The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up all over the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth checking out.
If you’re interested in crypto you’ve probably heard of OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
So, hop on board and let’s explore the possibilities of OpenSea, along with checking 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. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Bondly Nft
The goal for OpenSea was to simply provide a platform/marketplace for artists to upload their commissions, without having to pay any additional charges. It also has additional functions which allow you to market your art without too many problems.
When it comes to registration, you don’t need to worry about giving any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for most processes. It also operates with the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains that are available, you can choose which one you want to upload your NFT on as a seller. This will ensure the security of your NFT and the people who want to buy it. All transactions will be made along with this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name, to a piece of art from an artist that you admire. Anyone can become a seller however, it takes time for anyone to become a reputable one.
There are a variety of NFTs of NFTs available at OpenSea and you can also be a part of this! You can create your own marketplace there, and also find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry, the term “NFT” has been going around so long on the internet that the majority of young people are familiar with it but not exactly sure what it means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things you can purchase your cryptocurrency includes an NFT. A NFT is a non-fungible currency that is very unique and can’t be substituted. This can be an item of any rareness, such as authentic baseball cards or a rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible object that you sell online. In simpler terms, you could just think of an NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You’re claiming the ownership of the particular item that you posted to market, as you’re selling it. Usually, this is recognized after you fill in all the necessary information about the NFT and finally add it on the market.
On OpenSea it’s a straightforward process to mint your NFTs by going to the store and making a collection to begin! Complete the correct and correct information regarding your NFT and then select what type of settings you’d like to use for it (e.g. blockchain or payment tokens). After that you are able to upload it to the internet if it’s in the limit of 100MB.
You can wait and observe the way transactions are handled from now to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably thinking about the kind of NFTs be purchased here and what kind of NFTs you can sell should you decide to go that route. The type of NFT it isn’t limited since there’s a broad range of options for how to do it.
You can be selling digital items, trading cards game assets domain names, also physical goods! Explore what you believe can yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what sets OpenSea from the other options. There are no gas costs for using this feature when you make and then sell the NFTs. This simply means that you’ll get the most profit when you sell because you won’t need to spend on any additional charges.
Very few NFT marketplaces have this feature, which is why this is great for you to make a huge profit from your NFT collection.
Referral Program
The Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets that offer benefits when you refer a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, letting you make more money from this act.
Other NFT marketplaces do not 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 app, but it’s mostly used to browse through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS in addition to Android. Even though you can’t buy or sell something, you can at least browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use, and you can exchange your fiat money for cryptocurrency through these platforms. Bondly Nft
You can exchange your fiat currency using a credit card or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
Each of them has the option to exchange for ETH which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all types of crypto, wallets are nevertheless more compatible than other. Since it is built around an ETH blockchain, wallets that share this network are appropriate for this site.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage and the ability to buy cryptocurrency using the credit card. Bondly Nft
To learn more about it to learn more, check out their FAQs to get the steps you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces 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
- Mobile apps are available for iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalty rates of up to 10% for artists (low royalties).
- You cannot buy or sell products through this mobile application.
- Only accepts cryptocurrency as a method of payment.
- The use of a Crypto wallet is required for this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Bondly Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s a great option for artists who want to use the platform to market NFTs due to its low gas fees and the low commission rate that you have to pay.
You can browse and purchase the vast array of digital products on this NFT marketplace and you must check it out!
Is OpenSea real and safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception at the end of the year of 2018. Since its system is based on a blockchain and is secured, it is safe to 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 will appear on your account or any collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure that users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you will get only 10 percent of the royalties when you have uploaded the NFT. This is believed to be reasonably low compared against other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as other sites to provide many more cryptocurrency users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use for OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS and Android. You can download it through their app store, and you can start exploring the collection right now!
A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts as well as 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/).
