The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. Markets have popped up all over the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one and is worth checking out.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It has become one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea as well as examining 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 review. Afterward, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Aquaponic System Pvc Pipe Spacing
The purpose of OpenSea was to simply provide 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.
For registration, you don’t need to give too many details about yourself. All you have to do is connect your crypto 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 popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized for most processes. It also operates with the Polygon blockchain to ensure the lowest cost and speediest trading.
There are two types of blockchains that are available, you can choose which one you would like to publish your NFT as a seller. This ensures the safety of your NFT as well as those who wish to purchase it. All transactions will be made along with this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs for other NFTs. You can purchase anything from the simplest domain name, to a piece of art from an artist you admire. Anyone can be a seller however it takes time before anyone can become an established one.
There is a wide variety of NFTs available of NFTs available at OpenSea and you could join in with the collection! You can start your own market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials have heard of it but not exactly sure what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the new things that you can buy with cryptocurrency includes an NFT. A NFT is a token that is non-fungible that is very unique and can’t be substituted. It could be a piece of rarity like rare baseball trading cards in mint condition or a unique vinyl album.
There’s no limit on what an NFT can be as it’s a non-fungible object you’re selling on the internet. More straightforwardly, you can simply think of the NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs on your own NFTs. It is a way of claiming the owner of the item or token you uploaded on the market place, but selling it. Typically, this is official once you fill out the correct information about the NFT and upload it to the marketplace.
On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and creating a collection to start! Input the appropriate and accurate information about your NFT and then select what type of settings you’d like for it (e.g., blockchain, payments tokens). After you’ve completed the process then you’re able to upload it, if it’s within the limit of 100MB.
It is possible to wait and see how the transactions go from here on out to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment, you’re probably wondering what kind of NFTs can you shop for here and what kind of NFTs you can also sell if you decide to go down that path. The kind of NFT it can be isn’t limited as there’s a variety of ways to approach it.
You could be selling digital items, trading cards game assets domain names, some physical items! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that sets OpenSea from other companies. There are zero gas fees when you utilize this feature when you make and then sell the NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you won’t have to spend on additional fees.
There aren’t many NFT marketplaces provide this feature, and it can be a fantastic way to earn a high return from your NFT collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces there are benefits when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which means you can earn more money by this method.
Other NFT marketplaces don’t have this feature and that’s another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
The mobile apps from OpenSea are accessible on the two platforms of iOS in addition to Android. While you’re not able to buy or sell anything, you can still at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal You can also convert your fiat money into cryptocurrency using these platforms. Nft Aquaponic System Pvc Pipe Spacing
You can convert your fiat currency using a the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of them have the option of exchange for ETH which is the primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all kinds of crypto, wallets are still more compatible with it than others. Since it is built using an ETH blockchain, all 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 much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage, and the function to buy cryptocurrency using a credit card. Nft Aquaponic System Pvc Pipe Spacing
To know more about it to learn more, check out their FAQs to see an overview of how you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- You cannot buy or sell products on the mobile app.
- Only supports cryptocurrency as its method of payment.
- The use of a Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. However, overall, you will easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Aquaponic System Pvc Pipe Spacing
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to market their work online and receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use for selling NFTs due to its low gas fees and low commission fees you must pay.
You can shop and browse an array of digital items on the NFT marketplace and you must go through it!
Is OpenSea legitimate and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception on the 1st of December in 2018. Since its system is built on a blockchain and is secured, it is safe to claim that your transactions are secure and safe.
Additionally as a seller you can become verified once you build up your reputation. A blue checkmark will be assigned to your account or the collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure that users are secure.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10 percent of the royalties after you upload the NFT. This is considered to be quite low in comparison to others NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) can be commonly used on this site and other sites to provide more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or trade cryptocurrency using reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea has a mobile or desktop application?
As previously mentioned There is an official mobile app by OpenSea available for both iOS as well as Android. You can download it through their app store, and begin browsing through the collection right now!
A desktop application for OpenSea can be downloaded via WebCatalog. On the desktop app you can manage multiple accounts and get alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
