Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto coins. Markets have popped up all over the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re familiar with cryptocurrency you’ve likely heard of OpenSea previously for a valid reason. It has become one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, you may want to watch 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 Cloning In A Nft
The aim for OpenSea was to simply provide an online marketplace for artists to upload commissions with no additional charges. It has more functions that let you sell your art without too many issues.
In terms of registration, you won’t have to provide any personal information about yourself. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology and is used for the majority of transactions. It also operates on the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains you can pick which one you want to publish your NFT as seller. This will ensure the security of your NFT and the people who want to buy 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 is like an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name, to a piece of art from an artist you admire. Anyone can sell however, it takes some time before anyone can become a reputable one.
There are a variety of NFTs in the collection at OpenSea and you can join in with the collection! You can start your own marketplace here, along with finding NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that the majority of young people are familiar with it but aren’t sure exactly what it means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can buy can be an NFT. An NFT is a token that is non-fungible which is extremely unique and can’t be changed. It can be a piece of rareness like rare baseball trading cards in mint condition or rare vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible thing that you can sell online. More straightforwardly, you can just think of the NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. It is a way of claiming ownership over that particular token/item you uploaded on 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 finally add it on the market.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and simply create a collection! Fill out the proper and complete information about your NFT and select the type of settings you’d like for it (e.g. blockchain and payment tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
It is possible to wait and see how the transactions go from here on out to see whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably asking yourself which kind of NFT you shop for here, and what you could also sell if you decide to go down that path. The kind of NFT it can be isn’t limited since there’s a broad range of options for how to approach it.
You can be selling trade cards, digital goods, game assets, domain names, and some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that sets OpenSea from the other options. There’s no cost for gas for using this feature to mint and sell NFTs. This simply means that you’ll get the most profit when you start selling because you don’t need to pay on extra fees.
Not many NFT marketplaces have this feature, so this can be a fantastic way to receive high profit from your NFT collection.
Referral Program
The Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces that offer benefits by referring your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, which means you can make more money through this action.
Other NFT marketplaces don’t offer the same feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly to browse the marketplace. You can’t buy or sell anything while you browse through the listing.
The mobile apps of OpenSea are available on both iOS as well as Android. While you’re not able to buy 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 convert your fiat money into cryptocurrency using these platforms. Cloning In A Nft
You can swap the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites 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 standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all types of cryptocurrency, the wallets nonetheless more compatible than other. Since it is built around an ETH blockchain, wallets that share that network will be suitable for this website.
Here’s a list different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, only mobile usage as well as the capability to purchase cryptocurrency using credit cards. Cloning In A Nft
To learn more about it You can go through their FAQs for a rundown of how you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- Cannot buy or sell via this mobile application.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Cloning In A Nft
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform for selling their artwork online to receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its no cost of gas and low commission fees which you are required to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace and you must go through it!
Is OpenSea legit & secure?
The short answer is yes! OpenSea is a reputable marketplace since its inception in the year 2018. Because its system is built on a blockchain that is secure, you can say that your transactions are secure and safe.
Additionally, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed to your account or any collection you uploaded to reassure any customer. The OpenSea team reviews regularly the contents to ensure users are safe.
How do I earn royalties on OpenSea?
As an artist, you will receive only up to 10% of the royalties once you upload the NFT. This is thought to be reasonably low compared to the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is commonly used on this site as well as many others to accommodate more cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to access OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop app?
As mentioned before, there is definitely an official mobile app from OpenSea available for both iOS or Android. You can download it through their app store and begin exploring the collection right now!
There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. In the desktop application 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/).
