Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. Markets have popped up all over 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 interested in crypto, you’ve likely heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
Now hop aboard, and discover the possibilities of OpenSea and also see the NFTs available to view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Are Nft Systems Ok In The Rain?
The aim to create OpenSea was to offer artists with a marketplace/platform to upload commissions with no additional charges. It also has additional functions which allow you to market your artwork without any difficulties.
For registration, you won’t have to provide all of your personal details. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that and 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 marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also functions using the Polygon blockchain to ensure low-cost and quicker trading.
There are two types of blockchains that are available, you can choose which one you would like to upload your NFT on as seller. This ensures the safety of your NFT as well as the people who want to purchase it. Every transaction will be conducted along with this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist that you admire. Anyone can become a seller, but it takes a while for anyone to become an established one.
There are a variety of NFTs from the selection of NFTs available at OpenSea and you can also be a part of the collection! You can set up your own marketplace on this site, as well as find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry,”NFT” is a term that has been used in recent times “NFT” has been going around 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 any beginners in the field of cryptocurrency.
One of the new things you can buy includes an NFT. A NFT is a token that is non-fungible which is extremely unique and can’t be changed. It can be an item of rareness like mint-condition baseball trading cards or uncommon vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. More straightforwardly, you can simply imagine an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item you uploaded on market, as you’re putting it up for sale. Usually, this is recognized 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 mine your NFTs by going to the store and simply create a collection! Complete the correct and complete information about your NFT and then select what type of settings you’d like to use it with (e.g. blockchain, money transfer tokens). After that then you’re able to upload it if it fits the 100 MB limit.
You can watch and see the way transactions are handled from now to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about what kind of NFTs can you shop for here, and what you could also sell if you decide to pursue that route. The kind of NFT that you can purchase is unlimited as there’s a variety of how you can do it.
You can be selling digital items, trading cards games domain names, also physical goods! Find out what you think will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that differentiates OpenSea from other companies. There’s no cost for gas when you use this feature to make and then sell the NFTs. This means you’ll receive the maximum profits when you sell because you won’t need to spend on additional fees.
Not many NFT marketplaces have this feature, which is why this can be a fantastic way to make a huge profit from your portfolio.
Referral Program
This Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces, you can receive rewards by referring someone else to OpenSea! If you encourage a friend join OpenSea and 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 have this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell things, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. Are Nft Systems Ok In The Rain?
You can convert your fiat currency using a credit card or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option to exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built on an ETH blockchain, all wallets with a connection to that network will be suitable for this website.
Here is a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency using a credit card. Are Nft Systems Ok In The Rain?
To learn more about it to learn more, check out their FAQs to get a rundown of how you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- It is not possible to buy or sell items via this mobile application.
- Only accepts cryptocurrency as a type of payment.
- The use of a Crypto wallet is required to access this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Are Nft Systems Ok In The Rain?
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way to sell their works online to receive cryptocurrency as their form of payment. It’s a great platform for artists using the platform to market NFTs because of its zero gas costs 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 legit & secure?
The short answer is yes! OpenSea has been a reliable marketplace since its inception in the year of 2018. Since the system it operates on is built on blockchain technology, it is safe to claim that your transactions are secure and safe.
In addition as a seller you will be verified after you build up your reputation. A blue checkmark will be assigned to your account or any collection you’ve uploaded to ensure the safety of any customer. OpenSea’s team regularly reviews the content to ensure that users are protected.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10% of the royalties once you upload the NFT. This is believed to be quite low in comparison to others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be frequently used on this site and 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 core cryptocurrencies you can use to use OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned, there is definitely an official mobile application from OpenSea for both iOS as well as Android. Download it at their respective app store, and then you can begin exploring the collection now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. In the desktop application you can 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/).
