Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping 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 about OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
So, hop on board and let’s explore what you can do with OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Can I Grow Strawberries In A Horizontal Nft
The goal of OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions with no additional costs. It also has additional functions that allow you to sell your work without having to deal with many problems.
In terms of the registration process, you don’t have to give too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based with the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains available it is possible to choose which one you would like to upload your NFT on as seller. This is to ensure the security of your NFT, along with those who would like to purchase it. Every transaction will be conducted along with this blockchain, and you must think about where to 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 official art from an artist you admire. Anyone can become a seller however it takes some time for anyone to become an established seller.
There is a wide variety in the collection of NFTs available at OpenSea and you can also be a part of the collection! You can set up your own market there, and also find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry the term “NFT” has been going around for so long on the internet that many millennials have heard of it but aren’t exactly sure what it actually means. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible token which is extremely unique and can’t be changed. It can be an item of rareness, such as rare baseball trading cards in mint condition or unique vinyl album.
There is no limit to what an NFT can be since it’s a non-fungible item you’re selling online. More straightforwardly, you can simply imagine an NFT as a digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. It is a way of claiming ownership over that particular token/item you uploaded on market, as you’re selling it. Usually, this is recognized when you have filled in the correct information about the NFT and then submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and then creating a collection to start! Complete the correct and correct information regarding your NFT and choose what kind of settings you want for it (e.g., blockchain and money transfer tokens). After that then you’re able to upload it to the internet if it’s in the 100 MB limit.
It is possible to wait and see the way transactions are handled from here on out to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point you’re probably thinking about which kind of NFT you shop for here, and what you could also sell if you decide to go that route. The type of NFT it is indefinite as there’s a variety of how you can approach it.
It is possible to sell digital items, trading cards game assets, 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 features is one of the things that sets OpenSea from the other options. There are no gas costs for using this feature to 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 any additional charges.
There aren’t many NFT marketplaces offer this feature, which is why this is great for you to make a huge profit from your NFT collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces, you can receive rewards when you refer a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50% of the sale amount, letting you make more money by this method.
Other NFT marketplaces don’t offer this feature, so that’s just another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
The mobile apps of OpenSea are available on both iOS as well as Android. Although you aren’t able to purchase or sell something, you can explore the products you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency on these platforms. Can I Grow Strawberries In A Horizontal Nft
You can exchange your fiat currency using a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of these have the option of converting them into ETH, which is the most common crypto payment in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, the wallets still more compatible with it than others. Since it is built mainly around the ETH blockchain, all wallets with a connection to this network are appropriate for this website.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Can I Grow Strawberries In A Horizontal Nft
To learn more about it to learn more, check out their FAQs to get a rundown of how you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps available for iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- Cannot buy or sell via the mobile app.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto account is needed to use this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Can I Grow Strawberries In A Horizontal Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform to sell their works online and receive cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs because of its zero cost of gas and low commission fee rate you must pay.
You can shop and browse an array of digital items on the NFT marketplace and you must check it out!
Is OpenSea real and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception at the end of the year 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are safe and secure.
Furthermore, as a seller, you will be verified after you have built up your credibility. A blue checkmark will appear on your account or any collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are protected.
How do I earn royalties from OpenSea?
As an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is believed to be a reasonable amount compared against others NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) is widely utilized on this website and numerous others to cater for the increasing number of crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier, there is definitely an official mobile app by OpenSea available for both iOS or Android. You can download it through their app store and begin exploring the collection right now!
A Desktop application that OpenSea can be downloaded via WebCatalog. With the desktop application you can manage multiple accounts and get notifications on updates regarding 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/).
