Nft 2021 Draft

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The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up across the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.

So, hop on board and let’s see the possibilities of 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 will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft 2021 Draft

The goal of OpenSea was to provide artists with a marketplace/platform to upload commissions with no additional fees. There are additional features that allow you to sell your art without too many problems.

For registration, you don’t need to give 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 easy as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for most processes. It also functions on the Polygon blockchain, which ensures the lowest cost and speediest trading.

With these two types of blockchains available it is possible to choose which one you want to transfer your NFT to as an seller. This will ensure the security of your NFT and those who would like to purchase it. All transactions are 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 mall where you can exchange your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can sell however, it takes a while for anyone to be an established one.

There’s a huge selection in the collection of NFTs available at OpenSea, and you can become a part of that! You can create your own personal market on this site, as well as find NFTs that you would like to purchase for yourself.

Nft 2021 Draft

> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on 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 any beginners in the field of cryptocurrency.

One of the latest ways you can buy can be an NFT. An NFT is a non-fungible currency that is unique and can’t be substituted. This can be an item of any rareness like 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 thing you’re selling online. In simpler terms, you could just consider as an NFT to be a type of digital item paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots to your NFTs. You’re claiming the owner of the item or token that you have uploaded to the market place, but selling it. Typically, this is official when you have filled in the proper information regarding the NFT and finally upload it to the marketplace.

On OpenSea, it’s a simple procedure to create your own NFTs by going to the store and simply making a collection to begin! Input the appropriate and correct information regarding your NFT and then select what type of settings you’d like to use to use it with (e.g. blockchain or payment tokens). After that, you can finally upload it to the internet if it’s in the 100 MB limit.

It is possible to wait and see how the transactions go from here on out to see whether OpenSea is the marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs are available here?

At this point, you’re probably wondering what kind of NFTs can be purchased here, and what you could also sell if you choose to go down that path. The kind of NFT it can be isn’t limited since there’s a broad range of options for how to go about it.

It is possible to sell trade cards, digital goods, game assets domain names, some physical items! Consider what you believe will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what differentiates OpenSea from the others. There are zero gas fees for using this feature to create and market 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 extra fees.

Not many NFT marketplaces have this feature, and it is a great way to make a huge profit from your collection.

Referral Program

A Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets there are benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the purchase amount, which means you can make more money from this act.

Other NFT marketplaces don’t offer this feature, so that’s just another advantage OpenSea has over them.

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> > 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 listings.

The mobile apps of OpenSea are available for both iOS as well as Android. While you’re not able to buy or sell anything, you can still browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are to you You can also convert your fiat money into cryptocurrency using these platforms. Nft 2021 Draft

You can convert your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:

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

All of them have the option to exchange for ETH which is the most common cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built around the ETH blockchain, all wallets which are part of that network will be suitable for this site.

Here’s a list of several crypto wallets you can utilize in OpenSea:

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage, and the function to buy cryptocurrency using the credit card. Nft 2021 Draft

To learn more about it You can go through their FAQs to see a rundown of how you can begin and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:

Pros

  • Mobile apps available for iOS or Android.
  • Smart contracts are utilized 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 royalties).
  • It is not possible to buy or sell items on this mobile application.
  • Only accepts cryptocurrency as a type of payment.
  • A Crypto digital wallet must be used to use this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly recover this amount if you sell regularly since there’s no additional cost for it.

Frequently Asked Questions Nft 2021 Draft

What is OpenSea?

OpenSea is an NFT marketplace that seeks to offer artists a way to market their work online, and to accept cryptocurrency as their form of payment. It’s a great platform for artists who use for selling NFTs due to its no gas costs and low commission fee rate you must pay.

You can browse and purchase an array of digital products on this NFT marketplace and you must take a look!

Is OpenSea legitimate and is it safe?

The short answer is yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in 2018. Because its system is based on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.

Furthermore, as a seller, you can become verified once you build up your reputation. A blue checkmark will be assigned on your account or the collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the content to ensure that users are secure.

How can I earn royalties on OpenSea?

However, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is considered to be a reasonable amount compared with other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as numerous others to cater for many more cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use to use OpenSea.

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

OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal for the transaction.

Does OpenSea has a mobile or desktop application?

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

A desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts as well as receive notifications on updates regarding 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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