The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto currency. There are numerous marketplaces popping up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard about OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid 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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Beetlejuice
The aim for OpenSea was to provide artists with a marketplace/platform to upload their commissions with no additional fees. It has more functions that let you sell your art without too many issues.
For registration, you don’t need to worry about giving any personal information about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used for most processes. It is also based on the Polygon blockchain, which ensures lower costs and faster trading.
With these two types of blockchains that are available you can pick which one you would like to transfer your NFT to as a seller. This is to ensure the security of your NFT and those who would like to purchase it. Every transaction will be conducted using this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name to an official artwork from an artist you admire. Anyone can sell however it takes a while for anyone to become an established seller.
There is a wide variety from the selection on OpenSea, and you can join in with that! You can start your own marketplace here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that a lot of millennials have heard of it but not exactly sure what it is. Let’s break down what an NFT is for any beginners in cryptocurrency.
One of the new things that you can buy with cryptocurrency is an NFT. A NFT is a token that is non-fungible which is extremely exclusive and cannot be changed. This can be an item of any rareness, such as authentic baseball cards, or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can just consider as an NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the owner of the item or token you uploaded on market, as you’re putting it up for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea It’s a very simple process to mint your NFTs by going to the store and simply create a collection! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain and payment tokens). After that 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 here on out to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point you’re probably asking yourself which kind of NFT be found here, and what you could also sell if you choose to pursue that route. The kind of NFT that you can purchase isn’t limited because there’s a wide range of options for how to approach it.
It is possible to sell digital products, trading cards, game assets domain names, also physical goods! Consider what you believe will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the others. There are zero gas fees when you use this feature when you mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you sell because you won’t have to spend on any additional charges.
Not many NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer advantages when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can make more money by this method.
Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
The mobile apps of OpenSea are available for the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still look through the options you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are at your disposal, and you can convert your fiat money into cryptocurrency on these platforms. Nft Beetlejuice
You can exchange your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
Each of them has the option of converting them into ETH that is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all kinds of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built around the ETH blockchain, wallets which are part of this network are appropriate for the site.
Here’s a list different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Nft Beetlejuice
For more information about the service to learn more, check out their FAQs to get a rundown of how you can begin and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS as well as 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 market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- It is not possible to buy or sell items via our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- A Crypto wallet is required to use this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Nft Beetlejuice
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s an excellent platform for artists using the platform to market NFTs because of its zero cost of gas and the low commission rate you must pay.
You can browse and purchase an array of digital products on this NFT marketplace, so you should take a look!
Is OpenSea real and secure?
Short answer: 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 protected and secured.
In addition as a seller you can become verified once you build up your reputation. A blue checkmark is placed next to your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the contents to ensure users are protected.
How do I earn royalties on OpenSea?
As an artist, you will be paid only 10% of the royalties once you upload the NFT. This is considered to be a reasonable amount compared against other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be commonly used on this site and many others to accommodate the increasing number of crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can utilize to use OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before there’s an official mobile application from OpenSea available for both iOS and Android. You can download it through their app store, and you can start browsing through the collection right 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 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/).
