Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto currency. Marketplaces are popping up across the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
So, hop on board and let’s see the possibilities of OpenSea as well as examining what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Helical Grow Nft
The purpose to create OpenSea was to offer a platform/marketplace for artists to upload commissions with no additional fees. It also has additional functions which allow you to market your artwork without any issues.
When it comes to registration, you won’t have to worry about giving all of your personal details. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system, and this is used for the majority of transactions. It also functions using the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains available it is possible to choose which one you would like to upload your NFT on as seller. This will ensure the security of your NFT as well as those who wish to purchase 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 is like an endless online marketplace where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name to an official artwork from an artist you admire. Anyone can be a seller however it takes some time for anyone to be an established seller.
There is a wide variety from the selection on OpenSea and you can also be a part of this! You can start your own market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry the term “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible token that is very exclusive and cannot be replaced. It can be an item of rareness like mint-condition baseball trading cards, or a uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could just think of as an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you have uploaded to market, as putting it up for sale. Usually, this becomes official when you have filled in all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit 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 to use it with (e.g., blockchain, money transfer tokens). Once that’s all done then you’re able to upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about which kind of NFT can be purchased here and what you can sell should you decide to go that route. The kind of NFT it is indefinite since there’s a broad range of options for how to do it.
You could be selling trade cards, digital goods game assets domain names, some physical items! Find out what you think will bring the greatest 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 use this feature when you create and market NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you won’t need to spend on additional fees.
Not many NFT marketplaces have this feature, which is why this is a great way to receive high profit from your portfolio.
Referral Program
A Referral Program is a different aspect of OpenSea to be admired. Like traditional online marketplaces that offer benefits when you refer your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll earn 2.50% of the sale amount, letting you make more money through this action.
Other NFT marketplaces don’t offer this kind of feature either This is a further advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it is mainly used for perusing through the marketplace. You can’t buy or sell items as you browse through the listings.
The mobile apps of OpenSea are available for both iOS and Android. Even though you can’t buy or sell anything, you can still look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use, and you can convert your fiat money into cryptocurrency using these platforms. Helical Grow Nft
You can swap your fiat currency using a credit card or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of them have the option of exchange for ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all kinds of crypto, wallets are still more compatible with it than other. Because it is based on the ETH blockchain, all wallets that share 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 are available on the OpenSea 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. Helical Grow Nft
To know more about it You can go through their FAQs to see the steps you can start and also what other crypto wallets are compatible 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 the only one to have this. You can view its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalties).
- It is not possible to buy or sell items via the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto account is needed for this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly regain that when you actively sell because there is no additional fee for it.
Frequently Asked Questions Helical Grow Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way to market their work online, and to accept cryptocurrency as a method of payment. It’s an excellent option for artists who want to use for selling NFTs because of its zero gas fees and the low commission rate which you are required to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea legitimate and safe?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established in the year of 2018. Because its system is built on a blockchain, it is safe to say that your transactions are safe and secure.
In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark will appear to your account or the collection you’ve uploaded to ensure the safety of any customer. OpenSea’s team regularly reviews the content to ensure users are protected.
How do I earn royalties from OpenSea?
As an artist, you will be paid only 10 percent of the royalties when you have uploaded the NFT. This is believed to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be commonly used on this site and 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 primary cryptocurrencies you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier, there is definitely an official mobile app by OpenSea that is available for iOS as well as Android. Download it at their respective app store and you can start exploring the collection now!
The desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
