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Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto currency. Marketplaces are popping up all over the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea can be one, and it’s worth checking out.

If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.

So, hop on board and let’s see the possibilities of OpenSea and also see the NFTs available to view!

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Before you continue, 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 Cannaweed Changement Soupe Nft

The goal of OpenSea was to offer an online marketplace for artists to upload their commissions with no additional costs. It has more functions that let you sell your art without too many difficulties.

For registration, you won’t have to give too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized to carry out the majority of processes. It is also based with the Polygon blockchain, which ensures lower costs and faster trading.

With these two types of blockchains you can pick which one you would like to publish your NFT as seller. This will ensure the security of your NFT as well as 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 an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist you admire. Anyone can become a seller, but it takes a while for anyone to become a reputable one.

There is a wide variety in the collection on OpenSea and you could become a part of that! You can start your own personal market there, and also find NFTs you want to purchase yourself.

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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 internet that many millennials are familiar with it but not exactly sure what it is. Let’s look at what an NFT is for anyone who is new in cryptocurrency.

One of the newest things you can buy is an NFT. The NFT is a token that is non-fungible which is extremely exclusive and cannot be substituted. It can be an item of any rareness, such as rare baseball trading cards in mint condition, or a rare vinyl record.

There’s no limit to what an NFT can be as it’s a non-fungible thing that you sell on the internet. It is simpler to just think of as an NFT as a digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You are calling ownership over that particular token/item you uploaded on market, as selling it. Usually, this is recognized when you have filled in the correct information about the NFT and then add it on the market.

On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and create a collection! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain or payments tokens). After you’ve completed the process you are able to upload it to the internet if it’s in the 100 MB limit.

It is possible to wait and see how the transactions go from now to see if OpenSea is the marketplace for you.

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What NFTs can you find here?

So, at this point you’re probably asking yourself the kind of NFTs can be purchased here, and what you could also sell if you choose to go down that path. The kind of NFT it is unlimited because there’s a wide range of options for how to go about it.

You can be selling digital items, trading cards game assets domain names, even physical assets! Find out what you think will reap the best rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager features is one of the things that sets OpenSea from the other options. There are no gas costs for using this feature when you make and then sell the NFTs. This means you’ll get the most profit when you sell because you won’t have to spend on extra fees.

Not many NFT marketplaces provide this feature, so this is great for you to make a huge profit from your portfolio.

Referral Program

The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer benefits by referring your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the purchase amount, letting you make more money by this method.

Other NFT marketplaces don’t offer this feature and that’s another benefit OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.

The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. While you’re not able to buy or sell something, you can at least browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available to you to trade your fiat currency for cryptocurrency through these platforms. Cannaweed Changement Soupe Nft

You can convert the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and 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 can be described as an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Since it is built mainly using an ETH blockchain, any wallets that share this network are appropriate for this site.

Here’s a list of several crypto wallets which you can use with OpenSea:

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

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage and the ability to purchase cryptocurrency using the credit card. Cannaweed Changement Soupe Nft

For more information about the service You can go through their FAQs to get a rundown of how you can get started and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and cons here:

Pros

  • Mobile apps available for iOS as well as Android.
  • Smart contracts are used for transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties 10% for artists (low royalty rates).
  • It is not possible to buy or sell items via our mobile apps.
  • Only supports cryptocurrency as its method of payment.
  • The use of a Crypto wallet is required to use 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 percentage of commissions that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you are actively selling since there’s no additional cost for it.

Frequently Asked Questions Cannaweed Changement Soupe Nft

What is OpenSea?

OpenSea is an NFT marketplace that seeks to give artists a chance to market their work online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists who use it to sell NFTs because of its zero gas fees and the low commission rate which you are required to pay.

You can shop and browse a vast collection of digital goods in this NFT marketplace which is why you should definitely check it out!

Is OpenSea real and safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was founded at the end of the year of 2018. Because its system is built on blockchain technology that is secure, you can declare that transactions are protected and secured.

Additionally as a seller you can become verified once you build up your reputation. A blue checkmark will appear next to your account or the collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the content to ensure that users are secure.

How do I earn royalties from OpenSea?

As an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is considered to be reasonably low compared to other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as numerous others to cater for many more crypto users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can make use of to access OpenSea.

What are the payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop app?

As mentioned before, there is definitely an official mobile app by OpenSea for both iOS or Android. You can download it through their app store and you can start browsing through the collection right now!

A version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts as well as receive notifications on updates regarding your account while 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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