Cryptocurrency is booming right now and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the digital web designed to sell and buy NFTs using cryptocurrency! OpenSea is among them and is worth looking into.
If you’re well-versed in 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 among cryptocurrency users because of its safety and speedy transactions.
So, hop on board and let’s explore the possibilities of OpenSea, along with checking 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 overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Coldest Nft Game
The purpose of OpenSea was to provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional costs. There are additional features which allow you to market your artwork without any difficulties.
In terms of registration, you don’t need to provide all of your personal details. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system, and this is used for most processes. It also functions on the Polygon blockchain, which ensures low-cost and quicker trading.
With these two kinds of blockchains, you can choose which one you want to publish your NFT as a seller. This will ensure the security of your NFT as well as those who wish to purchase it. Every transaction will be conducted along with this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name to an official artwork from an artist that you admire. Anyone can sell however it takes some time before anyone can become an established one.
There is a wide variety in the collection of NFTs available at OpenSea, and you can 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?
A recent change in the crypto market, the term “NFT” has been going around for so long on internet that many millennials are familiar with it , but aren’t exactly sure what it means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can buy includes an NFT. The NFT is a non-fungible token that is unique and can’t be substituted. This can be an item of rareness like authentic baseball cards or uncommon vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible item that you can sell on the internet. More straightforwardly, you can just consider as an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots for your personal NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and selling it. Usually, this becomes official when you have filled in the proper information regarding the NFT and then upload it to the marketplace.
On OpenSea It’s a very simple procedure to create your own NFTs by going to the store and then creating a collection to start! Input the appropriate and correct information regarding your NFT and then select what type of settings you’d like to use for it (e.g. blockchain or payment tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the limit of 100MB.
You can watch and see the way transactions are handled from here on out to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point, you’re probably wondering what kind of NFTs can you shop for here, and what you could also sell if you decide to go that route. The kind of NFT it is unlimited because there’s a wide range of options for how to approach it.
You could be selling trade cards, digital goods, game assets, domain names, and even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that sets OpenSea from the other options. There are no gas costs for using this feature to make and then sell the NFTs. This means you’ll be able to make the highest profits once you begin selling since you won’t need to spend on extra fees.
Very few NFT marketplaces offer this feature, so this is great for you to receive high profit from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets that offer rewards by referring your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50% of the sale amount, which means you can earn more money from this act.
Other NFT marketplaces don’t offer this feature, so that’s just another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly to browse the marketplace. You can’t buy or sell anything as you browse through the listings.
The mobile apps of OpenSea are available on both iOS and Android. While you’re not able to buy or sell things, you can look through the options you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you You can also convert your fiat money into cryptocurrency on these platforms. Coldest Nft Game
You can exchange the fiat currency you have with a credit card or Paypal on these reliable websites 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 primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all types of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built on an ETH blockchain, all wallets that share this network are appropriate for the site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each has its own limitations including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Coldest Nft Game
To know more about it to learn more, check out their FAQs to get an overview of how you can get started and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts are utilized for 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 royalty rates).
- Cannot buy or sell via this mobile application.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly regain that when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Coldest Nft Game
What is OpenSea?
OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online and receive cryptocurrency as their form of payment. It’s an ideal platform for artists who use for selling NFTs due to its low cost of gas and low commission fee rate which you are required to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace, so you should go through it!
Is OpenSea legit & safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was founded in 2018. Since its system is built on blockchain technology and is secured, it is safe to claim that your transactions are safe and secure.
Additionally as a seller you’ll be verified when you build up your reputation. A blue checkmark will be assigned on your account or any collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure users are secure.
How can I earn royalties from OpenSea?
As an artist, you will get only 10 percent of the royalties when you upload the NFT. This is believed to be quite low in comparison to the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been commonly used on this site and other sites to provide more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier, there is definitely an official mobile application from OpenSea available for both iOS or Android. You can download it through their app store and then you can begin exploring the collection now!
The Desktop application that OpenSea which can be downloaded from WebCatalog. On the desktop app you can manage multiple accounts and 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/).
