Mike Walden Nft

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The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto coins. Markets have popped up all over the digital web designed to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth looking into.

If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the largest and most popular marketplaces for cryptocurrency users because of its security and quick transactions.

Now hop aboard, and let’s explore what you can do with OpenSea, along with checking the NFTs that you can see!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Mike Walden Nft

The purpose of OpenSea was to offer a platform/marketplace for artists to upload commissions, without having to pay any additional costs. It has more functions which allow you to market your art without too many difficulties.

In terms of registration, you don’t need to worry about giving too many details about yourself. All you have to do is connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for most processes. It is also based on the Polygon blockchain to ensure low-cost and quicker trading.

There are two types of blockchains it is possible to choose which one you’d like to upload your NFT on as seller. This ensures the safety of your NFT and those who would like to purchase it. All transactions are made along with this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace that lets you trade your NFTs or cryptocurrency 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 an established seller.

There are a variety of NFTs from the selection at OpenSea and you can become a part of the collection! You can set up your own market there, and also find NFTs you want to purchase for yourself.

Mike Walden Nft

> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the crypto industry, the term “NFT” has been going around so long on the internet that a lot of millennials are familiar with it but not exactly sure what it is. Let’s take a look at what NFT is for any beginners in cryptocurrency.

One of the new things that you can buy with cryptocurrency includes an NFT. An NFT is a non-fungible currency that is individual and cannot be changed. It could be an item of rareness, such as rare baseball trading cards in mint condition or a rare vinyl record.

There’s no limit to what an NFT can be as it’s a non-fungible thing you’re selling online. In simpler terms, you could simply consider an NFT being a virtual collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs on your own NFTs. You’re claiming the owner of the item or token that you posted to the market place, but putting it up for sale. Typically, this is official after you fill in the correct information about the NFT and then add it on the market.

On OpenSea It’s a very simple process to mint your NFTs by visiting the store and making a collection to begin! Complete the correct and complete information about your NFT and choose what kind of settings you’d like for it (e.g. blockchain and payment tokens). Once that’s all done, you can finally upload it to the internet if it’s in the limit of 100MB.

You can wait and observe how the transactions go from now on to see whether OpenSea is the best marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs can you get here?

So, at this point you’re probably asking yourself which kind of NFT can be purchased here and what you can also sell if you choose to go down that path. The type 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 when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that differentiates OpenSea from other companies. There are no gas costs for using this feature to make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you won’t have to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, and it can be a fantastic way to make a huge profit from your NFT collection.

Referral Program

A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets that offer advantages by referring your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, letting you earn more money by this method.

Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea has over them.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

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

OpenSea’s mobile apps are available for the two platforms of iOS in addition to Android. While you’re not able to buy or sell things, you can at least explore the products you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are to you to trade your fiat currency for cryptocurrency using these platforms. Mike Walden Nft

You can swap your fiat currency using a the credit card, or Paypal via these reputable websites for cryptocurrency:

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

All of these have the option of converting them into ETH which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built on the ETH blockchain, wallets with a connection to the same network are suitable for the site.

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

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only and the ability to buy cryptocurrency using credit cards. Mike Walden Nft

For more information about the service You can go through their FAQs for the steps you can get started and what other crypto wallets work with OpenSea.

ethereum-coins

> > 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 available that are compatible with iOS and Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties 10% to artists (low royalty).
  • It is not possible to buy or sell items on the mobile app.
  • Only supports cryptocurrency as its form of payment.
  • A Crypto account is needed to use this marketplace.

Pricing

OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re a seller, 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 are actively selling since there is no additional fee for it.

Frequently Asked Questions Mike Walden Nft

What is OpenSea?

OpenSea is an NFT marketplace that seeks to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no gas fees and low commission fee rate you must pay.

You can shop and browse a vast collection of digital goods in this NFT marketplace, so you should take a look!

Is OpenSea legit & secure?

Answer: Yes! OpenSea has been a reliable marketplace since its inception at the end of the year of 2018. Since its system is based on a blockchain that is secure, you can say that your transactions are safe and secure.

In addition as a seller you can become verified once you’ve earned a reputation. A blue checkmark is placed to your account or the collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are safe.

How can I earn royalties from OpenSea?

However, as an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is considered to be quite low in comparison against others NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) can be widely used on this site as well as other sites to provide many more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can make use of for OpenSea.

How do I pay for OpenSea? What are my payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea has a mobile or desktop application?

As mentioned before there’s an official mobile app from OpenSea for both iOS or Android. Install it from their app store, and begin exploring the collection right now!

A Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications about updates to your account from 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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