Cryptocurrency is booming right now and you’re probably thinking what you can do with your crypto coins. Markets have popped up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea can be one, and it’s worth looking into.
If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace How To Sell Mycryptoheroes On OpenSea
The purpose to create OpenSea was to simply provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional fees. It also has additional functions that let you sell your art without too many problems.
In terms of the registration process, you don’t have to give too many details about yourself. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on 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 functions using the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains it is possible to choose which one you would like to transfer your NFT to as seller. This is to ensure the security of your NFT and the people who want to purchase it. All transactions will be made using this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art by an artist you admire. Anyone can sell however it takes a while for anyone to be an established one.
There is a wide variety from the selection at OpenSea and you could also be a part of the collection! You can set up your own market on this site, as well as find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t sure exactly what it is. Let’s look at 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 includes an NFT. The NFT is a non-fungible currency that is very individual and cannot be substituted. It can be a piece of rareness like authentic baseball cards or uncommon vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible object you’re selling on the internet. More straightforwardly, you can just consider as an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You’re claiming ownership over that particular token/item you uploaded on the marketplace, and putting it up for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and finally upload it to the marketplace.
On OpenSea, it’s a simple process to mine your NFTs by visiting the store and create a collection! Complete the correct and accurate information about your NFT and then select what type of settings you’d like to use for it (e.g., blockchain and payments tokens). Once that’s all done you are able to upload it if it fits the 100 MB limit.
You can watch and see how transactions progress from now on to determine whether OpenSea is the best 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 kind of NFTs you can sell should you decide to pursue that route. The type of NFT it is indefinite since there’s a broad range of options for how to do it.
You could be selling digital products, trading cards games, domain names, and also physical goods! Find out what you think will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from other companies. There are no gas costs when you utilize this feature to make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you start selling because you don’t need to pay on additional fees.
There aren’t many NFT marketplaces have this feature, and it is great for you to make a huge profit from your collection.
Referral Program
The Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets that offer benefits by referring someone else to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site, you’ll receive 2.50% of the sale amount, letting you earn more cash through this action.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used to browse through the marketplace. You can’t buy or sell anything as you browse through the listing.
The mobile apps of OpenSea are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use to convert your fiat money into cryptocurrency through these platforms. How To Sell Mycryptoheroes On OpenSea
You can exchange the fiat currency you have with a credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of exchange for ETH which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all kinds of cryptocurrency, wallets are nevertheless more compatible than others. Because it is based on the ETH blockchain, all wallets that share this network are appropriate for the site.
Here is a list of different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, only mobile usage and the ability to buy cryptocurrency using a credit card. How To Sell Mycryptoheroes On OpenSea
To know more about it, you can check 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
As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalties).
- Cannot buy or sell via our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- An Crypto account is needed to use this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can quickly recover this amount if you actively sell because there’s no extra charge for it.
Frequently Asked Questions How To Sell Mycryptoheroes On OpenSea
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way to sell their works online to receive cryptocurrency as a form of payment. It’s a great platform for artists using the platform to market NFTs because of its zero gas costs and low commission fees which you are required to pay.
You can shop and browse a vast collection of digital items on the NFT marketplace and you must check it out!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in the year 2018. Since the system it operates on is built on blockchain technology that is secure, you can claim that your transactions are safe and secure.
Furthermore as a seller you will be verified after you have built up your credibility. A blue checkmark will appear on your account or the collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you’ll get only 10 percent of the royalties when you have uploaded the NFT. This is believed to be quite low in comparison against the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is widely utilized on this website and other sites to provide the increasing number of crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use for OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the 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 have a desktop/mobile application?
As previously mentioned There is an official mobile app from OpenSea for both iOS as well as Android. Download it at their respective app store, and then you can begin exploring the collection now!
A desktop application for OpenSea which can be downloaded from WebCatalog. In the desktop application you are able to manage multiple accounts and receive 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/).
