The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto-coins. Markets have popped up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Now hop aboard, and discover what you can do with OpenSea and also see the NFTs that you can see!
Before you continue, you may want to check out 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 Nft 112.45-113.60
The purpose for OpenSea was to simply provide an online marketplace for artists to upload their commissions without any extra charges. There are additional features that allow you to sell your work without having to deal with many difficulties.
In terms of registration, you won’t have to worry about giving too many details about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It also functions with the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two kinds of blockchains that are available, you can choose which one you’d like to upload your NFT on as an seller. This ensures the safety of your NFT as well as the people who want to buy it. Every transaction will be conducted 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 that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name, to a piece of art by an artist you admire. Anyone can be a seller, but it takes time for anyone to be an established one.
There are a variety of NFTs from the selection on OpenSea and you could become a part of the collection! You can create your own personal market here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry, the term “NFT” has been going around for so long on the internet that many millennials have heard of it but not exactly sure what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the new things you can buy includes an NFT. The NFT is a non-fungible token which is extremely exclusive and cannot be substituted. It can be an item of rareness, such as mint-condition baseball trading cards, or a uncommon vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell online. It is simpler to just think of an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. You’re claiming the ownership of the particular item you uploaded on market, as selling it. Typically, this is official once you fill out all the necessary information about the NFT and 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 complete information about your NFT and choose what kind of settings you’d like for it (e.g., blockchain, money transfer tokens). Once that’s all done you are able to upload it if it fits the 100 MB limit.
You can wait and observe how the transactions go from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably thinking about what kind of NFTs be purchased here, and what you could also sell if you choose to pursue that route. The type of NFT it can be is unlimited as there’s a variety of ways to approach it.
It is possible to sell trade cards, digital goods games, domain names, and also physical goods! Consider what you believe will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from other companies. There are no gas costs when you use this feature to create and market NFTs. This means you’ll get the most profit when you sell because you don’t need to pay on additional fees.
Very few NFT marketplaces offer this feature, and it can be a fantastic way to earn a high return from your collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces there are rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll earn 2.50 percent of the purchase amount, which allows you to make more money by this method.
Other NFT marketplaces do not have this kind of feature either and that’s another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
OpenSea’s mobile apps are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell something, you can at least explore the products you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available at your disposal, and you can trade your fiat currency for cryptocurrency on these platforms. Nft 112.45-113.60
You can convert your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of these have the option of converting them into ETH which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Because it is based on an ETH blockchain, wallets that share this network are appropriate for this website.
Here’s a list various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage as well as the capability to purchase cryptocurrency with the credit card. Nft 112.45-113.60
For more information about the service, you can check their FAQs for the steps you can begin and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalties).
- Cannot buy or sell on this mobile application.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto wallet is required to use this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Nft 112.45-113.60
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance for selling their artwork online and receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use for selling NFTs because of its zero gas fees and the low commission rate which you are required to pay.
You can shop and browse the vast array of digital items on the NFT marketplace, so you should take a look!
Is OpenSea legit & safe?
Answer: Yes! OpenSea has been a trusted marketplace since its inception at the end of the year of 2018. Since the system it operates on is based on a blockchain that is secure, you can say that your transactions are protected and secured.
In addition as a seller you can become verified once you have built up your credibility. A blue checkmark is placed next to your account or collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the content to ensure that users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be quite low in comparison with others NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been widely used on this site as well as many others to accommodate many more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As mentioned before There is an official mobile app by OpenSea for both iOS as well as Android. Download it at their respective app store and then you can begin exploring the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and receive notifications on updates regarding your account when you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
