The cryptocurrency market is on the rise and you’re probably thinking what you can do with your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s explore the possibilities of OpenSea as well as examining what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Desktop
The goal for OpenSea was to offer an online marketplace for artists to upload commissions, without having to pay any additional costs. It has more functions which allow you to market your work without having to deal with many issues.
For registration, you don’t need to give any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as easy as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It also operates using the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains that are available it is possible to choose which one you’d like to transfer your NFT to as a seller. This is to ensure the security of your NFT, along with the people who want to purchase it. All transactions are made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name to official art from an artist that you admire. Anyone can become a seller however, it takes time for anyone to become a reputable one.
There is a wide variety from the selection on OpenSea and you can become a part of that! You can set up your own marketplace on this site, as well as find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials have heard of it but aren’t exactly sure what it 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 new things you can buy includes an NFT. A NFT is a token that is non-fungible which is extremely individual and cannot be changed. It could be an item of any rareness, such as mint-condition baseball trading cards or a rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can just imagine the NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. You are calling the owner of the item or token that you posted to the marketplace, and you’re selling it. Usually, this becomes official when you have filled in the correct information about the NFT and add it on the market.
On OpenSea It’s a very simple process to mint your NFTs by going to the store and simply creating a collection to start! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use it with (e.g., blockchain or payment tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
You can watch and see how the transactions go from here on out to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment, you’re probably wondering which kind of NFT you shop for here and what you can sell should you decide to go that route. The type of NFT it can be is unlimited as there’s a variety of options for how to do it.
You can be selling trade cards, digital goods game assets domain names, also physical goods! Find out what you think will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that differentiates OpenSea from the others. There are zero gas fees when you use this feature to make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t need to spend on extra fees.
There aren’t many NFT marketplaces provide this feature, so this is great for you to receive high profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces there are benefits when you refer someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which allows you to earn more cash through this action.
Other NFT marketplaces don’t offer this 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 scroll through the list.
OpenSea’s mobile apps are available on the two platforms of iOS and Android. While you’re not able to buy or sell things, you can browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available to you to exchange your fiat money for cryptocurrency on these platforms. Nft Desktop
You can convert the fiat currency you have with 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 more!
Each of them has the option to exchange for ETH, which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all types of crypto, wallets are nevertheless more compatible than others. Since it is built using an ETH blockchain, wallets that share this network are appropriate for this site.
Here’s a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations including simple registration, use on mobile devices only, and the function to purchase cryptocurrency using the credit card. Nft Desktop
For more information about the service, you can check their FAQs for an overview of how you can start and which other wallets are compatible with OpenSea.
> > Click Here to Explore 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 cons here:
Pros
- Mobile apps are available for iOS or 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 royalty rates of 10% for artists (low royalty).
- Cannot buy or sell on the mobile app.
- Only accepts cryptocurrency as a form of payment.
- An Crypto account is needed for this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. When you are 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 actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Desktop
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to market their work online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use the platform to market NFTs due to its low cost of gas and low commission fee rate which you are required to pay.
You can shop and browse an array of digital products on this NFT marketplace, so you should check it out!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since its inception in 2018. Since its system is built on blockchain technology, it is safe to say that your transactions are safe and secure.
Furthermore, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed to your account or the collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are safe.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is considered to be a reasonable amount compared against other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as many others to accommodate many more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile app?
As previously mentioned, there is definitely 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 now!
There is also a Desktop application that OpenSea can be downloaded via WebCatalog. In the desktop application you are able to 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/).
