Cryptocurrency is booming right now and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up all over the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea can be one, and it’s worth checking out.
If you’re interested in crypto, you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency users because of its security and quick transactions.
Get on board, and let’s see what you can do with OpenSea as well as examining the NFTs that you can see!
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 our article for a more comprehensive review.
OpenSea as an NFT Marketplace How Many Weeks In Nft Season
The purpose of OpenSea was to offer artists with a marketplace/platform to upload commissions without any extra fees. It has more functions that allow you to sell your work without having to deal with many issues.
In terms of registration, you won’t have to give any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It also operates using the Polygon blockchain, which allows for low-cost and quicker trading.
With these two kinds of blockchains that are available you can pick which one you’d like to transfer your NFT to as seller. This ensures the safety of your NFT and those who wish to purchase it. Every transaction will be conducted using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name, to a piece of art by an artist you admire. Anyone can sell however, it takes some time for anyone to become an established seller.
There’s a huge selection from the selection at OpenSea and you could become a part of the collection! You can set up your own personal market here, along with finding NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for 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 exactly sure what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible token that is unique and can’t be changed. This can be an item of rareness, such as rare baseball trading cards in mint condition or a unique vinyl album.
There’s no limit on what an NFT can be since it’s a non-fungible thing you’re selling on the internet. More straightforwardly, you can just think of as an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. It is a way of claiming the ownership of the particular item you uploaded on the marketplace, and you’re selling it. Usually, this is recognized after you fill in the correct information about the NFT and submit it for sale on.
On OpenSea it’s a straightforward process to mine your NFTs by visiting the store and creating a collection to start! Complete the correct and complete information about your NFT and select the type of settings you’d like to use to use it with (e.g., blockchain or payment tokens). After that you are able to upload it, if it’s within the 100 MB limit.
You can watch and see how transactions progress from here on out to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably asking yourself which kind of NFT can be purchased here, and what you could 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 can be selling trade cards, digital goods game assets domain names, some physical items! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from other companies. There’s no cost for gas when you use this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you start selling because you won’t need to spend on any additional charges.
Very few NFT marketplaces have this feature, and it can be a fantastic way to earn a high return from your portfolio.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces there are rewards when you refer a friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there you’ll earn 2.50% of the sale amount, which means you can earn more cash by this method.
Other NFT marketplaces do not have the same feature and that’s another 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 through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
The mobile apps of OpenSea are available for both iOS in addition to Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. How Many Weeks In Nft Season
You can swap 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 standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built using an ETH blockchain, all wallets that share that network will be suitable for this website.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage as well as the capability to buy cryptocurrency using the credit card. How Many Weeks In Nft Season
To learn more about it You can go through their FAQs to see the steps you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- Cannot buy or sell via the mobile app.
- Only accepts cryptocurrency as a form of payment.
- A Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can easily recover that amount when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions How Many Weeks In Nft Season
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use it to sell NFTs due to its no cost of gas and low commission fees you must pay.
You can shop and browse the vast array of digital items on the NFT marketplace, so you should take a look!
Is OpenSea legitimate and secure?
Answer: Yes! OpenSea has been a trusted marketplace since its inception in the year 2018. Since its system is built on a blockchain, it is safe to say that your transactions are protected and secured.
Furthermore as a seller you can become verified once you have built up your credibility. A blue checkmark will appear on your account or the collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the contents to ensure users are secure.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is thought to be a reasonable amount compared to other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) can be widely used on this site and numerous others to cater for the increasing number of cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile app?
As previously mentioned, there is definitely an official mobile app from OpenSea for both iOS and Android. Download it at their respective app store, and you can start exploring the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
