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Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto-coins. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea is among them, and it’s worth a look.

If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea previously for a valid reason. It’s one of the largest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea as well as examining what NFTs you can view!

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

OpenSea as an NFT Marketplace Mail Von Dkb-Cash / Miles & More- / Porsche Credit Card / Pn 4362021111 / Nft

The goal of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions without any extra charges. It also has additional functions that let you sell your artwork without any issues.

For registration, you won’t have to provide any personal information about yourself. All you have to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system and 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 types of blockchains that are available, you can choose which one you want to upload your NFT on as an seller. This ensures the safety of your NFT, along with those who wish to buy it. All transactions will be made along with this blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist you admire. Anyone can be a seller however it takes time for anyone to become an established one.

There is a wide variety in the collection of NFTs available at OpenSea, and you can join in with that! You can create your own marketplace on this site, as well as find NFTs that you would like to purchase yourself.

Mail Von Dkb-Cash / Miles & More- / Porsche Credit Card / Pn 4362021111 / Nft

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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 the internet that the majority of young people are familiar with it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.

One of the new things you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible currency that is unique and can’t be changed. It could be a piece of rarity like authentic baseball cards or a rare vinyl record.

There’s no limit on what an NFT can be since it’s a non-fungible item that you can sell on the internet. It is simpler to just consider an NFT as a digital item that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item you uploaded on the marketplace, and you’re putting it up for sale. Typically, this is official once you fill out all the necessary information about the NFT and submit it for sale on.

On OpenSea It’s a very simple process to mine your NFTs by visiting the store and making a collection to begin! Complete the correct 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 or payment tokens). Once that’s all done, you can finally upload it if it fits the 100 MB limit.

It is possible to wait and see the way transactions are handled from here on out to see if OpenSea is the best marketplace for you.

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What NFTs are available here?

At this point you’re probably asking yourself the kind of NFTs be found here and what kind of NFTs you can also sell if you decide to go down that path. The kind of NFT it can be is unlimited since there’s a broad range of options for how to do it.

You can be selling digital products, trading cards, game assets domain names, even physical assets! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The collection Manager function is the one that separates OpenSea from the other options. There are no gas costs when you use this feature to create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you start selling because you won’t need to spend on extra fees.

Not many NFT marketplaces provide this feature, which is why this is a great way to receive high profit from your collection.

Referral Program

The Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which means you can earn more money by this method.

Other NFT marketplaces don’t offer this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.

The mobile apps of OpenSea are available on both iOS in addition to Android. Although you aren’t able to purchase or sell things, you can at least browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are to you You can also trade your fiat currency for cryptocurrency through these platforms. Mail Von Dkb-Cash / Miles & More- / Porsche Credit Card / Pn 4362021111 / Nft

You can swap your fiat money via the credit card, or Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and more!

Each of them has the option of converting them into ETH, which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea can be described as an NFT marketplace open to all kinds of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built on an ETH blockchain, any wallets that share the same network are suitable for this website.

Here’s a list various crypto wallets that which you can use with OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, only mobile usage, and the function to purchase cryptocurrency with credit cards. Mail Von Dkb-Cash / Miles & More- / Porsche Credit Card / Pn 4362021111 / Nft

To know more about it, you can check their FAQs to get an overview of how you can start and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps available for iOS as well as Android.
  • Smart contracts are used for transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalties).
  • You cannot buy or sell products through this mobile application.
  • Only supports cryptocurrency as its form of payment.
  • A Crypto digital wallet must be used to access 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 that all buyers on the marketplace. In the end, you’ll easily recover that amount when you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Mail Von Dkb-Cash / Miles & More- / Porsche Credit Card / Pn 4362021111 / Nft

What is OpenSea?

OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online, and to accept cryptocurrency as a form of payment. It’s a great option for artists who want to use it to sell NFTs because of its zero cost of gas and low commission fees that you have to pay.

You can shop and browse the vast array of digital products on this NFT marketplace, so you should go through it!

Is OpenSea legit & safe?

The short answer is yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in 2018. Because its system is built on a blockchain that is secure, you can say that your transactions are secure and safe.

Additionally, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will appear to your account or the collection you’ve uploaded to ensure the safety of any customer. OpenSea’s team regularly reviews the content to ensure that users are safe.

How do I earn royalties from OpenSea?

However, 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 against other NFT marketplaces.

What cryptocurrency is accessible in OpenSea?

Ethereum (ETH) can be frequently used on this site and many others to accommodate more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can utilize for OpenSea.

What are the payment options for OpenSea?

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

Does OpenSea has a mobile or desktop app?

As we mentioned earlier There is an official mobile application from OpenSea for both iOS or Android. Download it at their respective app store, and then you can begin exploring the collection now!

The Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to 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/).

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