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The crypto currency market is in a boom right now, and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth checking out.

If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid transactions.

Get on board, and discover the possibilities of OpenSea as well as examining what NFTs you can view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Full Commercial Nft Hydroponic Greenhouse

The aim of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions without any extra fees. There are additional features that allow you to sell your art without too many problems.

When it comes to registration, you won’t have to give any personal information about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used to carry out the majority of processes. It also operates with the Polygon blockchain, which allows for low-cost and quicker trading.

There are two types of blockchains that are available, you can choose which one you’d like to upload your NFT on as seller. This ensures the safety of your NFT as well as those who would like to purchase it. All transactions are made by using the blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name to an official artwork from an artist you admire. Anyone can become a seller however, it takes time for anyone to become an established seller.

There is a wide variety in the collection at OpenSea and you can become a part of that! You can create your own personal market on this site, as well as find NFTs you’d like to buy yourself.

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What is an NFT?

A recent change in the cryptocurrency industry, the term “NFT” has been going around for so long on the internet that a lot of millennials have heard of it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.

One of the newest things you can purchase your cryptocurrency is an NFT. An NFT is a token that is non-fungible that is individual and cannot be substituted. This can be a piece of rareness like mint-condition baseball trading cards, or a rare vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can simply consider as an NFT being a virtual item that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots to your NFTs. You’re claiming the owner of the item or token that you posted 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 simple process to mint your NFTs by visiting the store and simply making a collection to begin! Input the appropriate and complete information about your NFT and choose what kind of settings you’d like for it (e.g. blockchain, payments tokens). Once that’s all done you are able to upload it if it fits the limit of 100MB.

You can wait and observe how the transactions go from here on out to determine whether OpenSea is the right marketplace for you.

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What NFTs can you get here?

At this point, you’re probably wondering what kind of NFTs be found here and what kind of NFTs you can also sell if you decide to pursue that route. The type of NFT that you can purchase is indefinite since there’s a broad range of how you can go about it.

You can be selling digital products, trading cards games domain names, even physical assets! Find out what you think will bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what separates OpenSea from the others. There are no gas costs for using this feature when you create and market NFTs. This means you’ll receive the maximum profits when you sell because you won’t have to spend on extra fees.

Not many NFT marketplaces have this feature, which is why this can be a fantastic way to receive high profit from your NFT collection.

Referral Program

The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer rewards when you refer your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the sales amount, letting you make more money from this act.

Other NFT marketplaces don’t have this kind of feature either and that’s another advantage OpenSea has over the other marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used for perusing through the marketplace. You can’t buy or sell anything while you scroll through the list.

The mobile apps of OpenSea are available for both iOS in addition to Android. Even though you can’t buy or sell things, you can look through the options you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are for you to use You can also convert your fiat money into cryptocurrency through these platforms. Full Commercial Nft Hydroponic Greenhouse

You can convert your fiat currency using a credit card or Paypal on these reliable websites to exchange it for crypto:

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

Each of them has the option to exchange for ETH which is the primary crypto payment in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all kinds of crypto, wallets are still more compatible with it than other. Since it is built mainly on the ETH blockchain, wallets with a connection to 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 much more!

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using a credit card. Full Commercial Nft Hydroponic Greenhouse

For more information about the service You can go through their FAQs to see a rundown of how you can start and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:

Pros

  • Mobile apps are available for iOS or Android.
  • Smart contracts are used for transactions.
  • High-level security , with the backing of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties 10% for artists (low royalty rates).
  • It is not possible to buy or sell items via the mobile app.
  • Only accepts cryptocurrency as a form of payment.
  • A Crypto wallet is required to use this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. However, overall, you will easily recover that amount when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Full Commercial Nft Hydroponic Greenhouse

What is OpenSea?

OpenSea is an NFT marketplace that aims to offer artists a way to sell their works online, and to accept cryptocurrency as a method of payment. It’s an excellent platform for artists using it to sell NFTs due to its no gas costs and low commission fees that you have to pay.

You can shop and browse an array of digital items on the NFT marketplace, so you should go through it!

Is OpenSea legitimate and is it safe?

The short answer is yes! OpenSea has been a trusted marketplace since it was established in the year of 2018. Since the system it operates on is built on a blockchain that is secure, you can claim that your transactions are safe and secure.

Furthermore, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear to your account or any collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the contents to ensure users are safe.

How can I earn royalties from OpenSea?

As an artist, you will receive only up to 10 percent of the royalties when you have uploaded the NFT. This is thought to be quite low in comparison against other NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) is frequently utilized on this website and numerous others to cater for many more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can utilize to use OpenSea.

Which are the accepted payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea have a desktop or mobile app?

As we mentioned earlier there’s an official mobile application from OpenSea available for both iOS and Android. Download it at their respective app store, and then you can begin exploring the collection now!

There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts and get 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/).

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