The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up across the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them, and it’s worth checking out.
If you’re interested in crypto you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its safety and speedy transactions.
Now hop aboard, and let’s see the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Artist
The goal to create OpenSea was to provide an online marketplace for artists to upload their commissions, without having to pay any additional fees. It has more functions that allow you to sell your work without having to deal with many issues.
In terms of registration, you won’t have to provide any personal information about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that without going through much hassle as you step into NFTs.
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It also operates with the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains available it is possible to choose which one you’d like to transfer your NFT to as an seller. This ensures the safety of your NFT as well as those who wish to buy it. All transactions are made using this blockchain, and you must think about where you should 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 purchase anything from just a domain name to an official artwork from an artist that you admire. Anyone can be a seller however it takes a while for anyone to become a reputable one.
There are a variety of NFTs in the collection on OpenSea and you could join in with the collection! You can set up your own market here, along with finding NFTs you’d like to buy for yourself.
What is an NFT?
In a recent advancement for the crypto market, the term “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but aren’t exactly sure what it actually means. Let’s look at what an NFT is for any beginners in cryptocurrency.
One of the latest ways you can buy includes an NFT. A NFT is a token that is non-fungible that is very exclusive and cannot be substituted. This can be an item of rareness like mint-condition baseball trading cards or a unique vinyl album.
There is no limit to what an NFT can be since it’s a non-fungible thing that you can sell online. In simpler terms, you could just imagine an NFT as a digital item that is paid for using cryptocurrency only.
Minting is similar to calling for dibs for your personal NFTs. You’re claiming the owner of the item or token that you posted to the market place, but selling it. Typically, this is official when you have filled in the proper information regarding the NFT and then submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and creating a collection to start! Fill out the proper and complete information about your NFT and select the type of settings you’d like to use to use it with (e.g. blockchain, money transfer tokens). Once that’s all done, you can finally upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how the transactions go from now to see whether OpenSea is the right marketplace for you.
What NFTs can you find here?
In this moment you’re probably thinking about which kind of NFT be purchased here, and what you could sell should you decide to go that route. The kind of NFT that you can purchase isn’t limited since there’s a broad range of options for how to approach it.
It is possible to sell trade cards, digital goods game assets domain names, even physical assets! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager function is the one that separates OpenSea from other companies. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This means you’ll get the most profit when you sell because you don’t need to pay on any additional charges.
Not many NFT marketplaces offer this feature, which is why this is great for you to receive high profit from your collection.
A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces there are benefits when you refer a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which means you can earn more cash from this act.
Other NFT marketplaces do not have the same feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile app, but it’s mostly to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
OpenSea’s mobile apps are available on both iOS as well as Android. Although you aren’t able to purchase or sell something, you can browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are to you You can also convert your fiat money into cryptocurrency through these platforms. Nft Artist
You can swap the fiat currency you have with a credit card or Paypal on these reliable websites to exchange it for crypto:
- Bittrex and other things!
Each of them has the option of converting them into ETH that is the primary cryptocurrency used in OpenSea.
While OpenSea has been described as being an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than other. Since it is built on the ETH blockchain, all wallets with a connection to the same network are suitable for this website.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage and the ability to purchase cryptocurrency with a credit card. Nft Artist
For more information about the service You can go through their FAQs to get an overview of how you can begin and which other wallets work with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
- 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.
- Allows royalty rates of 10% for artists (low royalty).
- It is not possible to buy or sell items on our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- The use of a Crypto wallet is required to use this marketplace.
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Artist
What is OpenSea?
OpenSea can be described as 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 who use the platform to market NFTs due to its no gas costs and low commission fees you must pay.
You can browse and purchase a vast collection of digital items on the NFT marketplace and you must go through it!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded in the year 2018. Because its system is built on blockchain technology that is secure, you can claim that your transactions are secure and safe.
In addition as a seller you can become verified once you’ve earned a reputation. A blue checkmark will appear to your account or any collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is thought to be a reasonable amount compared against the other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) is commonly used on this site and other sites to provide the increasing number of cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
These are the cryptocurrencies that you can make use of to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or trade cryptocurrency using reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier There is an official mobile application from OpenSea available for both iOS or Android. Install it from their app store, and you can start exploring the collection now!
The version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).