The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth a look.
If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s explore what you can do with OpenSea, along with checking the NFTs that you can see!
Before you go on, you may want to watch 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 Have You Nftf
The purpose for OpenSea was to simply provide a platform/marketplace for artists to upload commissions with no additional fees. It has more functions that allow you to sell your art without too many issues.
In terms of registration, you don’t need to provide too many details about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used to carry out the majority of processes. It also functions using the Polygon blockchain to ensure low-cost and quicker trading.
There are two types of blockchains you can pick 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 will be made by using the blockchain, and you must think about where to 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 the simplest domain name to an official artwork from an artist you admire. Anyone can be a seller, but it takes some time for anyone to be a reputable one.
There is a wide variety from the selection of NFTs available at OpenSea and you could join in with that! You can set up your own personal market there, and also find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that the majority of young people are familiar with it , but aren’t sure exactly what it actually means. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.
One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a non-fungible token that is exclusive and cannot be changed. This can be an item of any rareness like authentic baseball cards or unique vinyl album.
There’s no limit on what an NFT can be as it’s a non-fungible object that you sell on the internet. More straightforwardly, you can just imagine the NFT to be a type of digital 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 ownership of the particular item that you posted to market, as you’re selling it. Typically, this is official when you have filled in the proper information regarding the NFT and submit it for sale on.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and create a collection! Input the appropriate and correct information regarding your NFT and then select what type of settings you’d like to use it with (e.g., blockchain and payment tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.
It is possible to wait and see how the transactions go from now on to determine if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably asking yourself what kind of NFTs can be purchased here and what kind of NFTs you can sell should you decide to go down that path. The type of NFT it can be is unlimited since there’s a broad range of how you can approach it.
You can be selling digital products, trading cards, game assets, domain names, and even physical assets! Find out what you think will yield the most profit when you try out 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 when you create and market NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you don’t need to pay on any additional charges.
There aren’t 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 a different aspect of OpenSea to be admired. Like traditional online marketplaces there are rewards when you refer someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can make more money from this act.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
OpenSea’s mobile apps are available for the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell things, you can at least look through the options you’re interested in while 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 using these platforms. Have You Nftf
You can convert your fiat currency using a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
Each of them has the option of exchange for ETH which is the most common cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are still more compatible with it than other. Since it is built using an ETH blockchain, any wallets which are part of the same network are suitable for the site.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Have You Nftf
To know more about it to learn more, check out their FAQs for an overview of how you can start 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 pros here:
Pros
- Mobile apps are available for iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty).
- Cannot buy or sell via the mobile app.
- Only supports cryptocurrency as its form of payment.
- An Crypto wallet is required for 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% portion of commission fees for all sellers on the platform. In the end, you’ll easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Have You Nftf
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to market their work online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists who use for selling NFTs due to its low cost of gas and low commission fee rate that you have to pay.
You can shop and browse a vast collection of digital goods in this NFT marketplace and you must take a look!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea has been a reliable marketplace since it was founded in the year 2018. Since the system it operates on is built on a blockchain that is secure, you can say that your transactions are secure and safe.
In addition, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the content to ensure that users are safe.
How can I earn royalties on OpenSea?
However, as an artist, you can get only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared to the other NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) has been commonly utilized on this website and many others to accommodate more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As previously mentioned There is an official mobile app by OpenSea that is available for iOS as well as Android. You can download it through their app store and you can start exploring the collection right now!
There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application 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/).
