Nft Connection

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The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto-coins. Markets have popped up across the internet, designed to sell and buy NFTs using cryptocurrency! OpenSea is among them and is worth a look.

If you’re familiar with cryptocurrency, you’ve likely 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.

So, hop on board and let’s explore the possibilities of OpenSea as well as examining what NFTs you can view!

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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 Connection

The goal for OpenSea was to provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional costs. There are additional features that let you sell your work without having to deal with many problems.

When it comes to the registration process, you don’t have to provide any personal information about yourself. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that, without many hassles when you enter 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 this is used for the majority of transactions. It also functions on the Polygon blockchain, which allows for the lowest cost and speediest trading.

With these two kinds of blockchains that are available you can pick which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT and the people who want to purchase it. Every transaction will be conducted along with this blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can trade in your cryptocurrency or NFTs for other NFTs. You can purchase anything from the simplest domain name to an official artwork by an artist you admire. Anyone can become a seller however, it takes time before anyone can become an established seller.

There are a variety of NFTs of NFTs available on OpenSea and you could become a part of that! You can start your own personal market on this site, as well as find NFTs you’d like to buy for yourself.

Nft Connection

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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 for so long on internet that the majority of young people have heard of it but aren’t sure exactly what it is. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.

One of the newest things that you can buy with cryptocurrency includes an NFT. The NFT is a non-fungible token that is unique and can’t be substituted. This can be a piece of rareness, such as mint-condition baseball trading cards or a unique vinyl album.

There’s no limit on what an NFT can be as it’s a non-fungible thing that you can sell online. In simpler terms, you could just think of the NFT to be a type of digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling dibs to your NFTs. You’re claiming the ownership of the particular item that you have uploaded to the market place, but you’re putting it up for sale. Usually, this becomes official once you fill out all the necessary information about the NFT and submit it for sale on.

On OpenSea it’s a straightforward process to mint your NFTs. All you have to do is visit the store and then making a collection to begin! Input the appropriate and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain or payments tokens). After that you are able to upload it to the internet if it’s in the limit of 100MB.

You can watch and see how the transactions go from now on to determine whether OpenSea is the best marketplace for you.

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What NFTs are available here?

At this point you’re probably asking yourself which kind of NFT 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 can be isn’t limited as there’s a variety of options for how to approach it.

You can be selling digital items, trading cards game assets, domain names, and also physical goods! Explore what you believe can reap the best rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that sets OpenSea from the others. There are zero gas fees when you use this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on any additional charges.

There aren’t many NFT marketplaces offer this feature, which is why this is great for you to receive high profit from your collection.

Referral Program

This Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive rewards when you refer your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there, you’ll receive 2.50 percent of the purchase amount, which allows you to earn more money from this act.

Other NFT marketplaces don’t have this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listings.

The mobile apps from OpenSea are accessible on the two platforms of 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 available to you You can also convert your fiat money into cryptocurrency through these platforms. Nft Connection

You can convert your fiat money via the credit card, or Paypal on these reliable websites to exchange it for crypto:

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

Each of them has the option of exchange for ETH, which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based using an ETH blockchain, all wallets that share that network will be suitable for this website.

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

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

Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage, and the function to purchase cryptocurrency using a credit card. Nft Connection

For more information about the service to learn more, check out their FAQs for an overview of how you can get started and which other wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

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

Cons

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

Pricing

OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft Connection

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to offer artists a way to market their work online to receive cryptocurrency as a method of payment. It’s a great platform for artists using for selling NFTs due to its low gas costs 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 go through it!

Is OpenSea real and is it safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year 2018. Because its system is based on a blockchain, it is safe to say that your transactions are protected and secured.

In addition as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned to your account or collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the content to ensure users are secure.

How do I earn royalties on OpenSea?

As an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is believed to be quite low in comparison with the other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) has been frequently used on this site and numerous others to cater for more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can utilize to use OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency through secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal for the transaction.

Does OpenSea have a desktop or mobile application?

As mentioned before, there is definitely an official mobile application from OpenSea available for both iOS or Android. You can download it through their app store, and begin exploring the collection now!

There is also a desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application, you can manage multiple accounts as well as receive 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/).

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