The crypto currency market is in a boom right now and you’re probably wondering what you can do with your crypto-coins. Markets have popped up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is one of them and is worth looking into.
If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and discover what you can do with OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Diy Indoor Nft Hydroponics
The purpose for OpenSea was to simply provide artists with a marketplace/platform to easily upload their commissions without any extra fees. It has more functions that let you sell your art without too many issues.
When it comes to registration, you won’t have to provide too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also operates using the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains available you can pick which one you’d like to transfer your NFT to as seller. This ensures the safety of your NFT and the people who want to buy it. All transactions will be made using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything just a domain name, to a piece of art from an artist you admire. Anyone can become a seller however it takes time before anyone can become an established one.
There are a variety of NFTs of NFTs available of NFTs available at OpenSea, and you can also be a part of this! You can create your own personal market there, and also find NFTs you’d like to buy for 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 for so long on internet that a lot of millennials have heard of it but not exactly sure what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the newest things you can buy can be an NFT. An NFT is a token that is non-fungible that is very individual and cannot be substituted. It can be an item of rarity like mint-condition baseball trading cards or a unique vinyl album.
There is no limit to what an NFT can be since it’s a non-fungible item that you sell on the internet. More straightforwardly, you can simply imagine an NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. You’re claiming ownership over that particular token/item you uploaded on market, as you’re selling it. Usually, this is recognized when you have filled in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea, it’s a simple process to mine your NFTs by visiting the store and then making a collection to begin! Fill out the proper and correct information regarding your NFT and then select what type of settings you’d like for it (e.g., blockchain, money transfer tokens). After that you are able to upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how the transactions go from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point, you’re probably wondering what kind of NFTs can be found here and what you can also sell if you decide to go that route. The type of NFT it can be isn’t limited because there’s a wide range of options for how to do it.
It is possible to sell digital items, trading cards, game assets domain names, even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the other options. There are zero gas fees for using this feature when you mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you don’t need to pay on any additional charges.
Not many NFT marketplaces offer this feature, and it can be a fantastic way to make a huge profit from your portfolio.
Referral Program
A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets, you can receive advantages when you refer someone else to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can earn more money by this method.
Other NFT marketplaces do not have the same feature This is a further benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse the marketplace. You can’t buy or sell anything as you browse through the listing.
OpenSea’s mobile apps are available on the two platforms of iOS and Android. While you’re not able to buy or sell things, you can explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you You can also trade your fiat currency for cryptocurrency on these platforms. Diy Indoor Nft Hydroponics
You can convert your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of these have the option of exchange for ETH, which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are still more compatible with it than other. Since it is built around an ETH blockchain, wallets with a connection to this network are appropriate for this site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only and the ability to purchase cryptocurrency using a credit card. Diy Indoor Nft Hydroponics
To know more about it to learn more, check out their FAQs to get an overview of how you can get started and which other wallets work 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 disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- You cannot buy or sell products via our mobile apps.
- Only accepts cryptocurrency as a type 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. If you’re selling, 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 Diy Indoor Nft Hydroponics
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as a form of payment. It’s an ideal platform for artists using the platform to market NFTs due to its no cost of gas and the low commission rate that you have to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace, so you should check it out!
Is OpenSea legit & secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since its system is built on blockchain technology and is secured, it is safe to say that your transactions are safe and secure.
In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark will be assigned to your account or collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure that users are secure.
How can I earn royalties on OpenSea?
As an artist, you can get only 10% of the royalties once you upload the NFT. This is considered to be quite low in comparison against other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be commonly used on this site and other sites to provide many more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier, there is definitely an official mobile app by OpenSea available for both iOS as well as Android. Download it at their respective app store and begin exploring the collection right now!
A version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app you are able to manage multiple accounts and receive notifications about updates to 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/).
