Big Time Nft Game

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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 sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth looking into.

If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.

Now hop aboard, and discover what you can do with OpenSea, along with checking the NFTs available to view!

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Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Big Time Nft Game

The purpose to create OpenSea was to offer an online marketplace for artists to upload their commissions, without having to pay any additional charges. It has more functions that allow you to sell your artwork without any problems.

When it comes to the registration process, you don’t have to provide too many details about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology which is utilized for most processes. It also operates with the Polygon blockchain to ensure lower costs and faster trading.

With these two types of blockchains, you can choose which one you’d like to upload your NFT on as seller. This is to ensure the security of your NFT, along with those who wish to purchase it. All transactions will be made along with this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name to an official artwork by an artist you admire. Anyone can become a seller however, it takes time before anyone can become an established seller.

There are a variety of NFTs of NFTs available on OpenSea and you can become a part of the collection! You can create your own personal market here, along with finding NFTs that you would like to purchase for yourself.

Big Time Nft Game

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What is an NFT?

In a recent development for the crypto market, the term “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 means. Let’s break down what an NFT is for anyone who is new in cryptocurrency.

One of the new things you can buy can be an NFT. A NFT is a non-fungible currency that is very unique and can’t be substituted. It can be an item of any rarity like authentic baseball cards, or a rare vinyl record.

There is no limit to what an NFT can be since it’s a non-fungible object that you sell on the internet. It is simpler to simply imagine as an NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You are calling the owner of the item or token you uploaded on the marketplace, and you’re selling it. Usually, this is recognized when you have filled in the correct information about the NFT and submit it for sale on.

On OpenSea, it’s a simple procedure to create your own NFTs by going to the store and simply create a collection! Input the appropriate and accurate information about your NFT and select the type of settings you’d like to use for it (e.g. blockchain or money transfer tokens). After you’ve completed the process you are able to upload it if it fits the 100 MB limit.

You can watch and see how the transactions go from now to see whether OpenSea is the right marketplace for you.

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What NFTs are available here?

So, at this point you’re probably asking yourself which kind of NFT you shop for here and what kind of NFTs you can sell should you decide to go that route. The type of NFT it is unlimited since there’s a broad range of ways to do it.

It is possible to sell trade cards, digital goods, game assets domain names, some physical items! Find out what you think will reap the best rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what sets OpenSea from other companies. There are zero gas fees for using this feature when you mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on extra fees.

Not many NFT marketplaces have this feature, so this is a great way to earn a high return from your portfolio.

Referral Program

The Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets there are rewards by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the purchase amount, which means you can earn more cash through this action.

Other NFT marketplaces do not have this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

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

OpenSea’s mobile apps are available for both iOS in addition to Android. Although you aren’t able to purchase or sell things, you can look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are to you, and you can trade your fiat currency for cryptocurrency on these platforms. Big Time Nft Game

You can swap your fiat currency using a credit card or Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and other things!

All of these have the option of converting them into ETH that is the primary cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea can be described as an NFT marketplace that is open to all types of crypto, wallets are still more compatible with it than other. Because it is based around the ETH blockchain, all wallets which are part of that network will be suitable for this site.

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

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage and the ability to purchase cryptocurrency using the credit card. Big Time Nft Game

To know more about it to learn more, check out their FAQs to get the steps you can get started and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:

Pros

  • Available as mobile apps that are compatible with iOS and Android.
  • Smart contracts are used for transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto industry and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • You cannot buy or sell products on our mobile apps.
  • Only accepts cryptocurrency as a form of payment.
  • A Crypto wallet is required for this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. But overall, you can quickly recover this amount if you are actively selling since there’s no additional cost for it.

Frequently Asked Questions Big Time Nft Game

What is OpenSea?

OpenSea is an NFT marketplace that is designed to offer artists a way for selling their artwork online and receive cryptocurrency as a method of payment. It’s a great platform for artists who use for selling NFTs due to its low gas fees and low commission fees you must pay.

You can shop and browse an array of digital items on the NFT marketplace and you must go through it!

Is OpenSea legitimate and safe?

The short answer is yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year of 2018. Since the system it operates on is built on blockchain technology, it is safe to say that your transactions are secure and safe.

Additionally as a seller you can become verified once you build up your reputation. A blue checkmark will be assigned on your account or collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the contents to ensure users are protected.

How can I earn royalties on OpenSea?

However, as an artist, you’ll receive only up to 10 percent of the royalties after you upload the NFT. This is considered to be quite low in comparison against other NFT marketplaces.

What are the cryptocurrency options accessible in OpenSea?

Ethereum (ETH) is frequently utilized on this website and many others to accommodate more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can utilize to use OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea have a desktop/mobile app?

As we mentioned earlier, there is definitely an official mobile application from OpenSea that is available for iOS and Android. Download it at their respective app store and begin exploring the collection now!

A Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application, you can manage multiple accounts as well as receive alerts on any updates that affect 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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