Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up all over the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth checking out.
If you’re interested in crypto, you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s explore what you can do with OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Corporation Flying Car
The purpose of OpenSea was to offer an online marketplace for artists to upload commissions with no additional charges. It has more functions which allow you to market your artwork without any difficulties.
In terms of the registration process, you don’t have to give any personal information about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for most processes. It also operates with the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains available you can pick which one you want to upload your NFT on as an seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions will be made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to official art from an artist you admire. Anyone can sell, but it takes a while before anyone can become an established one.
There is a wide variety from the selection on OpenSea and you could become a part of the collection! You can set up your own marketplace there, and also find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t sure exactly what it actually means. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible currency which is extremely unique and can’t be changed. This can be a piece of rareness, such as rare baseball trading cards in mint condition or a uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could simply imagine as an NFT being a virtual item paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You are calling the ownership of the particular item that you have uploaded to the marketplace, and you’re offering it for sale. Usually, this becomes official after you fill in all the necessary information about the NFT and then add it on the market.
On OpenSea, it’s a simple procedure to create your own NFTs by going to the store and simply making a collection to begin! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use for it (e.g., blockchain or money transfer 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.
It is possible to wait and see how transactions progress from now to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering the kind of NFTs can be found here, and what you could also sell if you choose to go down that path. The type of NFT that you can purchase isn’t limited as there’s a variety of how you can go about it.
You could be selling trade cards, digital goods, game assets domain names, also physical goods! Explore what you believe can reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that differentiates OpenSea from the others. There are no gas costs when you utilize this feature to make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you sell because you don’t need to pay on additional fees.
Not many NFT marketplaces have this feature, and it is a great way to receive high profit from your NFT collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces there are rewards by referring someone else to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which allows you to make more money by this method.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
The mobile apps of OpenSea are available on both iOS and Android. While you’re not able to buy or sell anything, you can still at least look through the options you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available to you to trade your fiat currency for cryptocurrency using these platforms. Nft Corporation Flying Car
You can exchange your fiat currency using a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option of exchange for ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, wallets are nonetheless more compatible than others. Because it is based on an ETH blockchain, all wallets which are part of the same network are suitable for this website.
Here is a list of various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, only mobile usage as well as the capability to buy cryptocurrency using a credit card. Nft Corporation Flying Car
To learn more about it to learn more, check out their FAQs to see a rundown of how you can start and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Mobile apps are available for iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto industry and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty).
- It is not possible to buy or sell items through the mobile app.
- Only accepts cryptocurrency as a type of payment.
- A Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. However, overall, you will quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Corporation Flying Car
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to market their work online and receive cryptocurrency as a method of payment. It’s a great platform for artists who use the platform to market NFTs due to its low cost of gas and the low commission rate that you have to pay.
You can browse and purchase the vast array of digital goods in this NFT marketplace which is why you should definitely take a look!
Is OpenSea legitimate and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year 2018. Since its system is built on blockchain technology and is secured, it is safe to say that your transactions are protected and secured.
In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed next to your account or any collection that you have uploaded to assure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are protected.
How do I earn royalties on OpenSea?
However, as an artist, you will receive only up to 10 percent of the royalties when you have uploaded the NFT. This is thought to be reasonably low compared to the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) has been frequently used on this site and numerous others to cater for many more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before, there is definitely an official mobile application from OpenSea that is available for iOS and Android. You can download it through their app store and you can start exploring the collection right now!
There is also a Desktop application that OpenSea can be downloaded via WebCatalog. In the desktop application you can 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/).
