The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto coins. Markets have popped up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and leading marketplaces among cryptocurrency users because of its security and rapid transactions.
So, hop on board and let’s explore what you can do with OpenSea as well as examining what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Ad Cc
The goal for OpenSea was to offer an online marketplace for artists 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 difficulties.
In terms of registration, you won’t have to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It also operates with the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you’d like to publish your NFT as seller. This will ensure the security of your NFT and the people who want to buy it. All transactions will be made using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist you admire. Anyone can sell, but it takes a while for anyone to be an established one.
There are a variety of NFTs in the collection of NFTs available at OpenSea and you could join in with the collection! You can set up your own marketplace on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible currency that is very exclusive and cannot be changed. This can be a piece of rareness like rare baseball trading cards in mint condition or rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible item that you can sell online. It is simpler to simply consider an NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs on your own NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and offering it for sale. Usually, this becomes official when you have filled in the proper information regarding the NFT and then 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! Fill out the proper and accurate information about your NFT and choose what kind of settings you’d like for it (e.g. blockchain or payments tokens). Once that’s all done then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how transactions progress from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably thinking about which kind of NFT you shop for here and what you can sell should you decide to go that route. The type of NFT that you can purchase is unlimited because there’s a wide range of how you can do it.
You could be selling digital products, trading cards, game assets, domain names, and also physical goods! Consider what you believe will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from the others. There are zero gas fees when you use this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you sell because you won’t have 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 NFT collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces there are rewards when you refer your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, letting you earn more cash from this act.
Other NFT marketplaces don’t offer this kind of feature either, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell items as you browse through the listings.
The mobile apps from OpenSea are accessible on both iOS as well as Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available to you, and you can convert your fiat money into cryptocurrency through these platforms. Nft Ad Cc
You can convert the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option of exchange for ETH, which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than other. Because it is based around an ETH blockchain, any wallets that share this network are appropriate for this site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency using credit cards. Nft Ad Cc
For more information about the service, you can check their FAQs to see the steps you can start and also what other crypto 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. You can view its pros and pros here:
Pros
- Mobile apps are available for iOS and Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties 10% for artists (low royalty).
- It is not possible to buy or sell items on this mobile application.
- Only accepts cryptocurrency as a type of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. However, overall, you will easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Ad Cc
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to sell their works online to receive cryptocurrency as a form of payment. It’s an excellent platform for artists who use the platform to market NFTs due to its no gas costs and low commission fee rate that you have to pay.
You can browse and shop for the vast array of digital products on this NFT marketplace which is why you should definitely go through it!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a reliable marketplace since it was founded in the year 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to claim that your transactions are secure and safe.
Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are secure.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you will be paid only 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison to other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be widely used on this site as well as many others to accommodate many more cryptocurrency 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 methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal to complete the exchange.
Does OpenSea have a desktop/mobile app?
As mentioned before, there is definitely an official mobile app by OpenSea for both iOS or Android. You can download it through their app store and begin browsing through the collection right now!
The Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app, you can manage multiple accounts as well as 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/).
