The cryptocurrency market is on the rise and you’re probably thinking where you can invest your crypto-coins. There are numerous marketplaces popping up all over the digital web designed to purchase and sell NFTs with cryptocurrency! OpenSea is among them and is worth a look.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
Now hop aboard, and let’s see what you can do with 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 will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Just 4 Growers Nft Basil
The aim of OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional charges. It has more functions that allow you to sell your work without having to deal with many problems.
When it comes to the registration process, you don’t have to worry about giving all of your personal details. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used to carry out the majority of processes. It also operates on the Polygon blockchain, which allows for lower costs and faster trading.
With these two kinds of blockchains you can pick which one you want to publish your NFT as a seller. This ensures the safety of your NFT as well as those who wish to purchase it. All transactions will be made along with this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall where you can exchange your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist that you admire. Anyone can be a seller however it takes some time before anyone can become a reputable one.
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 on this site, as well as find NFTs that you would like to purchase 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 so long on the internet that many millennials are familiar with it , but aren’t exactly sure what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible token that is very exclusive and cannot be substituted. It could be a piece of rareness like authentic baseball cards, or a rare vinyl record.
There is no limit to what an NFT can be as it’s a non-fungible thing you’re selling on the internet. It is simpler to just consider as an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and you’re selling it. Usually, this is recognized when you have filled in all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mint your NFTs by visiting the store and then creating a collection to start! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain or payment tokens). Once that’s all done you are able to upload it, if it’s within the 100 MB limit.
You can wait and observe the way transactions are handled from now on to see if 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 which kind of NFT can be found here and what kind of NFTs you can also sell if you choose to go down that path. The kind of NFT it can be is indefinite as there’s a variety of ways to do it.
You can be selling digital products, trading cards, game assets domain names, also physical goods! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that separates OpenSea from the other options. There’s no cost for gas when you utilize this feature to make and then sell the NFTs. This simply means that you’ll get the most profit when you sell because you don’t need to pay on additional fees.
There aren’t many NFT marketplaces provide this feature, so this is great for you to receive high profit from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer advantages when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the sales amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
OpenSea’s mobile apps are available on the two platforms of iOS in addition to Android. Even though you can’t buy or sell something, 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 convert your fiat money into cryptocurrency using these platforms. Just 4 Growers Nft Basil
You can convert your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option to exchange for ETH, which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built on an ETH blockchain, all wallets that share this network are appropriate for this site.
Here’s a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage, and the function to purchase cryptocurrency with a credit card. Just 4 Growers Nft Basil
For more information about the service You can go through their FAQs to get the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps are available for iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty rates).
- It is not possible to buy or sell items through the mobile app.
- Only supports cryptocurrency as its method of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Just 4 Growers Nft Basil
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform to market their work online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists using the platform to market NFTs due to its low gas fees and the low commission rate that you have to pay.
You can shop and browse the vast array of digital items on the NFT marketplace and you must go through it!
Is OpenSea legitimate and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established in 2018. Because its system is based on a blockchain, it is safe to say that your transactions are protected and secured.
Furthermore, as a seller, you can become verified once you build up your reputation. A blue checkmark will appear to your account or the collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are secure.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you’ll be paid only 10% of the royalties once you have uploaded the NFT. This is believed to be reasonably low compared to other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) can be commonly utilized on this website and many others to accommodate 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 use to use OpenSea.
What are the payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile app?
As mentioned before There is an official mobile app by OpenSea that is available for iOS or Android. You can download it through their app store, and you can start browsing through the collection right now!
The version for desktops that OpenSea can be downloaded via WebCatalog. With the desktop application, you can manage multiple accounts and receive notifications on updates regarding your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
