Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. Markets have popped up across the digital web designed to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth checking out.
If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It has become one of the largest and most popular marketplaces for users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea as well as examining the NFTs available to view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Cropking Nft
The goal for OpenSea was to provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional costs. It has more functions which allow you to market your artwork without any problems.
When it comes to registration, you won’t have to worry about giving too many details about yourself. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It is also based using the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains that are available, you can choose which one you want to publish your NFT as an seller. This is to ensure the security of your NFT as well as the people who want to purchase it. All transactions are made using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name, to a piece of art from an artist you admire. Anyone can sell, but it takes a while for anyone to become an established seller.
There are a variety of NFTs from the selection of NFTs available at OpenSea, and you can also be a part of the collection! You can create your own marketplace there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry, the term “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t exactly sure what it is. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the newest things you can buy is an NFT. An NFT is a non-fungible currency that is unique and can’t be changed. It could be an item of any rareness like rare baseball trading cards in mint condition or a uncommon vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible thing that you sell online. In simpler terms, you could just imagine an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You are calling the owner of the item or token that you have uploaded to market, as offering it for sale. Usually, this is recognized when you have filled in all the necessary information about the NFT and then submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and making a collection to begin! Input the appropriate and complete information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain and payment tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how the transactions go from now to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably thinking about what kind of NFTs can be found here and what you can sell should you decide to go that route. The type of NFT it isn’t limited since there’s a broad range of options for how to approach it.
You could be selling trade cards, digital goods games domain names, also physical goods! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that separates OpenSea from the other options. There are zero gas fees when you use this feature when you make and then sell the NFTs. This is essentially a way to ensure that you get the most profit when you sell because you won’t have to spend on extra fees.
There aren’t many NFT marketplaces have this feature, and it is a great way to make a huge profit from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets that offer benefits by referring your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, which allows you to earn more money by this method.
Other NFT marketplaces don’t offer this kind of feature either This is a further benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell items as you scroll through the list.
The mobile apps of OpenSea are available for the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell things, you can explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available at your disposal You can also trade your fiat currency for cryptocurrency on these platforms. Cropking Nft
You can swap your fiat money via credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
Each of them has the option of converting them into ETH which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, wallets are still more compatible with it than other. Because it is based around an ETH blockchain, any wallets that share this network are appropriate for this website.
Here’s a list different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage, and the function to purchase cryptocurrency with credit cards. Cropking Nft
For more information about the service You can go through their FAQs to get a rundown of how you can start and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties 10% to artists (low royalty).
- You cannot buy or sell products through our mobile apps.
- Only supports cryptocurrency as its form of payment.
- A Crypto digital wallet must be used to access 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% portion of commission fees for all sellers on the platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Cropking Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its low cost of gas and low commission fee rate that you have to pay.
You can browse and purchase the vast array of digital products on this NFT marketplace, so you should check it out!
Is OpenSea legitimate and safe?
Answer: Yes! OpenSea has been a reliable marketplace since its inception in 2018. Since its system is based on a blockchain and is secured, it is safe to claim that your transactions are protected and secured.
In addition as a seller you will be verified after you have built up your credibility. A blue checkmark will appear next to your account or any collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are secure.
How can I earn royalties on OpenSea?
However, as an artist, you will receive only up to 10 percent of the royalties after you upload the NFT. This is believed to be reasonably low compared against others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be widely utilized on this website and other sites to provide many more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies 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 trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile app?
As previously mentioned There is an official mobile app from OpenSea available for both iOS as well as Android. Download it at their respective app store and begin exploring the collection now!
There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect 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/).
