The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto-coins. Marketplaces are popping up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is among them and is worth checking out.
If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid transactions.
Now hop aboard, and let’s explore what you can do with OpenSea, along with checking what NFTs you can view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft 8-4 With 2 Inch, Round Hole Covers W Optional Rack
The purpose of OpenSea was to offer artists with a marketplace/platform to upload their commissions, without having to pay any additional fees. There are additional features which allow you to market your art without too many issues.
When it comes to registration, you don’t need to worry about giving any personal information about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it, and this is used for the majority of transactions. It also operates on the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains available, you can choose which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT, along with those who wish to purchase it. Every transaction will be conducted along with this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to official art from an artist you admire. Anyone can become a seller, but it takes time for anyone to be a reputable one.
There are a variety of NFTs of NFTs available at OpenSea and you can join in with the collection! You can create your own personal market there, and also find NFTs you’d like to buy for yourself.
> > 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 have heard of it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible token which is extremely exclusive and cannot be changed. It can be an item of rarity like rare baseball trading cards in mint condition, or a uncommon vinyl record.
There is no limit to what an NFT can be as it’s a non-fungible object that you can sell online. In simpler terms, you could simply think of an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots for your personal NFTs. You are calling the ownership of the particular item you uploaded on the market place, but you’re putting it up for sale. Usually, this is recognized when you have filled in all the necessary information about 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 creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like for it (e.g. blockchain or payment tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.
You can watch and see how transactions progress from here on out to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably asking yourself the kind of NFTs be purchased here and what you can also sell if you choose to pursue that route. The kind of NFT it can be isn’t limited because there’s a wide range of ways to do it.
It is possible to sell digital products, trading cards, game assets domain names, some physical items! 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 when you use this feature when you mint and sell NFTs. This means you’ll receive the maximum profits when you begin selling since you don’t need to pay on any additional charges.
There aren’t many NFT marketplaces offer this feature, and it is a great way to receive high profit from your portfolio.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are advantages by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which means you can make more money through this action.
Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
OpenSea’s mobile apps are available on the two platforms of iOS and Android. Although you aren’t able to purchase or sell something, you can at least browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available at your disposal You can also convert your fiat money into cryptocurrency through these platforms. Nft 8-4 With 2 Inch, Round Hole Covers W Optional Rack
You can exchange your fiat currency using a the credit card, or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option of converting them into ETH which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all types of crypto, wallets are still more compatible with it than others. Because it is based on an ETH blockchain, any wallets which are part of this network are appropriate 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 seen on OpenSea’s FAQ page. Each has its own limitations including simple registration, use on mobile devices only and the ability to purchase cryptocurrency using a credit card. Nft 8-4 With 2 Inch, Round Hole Covers W Optional Rack
To know more about it to learn more, check out their FAQs to get the steps you can get started and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Mobile apps available for iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties 10% to artists (low royalty).
- It is not possible to buy or sell items via this mobile application.
- Only accepts cryptocurrency as a method 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. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft 8-4 With 2 Inch, Round Hole Covers W Optional Rack
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online to receive cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its no cost of gas and low commission fee rate which you are required to pay.
You can shop and browse an array of digital products on this NFT marketplace and you must go through it!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea is a reputable marketplace since it was established at the end of the year 2018. Because its system is built on blockchain technology and is secured, it is safe to declare that transactions are secure and safe.
In addition as a seller you’ll be verified when you build up your reputation. A blue checkmark will appear on your account or the collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the contents to ensure users are protected.
How can I earn royalties from OpenSea?
As an artist, you will be paid only 10 percent of the royalties after you have uploaded the NFT. This is thought to be a reasonable amount compared against other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been frequently utilized on this website and numerous others to cater for more crypto users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to use OpenSea.
Which are the accepted payment options 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 transaction.
Does OpenSea have a desktop or mobile app?
As previously mentioned There is an official mobile app from OpenSea that is available for iOS and Android. Download it at their respective app store and you can start browsing through the collection right now!
A desktop application for OpenSea which can be downloaded from WebCatalog. In the desktop application you can manage multiple accounts and receive notifications about updates to 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/).
