Lets Vs Nft Asset Blockchain

opensea-review

Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto coins. Markets have popped up all over the digital web designed to sell and buy NFTs via cryptocurrency! OpenSea is one of them, and it’s worth a look.

If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and leading marketplaces among cryptocurrency users because of its safety and speedy transactions.

Get on board, and let’s explore the possibilities of OpenSea, along with checking the NFTs that you can see!

open-sea-logo

Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Lets Vs Nft Asset Blockchain

The goal of OpenSea was to offer artists with a marketplace/platform to easily upload their commissions without any extra fees. It also has additional functions that allow you to sell your artwork without any problems.

When it comes to registration, you won’t have to give any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for most processes. It also functions on the Polygon blockchain, which allows for lower costs and faster trading.

With these two types of blockchains available, you can choose which one you would like to upload your NFT on as an seller. This ensures the safety of your NFT and those who would like to purchase it. All transactions will be made along with this blockchain, so you should think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online mall where you can trade in your cryptocurrency or NFTs 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 be a seller, but it takes a while for anyone to be an established one.

There are a variety of NFTs from the selection of NFTs available at OpenSea and you can also be a part of the collection! You can set up your own market here, along with finding NFTs you want to purchase for yourself.

Lets Vs Nft Asset Blockchain

> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent advancement for the crypto industry, 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 means. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the new things you can purchase your cryptocurrency is an NFT. An NFT is a token that is non-fungible which is extremely unique and can’t be changed. It could be an item of rareness like rare baseball trading cards in mint condition, or a unique vinyl album.

There’s no limit on what an NFT could be, since it’s a non-fungible thing that you sell on the internet. In simpler terms, you could simply think of the NFT to be a type of digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots on your own NFTs. You are calling ownership over that particular token/item that you have uploaded to market, as you’re selling it. Usually, this is recognized after you fill in the correct information about the NFT and finally upload it to the marketplace.

On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and creating a collection to start! Complete the correct and accurate information about your NFT and then select what type of settings you’d like to use for it (e.g. blockchain and payments tokens). After that, you can finally upload it to the internet if it’s in the 100 MB limit.

You can watch and see the way transactions are handled from now on to see whether OpenSea is the best marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs are available here?

So, at this point you’re probably thinking about what kind of NFTs be purchased here and what you can also sell if you choose to go down that path. The type of NFT it can be isn’t limited because there’s a wide range of options for how to approach it.

You could be selling digital products, trading cards game assets domain names, also physical goods! Find out what you think will bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what differentiates OpenSea from the other options. There are no gas costs when you utilize this feature to make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you start selling because you won’t need to spend on any additional charges.

Very few NFT marketplaces have this feature, and it is great for you to make a huge profit from your portfolio.

Referral Program

The Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are benefits by referring a friend to OpenSea! If you invite a friend to 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 the same feature, so that’s just another benefit OpenSea has over them.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse the marketplace. It isn’t able to purchase or sell items as you browse through the listing.

OpenSea’s mobile apps are available for both iOS as well as Android. Even though you can’t buy or sell something, you can at least look through the options you’re interested in on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available at your disposal to trade your fiat currency for cryptocurrency on these platforms. Lets Vs Nft Asset Blockchain

You can convert your fiat money via credit card or Paypal via these reputable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

Each of them has the option of converting them into ETH that is the standard crypto payment in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets still more compatible with it than others. Since it is built around the ETH blockchain, wallets that share the same network are suitable for this website.

Here is a list of various crypto wallets that you can utilize 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 one has its own set of limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency using the credit card. Lets Vs Nft Asset Blockchain

To learn more about it You can go through their FAQs to see the steps you can begin and also what other crypto wallets work with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like all crypto markets, each one 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 and Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto market and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • It is not possible to buy or sell items on this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • A Crypto account is needed for this marketplace.

Pricing

OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. In the end, you’ll quickly recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions Lets Vs Nft Asset Blockchain

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to provide artists a platform for selling their artwork online to receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use the platform to market NFTs because of its zero cost of gas and low commission fees that you have to pay.

You can browse and shop for an array of digital items on the NFT marketplace which is why you should definitely go through it!

Is OpenSea legitimate and secure?

Short answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in the year 2018. Because its system is built on a blockchain, it is safe to claim that your transactions are secure and safe.

In addition as a seller you’ll be verified when you build up your reputation. 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 contents to ensure users are safe.

How can I earn royalties on OpenSea?

However, as an artist, you will receive only up to 10% of the royalties once you upload the NFT. This is thought to be quite low in comparison with the other NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) is frequently used on this site and many others to accommodate 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 utilize to use OpenSea.

What are the payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea have a desktop or mobile application?

As we mentioned earlier there’s an official mobile application from OpenSea for both iOS and Android. You can download it through their app store and then you can begin browsing through the collection right now!

There is also a Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts as well as receive alerts on any updates that affect 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/).

block-chain

> > Click Here to Explore OpenSea < <

error: Content is protected !!