The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto coins. There are numerous marketplaces popping up across the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea is among them and is worth checking out.
If you’re interested in crypto, you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
Now hop aboard, and let’s see what you can do with OpenSea, along with checking what NFTs you can view!
Before you continue, 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 Invest In OpenSea
The goal for OpenSea was to simply provide an online marketplace for artists to upload their commissions with no additional charges. It also has additional functions which allow you to market your art without too many issues.
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 with OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for the majority of transactions. It also functions using the Polygon blockchain, which ensures 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 ensures the safety of your NFT as well as those who wish to buy it. All transactions are made by using the blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art from an artist that you admire. Anyone can become a seller however it takes a while for anyone to become an established seller.
There’s a huge selection of NFTs available at OpenSea and you could become a part of this! You can set up your own market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market the term “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t sure exactly what it is. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. A NFT is a token that is non-fungible that is very exclusive and cannot be substituted. This can be an item of rareness, such as mint-condition baseball trading cards, or a uncommon vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could simply consider as an NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You are calling the ownership of the particular item you uploaded on the marketplace, and putting it up for sale. Usually, this is recognized when you have filled in the correct information about the NFT and upload it to the marketplace.
On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and then creating a collection to start! Complete the correct and complete information about your NFT and select the type of settings you’d like for it (e.g., blockchain and money transfer tokens). Once that’s all done you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see the way transactions are handled from now on 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 wondering the kind of NFTs can you shop for here, and what you could also sell if you decide to go that route. The kind of NFT it can be isn’t limited because there’s a wide range of options for how to go about it.
You could be selling digital products, trading cards game assets, domain names, and also physical goods! Find out what you think will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from other companies. There are zero gas fees for using this feature to create and market NFTs. This means you’ll be able to make the highest profits once you sell because you won’t have to spend on extra fees.
There aren’t many NFT marketplaces provide this feature, which is why this is great for you to earn a high return from your portfolio.
Referral Program
The Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets, you can receive rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which allows you to earn more cash from this act.
Other NFT marketplaces don’t offer this kind of feature either, so that’s just another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. Even though you can’t buy or sell things, you can browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use You can also exchange your fiat money for cryptocurrency through these platforms. Invest In OpenSea
You can exchange the fiat currency you have with a the credit card, or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of them have the option of exchange for ETH which is the most common cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built mainly using the ETH blockchain, all wallets that share this network are appropriate for this site.
Here is a list of different crypto wallets 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 including simple registration, only mobile usage and the ability to buy cryptocurrency using a credit card. Invest In OpenSea
To learn more about it to learn more, check out their FAQs to see an overview of how you can start and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- Cannot buy or sell via the mobile app.
- Only accepts cryptocurrency as a type of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Invest In OpenSea
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance to sell their works online to receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use it to sell NFTs due to its low gas costs and the low commission rate which you are required to pay.
You can browse and shop for an array of digital goods in this NFT marketplace which is why you should definitely take a look!
Is OpenSea legitimate and is it safe?
The short answer is yes! OpenSea is a reputable marketplace since it was founded in the year of 2018. Because 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 can become verified once you’ve earned a reputation. A blue checkmark will be assigned to your account or the collection you’ve uploaded to ensure the safety of any customer. The OpenSea team reviews regularly the contents to ensure users are secure.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you can get only 10 percent of the royalties after you upload the NFT. This is believed to be a reasonable amount compared against the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be frequently used on this site and numerous others to cater for many more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of for OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can easily purchase or sell cryptocurrency through trusted platforms with fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier There is an official mobile application from OpenSea that is available for iOS or Android. Download it at their respective app store and begin browsing through the collection right now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications about updates to 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/).
