Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto-coins. Markets have popped up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth a look.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the biggest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.
So, hop on board and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Consultants
The purpose to create OpenSea was to provide a platform/marketplace for artists to easily upload their commissions with no additional fees. It has more functions that let you sell your work without having to deal with many problems.
In terms of registration, you won’t have to provide too many details about yourself. All you need to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system, and this is used for the majority of transactions. It also operates with the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains you can pick which one you want to upload your NFT on as seller. This will ensure the security of your NFT and those who wish to buy it. Every transaction will be conducted 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 like an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything just a domain name to an official artwork from an artist that you admire. Anyone can become a seller, but it takes a while for anyone to become an established seller.
There’s a huge selection from the selection of NFTs available at OpenSea and you can join in with this! You can create your own market here, along with finding NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in 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 are familiar with it but not exactly sure what it actually means. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the latest ways you can buy is an NFT. The NFT is a non-fungible token that is very individual and cannot be changed. It can be an item of rareness, such as rare baseball trading cards in mint condition or unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell online. In simpler terms, you could simply think of an NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming the owner of the item or token that you have uploaded to the market place, but selling it. Usually, this is recognized once you fill out all the necessary information about the NFT and finally upload it to the marketplace.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and simply making a collection to begin! Fill out the proper and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain, payment tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the limit of 100MB.
You can watch and see the way transactions are handled from now to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about what kind of NFTs be purchased here and what you can also sell if you choose to pursue that route. The kind of NFT it is indefinite because there’s a wide range of ways to approach it.
You can be selling digital items, trading cards, game assets, domain names, and some physical items! Find out what you think will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the other options. There’s no cost for gas for using this feature when you create and market NFTs. This means you’ll be able to make the highest profits once you start selling because you won’t need to spend on any additional charges.
Not many NFT marketplaces provide this feature, and it is great for you to receive high profit from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards when you refer your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50% of the sale amount, letting you earn more cash from this act.
Other NFT marketplaces don’t offer the same feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
OpenSea’s mobile apps are available for both iOS as well as Android. Even though you can’t buy or sell anything, you can still explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use to trade your fiat currency for cryptocurrency through these platforms. Nft Consultants
You can swap the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option of exchange for ETH which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nevertheless more compatible than other. Because it is based around the ETH blockchain, wallets which are part of this network are appropriate for this website.
Here is a list of various crypto wallets that you can use in 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 like easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency using the credit card. Nft Consultants
For more information about the service You can go through their FAQs to see the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps are available for iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalties).
- It is not possible to buy or sell items on this mobile application.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto wallet is required to use this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can quickly recover this amount if you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Consultants
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance for selling their artwork online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists using the platform to market NFTs due to its no cost of gas and the low commission rate you must pay.
You can browse and shop for an array of digital items on the NFT marketplace, so you should go through it!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a reliable marketplace since its inception at the end of 2018. Because its system is based on a blockchain, it is safe to declare that transactions are protected and secured.
Furthermore, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed on your account or collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the content to ensure that users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you can receive only up to 10 percent of the royalties after you upload the NFT. This is considered to be reasonably low compared against other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) is commonly utilized on this website and other sites to provide many 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 access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using secure platforms that accept fiat money. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned there’s an official mobile application from OpenSea that is available for iOS or Android. Install it from their app store and you can start exploring the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts and 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/).
