Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto coins. Marketplaces are popping up all over the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea can be one and is 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 leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
So, hop on board and let’s see what you can do with OpenSea as well as examining the NFTs available to view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Hydroponic Nft System Plans
The aim to create OpenSea was to offer an online marketplace for artists to easily upload their commissions, without having to pay any additional charges. It also has additional functions that allow you to sell your artwork without any issues.
When it comes to registration, you won’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’s as easy as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology and is used for most processes. It is also based with the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains that are available, you can choose which one you would like to publish your NFT as an seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions are 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 an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name to an official artwork by an artist you admire. Anyone can be a seller, but it takes a while before anyone can become an established seller.
There are a variety of NFTs of NFTs available on OpenSea and you can join in with the collection! You can start your own market here, along with finding NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market, the term “NFT” has been going around for so long on the internet that many millennials are familiar with it but not exactly sure what it is. Let’s look at what an NFT is for anyone who is new in cryptocurrency.
One of the newest things you can buy is an NFT. A NFT is a token that is non-fungible that is very exclusive and cannot be substituted. It could be an item of rareness, such as rare baseball trading cards in mint condition or a rare vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. More straightforwardly, you can simply think of the NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item you uploaded on the marketplace, and putting it up for sale. Usually, this is recognized once you fill out the correct information about the NFT and submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and simply create a collection! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use to use it with (e.g. blockchain and money transfer tokens). After that then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can watch and see how the transactions go from now to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably thinking about which kind of NFT you shop for here and what kind of NFTs you can also sell if you decide to pursue that route. The type of NFT it can be isn’t limited as there’s a variety of options for how to approach it.
You can be selling trade cards, digital goods, game assets domain names, even physical assets! Consider what you believe will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that sets OpenSea from the other options. There are zero gas fees when you use this feature to create and market NFTs. This simply means that you’ll receive the maximum profits when you start selling because you won’t need to spend on any additional charges.
There aren’t many NFT marketplaces provide this feature, which is why this can be a fantastic way to earn a high return from your portfolio.
Referral Program
The Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces there are advantages by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, which allows you to earn more cash by this method.
Other NFT marketplaces don’t offer this feature This is a further benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse the marketplace. You can’t buy or sell items as you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS and Android. Even though you can’t buy or sell anything, you can still at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use to convert your fiat money into cryptocurrency using these platforms. Hydroponic Nft System Plans
You can convert your fiat currency using a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option to exchange for ETH which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all forms of crypto, wallets are nonetheless more compatible than others. Because it is based around an ETH blockchain, wallets with a connection to this network are appropriate for the site.
Here’s a list various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, only mobile usage as well as the capability to buy cryptocurrency using a credit card. Hydroponic Nft System Plans
To know more about it, you can check their FAQs for the steps you can start 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 comes with its advantages and disadvantages. 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 that are compatible with iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- It is not possible to buy or sell items through this mobile application.
- Only supports cryptocurrency as its type of payment.
- A Crypto wallet is required to use this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. However, overall, you will easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Hydroponic Nft System Plans
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists using it to sell NFTs due to its no gas fees and low commission fees that you have to pay.
You can shop and browse the vast array of digital items on the NFT marketplace and you must take a look!
Is OpenSea legit & secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was founded at the end of the year of 2018. Since its system is built on blockchain technology that is secure, you can say that your transactions are protected and secured.
Additionally, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will be assigned on your account or collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties from OpenSea?
As an artist, you’ll get only 10 percent of the royalties after you have uploaded the NFT. This is thought to be a reasonable amount compared against others NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) can be frequently used on this site and many others to accommodate many more crypto users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can buy and trade cryptocurrency using secure platforms that accept 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 application?
As mentioned before There is an official mobile app from OpenSea available for both iOS or Android. You can download it through their app store and begin exploring the collection right now!
There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts as well as receive notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
