The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto coins. There are numerous marketplaces popping up across the web that allow users to buy and sell NFTs using cryptocurrency! OpenSea can be one and is worth checking out.
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 biggest and leading marketplaces among cryptocurrency users because of its safety and speedy transactions.
Now hop aboard, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
Before you continue, 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 our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Consultant Jobs
The aim to create OpenSea was to provide a platform/marketplace for artists to upload commissions, without having to pay any additional fees. It also has additional functions that let you sell your art without too many problems.
For registration, you don’t need to worry about giving too many details about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.
The most popular cryptocurrency used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for the majority of transactions. It also operates using the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds of blockchains available it is possible to choose which one you would like to publish your NFT as a seller. This is to ensure the security of your NFT, along with those who would like to buy it. All transactions are made using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to official art from an artist you admire. Anyone can sell however, it takes time for anyone to be a reputable one.
There is a wide variety of NFTs available on OpenSea and you can also be a part of the collection! You can start your own personal market on this site, as well as find NFTs that you would like to purchase yourself.
What is an NFT?
In a recent development for the crypto industry the term “NFT” has been going around for so long on internet that the majority of young people are familiar with it , but aren’t exactly sure what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the latest ways that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible currency that is individual and cannot be replaced. It could be a piece of rarity like rare baseball trading cards in mint condition or a uncommon vinyl record.
There is no limit to what an NFT can be as it’s a non-fungible object you’re selling on the internet. It is simpler to just imagine as an NFT as a digital item that is paid for using cryptocurrency only.
Minting is like calling the shots for your personal NFTs. You are calling the ownership of the particular item you uploaded on market, as you’re putting it up for sale. Usually, this is recognized after you fill in all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mine your NFTs by visiting the store and simply create a collection! Fill out the proper and complete information about your NFT and then select what type of settings you’d like to use for it (e.g. blockchain, money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.
It is possible to wait and see the way transactions are handled from now to see if OpenSea is the best marketplace for you.
What NFTs are available here?
In this moment you’re probably thinking about what kind of NFTs you shop for here, and what you could sell should you decide to go down that path. 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 trade cards, digital goods game assets, domain names, and even physical assets! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what sets OpenSea from the other options. There are no gas costs when you use this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you start selling because you don’t need to pay on additional fees.
Very few NFT marketplaces provide this feature, which is why this is great for you to earn a high return from your NFT collection.
A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces that offer advantages by referring a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the purchase amount, letting you earn more cash by this method.
Other NFT marketplaces do not have the same feature This is a further advantage OpenSea has over the other marketplaces.
There’s an OpenSea mobile application, however it is mainly used to browse through 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. Even though you can’t buy or sell things, you can look through the options you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available at your disposal, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Consultant Jobs
You can convert your fiat currency using a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Bittrex and many more!
All of them have the option to exchange for ETH, which is the primary cryptocurrency used in OpenSea.
While OpenSea can be described as an NFT marketplace that is open to all forms of crypto, wallets are still more compatible with it than other. Since it is built mainly on the ETH blockchain, wallets which are part of that network will be suitable for the site.
Here’s a list of different crypto wallets which you can use with OpenSea:
- Authereum and much more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage, and the function to purchase cryptocurrency using the credit card. Nft Consultant Jobs
To know more about it You can go through their FAQs for a rundown of how you can start and what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
- Mobile apps are available that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto market and NFTs.
- Allows royalties of only 10% to artists (low royalties).
- Cannot buy or sell on this mobile application.
- Only supports cryptocurrency as its method of payment.
- A Crypto wallet is required to access this marketplace.
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, 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 sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Consultant Jobs
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance to market their work online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists who use it to sell NFTs due to its low gas fees and the low commission rate that you have to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace and you must go through it!
Is OpenSea legit & secure?
Answer: Yes! OpenSea has been a reliable marketplace since it was founded in 2018. Because its system is built on blockchain technology and is secured, it is safe to claim that your transactions are protected and secured.
Furthermore as a seller you will be verified after you build up your reputation. A blue checkmark is placed to your account or collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10% of the royalties once you upload the NFT. This is considered to be reasonably low compared to others NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) has been commonly used on this site as well as other sites to provide many more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
These are the primary cryptocurrencies you can use to access OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As previously mentioned there’s an official mobile application from OpenSea that is available for iOS and Android. You can download it through their app store, and then you can begin exploring the collection now!
There is also a desktop application for OpenSea which can be downloaded from WebCatalog. In the desktop application you can manage multiple accounts and receive alerts on any updates that affect 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/).