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Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto coins. Markets have popped up all over the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea is among them, and it’s worth checking out.

If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.

Get on board, and let’s see the possibilities of OpenSea and also see the NFTs that you can see!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Clerk Step Pay

The aim to create OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional charges. There are additional features that let you sell your artwork without any difficulties.

When it comes to registration, you won’t have to give all of your personal details. 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 going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used within 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 on the Polygon blockchain, which ensures lower costs and faster trading.

There are two types of blockchains you can pick which one you want to upload your NFT on as a seller. This is to ensure the security of your NFT, along with the people who want to buy it. All transactions are made along with this blockchain, which is why you need to think about where you should 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. It is possible to purchase anything the simplest domain name to official art by an artist you admire. Anyone can be a seller however it takes some time before anyone can become a reputable one.

There is a wide variety of NFTs available of NFTs available at OpenSea and you could become a part of the collection! You can start your own market on this site, as well as find NFTs that you would like to purchase for yourself.

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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 have heard of it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.

One of the newest things you can buy is an NFT. The NFT is a token that is non-fungible which is extremely individual and cannot be replaced. This can be a piece of rareness, such as mint-condition baseball trading cards or a uncommon vinyl record.

There’s no limit on what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. More straightforwardly, you can simply imagine the NFT as a digital item paid via cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. It is a way of claiming ownership over that particular token/item you uploaded on the marketplace, and you’re selling it. Usually, this is recognized once you fill out all the necessary information about the NFT and submit it for sale on.

On OpenSea, it’s a simple procedure to create your own NFTs. All you have to do is visit the store and then creating a collection to start! Complete the correct and correct information regarding your NFT and then select what type of settings you want to use it with (e.g. blockchain and payments tokens). After you’ve completed the process you are able to upload it, if it’s within the 100 MB limit.

You can wait and observe how transactions progress from now on to determine if OpenSea is the marketplace for you.

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What NFTs can you get here?

At this point you’re probably asking yourself what kind of NFTs can be purchased here and what kind of NFTs you can sell should you decide to pursue that route. The type of NFT that you can purchase is indefinite since there’s a broad range of ways to do it.

You could be selling digital items, trading cards games, domain names, and some physical items! Explore what you believe can yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that differentiates OpenSea from other companies. There are no gas costs for using this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you won’t have to spend on extra fees.

Not many NFT marketplaces have this feature, which is why this can be a fantastic way to receive high profit from your portfolio.

Referral Program

A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets that offer rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the sales amount, letting you earn more cash by this method.

Other NFT marketplaces don’t offer this kind of feature either and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you scroll through the list.

OpenSea’s mobile apps are available on both iOS and Android. Although you aren’t able to purchase or sell things, you can look through the options you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency on these platforms. Nft Clerk Step Pay

You can convert your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:

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

Each of them has the option to exchange for ETH that is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea can be described as an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than other. Because it is based on an ETH blockchain, wallets with a connection to that network will be suitable for this site.

Here’s a list different crypto wallets you can use in OpenSea:

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage, and the function to purchase cryptocurrency with a credit card. Nft Clerk Step Pay

To know more about it, you can check their FAQs to see a rundown of how you can get started and what other crypto wallets work with OpenSea.

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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 read about its pros and pros here:

Pros

  • Available as mobile apps for iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • Security at the highest level with the help of blockchain.
  • Ideal for those who are new to the crypto industry and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalties).
  • Cannot buy or sell via this mobile application.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto account is needed for this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly regain that when you actively sell because there’s no extra charge for it.

Frequently Asked Questions Nft Clerk Step Pay

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to offer artists a way to market their work online to receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its no gas costs and low commission fee rate that you have to pay.

You can shop and browse an array of digital items on the NFT marketplace, so you should go through it!

Is OpenSea legit & is it safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in 2018. Because its system is built on blockchain technology that is secure, you can claim that your transactions are secure and safe.

Furthermore as a seller you can become verified once you’ve earned a reputation. A blue checkmark will be assigned to your account or any collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.

How can I earn royalties on OpenSea?

Unfortunately, as an artist, you will receive only up to 10% of the royalties once you upload the NFT. This is considered to be a reasonable amount compared with the other NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) can be frequently utilized on this website and numerous others to cater for 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 make use of to use OpenSea.

What are the payment methods for OpenSea?

OpenSea only allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop app?

As previously mentioned There is an official mobile app from OpenSea that is available for iOS and Android. You can download it through their app store and begin exploring the collection right now!

A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application, you can manage multiple accounts as well as receive notifications about updates to 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/).

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