The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.
If you’re interested in crypto, you’ve probably heard of OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!
Before you continue, 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 of OpenSea.
OpenSea as an NFT Marketplace Hydroponic Nft Diy Tomatoes
The aim of OpenSea was to offer an online marketplace for artists to upload commissions without any extra charges. It also has additional functions that let you sell your work without having to deal with many issues.
When it comes to registration, you don’t need to provide too many details about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for the majority of transactions. It also operates on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains that are available you can pick which one you’d like to upload your NFT on as seller. This ensures the safety of your NFT as well as the people who want to buy it. All transactions will be made by using the blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art by an artist you admire. Anyone can sell, but it takes time for anyone to become an established seller.
There is a wide variety in the collection on OpenSea and you could become a part of that! You can create your own market here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials are familiar with it , but aren’t sure exactly what it 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 purchase your cryptocurrency is an NFT. An NFT is a non-fungible token which is extremely exclusive and cannot be replaced. It could be an item of any rareness, such as mint-condition baseball trading cards or a uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible object you’re selling online. It is simpler to just consider an NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the ownership of the particular item that you have uploaded to the marketplace, and selling it. Typically, this is official when you have filled in the correct information about the NFT and then add it on the market.
On OpenSea it’s a straightforward process to mine your NFTs by visiting the store and create a collection! Fill out the proper and correct information regarding your NFT and then select what type of settings you want to use it with (e.g., blockchain, money transfer tokens). After that you are able to upload it, if it’s within the 100 MB limit.
You can watch and see how the transactions go from here on out to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably asking yourself what kind of NFTs can be found here, and what you could also sell if you choose to go down that path. The type of NFT it can be is indefinite because there’s a wide range of how you can approach it.
You can be selling trade cards, digital goods games domain names, some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from other companies. There are zero gas fees when you use this feature to mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you don’t need to pay on any additional charges.
Very few NFT marketplaces offer this feature, so this is a great way to make a huge profit from your collection.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets there are rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the sales amount, letting you make more money by this method.
Other NFT marketplaces don’t have the same feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. You can’t buy or sell anything while you browse through the listings.
The mobile apps from OpenSea are accessible for the two platforms of iOS in addition to Android. While you’re not able to buy or sell something, you can browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available to you, and you can exchange your fiat money for cryptocurrency through these platforms. Hydroponic Nft Diy Tomatoes
You can exchange your fiat money via credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option of converting them into ETH which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of crypto, wallets are nevertheless more compatible than others. Because it is based using the ETH blockchain, any wallets that share the same network are suitable for this website.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage as well as the capability to buy cryptocurrency using a credit card. Hydroponic Nft Diy Tomatoes
For more information about the service You can go through their FAQs to see a rundown of how you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available for iOS and Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalty rates of up to 10% for artists (low royalties).
- Cannot buy or sell on our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- A Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, 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 are actively selling since there is no additional fee for it.
Frequently Asked Questions Hydroponic Nft Diy Tomatoes
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 their form of payment. It’s a great option for artists who want to use for selling NFTs due to its no gas costs and low commission fee rate that you have to pay.
You can browse and purchase the vast array of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea real and safe?
The short answer is yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year of 2018. Since its system is built on blockchain technology, it is safe to declare that transactions are secure and safe.
Additionally as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on your account or collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the content to ensure users are safe.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is considered to be a reasonable amount compared to others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is frequently utilized on this website and numerous others to cater for the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency through trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As mentioned before, there is definitely an official mobile app by OpenSea that is available for iOS as well as Android. Download it at their respective app store, and begin exploring the collection right now!
The version for desktops that OpenSea can be downloaded via WebCatalog. With the desktop application you can manage multiple accounts and get notifications on updates regarding your account when you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
