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Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto-coins. Marketplaces are popping up across the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth a look.

If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for cryptocurrency users because of its security and rapid transactions.

Now hop aboard, and let’s explore what you can do with OpenSea and also see what NFTs you can view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Chelation Calcium

The goal for OpenSea was to offer a platform/marketplace for artists to easily upload their commissions with no additional costs. It has more functions that allow you to sell your work without having to deal with many issues.

For the registration process, you don’t have to worry about giving any personal information about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used for most processes. It also operates with the Polygon blockchain, which allows for lower costs and faster trading.

With these two kinds of blockchains that are available, you can choose which one you’d like to publish your NFT as seller. This is to ensure the security of your NFT and those who wish to purchase it. All transactions will be made along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange 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 time for anyone to become a reputable one.

There is a wide variety of NFTs available on OpenSea and you can join in with that! You can start your own personal 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 industry the term “NFT” has been going around for so long on internet that many millennials have heard of it but aren’t sure exactly what it is. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the latest ways you can purchase your cryptocurrency is an NFT. A NFT is a token that is non-fungible that is exclusive and cannot be changed. It could be an item of any rarity like rare baseball trading cards in mint condition or a rare vinyl record.

There’s no limit to what an NFT can be as it’s a non-fungible thing that you sell on the internet. In simpler terms, you could simply consider an NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs on your own NFTs. You are calling the owner of the item or token that you have uploaded to market, as putting it up for sale. Typically, this is official when you have filled in the correct information about the NFT and submit it for sale on.

On OpenSea It’s a very simple procedure to create your own NFTs by going to the store and then create a collection! Input the appropriate and accurate information about your NFT and then select what type of settings you’d like to use for it (e.g. blockchain, payments tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.

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

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What NFTs can you get here?

At this point, you’re probably wondering the kind of NFTs be found here, and what you could sell should you decide to pursue that route. The type of NFT it can be is indefinite since there’s a broad range of how you can approach it.

You can be selling digital products, trading cards games, domain names, and some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what separates OpenSea from other companies. There are zero gas fees for using this feature when you create and market NFTs. This simply means that you’ll get the most profit when you sell because you won’t have to spend on any additional charges.

Not many NFT marketplaces offer this feature, and it can be a fantastic way to make a huge profit from your portfolio.

Referral Program

This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets there are benefits by referring your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, which means you can make more money by this method.

Other NFT marketplaces do not have the same feature and that’s another advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. You can’t buy or sell items as you scroll through the list.

The mobile apps from OpenSea are accessible for the two platforms of iOS and Android. While you’re not able to buy or sell things, you can browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available to you, and you can convert your fiat money into cryptocurrency through these platforms. Nft Chelation Calcium

You can convert your fiat money via 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 standard cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nevertheless more compatible than others. Since it is built on an ETH blockchain, any wallets with a connection to this network are appropriate for this website.

Here’s a list various crypto wallets that which you can use with OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency with credit cards. Nft Chelation Calcium

For more information about the service, you can check their FAQs to see a rundown of how you can begin and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Available as mobile apps for iOS as well as Android.
  • Smart contracts are used for transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalties).
  • You cannot buy or sell products through the mobile app.
  • Only supports cryptocurrency as its type of payment.
  • An Crypto account is needed to use this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can quickly recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions Nft Chelation Calcium

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 excellent option for artists who want to use for selling NFTs due to its no gas fees and low commission fees which you are required to pay.

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

Is OpenSea legitimate and safe?

Answer: Yes! OpenSea is a reputable marketplace since its inception in the year of 2018. Since the system it operates on is built on a blockchain, it is safe to declare that transactions are secure and safe.

Additionally, as a seller, you will be verified after you have built up your credibility. A blue checkmark will appear to your account or the collection you uploaded to reassure any customer. The team at OpenSea regularly checks the contents to ensure users are safe.

How can I earn royalties from OpenSea?

As an artist, you’ll receive only up to 10 percent of the royalties when you upload the NFT. This is thought to be reasonably low compared against others NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been commonly used on this site and many others to accommodate more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can utilize for OpenSea.

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

OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal for the transaction.

Does OpenSea has a mobile or desktop application?

As we mentioned earlier there’s an official mobile application from OpenSea for both iOS or Android. You can download it through their app store and then you can begin exploring the collection now!

The desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application you can manage multiple accounts and receive notifications about updates to your account while you’re on 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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