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The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto coins. Markets have popped up across the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth a look.

If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.

So, hop on board and let’s see what you can do with OpenSea as well as examining 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. After, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Boca Hydro Nft Channels

The goal to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional costs. It also has additional functions which allow you to market your art without too many issues.

For registration, you won’t have to provide any personal information about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for most processes. It also operates with the Polygon blockchain to ensure lower costs and faster trading.

With these two kinds of blockchains that are available, you can choose 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. Every transaction will be conducted using this blockchain, so you should consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name to official art by an artist you admire. Anyone can become a seller, but it takes a while before anyone can become an established one.

There is a wide variety from the selection on OpenSea and you could become a part of the collection! You can create your own marketplace here, along with finding NFTs that you would like to purchase yourself.

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> > Click Here to Explore OpenSea < <

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 have heard of it but not exactly sure what it is. Let’s look at what an NFT is for any beginners in cryptocurrency.

One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a token that is non-fungible which is extremely individual and cannot be replaced. It could be a piece of rareness, such as mint-condition baseball trading cards or uncommon vinyl record.

There is no limit to what an NFT can be as it’s a non-fungible object that you sell online. In simpler terms, you could just imagine as an NFT as a digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs to your NFTs. It is a way of claiming the owner of the item or token that you have uploaded to the market place, but you’re selling it. Typically, this is official after you fill in 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 by visiting the store and making a collection to begin! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g. blockchain, payment tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.

You can watch and see how transactions progress from here on out to determine if OpenSea is the right marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs are available here?

At this point, you’re probably wondering what kind of NFTs can be found here and what kind of NFTs you can sell should you decide to go that route. The type of NFT it isn’t limited as there’s a variety of how you can go about it.

It is possible to sell trade cards, digital goods games, domain names, and even physical assets! Explore what you believe can bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that sets OpenSea from other companies. There are zero gas fees for using this feature when you create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t have to spend on additional fees.

Very few NFT marketplaces offer this feature, and it is great for you to receive high profit from your NFT collection.

Referral Program

The Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets, you can receive benefits by referring a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can earn more cash from this act.

Other NFT marketplaces do not have this kind of feature either, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.

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 at least browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are to you You can also trade your fiat currency for cryptocurrency using these platforms. Boca Hydro Nft Channels

You can swap your fiat currency using a the credit card, or Paypal via these reputable websites for cryptocurrency:

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

All of them have the option to exchange for ETH, which is the most common cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based around the ETH blockchain, all wallets with a connection to the same network are suitable for this site.

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

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency with credit cards. Boca Hydro Nft Channels

To know more about it, you can check their FAQs to get an overview of how you can get started and which other wallets are compatible with OpenSea.

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> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about 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.
  • Ideal for those who are new to the crypto market and NFTs.

Cons

  • Allows royalties of only 10% to artists (low royalties).
  • Cannot buy or sell via this mobile application.
  • Only supports cryptocurrency as its method of payment.
  • A Crypto digital wallet must be used for this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. However, overall, you will quickly regain that when you actively sell because there is no additional fee for it.

Frequently Asked Questions Boca Hydro Nft Channels

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance for selling their artwork online to receive cryptocurrency as their form of payment. It’s an excellent platform for artists using the platform to market NFTs because of its zero gas fees and low commission fees which you are required to pay.

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

Is OpenSea real and safe?

The short answer is yes! OpenSea has been a trusted marketplace since it was founded in 2018. Since its system is based on a blockchain that is secure, you can say that your transactions are safe and secure.

Additionally, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark is placed next to your account or any collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure that users are secure.

How do I earn royalties on OpenSea?

As an artist, you can receive only up to 10 percent of the royalties after you upload the NFT. This is thought to be quite low in comparison with other NFT marketplaces.

What cryptocurrency is offered in OpenSea?

Ethereum (ETH) can be frequently used on this site and other sites to provide more cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use to use OpenSea.

What are the payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency through reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal for the transaction.

Does OpenSea have a desktop/mobile app?

As previously mentioned There is an official mobile application from OpenSea available for both iOS or Android. Install it from their app store and you can start exploring the collection now!

There is also a desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts and receive alerts on any updates that affect 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/).

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