Cryptocurrency is booming right now and you’re probably wondering where you can invest your crypto-coins. Markets have popped up across the digital web designed to sell and buy NFTs with cryptocurrency! OpenSea can be one, and it’s worth checking out.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It’s one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
So, hop on board and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!
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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Hydroponic Nft Wholesale
The aim to create OpenSea was to provide a platform/marketplace for artists to upload commissions with no additional costs. There are additional features that let you sell your art without too many issues.
When it comes to registration, you don’t need to give all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for the majority of transactions. It also functions using the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains you can pick which one you’d like to publish your NFT as a seller. This ensures the safety of your NFT and those who would like to buy it. Every transaction will be conducted along with this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name, to a piece of art by 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 from the selection at OpenSea and you could also be a part of the collection! You can set up your own personal 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 a lot of millennials are familiar with it but aren’t exactly sure what it is. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways you can buy includes an NFT. A NFT is a token that is non-fungible that is exclusive and cannot be substituted. It can be an item of any rareness, such as mint-condition baseball trading cards or uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible object that you sell on the internet. More straightforwardly, you can just think of as an NFT to be a type of digital 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 you’re selling it. Usually, this becomes official after you fill in all the necessary information about the NFT and finally add it on the market.
On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and simply making a collection to begin! Input the appropriate and complete information about your NFT and select the 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 limit of 100MB.
It is possible to wait and see how transactions progress from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about the kind of NFTs you shop for here, and what you could also sell if you choose to go down that path. The type of NFT it can be isn’t limited as there’s a variety of how you can go about it.
You could be selling digital products, trading cards games, domain names, and some physical items! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that sets OpenSea from the other options. There are no gas costs when you utilize this feature when you mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you don’t need to pay on additional fees.
Very few NFT marketplaces provide this feature, so this is a great way to earn a high return from your portfolio.
Referral Program
The Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces, you can receive advantages when you refer your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have this kind of feature either 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 is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available at your disposal to exchange your fiat money for cryptocurrency using these platforms. Hydroponic Nft Wholesale
You can convert the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
Each of them has the option of exchange for ETH, which is the most common crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are still more compatible with it than others. Since it is built mainly around the ETH blockchain, any wallets that share that network will be suitable for this website.
Here is a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency using credit cards. Hydroponic Nft Wholesale
To learn more about it to learn more, check out their FAQs for a rundown of how you can begin and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties 10% to artists (low royalties).
- It is not possible to buy or sell items through our mobile apps.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto wallet is required to use this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Hydroponic Nft Wholesale
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists using for selling NFTs due to its low gas costs and low commission fee rate which you are required to pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace, so you should take a look!
Is OpenSea legit & secure?
The short answer is yes! OpenSea has been a reliable marketplace since it was founded at the end of the year 2018. Since the system it operates on is built on blockchain technology that is secure, you can claim that your transactions are secure and safe.
In addition, as a seller, you will be verified after you have built up your credibility. A blue checkmark will be assigned on your account or collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure that users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you’ll be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be quite low in comparison against others NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as other sites to provide more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop application?
As previously mentioned there’s an official mobile application from OpenSea available for both iOS and Android. Install it from their app store and begin browsing through the collection right now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application, you can 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/).
