The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto currency. Marketplaces are popping up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea can be one, and it’s worth looking into.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea before for a good reason. It’s one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
So, hop on board and let’s see the possibilities of OpenSea and also see the NFTs that you can see!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Augmented Reality Nft
The goal of OpenSea was to simply provide an online marketplace for artists to upload their commissions without any extra costs. There are additional features that allow you to sell your artwork without any difficulties.
When it comes to registration, you won’t have to give too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It is also based with the Polygon blockchain, which allows for low-cost and quicker trading.
With these two kinds of blockchains available you can pick which one you want to upload your NFT on as a seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions will be made along with this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless where you can exchange your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to official art by an artist you admire. Anyone can become a seller however, it takes a while before anyone can become a reputable one.
There’s a huge selection of NFTs available at OpenSea and you can become a part of the collection! You can create your own market there, and also find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market, the term “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things you can buy is an NFT. A NFT is a token that is non-fungible which is extremely exclusive and cannot be changed. This can be a piece 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 that you can sell on the internet. More straightforwardly, you can just imagine as an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots for your personal NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to the market place, but offering it for sale. Usually, this becomes official once you fill out all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and simply creating a collection to start! Input the appropriate and complete information about your NFT and then select what type of settings you’d like to use to use it with (e.g., blockchain or payments tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.
You can watch and see how the transactions go from now to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment, you’re probably wondering the kind of NFTs can be purchased here and what you can also sell if you decide to go that route. The type of NFT that you can purchase is unlimited as there’s a variety of ways to approach it.
It is possible to sell digital products, trading cards, game assets, domain names, and even physical assets! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that differentiates OpenSea from the other options. There are zero gas fees for using this feature to create and market NFTs. This simply means that you’ll be able to make the highest profits once you start selling because you won’t need to spend on any additional charges.
Not many NFT marketplaces provide this feature, and it is great for you to make a huge profit from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are benefits by referring your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, which means you can earn more money through this action.
Other NFT marketplaces don’t offer this feature This is a further benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used for perusing through the marketplace. You can’t buy or sell anything as you scroll through the list.
OpenSea’s mobile apps are available for both iOS as well as Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you, and you can exchange your fiat money for cryptocurrency on these platforms. Augmented Reality Nft
You can swap your fiat currency using a the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option of converting them into ETH, which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built on the ETH blockchain, any wallets which are part of that network will be suitable for the site.
Here is a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency with a credit card. Augmented Reality Nft
To know more about it You can go through their FAQs to get an overview of how you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Mobile apps available for iOS and Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty).
- Cannot buy or sell through our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- An Crypto account is needed for this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. But overall, you can quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Augmented Reality Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance for selling their artwork online and receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use it to sell NFTs due to its low gas fees and low commission fee rate you must pay.
You can browse and shop for an array of digital items on the NFT marketplace which is why you should definitely check it out!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year of 2018. Since its system is built on a blockchain and is secured, 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 on your account or collection you uploaded to reassure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are secure.
How can I earn royalties from OpenSea?
As an artist, you will receive only up to 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison against the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is commonly used on this site and many others to accommodate the increasing number of cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to use OpenSea.
What are the payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier There is an official mobile app by OpenSea that is available for iOS or Android. Install it from their app store and then you can begin exploring the collection right now!
A Desktop application that OpenSea can be downloaded via WebCatalog. In the desktop application you are able to manage multiple accounts and receive notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
