably thinking what you can do with your crypto currency. There are numerous marketplaces popping up across the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth checking out.
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 most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s explore what you can do with OpenSea as well as examining what NFTs you can view!
Before you go on, 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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Aquaponik Nft
The goal of OpenSea was to offer artists with a marketplace/platform to easily upload their commissions, without having to pay any additional fees. It has more functions that let you sell your artwork without any issues.
When it comes to the registration process, you don’t have to provide all of your personal details. All you need to do is connect your crypto wallet and voila! You have an account on OpenSea! It can be as simple as that, without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based on the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains that are available, you can choose which one you’d like to upload your NFT on as seller. This will ensure the security of your NFT and those who wish to buy it. All transactions are made using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist you admire. Anyone can become a seller however, it takes a while before anyone can become an established one.
There are a variety of NFTs in the collection on OpenSea and you can become a part of this! You can start your own marketplace here, along with finding NFTs you want 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 so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it is. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency includes an NFT. A NFT is a non-fungible currency that is exclusive and cannot be changed. It can be an item of rareness, such as rare baseball trading cards in mint condition, or a uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible object you’re selling online. More straightforwardly, you can just consider an NFT as a digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal 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 when you have filled in the proper information regarding the NFT and submit it for sale on.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and simply create a collection! Complete the correct and complete information about your NFT and choose what kind of settings you want to use it with (e.g. blockchain or payment tokens). After you’ve completed the process, you can finally upload it, if it’s within the limit of 100MB.
You can watch and see the way transactions are handled from now on to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably asking yourself the kind of NFTs can you shop for here and what you can sell should you decide to go that route. The type of NFT that you can purchase is indefinite because there’s a wide range of ways to go about it.
You could be selling digital products, trading cards games, domain names, and also physical goods! Find out what you think will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the others. There’s no cost for gas when you utilize this feature to make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces offer this feature, and it is great for you to earn a high return from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces there are benefits by referring your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can make more money through this action.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage OpenSea has over the other marketplaces.
> > 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 as you browse through the listings.
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 browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use You can also exchange your fiat money for cryptocurrency on these platforms. Aquaponik Nft
You can convert the fiat currency you have with a the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
Each of them has the option to exchange for ETH that is the primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all types of cryptocurrency, the wallets nevertheless more compatible than other. 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 various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage and the ability to purchase cryptocurrency using the credit card. Aquaponik Nft
For more information about the service You can go through their FAQs for an overview of how you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Available as mobile apps for iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty).
- It is not possible to buy or sell items on this mobile application.
- Only supports cryptocurrency as its method of payment.
- The use of a Crypto account is needed to use this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll quickly regain that when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Aquaponik Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to give artists a chance to sell their works online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists who use the platform to market NFTs due to its no gas fees and low commission fee rate that you have to pay.
You can browse and shop for the vast array of digital products on this NFT marketplace and you must take a look!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a reliable marketplace since its inception in the year of 2018. Because its system is based on a blockchain, it is safe to claim that your transactions are protected and secured.
Additionally as a seller you will be verified after you build up your reputation. A blue checkmark is placed next to your account or any collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the content to ensure users are secure.
How do I earn royalties from OpenSea?
As an artist, you’ll be paid only 10 percent of the royalties after you have uploaded the NFT. This is thought to be a reasonable amount compared against other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been widely used on this site and other sites to provide many more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier There is an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store, and you can start exploring the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. On the desktop app you are able to 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/).
