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 internet, designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them and is worth looking into.
If you’re interested in crypto, you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the biggest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
So, hop on board and let’s see what you can do with 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 overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Does OpenSea Have A Coin
The aim of OpenSea was to provide a platform/marketplace for artists to easily upload their commissions with no additional costs. There are additional features that let you sell your work without having to deal with many difficulties.
For registration, you don’t need to provide all of your personal details. All you need to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for most processes. It also functions on the Polygon blockchain, which ensures lower costs and faster trading.
With these two types of blockchains that are available it is possible to choose which one you would like to transfer your NFT to as an seller. This ensures the safety of your NFT, along with the people who want to buy it. All transactions are made by using the blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist that you admire. Anyone can sell however it takes some time for anyone to be a reputable one.
There is a wide variety in the collection at OpenSea and you could also be a part of the collection! You can set up your own marketplace there, and also find NFTs that you would like to purchase for 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 the internet that many millennials are familiar with it , but aren’t sure exactly what it means. Let’s look at what an NFT is for any beginners in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency includes an NFT. A NFT is a non-fungible currency that is unique and can’t be changed. It can be a piece of rareness, such as mint-condition baseball trading cards, or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible thing you’re selling online. In simpler terms, you could just imagine as an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots for your personal NFTs. It is a way of claiming the owner of the item or token that you have uploaded to the marketplace, and putting it up for sale. Typically, this is official once you fill out the proper information regarding the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and simply create a collection! Fill out the proper and correct information regarding your NFT and select the type of settings you want for it (e.g. blockchain or payments tokens). After you’ve completed the process, you can finally upload it if it fits the 100 MB limit.
You can watch and see the way transactions are handled from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point, you’re probably wondering what kind of NFTs can be found here, and what you could sell should you decide to go that route. The type of NFT it isn’t limited since there’s a broad range of ways to do it.
You could be selling trade cards, digital goods games domain names, also physical goods! Find out what you think will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that separates OpenSea from other companies. There’s no cost for gas when you utilize this feature when you make and then sell the NFTs. This means you’ll get the most profit when you sell because you won’t need to spend on any additional charges.
There aren’t many NFT marketplaces provide this feature, which is why this is great for you to make a huge profit from your portfolio.
Referral Program
The Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets that offer benefits by referring someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have this kind of feature either This is a further benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS as well as Android. Even though you can’t buy or sell something, you can at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are to you, and you can convert your fiat money into cryptocurrency on these platforms. Does OpenSea Have A Coin
You can convert your fiat money via the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option of exchange for ETH, which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets still more compatible with it than other. Since it is built mainly around the ETH blockchain, all wallets with a connection to this network are appropriate for this site.
Here is a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Does OpenSea Have A Coin
For more information about the service to learn more, check out their FAQs to see the steps you can start and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to 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.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- You cannot buy or sell products via our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- An Crypto account is needed to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Does OpenSea Have A Coin
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance to market their work online, and to accept cryptocurrency as their form of payment. It’s a great platform for artists who use it to sell NFTs because of its zero cost of gas and the low commission rate which you are required to pay.
You can browse and shop for an array of digital products on this NFT marketplace which is why you should definitely take a look!
Is OpenSea legit & is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since it was founded in the year of 2018. Since the system it operates on is built on a blockchain, it is safe to say that your transactions are protected and secured.
In addition as a seller you can become verified once you build up your reputation. A blue checkmark is placed on your account or any collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the content to ensure users are safe.
How can I earn royalties on OpenSea?
As an artist, you’ll get only 10 percent of the royalties when you upload the NFT. This is considered to be a reasonable amount compared with the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is commonly utilized on this website and other sites to provide many more crypto users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize to access OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store and then you can begin exploring the collection now!
There is also a version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts as well as receive 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/).
