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Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto coins. Marketplaces are popping up across the internet, designed to purchase and sell NFTs via cryptocurrency! OpenSea is among them and is worth looking into.

If you’re familiar with cryptocurrency you’ve probably heard about OpenSea before for a good reason. It’s one of the largest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.

Get on board, and let’s see what you can do with OpenSea as well as examining the NFTs available to view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Crime Capias Nft

The goal for OpenSea was to offer artists with a marketplace/platform to upload commissions with no additional fees. There are additional features which allow you to market your art without too many issues.

When it comes to registration, you won’t have to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It also functions using the Polygon blockchain, which allows for the lowest cost and speediest trading.

There are two types of blockchains that are available you can pick which one you want to upload your NFT on as a 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 think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like 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 as simple as a domain name, to a piece of art by an artist you admire. Anyone can be a seller however, it takes a while for anyone to become an established seller.

There’s a huge selection from the selection at OpenSea and you can join in with the collection! You can start your own marketplace there, and also find NFTs you’d like to buy yourself.

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What is an NFT?

In a recent development for the crypto industry, the term “NFT” has been going around for so long on internet that a lot of millennials have heard of it but not exactly sure what it actually means. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.

One of the new things that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible currency that is exclusive and cannot be replaced. It could be an item of rareness like mint-condition baseball trading cards or a rare vinyl record.

There’s no limit to what an NFT can be since it’s a non-fungible item that you can sell on the internet. It is simpler to simply think of as an NFT to be a type of digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming the owner of the item or token you uploaded on the market place, but you’re offering it for sale. Usually, this becomes official once you fill out the correct information about the NFT and submit it for sale on.

On OpenSea It’s a very simple process to mint your NFTs by going to the store and then create a collection! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like 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 watch and see how transactions progress from now on to see if OpenSea is the right marketplace for you.

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What NFTs are available here?

At this point you’re probably thinking about the kind of NFTs can be found here and what you can also sell if you choose to go down that path. The kind of NFT it is unlimited since there’s a broad range of how you can do it.

It is possible to sell trade cards, digital goods games domain names, some physical items! Consider what you believe will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what differentiates OpenSea from the others. There are no gas costs when you use this feature when you create and market NFTs. This simply means that you’ll be able to make the highest profits once you sell because you won’t have to spend on any additional charges.

There aren’t many NFT marketplaces offer this feature, so this is a great way to earn a high return from your portfolio.

Referral Program

A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, letting you make more money from this act.

Other NFT marketplaces don’t offer the same feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell anything while you scroll through the list.

OpenSea’s mobile apps are available for both iOS in addition to Android. While you’re not able to buy or sell anything, you can still at least browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are for you to use to exchange your fiat money for cryptocurrency using these platforms. Crime Capias Nft

You can exchange your fiat money via 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 them have the option of exchange for ETH which is the standard cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, the wallets nevertheless more compatible than other. Since it is built mainly on an ETH blockchain, any wallets that share this network are appropriate for this site.

Here is a list of various crypto wallets that which you can use with 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 wallet has its own restrictions including simple registration, only mobile usage as well as the capability to buy cryptocurrency using the credit card. Crime Capias Nft

To know more about it You can go through their FAQs to see an overview of how you can start and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties 10% for artists (low royalties).
  • Cannot buy or sell via our mobile apps.
  • Only supports cryptocurrency as its type of payment.
  • The use of a Crypto account is needed for this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. But overall, you can quickly regain that when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Crime Capias Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to provide artists a platform to market their work online and receive cryptocurrency as a method of payment. It’s an ideal platform for artists using it to sell NFTs due to its low cost of gas and the low commission rate that you have to pay.

You can browse and purchase the vast array of digital items on the NFT marketplace, so you should go through it!

Is OpenSea legit & secure?

Answer: Yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in the year 2018. Because its system is built on blockchain technology and is secured, it is safe to declare that transactions are protected and secured.

Furthermore, as a seller, you will be verified after you have built up your credibility. A blue checkmark will be assigned next to your account or any collection you uploaded to reassure any customer. The team at OpenSea regularly checks the content to ensure users are protected.

How do I earn royalties from OpenSea?

Unfortunately, as an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is believed to be reasonably low compared with the other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) can be frequently used on this site and numerous others to cater for the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can utilize for OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea have a desktop or mobile app?

As mentioned before There is an official mobile app by OpenSea that is available for iOS as well as Android. You can download it through their app store, and you can start exploring the collection now!

A desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts as well as receive notifications on updates regarding your account from 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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