The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto coins. Marketplaces are popping up across the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard about OpenSea before for a good reason. It has become one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Get on board, and let’s explore the possibilities of 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 will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace How To Make And Sell Nft Art
The goal to create OpenSea was to provide artists with a marketplace/platform to upload commissions with no additional charges. There are additional features that let you sell your art without too many issues.
In terms of registration, you won’t have to provide all of your personal details. All you need to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for the majority of transactions. It is also based with the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains available, you can choose which one you want to transfer your NFT to as seller. This is to ensure the security of your NFT and those who wish to purchase it. All transactions will be made along with this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to official art from an artist that you admire. Anyone can be a seller however, it takes time for anyone to be a reputable one.
There’s a huge selection from the selection of NFTs available at OpenSea, and you can become a part of the collection! You can create your own market there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but not exactly sure what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the latest ways that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible token that is very unique and can’t be replaced. It can be a piece of rareness like authentic baseball cards, or a uncommon vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible thing that you sell online. More straightforwardly, you can simply imagine an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. You’re claiming ownership over that particular token/item you uploaded on the market place, but you’re offering it for sale. Usually, this is recognized when you have filled in the correct information about the NFT and upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and then create a collection! Complete the correct and complete information about your NFT and select the type of settings you want for it (e.g., blockchain and payments tokens). After you’ve completed the process then you’re able to upload it, if it’s within the 100 MB limit.
It is possible to wait and see how transactions progress from now to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering the kind of NFTs can you shop for here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT it isn’t limited because there’s a wide range of ways to approach it.
You could be selling trade cards, digital goods, game assets domain names, some physical items! Explore what you believe can yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that differentiates OpenSea from the others. There’s no cost for gas when you utilize this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you sell because you won’t need to spend 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
This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets, you can receive rewards when you refer someone else to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, which allows you to earn more cash through this action.
Other NFT marketplaces do not have this kind of feature either and that’s another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. While you’re not able to buy or sell something, you can browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are at your disposal You can also trade your fiat currency for cryptocurrency on these platforms. How To Make And Sell Nft Art
You can swap your fiat currency using a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option of exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than others. Since it is built mainly around the ETH blockchain, all wallets with a connection to this network are appropriate for this website.
Here’s a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, use on mobile devices only, and the function to purchase cryptocurrency with credit cards. How To Make And Sell Nft Art
For more information about the service You can go through their FAQs to see a rundown of how you can get started and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- Cannot buy or sell on our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee 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 To Make And Sell Nft Art
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform to market their work online to receive cryptocurrency as their form of payment. It’s an excellent option for artists who want to use the platform to market NFTs because of its zero cost of gas and low commission fee rate you must pay.
You can browse and shop for the vast array of digital items on the NFT marketplace and you must go through it!
Is OpenSea legitimate and safe?
Short answer: Yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in the year 2018. Since the system it operates on is built on a blockchain that is secure, you can claim that your transactions are secure and safe.
Additionally as a seller you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or any collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are protected.
How can I earn royalties on OpenSea?
As an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is believed to be a reasonable amount compared against the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is widely used on this site and many others to accommodate many more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use for OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As mentioned before there’s an official mobile application from OpenSea available for both iOS as well as Android. Download it at their respective app store, and you can start browsing through the collection right now!
A version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app, 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/).
