The crypto currency market is in a boom right now and you’re probably thinking what you can do with your crypto-coins. Marketplaces are popping up all over the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea can be one and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid transactions.
So, hop on board and discover the possibilities of OpenSea and also see 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 review. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Cannabis Nft Grow Systems
The aim of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions with no additional fees. There are additional features that let you sell your art without too many issues.
When it comes to the registration process, you don’t have to provide 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 easy as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology and is used for most processes. It is also based with the Polygon blockchain, which ensures lower costs and faster trading.
With these two kinds of blockchains that are available you can pick which one you would like to upload your NFT on as a seller. This will ensure the security of your NFT and those who would like to purchase it. All transactions will be made by using the blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name to an official artwork by an artist you admire. Anyone can be a seller however, it takes a while before anyone can become an established one.
There is a wide variety in the collection at OpenSea and you could also be a part of this! You can start your own marketplace on this site, as well as find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it is. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the new things you can buy is an NFT. A NFT is a token that is non-fungible that is very individual and cannot be changed. This can be an item of any rareness like mint-condition baseball trading cards, or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible thing that you can sell online. More straightforwardly, you can simply consider the 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. It is a way of claiming the owner of the item or token that you have uploaded to the market place, but putting it up for sale. Typically, this is official once you fill out the correct information about the NFT and add it on the market.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and creating a collection to start! Fill out the proper and correct information regarding your NFT and choose what kind of settings you want for it (e.g. blockchain, money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the limit of 100MB.
You can wait and observe how transactions progress from now on to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering which kind of NFT can you shop for here, and what you could also sell if you choose to go that route. The type of NFT that you can purchase isn’t limited as there’s a variety of how you can go about it.
You could be selling digital products, trading cards games domain names, some physical items! Find out what you think will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that separates OpenSea from other companies. There are no gas costs when you use this feature to mint and sell NFTs. This means you’ll be able to make the highest profits once you start selling because you don’t need to pay on additional fees.
Not many NFT marketplaces have this feature, so this is a great way to earn a high return from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces that offer benefits when you refer a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there, you’ll receive 2.50% of the sale amount, which means you can make more money by this method.
Other NFT marketplaces don’t offer 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 for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. Even though you can’t buy or sell things, you can at least explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available to you, and you can trade your fiat currency for cryptocurrency using these platforms. Cannabis Nft Grow Systems
You can exchange your fiat currency using a credit card or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built on an ETH blockchain, any wallets which are part of the same network are suitable for this site.
Here’s a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations like easy registration, use on mobile devices only, and the function to buy cryptocurrency using the credit card. Cannabis Nft Grow Systems
To learn more about it You can go through their FAQs to get a rundown of how you can start and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalty rates of up to 10% for artists (low royalty rates).
- Cannot buy or sell through this mobile application.
- Only supports cryptocurrency as its form of payment.
- An Crypto wallet is required to use this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Cannabis Nft Grow Systems
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to give artists a chance for selling their artwork online to receive cryptocurrency as a form of payment. It’s a great platform for artists using it to sell 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 goods in this NFT marketplace which is why you should definitely go through it!
Is OpenSea legitimate and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established in the year 2018. Since its system is based on a blockchain, it is safe to claim that your transactions are safe and secure.
In addition, as a seller, you can become verified once you build up your reputation. A blue checkmark will appear to your account or the collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are safe.
How can I earn royalties on OpenSea?
As an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be quite low in comparison to others NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) can be frequently used on this site as well as other sites to provide more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to use OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier, there is definitely an official mobile application from OpenSea that is available for iOS as well as Android. Download it at their respective app store, and begin exploring the collection now!
The desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts as well as receive notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
