The crypto currency market is in a boom right now, and you’re probably wondering where you can invest your crypto currency. Marketplaces are popping up all over the digital web designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.
Now hop aboard, and let’s see what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft 58000
The aim to create OpenSea was to offer a platform/marketplace for artists to upload commissions without any extra fees. It has more functions which allow you to market your artwork without any problems.
When it comes to registration, you won’t have to give any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used for most processes. It is also based using the Polygon blockchain, which ensures low-cost and quicker trading.
With these two kinds of blockchains available, you can choose which one you would like to upload your NFT on as seller. This is to ensure the security of your NFT, along with those who would like to buy it. Every transaction will be conducted by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name, to a piece of art from an artist that you admire. Anyone can sell, but it takes a while for anyone to become a reputable one.
There’s a huge selection from the selection on OpenSea and you could also be a part of this! You can create your own personal market there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto 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 have heard of it but not exactly sure what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can buy can be an NFT. The NFT is a non-fungible currency which is extremely exclusive and cannot be changed. It can be a piece of rareness, such as rare baseball trading cards in mint condition or uncommon vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible item that you sell on the internet. More straightforwardly, you can simply imagine as an NFT as a digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling the owner of the item or token that you posted to the market place, but putting it up for sale. Usually, this is recognized when you have filled in the correct information about the NFT and then add it on the market.
On OpenSea it’s a straightforward process to mint your NFTs by going to the store and simply creating a collection to start! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use for it (e.g. blockchain, money transfer tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can watch and see how transactions progress from now on to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point, you’re probably wondering what kind of NFTs be purchased here and what you can sell should you decide to go that route. The type of NFT it is unlimited as there’s a variety of options for how to go about it.
It is possible to sell digital items, trading cards, game assets domain names, some physical items! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that separates OpenSea from the others. There’s no cost for gas when you utilize this feature to mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you don’t need to pay on extra fees.
There aren’t many NFT marketplaces provide this feature, which is why this is great for you to make a huge profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces that offer rewards by referring a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which means you can earn more cash by this method.
Other NFT marketplaces do not have the same feature This is a further benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell anything as you browse through the listings.
OpenSea’s mobile apps are available for the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are at your disposal to exchange your fiat money for cryptocurrency using these platforms. Nft 58000
You can exchange your fiat currency using a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option of converting them into ETH that is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all kinds of crypto, wallets are nonetheless more compatible than other. Since it is built mainly around an ETH blockchain, wallets with a connection to that network will be suitable for the site.
Here is a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage, and the function to buy cryptocurrency using the credit card. Nft 58000
For more information about the service You can go through their FAQs to get the steps you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with 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 and Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- You cannot buy or sell products via the mobile app.
- Only accepts cryptocurrency as a form of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency 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 recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft 58000
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way for selling their artwork online to receive cryptocurrency as a form of payment. It’s an ideal option for artists who want to use it to sell NFTs due to its no cost of gas and low commission fee rate which you are required to pay.
You can browse and shop for a vast collection of digital products on this NFT marketplace, so you should take a look!
Is OpenSea legit & is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since it was founded in 2018. Since the system it operates on is built on blockchain technology 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 collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the contents to ensure users are safe.
How do I earn royalties from OpenSea?
As an artist, you’ll get only 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison against others NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) has been widely used on this site as well as many others to accommodate more crypto users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize to use OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile app?
As mentioned before there’s an official mobile app by OpenSea that is available for iOS and Android. Install it from their app store and you can start exploring the collection right now!
A desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts and get notifications about updates to 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/).
