The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up all over the digital web designed to buy and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth checking out.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.
Now hop aboard, and discover the possibilities of OpenSea and also see what NFTs you can view!
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 How Much Is 300 Nft
The goal for OpenSea was to simply provide artists with a marketplace/platform to upload commissions without any extra costs. It has more functions which allow you to market your artwork without any issues.
For the registration process, you don’t have to give all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used for most processes. It also operates with the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains it is possible to choose which one you would like to publish your NFT as an seller. This will ensure the security of your NFT and those who would like to buy it. All transactions will be made by using the blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can be a seller however it takes a while for anyone to be a reputable one.
There are a variety of NFTs from the selection on OpenSea and you can also be a part of this! You can create your own market on this site, as well as find NFTs you want 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 actually means. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. An NFT is a token that is non-fungible that is individual and cannot be changed. It could be a piece of rarity like rare baseball trading cards in mint condition or a rare vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible item that you sell online. More straightforwardly, you can simply imagine the NFT to be a type of digital item paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. It is a way of claiming the owner of the item or token that you have uploaded to market, as you’re putting it up for sale. Usually, this is recognized once you fill out all the necessary information about the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and simply create a collection! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain, money transfer tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can wait and observe how transactions progress from now on to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably thinking about what kind of NFTs can be purchased here, and what you could sell should you decide to pursue that route. The type of NFT that you can purchase is indefinite because there’s a wide range of options for how to go about it.
It is possible to sell digital products, trading cards game assets domain names, also physical goods! Consider what you believe will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from the other options. There are no gas costs when you utilize this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you don’t need to pay on extra fees.
Very few NFT marketplaces provide this feature, and it is a great way to receive high profit from your NFT collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets, you can receive benefits when you refer your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which allows you to make more money from this act.
Other NFT marketplaces don’t offer the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible on the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are at your disposal You can also trade your fiat currency for cryptocurrency on these platforms. How Much Is 300 Nft
You can convert your fiat money via the credit card, or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of these have the option of exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, the wallets still more compatible with it than other. Since it is built mainly on an ETH blockchain, wallets with a connection to that network will be suitable for the site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only and the ability to purchase cryptocurrency using the credit card. How Much Is 300 Nft
To learn more about it, you can check their FAQs to see an overview of how you can begin and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty rates).
- You cannot buy or sell products through the mobile app.
- Only accepts cryptocurrency as a form of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, 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 sell regularly since there’s no additional cost for it.
Frequently Asked Questions How Much Is 300 Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance to market their work online and receive cryptocurrency as a form of payment. It’s a great platform for artists who use for selling NFTs due to its low cost of gas and the low commission rate which you are required to pay.
You can shop and browse the vast array of digital goods in this NFT marketplace and you must check it out!
Is OpenSea legit & safe?
Answer: Yes! OpenSea is a reputable marketplace since it was established at the end of the year of 2018. Because its system is based on a blockchain, it is safe to say that your transactions are safe and secure.
Additionally as a seller you will be verified after you have built up your credibility. A blue checkmark is placed next to your account or collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure that users are safe.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can get only 10% of the royalties once you upload the NFT. This is considered to be reasonably low compared against other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is commonly utilized on this website and many others to accommodate more crypto users. These are other cryptos you can use in 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 methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As previously mentioned, there is definitely an official mobile app from OpenSea that is available for iOS and Android. Install it from their app store and then you can begin exploring the collection now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and receive notifications on updates regarding 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/).
