The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto coins. Marketplaces are popping up across the digital web designed to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth looking into.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It’s one of the largest and most popular marketplaces for users of cryptocurrency due to its security and rapid transactions.
So, hop on board and discover what you can do with OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace How To Clean Nft Hydroponic System
The purpose of OpenSea was to offer a platform/marketplace for artists to upload commissions, without having to pay any additional charges. It has more functions that allow you to sell your work without having to deal with many problems.
When it comes to the registration process, you don’t have to give any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It also functions on the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains available, you can choose which one you want to publish your NFT as a seller. This will ensure the security of your NFT and those who wish to purchase it. All transactions will be made by using the blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can exchange 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 that you admire. Anyone can become a seller however it takes some time for anyone to become an established seller.
There are a variety of NFTs of NFTs available of NFTs available at OpenSea, and you can become a part of the collection! You can create your own market on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on the internet that the majority of young people are familiar with it but aren’t sure exactly what it actually means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways you can buy can be an NFT. A NFT is a non-fungible currency that is very exclusive and cannot be changed. This can be a piece of rarity like authentic baseball cards, or a uncommon vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could just consider an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming the owner of the item or token that you posted to the market place, but putting it up for sale. Usually, this is recognized once you fill out the correct information about the NFT and add it on the market.
On OpenSea, it’s a simple procedure to create your own NFTs by going to the store and simply creating a collection to start! Input the appropriate and complete information about your NFT and then select what type of settings you’d like to use it with (e.g., blockchain and payments tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from here on out to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably thinking about which kind of NFT can you shop for here and what you can sell should you decide to go down that path. The kind of NFT it is unlimited because there’s a wide range of ways to go about it.
It is possible to sell trade cards, digital goods games domain names, some physical items! Explore what you believe can bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the others. There’s no cost for gas for using this feature to create and market NFTs. This means you’ll be able to make the highest profits once you sell because you won’t have to spend on any additional charges.
Not many NFT marketplaces offer this feature, which is why this is great for you to earn a high return from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces there are rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash by this method.
Other NFT marketplaces don’t have this kind of feature either and that’s another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used to browse the marketplace. You can’t buy or sell anything as you browse through the listings.
The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. While you’re not able to 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 to you You can also exchange your fiat money for cryptocurrency through these platforms. How To Clean Nft Hydroponic System
You can convert the fiat currency you have with a the credit card, or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
Each of them has the option of exchange for ETH, which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built mainly using the ETH blockchain, all wallets which are part of the same network are suitable for this site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage, and the function to purchase cryptocurrency with a credit card. How To Clean Nft Hydroponic System
To know more about it to learn more, check out their FAQs to get the steps you can get started and also 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 has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty rates).
- You cannot buy or sell products on this mobile application.
- 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 has crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly regain that when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions How To Clean Nft Hydroponic System
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform to market their work online, and to accept cryptocurrency as a form of payment. It’s an ideal platform for artists using it to sell NFTs due to its no cost of gas and the low commission rate that you have to pay.
You can browse and shop for an array of digital products on this NFT marketplace and you must take a look!
Is OpenSea legitimate and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Because its system is built on a blockchain, it is safe to claim that your transactions are safe and secure.
Additionally as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will appear next to your account or the collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you can get only 10% of the royalties once you upload the NFT. This is believed to be quite low in comparison against other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been widely used on this site and other sites to provide many more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize for OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop or mobile application?
As mentioned before, there is definitely an official mobile app by OpenSea for both iOS or Android. You can download it through their app store, and begin exploring the collection now!
There is also a desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app you can manage multiple accounts and receive alerts on any updates that affect 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/).
