Cryptocurrency is booming right now and you’re probably wondering where you can invest your crypto currency. Marketplaces are popping up all over the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea is one of them and is worth looking into.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among cryptocurrency users because of its security and quick transactions.
Now hop aboard, and let’s see the possibilities of OpenSea and also see the NFTs available to view!
Before you continue, 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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Crop King Nft Setup
The aim for OpenSea was to provide an online marketplace for artists to easily upload their commissions without any extra fees. It has more functions which allow you to market your work without having to deal with many problems.
In terms of registration, you won’t have to give any personal information about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It is also based on the Polygon blockchain, which ensures lower costs and faster trading.
With these two types of blockchains it is possible to choose which one you would like to publish your NFT as an seller. This is to ensure the security of your NFT and the people who want to purchase it. All transactions will be made by using the blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything just a domain name to official art by an artist you admire. Anyone can sell however, it takes some time for anyone to be an established one.
There are a variety of NFTs in the collection at OpenSea and you could become a part of the collection! You can create your own market there, and also 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” is a term that has been used in recent times “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but not exactly sure what it means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible currency that is very individual and cannot be changed. It could be a piece of rareness like authentic baseball cards, or a uncommon vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible object that you sell online. More straightforwardly, you can simply imagine as an NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the ownership of the particular item you uploaded on market, as putting it up for sale. Usually, this becomes official after you fill in all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mint your NFTs by going to the store and simply making a collection to begin! Complete the correct and accurate information about your NFT and select the type of settings you want to use it with (e.g. blockchain and payments tokens). After that, you can finally upload it to the internet if it’s in the 100 MB limit.
You can watch and see how the transactions go from here on out to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about what kind of NFTs can be purchased here, and what you could also sell if you choose to pursue that route. The kind of NFT it is unlimited because there’s a wide range of options for how to do it.
It is possible to sell trade cards, digital goods, game assets, domain names, and even physical assets! Consider what you believe will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the other options. There are no gas costs when you use this feature when you mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces offer this feature, so this is a great way to receive high profit from your NFT collection.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets there are rewards when you refer your friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which allows you to earn more money through this action.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. You can’t buy or sell anything as you browse through the listings.
The mobile apps from OpenSea are accessible on both iOS as well as Android. While you’re not able to buy or sell something, you can at least explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use You can also exchange your fiat money for cryptocurrency on these platforms. Crop King Nft Setup
You can swap your fiat money via the credit card, or 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 converting them into ETH, which is the most common crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built mainly on the ETH blockchain, wallets with a connection to that network will be suitable for this site.
Here’s a list several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only and the ability to purchase cryptocurrency with credit cards. Crop King Nft Setup
To learn more about it to learn more, check out their FAQs to see a rundown of how you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Mobile apps available for iOS as well as Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty).
- It is not possible to buy or sell items on the mobile app.
- Only supports cryptocurrency as its method of payment.
- A Crypto account is needed for this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Crop King Nft Setup
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way for selling their artwork online to receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use for selling NFTs because of its zero gas costs and low commission fees that you have to pay.
You can browse and purchase a vast collection of digital items on the NFT marketplace and you must check it out!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was founded at the end of the year of 2018. Since the system it operates on is built on blockchain technology and is secured, it is safe to say that your transactions are protected and secured.
In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark will appear on your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the contents to ensure users are safe.
How do I earn royalties from OpenSea?
However, as an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is believed to be a reasonable amount compared against other NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) has been widely used on this site and numerous others to cater for more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize for OpenSea.
What are the payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned, there is definitely an official mobile app from OpenSea available for both iOS and Android. Download it at their respective app store and then you can begin exploring the collection right now!
A desktop application for OpenSea which can be downloaded from WebCatalog. In the desktop application, you can manage multiple accounts and get notifications on updates regarding your account when you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
