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 all over the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
So, hop on board and let’s explore the possibilities of OpenSea and also see the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Hydroponic Nft Systems Diy
The purpose of OpenSea was to simply provide an online marketplace for artists to upload commissions, without having to pay any additional fees. It has more functions that let you sell your art without too many issues.
When it comes to the registration process, you don’t have to worry about giving any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that, without many hassles when you enter 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 system and is used for most processes. It also functions using the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two types of blockchains, you can choose which one you’d like to publish your NFT as a seller. This will ensure the security of your NFT and the people who want to purchase it. Every transaction will be conducted along with this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to an official artwork from an artist you admire. Anyone can become a seller, but it takes some time for anyone to become an established seller.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you can also be a part of the collection! You can start your own marketplace 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 cryptocurrency industry, the term “NFT” has been going around for so long on internet that the majority of young people have heard of it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things you can buy is an NFT. An NFT is a non-fungible currency that is exclusive and cannot be replaced. It could be an item of any rareness like authentic baseball cards or uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing that you can sell online. In simpler terms, you could simply consider as an NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs to your NFTs. It is a way of claiming the ownership of the particular item that you have uploaded to market, as you’re putting it up for sale. Typically, this is official after you fill in all the necessary information about the NFT and submit it for sale on.
On OpenSea, it’s a simple procedure to create your own NFTs. All you have to do is visit the store and create a collection! Fill out the proper and accurate information about your NFT and choose what kind of settings you’d like to use to use it with (e.g. blockchain or money transfer tokens). Once that’s all done, you can finally upload it, if it’s within the limit of 100MB.
You can wait and observe the way transactions are handled 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 asking yourself what kind of NFTs be found here and what you can sell should you decide to pursue that route. The type of NFT that you can purchase isn’t limited as there’s a variety of options for how to do it.
It is possible to sell digital products, trading cards games domain names, even physical assets! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the other options. There are zero gas fees when you use this feature when you make and then sell the NFTs. This simply means that you’ll get the most profit when you begin selling since you won’t have to spend on extra fees.
Not many NFT marketplaces have this feature, so this is great for you to receive high profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer benefits when you refer someone else to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the purchase amount, which means you can make more money through this action.
Other NFT marketplaces do not have the same feature 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 used to browse the marketplace. You can’t buy or sell anything while 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 things, you can explore the products you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are to you to convert your fiat money into cryptocurrency through these platforms. Hydroponic Nft Systems Diy
You can convert your fiat currency using a 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 of converting them into ETH which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Since it is built around the ETH blockchain, any wallets which are part of the same network are suitable for the site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only and the ability to buy cryptocurrency using credit cards. Hydroponic Nft Systems Diy
To know more about it You can go through their FAQs to see an overview of how you can start and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and pros 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 industry and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty).
- You cannot buy or sell products on this mobile application.
- Only supports cryptocurrency as its method of payment.
- An Crypto account is needed to access this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Hydroponic Nft Systems Diy
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs due to its no gas costs and low commission fee rate which you are required to pay.
You can browse and shop for an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in the year of 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are secure and safe.
In addition as a seller you can become verified once 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 OpenSea team reviews regularly the contents to ensure users are safe.
How do I earn royalties from OpenSea?
However, as an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be reasonably low compared against other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been frequently used on this site and other sites to provide the increasing number of cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. It is easy to buy or trade cryptocurrency using reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop app?
As previously mentioned There is an official mobile app from OpenSea for both iOS and Android. You can download it through their app store and then you can begin exploring the collection now!
A Desktop application that OpenSea which can be downloaded from WebCatalog. On the desktop app you are able to manage multiple accounts as well as 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/).
