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 digital web designed to purchase and sell NFTs with cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s see 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 of OpenSea.
OpenSea as an NFT Marketplace Nft Alz
The aim for OpenSea was to provide an online marketplace for artists to upload commissions, without having to pay any additional charges. There are additional features which allow you to market your artwork without any issues.
In terms of registration, you don’t need to provide any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as easy as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used to carry out the majority of processes. It is also based with the Polygon blockchain, which ensures low-cost and quicker trading.
With these two kinds of blockchains it is possible to choose which one you would like to publish your NFT as seller. This will ensure the security of your NFT, along with the people who want to purchase it. All transactions will be made using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless that lets you trade your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to an official artwork from an artist you admire. Anyone can sell however, it takes time for anyone to be a reputable one.
There’s a huge selection in the collection on OpenSea and you could become a part of the collection! You can set up your own personal market here, along with finding NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials have heard of it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for any beginners in cryptocurrency.
One of the new things you can buy can be an NFT. An NFT is a token that is non-fungible which is extremely unique and can’t be changed. This can be an item of any rarity like rare baseball trading cards in mint condition, or a unique vinyl album.
There’s no limit on what an NFT can be since it’s a non-fungible item that you can sell on the internet. More straightforwardly, you can simply consider as an NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. You are calling the ownership of the particular item that you posted to market, as offering it for sale. Usually, this is recognized once you fill out the correct information about the NFT and upload it to the marketplace.
On OpenSea, it’s a simple process to mint your NFTs by going to the store and then making a collection to begin! Complete the correct and complete information about your NFT and then select what type of settings you’d like to use it with (e.g. blockchain or money transfer tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.
You can wait and observe how transactions progress from here on out to see whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably thinking about the kind of NFTs can you shop for here, and what you could sell should you decide to go down that path. The kind of NFT it isn’t limited since there’s a broad range of options for how to go about it.
You can be selling digital items, trading cards games domain names, some physical items! Consider what you believe will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas when you use this feature when you mint and sell NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t have to spend on additional fees.
Not many NFT marketplaces offer this feature, which is why this can be a fantastic way to receive high profit from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, letting you earn more money by this method.
Other NFT marketplaces don’t have this feature, so that’s just another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse the marketplace. It isn’t able to purchase or sell items as you browse through the listing.
The mobile apps from OpenSea are accessible on both iOS in addition to Android. While you’re not able to buy or sell something, you can at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you You can also trade your fiat currency for cryptocurrency through these platforms. Nft Alz
You can swap your fiat currency using a the credit card, or Paypal via these reputable websites 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 primary cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built mainly using an ETH blockchain, all wallets that share this network are appropriate for this website.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage and the ability to purchase cryptocurrency using a credit card. Nft Alz
To learn more about it to learn more, check out their FAQs to get an overview of how you can begin and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and drawbacks. 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 for 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 world and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalties).
- It is not possible to buy or sell items via our mobile apps.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Alz
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to market their work online and receive cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no gas costs and the low commission rate you must pay.
You can shop and browse a vast collection of digital items on the NFT marketplace and you must go through it!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a reliable marketplace since it was founded in the year of 2018. Since its system is based on a blockchain that is secure, you can claim that your transactions are secure and safe.
Furthermore as a seller you can become verified once you have built up your credibility. A blue checkmark is placed to your account or collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the contents to ensure users are secure.
How do I earn royalties from OpenSea?
However, as an artist, you can receive only up to 10 percent of the royalties when you upload the NFT. This is thought to be quite low in comparison with others NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) is commonly used on this site and many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to use OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before there’s an official mobile app by OpenSea available for both iOS or Android. Download it at their respective app store and then you can begin browsing through the collection right now!
The desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to 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/).
