The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto currency. Marketplaces are popping up across the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and let’s explore what you can do with 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’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Diy Pvc Nft System
The aim for OpenSea was to simply provide an online marketplace for artists to upload commissions without any extra costs. It also has additional functions that let you sell your art without too many issues.
For registration, you don’t need to worry about giving any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It also functions with the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains available, you can choose which one you’d like to publish your NFT as seller. This ensures the safety of your NFT as well as those who would like to buy it. All transactions are made along with this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to official art from an artist you admire. Anyone can become a seller, but it takes a while before anyone can become a reputable one.
There’s a huge selection from the selection of NFTs available at OpenSea, and you can also be a part of that! You can start your own personal market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t exactly sure what it is. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. A NFT is a non-fungible token which is extremely unique and can’t be changed. This can be an item of any rareness, such as authentic baseball cards or a unique vinyl album.
There’s no limit to what an NFT can be as it’s a non-fungible object that you sell on the internet. In simpler terms, you could just consider as an NFT as a digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the owner of the item or token you uploaded on the market place, but you’re putting it up for sale. Usually, this becomes official after you fill in the correct information about the NFT and upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and create a collection! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g., blockchain or payments tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how transactions progress from now to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about the kind of NFTs can you shop for here, and what you could also sell if you decide to pursue that route. The type of NFT it can be is indefinite because there’s a wide range of ways to approach it.
You could be selling trade cards, digital goods, game assets, domain names, and also physical goods! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the other options. There are no gas costs for using this feature to create and market NFTs. This means you’ll receive the maximum profits when you begin selling since you won’t need to spend on additional fees.
Not many NFT marketplaces provide this feature, so this is great for you to make a huge profit from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces that offer benefits by referring someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, letting you earn more cash through this action.
Other NFT marketplaces do not have this kind of feature either This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
The mobile apps of OpenSea are available on both iOS as well as Android. Although you aren’t able to purchase or sell something, you can explore the products you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you You can also exchange your fiat money for cryptocurrency on these platforms. Diy Pvc Nft System
You can swap your fiat money via credit card or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option of exchange for ETH that is the most common crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all types of cryptocurrency, wallets are still more compatible with it than other. Since it is built mainly on an ETH blockchain, wallets that share that network will be suitable for this website.
Here’s a list several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, only mobile usage, and the function to purchase cryptocurrency with the credit card. Diy Pvc Nft System
For more information about the service You can go through their FAQs to get a rundown of how you can begin and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty).
- Cannot buy or sell on our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. However, overall, you will easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Diy Pvc Nft System
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance for selling their artwork online to receive cryptocurrency as a method of payment. It’s a great platform for artists who use the platform to market NFTs due to its no gas costs and low commission fees you must 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 & safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year 2018. Because its system is built on a blockchain and is secured, it is safe to declare that transactions are protected and secured.
In addition, as a seller, you can become verified once you have built up your credibility. A blue checkmark will be assigned next to your account or collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are protected.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you’ll get only 10% of the royalties once you upload the NFT. This is thought to be a reasonable amount compared to other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be widely used on this site as well as other sites to provide more crypto 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 use OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop or mobile app?
As we mentioned earlier There is an official mobile app by OpenSea available for both iOS and Android. Install it from their app store, and you can start exploring the collection right now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. On the desktop app, you can manage multiple accounts and get notifications on updates regarding 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/).
