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Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth a look.

If you’re interested in crypto, you’ve probably heard about OpenSea prior to this for a valid reason. It’s now 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 see the possibilities of OpenSea and also see 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 overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Cropking Nft Growing Channel

The goal for OpenSea was to offer an online marketplace for artists to upload their commissions, without having to pay any additional costs. There are additional features that let you sell your artwork without any problems.

When it comes to registration, you don’t need to worry about giving 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 simple as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system, and this is used for the majority of transactions. It also operates on the Polygon blockchain, which ensures the lowest cost and speediest trading.

There are two types of blockchains available it is possible to choose which one you want to upload your NFT on as an seller. This will ensure the security of your NFT as well as those who would like to buy it. All transactions are made using this blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online marketplace where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art from an artist that you admire. Anyone can sell however it takes a while for anyone to become a reputable one.

There is a wide variety from the selection on OpenSea and you can also be a part of this! You can create your own marketplace on this site, as well as find NFTs you’d like to buy yourself.

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What is an NFT?

In a recent advancement for the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people have heard of it but aren’t sure exactly what it actually 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 that you can buy with cryptocurrency includes an NFT. A NFT is a non-fungible token which is extremely exclusive and cannot be changed. It could be an item of any rareness like rare baseball trading cards in mint condition or a uncommon vinyl record.

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

Minting NFTs

Minting is like calling the shots on your own NFTs. It is a way of claiming ownership over that particular token/item that you posted to the marketplace, and offering it for sale. Usually, this becomes official after you fill in the correct information about the NFT and submit it for sale on.

On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and simply create a collection! Fill out the proper and accurate information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain and money transfer tokens). After that you are able to upload it, if it’s within the limit of 100MB.

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

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What NFTs are available here?

At this point, you’re probably wondering the kind of NFTs can you shop for here, and what you could also sell if you decide to go down that path. The type of NFT it can be isn’t limited because there’s a wide range of how you can approach it.

It is possible to sell digital products, trading cards game assets, domain names, and also physical goods! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that differentiates OpenSea from other companies. There are zero gas fees when you utilize this feature when you create and market NFTs. This means you’ll be able to make the highest profits once you begin selling since you won’t have to spend on extra fees.

Not many NFT marketplaces offer this feature, and it is great for you to receive high profit from your portfolio.

Referral Program

A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces that offer advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50% of the sale amount, letting you make more money by this method.

Other NFT marketplaces do not have the same feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.

The mobile apps of OpenSea are available on the two platforms of iOS and Android. Even though you can’t buy or sell something, you can browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are at your disposal to exchange your fiat money for cryptocurrency through these platforms. Cropking Nft Growing Channel

You can convert the fiat currency you have with a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and more!

All of them have the option to exchange for ETH that is the primary cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all types of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based using the ETH blockchain, any wallets with a connection to this network are appropriate for the site.

Here’s a list of several crypto wallets you can use 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 wallet has its own restrictions, such as easy registration, mobile-only usage and the ability to purchase cryptocurrency with the credit card. Cropking Nft Growing Channel

For more information about the service to learn more, check out their FAQs to see the steps you can start and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps are available that are compatible with iOS or Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto industry and NFTs.

Cons

  • Allows royalties up to 10% for artists (low royalty rates).
  • You cannot buy or sell products on this mobile application.
  • Only supports cryptocurrency as its method of payment.
  • The use of a Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is open to everyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll easily recover that amount when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Cropking Nft Growing Channel

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use it to sell NFTs because of its zero gas costs and low commission fee rate which you are required to pay.

You can shop and browse the vast array of digital products on this NFT marketplace which is why you should definitely check it out!

Is OpenSea real and safe?

Answer: Yes! OpenSea is a reputable marketplace since it was established at the end of the year 2018. Since the system it operates on is built on blockchain technology that is secure, you can claim that your transactions are safe and secure.

Furthermore as a seller you will be verified after you have built up your credibility. A blue checkmark is placed to your account or any collection that you have uploaded to assure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are safe.

How can I earn royalties on OpenSea?

As an artist, you will be paid only 10 percent of the royalties when you upload the NFT. This is thought to be quite low in comparison with others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) can be commonly used on this site as well as many others to accommodate the increasing number of cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can utilize to access OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal for the transaction.

Does OpenSea have a desktop or mobile app?

As previously mentioned, there is definitely an official mobile app from OpenSea for both iOS and Android. You can download it through their app store and begin exploring the collection right now!

The Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect 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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