Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. Marketplaces are popping up across the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth checking out.
If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It’s one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and let’s explore what you can do with OpenSea and also see the NFTs available to view!
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.
OpenSea as an NFT Marketplace Can I Make An Nft
The aim for OpenSea was to provide artists with a marketplace/platform to upload commissions with no additional costs. It also has additional functions which allow you to market your artwork without any difficulties.
For 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 simple as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used to carry out the majority of processes. It also functions on the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you would like to publish your NFT as an 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 along with this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art from an artist you admire. Anyone can become a seller however it takes time for anyone to be an established one.
There are a variety of NFTs in the collection on OpenSea and you could join in with that! You can start your own marketplace here, along with finding NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t exactly sure what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible token which is extremely individual and cannot be replaced. It could be an item of rareness like mint-condition baseball trading cards or rare vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible object that you can sell online. It is simpler to just think of an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You’re claiming the ownership of the particular item that you have uploaded to the market place, but you’re offering it for sale. Usually, this is recognized after you fill in the correct information about the NFT and submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like to use it with (e.g., blockchain or money transfer tokens). After that you are able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how the transactions go from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably thinking about which kind of NFT can you shop for here and what you can also sell if you choose to pursue that route. The type of NFT it isn’t limited since there’s a broad range of options for how to do it.
It is possible to sell digital products, trading cards game assets, domain names, and also physical goods! Explore what you believe can yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager function is the one that differentiates OpenSea from the others. There are zero gas fees when you use this feature when you mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you don’t need to pay on additional fees.
Very few NFT marketplaces have this feature, and it is a great way to receive high profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets there are rewards when you refer someone else to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, which means you can earn more money from this act.
Other NFT marketplaces don’t have this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
OpenSea’s mobile apps are available for both iOS as well as Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. Can I Make An Nft
You can exchange your fiat money via your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option of converting them into ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built on an ETH blockchain, any wallets with a connection to the same network are suitable for this site.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only and the ability to purchase cryptocurrency with the credit card. Can I Make An Nft
To learn more about it to learn more, check out their FAQs to get the steps you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty).
- Cannot buy or sell via the mobile app.
- Only accepts cryptocurrency as a method of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can quickly regain that when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Can I Make An Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way for selling their artwork online to receive cryptocurrency as their form of payment. It’s a great option for artists who want to use for selling NFTs due to its no cost of gas and the low commission rate which you are required to pay.
You can shop and browse an array of digital goods in this NFT marketplace and you must go through it!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established in 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are safe and secure.
In addition as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on your account or collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure users are safe.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10 percent of the royalties after you upload the NFT. This is considered to be quite low in comparison against the other NFT marketplaces.
What is the most popular cryptocurrency available 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 that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can utilize to use 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 need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier There is an official mobile app from OpenSea available for both iOS or Android. You can download it through their app store and you can start exploring the collection right now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. On the desktop app, 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/).
