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Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.

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 most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.

Get on board, and let’s explore what you can do with OpenSea as well as examining the NFTs available to view!

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Before you continue, you may want to watch 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 Bibb Lettuce

The goal to create OpenSea was to simply provide a platform/marketplace for artists to upload commissions without any extra costs. It also has additional functions which allow you to market your work without having to deal with many problems.

For registration, you don’t need to provide any personal information about yourself. All you have to do is 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 well-known cryptocurrency 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 allows for lower costs and faster trading.

There are two types of blockchains that are available, you can choose which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT as well as those who wish to buy it. Every transaction will be conducted by using the blockchain, so you should think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can exchange your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name to official art by an artist you admire. Anyone can be a seller, but it takes time for anyone to become a reputable one.

There are a variety of NFTs of NFTs available of NFTs available at OpenSea and you can also be a part of this! You can create your own market here, along with finding NFTs that you would like to purchase yourself.

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What is an NFT?

A recent change in 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 is. Let’s look at what an NFT is for anyone who is new in cryptocurrency.

One of the new things you can buy can be an NFT. A NFT is a non-fungible token which is extremely unique and can’t be changed. It can be a piece of rarity like authentic baseball cards or unique vinyl album.

There is no limit to what an NFT can be since it’s a non-fungible thing you’re selling on the internet. It is simpler to just imagine an NFT to be a type of digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots to your NFTs. It is a way of claiming the owner of the item or token you uploaded on the marketplace, and you’re offering it for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and finally submit it for sale on.

On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and create a collection! Fill out the proper and accurate information about your NFT and select the type of settings you want for it (e.g., blockchain and payment tokens). Once that’s all done you are able to upload it, if it’s within the 100 MB limit.

It is possible to wait and see how transactions progress from now to see whether OpenSea is the right marketplace for you.

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What NFTs can you find here?

So, at this point you’re probably thinking about what kind of NFTs you shop for here and what kind of NFTs you can also sell if you choose to go that route. The kind of NFT it is indefinite because there’s a wide range of ways to do it.

It is possible to sell digital products, trading cards games domain names, even physical assets! Explore what you believe can bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that separates OpenSea from the others. There are no gas costs for using this feature to make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you sell because you don’t need to pay on additional fees.

Not many NFT marketplaces provide this feature, which is why this is a great way to earn a high return from your portfolio.

Referral Program

The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets there are benefits when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which allows you to earn more money by this method.

Other NFT marketplaces don’t offer the same feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. It isn’t able to purchase or sell anything as you scroll through the list.

OpenSea’s mobile apps are available for both iOS in addition to Android. While you’re not able to buy or sell things, you can browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available at your disposal You can also exchange your fiat money for cryptocurrency through these platforms. Nft Bibb Lettuce

You can exchange the fiat currency you have with a the credit card, or Paypal via these reputable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and many more!

All of them have the option of converting them into ETH, which is the most common crypto payment in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, the wallets nevertheless more compatible than other. Because it is based using the ETH blockchain, any 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 many more!

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency with a credit card. Nft Bibb Lettuce

To learn more about it to learn more, check out their FAQs to see an overview of how you can start and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and cons here:

Pros

  • Mobile apps are available for iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto world and NFTs.

Cons

  • Allows royalties of only 10% to artists (low royalties).
  • You cannot buy or sell products on our mobile apps.
  • Only accepts cryptocurrency as a type of payment.
  • An Crypto digital wallet must be used for this marketplace.

Pricing

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 that all buyers on the marketplace. However, overall, you will quickly regain that when you sell regularly since there is no additional fee for it.

Frequently Asked Questions Nft Bibb Lettuce

What is OpenSea?

OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s an ideal platform for artists using for selling NFTs due to its low cost of gas and the low commission rate which you are required to pay.

You can browse and shop for the vast array of digital products on this NFT marketplace which is why you should definitely check it out!

Is OpenSea real and safe?

Answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are secure and safe.

Furthermore as a seller you will be verified after you have built up your credibility. A blue checkmark is placed next to your account or the collection that you have uploaded to assure any customer. The OpenSea team reviews regularly the content to ensure that users are protected.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you’ll get only 10% of the royalties once you upload the NFT. This is considered to be reasonably low compared with others NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) has been frequently utilized on this website and other sites to provide more cryptocurrency users. Below are the other cryptocurrency you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use for OpenSea.

How do I pay for OpenSea? What are my payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal for the transaction.

Does OpenSea has a mobile or desktop application?

As previously mentioned there’s an official mobile application from OpenSea for both iOS and Android. Install it from their app store and begin exploring the collection right now!

There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts as well as receive notifications about updates to your account from the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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