The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto-coins. Markets have popped up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is one of them and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It’s one of the largest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.
Now hop aboard, and discover what you can do with OpenSea and also see what NFTs you can view!
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 of OpenSea.
OpenSea as an NFT Marketplace Ian Utile Twitter Nft
The goal to create OpenSea was to simply provide a platform/marketplace for artists to upload commissions without any extra fees. It also has additional functions which allow you to market your work without having to deal with many problems.
For registration, you won’t have to give any personal information about yourself. All you need to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology which is utilized for most processes. It is also based using the Polygon blockchain, which allows for lower costs and faster trading.
With these two kinds of blockchains, you can choose which one you want to transfer your NFT to as an seller. This is to ensure the security of your NFT, along with those who would like to purchase it. All transactions will be made along with this 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 trade in your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist that you admire. Anyone can be a seller, but it takes some time before anyone can become an established seller.
There’s a huge selection in the collection of NFTs available at OpenSea, and you can become a part of that! You can create your own personal market there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that many millennials are familiar with it but aren’t sure exactly what it means. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the latest ways that you can buy with cryptocurrency can be an NFT. An NFT is a token that is non-fungible that is very exclusive and cannot be replaced. This can be an item of rareness, such as authentic baseball cards or a uncommon vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible object that you can sell online. More straightforwardly, you can just think of the NFT as a digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You’re claiming ownership over that particular token/item you uploaded on the marketplace, and you’re selling it. Usually, this becomes official once you fill out all the necessary information about the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and simply create a collection! Fill out the proper and accurate information about your NFT and then select what type of settings you’d like to use to use it with (e.g., blockchain, payments tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.
You can wait and observe the way transactions are handled from now on to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably asking yourself what kind of NFTs be purchased here and what you can sell should you decide to go down that path. The kind of NFT it can be isn’t limited as there’s a variety of how you can go about it.
You could be selling trade cards, digital goods game assets domain names, even physical assets! Find out what you think will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that differentiates OpenSea from other companies. There’s no cost for gas when you use this feature to make and then sell the NFTs. This means you’ll get the most profit when you start selling because you won’t have to spend on additional fees.
Very few NFT marketplaces have this feature, which is why this is great for you to earn a high return from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces there are advantages by referring a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll earn 2.50% of the sale amount, letting you earn more cash by this method.
Other NFT marketplaces do not have this kind of feature either 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 app, but it’s mostly used to browse the marketplace. It isn’t able to purchase or sell anything as you browse through the listings.
The mobile apps from OpenSea are accessible for both 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 looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use You can also exchange your fiat money for cryptocurrency using these platforms. Ian Utile Twitter Nft
You can swap 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 many more!
Each of them has the option of exchange for ETH, which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all forms of crypto, wallets are still more compatible with it than others. Since it is built around the ETH blockchain, wallets which are part of that network will be suitable for this site.
Here’s a list different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Ian Utile Twitter Nft
To know more about it You can go through their FAQs to get an overview of how you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Mobile apps are available for iOS or Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalties 10% for artists (low royalties).
- You cannot buy or sell products through the mobile app.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. But overall, you can easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Ian Utile Twitter Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way to market their work online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use it to sell NFTs because of its zero cost of gas and the low commission rate that you have to pay.
You can browse and shop for an array of digital goods in this NFT marketplace and you must take a look!
Is OpenSea legitimate and safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established in 2018. Since its system is built on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.
In addition as a seller you can become verified once you have built up your credibility. A blue checkmark will be assigned to your account or collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are secure.
How can I earn royalties on OpenSea?
As an artist, you will receive only up to 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison with the other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) can be widely used on this site as well as other sites to provide more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea has a mobile or desktop application?
As previously mentioned there’s an official mobile app from OpenSea that is available for iOS and Android. Install it from their app store, and you can start exploring the collection now!
A Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app you can manage multiple accounts and receive alerts on any updates that affect 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/).
