The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto coins. Markets have popped up all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth checking out.
If you’re interested in crypto you’ve likely heard of OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea, along with checking the NFTs available to view!
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 our article for a more comprehensive review.
OpenSea as an NFT Marketplace Marijuana Nft
The purpose for OpenSea was to provide a platform/marketplace for artists to upload their commissions with no additional fees. There are additional features 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 have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be 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 marketplace is built on the Ethereum blockchain technology and is used for the majority of transactions. It is also based with the Polygon blockchain, which allows for lower costs and faster trading.
There are two types of blockchains available, you can choose which one you want to upload your NFT on as seller. This ensures the safety of your NFT as well as those who wish to buy it. All transactions will be made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless 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 an official artwork by an artist you admire. Anyone can be a seller however it takes time before anyone can become an established one.
There are a variety of NFTs in the collection on OpenSea and you could join in with the collection! You can set up your own personal 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?
A recent change in the crypto market the term “NFT” has been going around so long on the internet that a lot of millennials are familiar with it , but aren’t sure exactly what it is. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a non-fungible currency that is individual and cannot be replaced. This can be an item of rarity like authentic baseball cards or a rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible object that you can sell online. More straightforwardly, you can just consider the NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item that you have uploaded to market, as offering it for sale. Usually, this becomes official after you fill in the correct 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 then making a collection to begin! Input the appropriate and complete information about your NFT and then select what type of settings you’d like to use for it (e.g. blockchain or money transfer tokens). Once that’s all done then you’re able to upload it, if it’s within the 100 MB limit.
You can watch and see the way transactions are handled from here on out to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably thinking about what kind of NFTs be found here, and what you could sell should you decide to go that route. The kind of NFT it is unlimited as there’s a variety of ways to go about it.
You could be selling digital items, trading cards, game assets domain names, some physical items! Explore what you believe can yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that differentiates OpenSea from other companies. There are zero gas fees when you utilize this feature to mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t have to spend on any additional charges.
Very few NFT marketplaces offer this feature, so this is a great way to earn a high return from your collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets, you can receive advantages by referring someone else to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site you’ll earn 2.50% of the sale amount, which allows you to make more money through this action.
Other NFT marketplaces do not have the same feature 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 to browse the marketplace. You can’t buy or sell anything while you scroll through the list.
OpenSea’s mobile apps are available for both iOS in addition to Android. While you’re not able to buy or sell anything, you can still look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are for you to use to trade your fiat currency for cryptocurrency using these platforms. Marijuana Nft
You can convert your fiat currency using a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
Each of them has the option to exchange for ETH which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of crypto, wallets are still more compatible with it than other. Since it is built mainly using an ETH blockchain, any wallets with a connection to this network are appropriate for the site.
Here’s a list several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with a credit card. Marijuana Nft
To know more about it, you can check their FAQs to see an overview of how 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 every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty rates).
- Cannot buy or sell on the mobile app.
- Only accepts cryptocurrency as a type of payment.
- An Crypto wallet is required to use this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Marijuana Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its low gas fees and low commission fee rate which you are required to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace and you must check it out!
Is OpenSea legitimate and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception in the year 2018. Since the system it operates on is built on a blockchain that is secure, you can declare that transactions are protected and secured.
In addition, as a seller, you can become verified once you build up your reputation. A blue checkmark will appear next to your account or any collection that you have uploaded to assure any customer. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is believed to be quite low in comparison with the other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be frequently utilized on this website and other sites to provide many more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can utilize for OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before there’s an official mobile application from OpenSea for both iOS and Android. Install it from their app store, and then you can begin browsing through the collection right now!
The Desktop application that OpenSea can be downloaded via WebCatalog. With the desktop application you can manage multiple accounts and get 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/).
