The cryptocurrency market is on the rise and you’re probably thinking where you can invest your crypto coins. Markets have popped up across the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.
If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea prior to this for a valid reason. It’s one of the largest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Art Finance Enter
The purpose of OpenSea was to offer an online marketplace for artists to upload commissions with no additional fees. It has more functions which allow you to market your work without having to deal with many problems.
When it comes to registration, you won’t have to worry about giving all of your personal details. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for most processes. It is also based with the Polygon blockchain to ensure low-cost and quicker trading.
There are two types of blockchains that are available you can pick which one you would like to transfer your NFT to as seller. This will ensure the security of your NFT and those who would like to purchase it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can be a seller however it takes some time for anyone to become an established one.
There is a wide variety from the selection on OpenSea and you can join in with that! You can set up 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 market”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that the majority of young people are familiar with it but not exactly sure what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency includes an NFT. A NFT is a non-fungible token that is individual and cannot be replaced. This can be an item of rareness, such as mint-condition baseball trading cards or a unique vinyl album.
There’s no limit to what an NFT can be as it’s a non-fungible item you’re selling on the internet. It is simpler to just imagine as an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You are calling the owner of the item or token that you posted to the market place, but you’re putting it up for sale. Typically, this is official when you have filled in the correct information about the NFT and then submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and simply creating a collection to start! Fill out the proper and complete information about your NFT and choose what kind of settings you’d like to use to use it with (e.g. blockchain, payments tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the limit of 100MB.
You can watch and see how transactions progress from now to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment, you’re probably wondering the kind of NFTs can be found here and what you can also sell if you decide to go that route. The type of NFT that you can purchase is unlimited because there’s a wide range of options for how to do it.
You could be selling trade cards, digital goods, game assets, domain names, and also physical goods! Find out what you think will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that differentiates OpenSea from other companies. There are zero gas fees when you use this feature to make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you don’t need to pay on any additional charges.
There aren’t many NFT marketplaces have this feature, and it is a great way to make a huge profit from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are benefits when you refer your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there, you’ll receive 2.50% of the sale amount, letting you earn more money through this action.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
The mobile apps of OpenSea are available on both iOS and Android. Even though you can’t buy or sell things, 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 available for you to use You can also convert your fiat money into cryptocurrency through these platforms. Nft Art Finance Enter
You can exchange the fiat currency you have with a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option to exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all kinds of crypto, wallets are nevertheless more compatible than other. Since it is built mainly around the ETH blockchain, all wallets with a connection to this network are appropriate for the site.
Here is a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations including simple registration, mobile-only usage as well as the capability to buy cryptocurrency using credit cards. Nft Art Finance Enter
To learn more about it to learn more, check out their FAQs to see a rundown of how 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 has advantages and disadvantages. OpenSea isn’t an exception to 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 are utilized 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% for artists (low royalty rates).
- You cannot buy or sell products on this mobile application.
- Only accepts cryptocurrency as a method of payment.
- A Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft Art Finance Enter
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to sell their works online, and to accept cryptocurrency as their form of payment. It’s an excellent platform for artists who use the platform to market NFTs because of its zero cost of gas and low commission fees that you have to pay.
You can browse and purchase an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legit & safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in 2018. Since its system is based on a blockchain, it is safe to declare that transactions are safe and secure.
Additionally, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark is placed on your account or the collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties on OpenSea?
As an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is considered to be reasonably low compared with other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as many others to accommodate the increasing number of cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop or mobile app?
As mentioned before, there is definitely an official mobile application from OpenSea for both iOS as well as Android. Install it from their app store and then you can begin browsing through the collection right now!
A version for desktops that OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and get alerts on any updates that affect 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/).
