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The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto-coins. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth looking into.

If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the biggest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.

So, hop on board and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!

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

OpenSea as an NFT Marketplace Bucaneers Lions Nft Bite

The goal for OpenSea was to offer an online marketplace for artists to easily upload their commissions without any extra charges. It has more functions which allow you to market your artwork without any difficulties.

For the registration process, you don’t have to worry about giving too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It is also based using the Polygon blockchain, which ensures lower costs and faster trading.

With these two kinds of blockchains available, you can choose which one you’d like to transfer your NFT to as seller. This ensures the safety of your NFT as well as those who would like to purchase it. All transactions are made using this blockchain, so you should consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name, to a piece of art by an artist you admire. Anyone can become a seller, but it takes a while for anyone to be a reputable one.

There is a wide variety from the selection on OpenSea and you can become a part of that! You can start your own personal market there, and also find NFTs that you would like to purchase yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the cryptocurrency industry the term “NFT” has been going around for so long on the internet that the majority of young people are familiar with it but not exactly sure what it means. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.

One of the newest things you can buy includes an NFT. An NFT is a token that is non-fungible that is very exclusive and cannot be changed. This can be a piece of rareness, such as mint-condition baseball trading cards or a rare vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. In simpler terms, you could simply imagine the NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs on your own NFTs. You are calling the owner of the item or token you uploaded on market, as selling it. Usually, this is recognized after you fill in the proper information regarding the NFT and then submit it for sale on.

On OpenSea It’s a very simple process to mint your NFTs by going to the store and creating a collection to start! Input the appropriate and accurate information about your NFT and then select what type of settings you’d like to use it with (e.g. blockchain and payments tokens). Once that’s all done then you’re able to upload it to the internet if it’s in the 100 MB limit.

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

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What NFTs can you get here?

At this point you’re probably thinking about the kind of NFTs be purchased here, and what you could also sell if you decide to go down that path. The type of NFT it is indefinite as there’s a variety of options for how to do it.

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

OpenSea: Collection Manager Feature

The collection Manager features is one of the things that separates OpenSea from the other options. There’s no cost for gas when you utilize 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 start selling because you won’t need to spend on any additional charges.

Very few NFT marketplaces have this feature, so this is great for you to receive high profit from your NFT collection.

Referral Program

The Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces that offer advantages when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which allows you to make more money through this action.

Other NFT marketplaces do not have this feature This is a further advantage 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 application, however it’s mostly used to browse the marketplace. It isn’t able to purchase or sell items as you scroll through the list.

The mobile apps from OpenSea are accessible on the two platforms of iOS and Android. Even though you can’t buy or sell something, you can explore the products you’re interested in while on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are at your disposal to trade your fiat currency for cryptocurrency using these platforms. Bucaneers Lions Nft Bite

You can convert your fiat money via the credit card, or Paypal on these reliable websites to exchange it for crypto:

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

All of these have the option of exchange for ETH, which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than others. Since it is built mainly around an ETH blockchain, all wallets that share the same network are suitable for this site.

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

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, only mobile usage as well as the capability to purchase cryptocurrency with credit cards. Bucaneers Lions Nft Bite

To know more about it, you can check their FAQs for an overview of how you can start and which other wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS and Android.
  • Smart contracts are utilized for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto world and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalty).
  • Cannot buy or sell via our mobile apps.
  • Only supports cryptocurrency as its type of payment.
  • An Crypto wallet is required for this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. However, overall, you will easily recover that amount when you sell regularly since there’s no extra charge for it.

Frequently Asked Questions Bucaneers Lions Nft Bite

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to offer artists a way to sell their works online to receive cryptocurrency as a form of payment. It’s an excellent platform for artists using the platform to market NFTs due to its low gas fees and the low commission rate you must pay.

You can shop and browse the vast array of digital goods in this NFT marketplace, so you should check it out!

Is OpenSea legitimate and safe?

The short answer is yes! OpenSea has been a reliable marketplace since it was established at the end of 2018. Because its system is based on a blockchain, it is safe to declare that transactions are protected and secured.

In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.

How do I earn royalties from OpenSea?

Unfortunately, as an artist, you can get only 10 percent of the royalties when you upload the NFT. This is believed to be quite low in comparison to other NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) has been widely utilized on this website and other sites to provide many more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can utilize for OpenSea.

Which are the accepted payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have 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 an official mobile app by OpenSea available for both iOS and Android. Install it from their app store and you can start exploring the collection now!

A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and receive 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/).

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