Cryptocurrency is booming right now and you’re probably thinking what you can do with your crypto-coins. Markets have popped up across the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them, and it’s worth a look.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It has become one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and discover what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, 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 the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Draft Patriots
The aim to create OpenSea was to simply provide artists with a marketplace/platform to upload commissions with no additional charges. It has more functions that let you sell your art without too many problems.
For the registration process, you don’t have to worry about giving all of your personal details. All you have to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for most processes. It is also based using the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains, you can choose which one you would like to upload your NFT on as seller. This will ensure the security of your NFT and those who would like to purchase it. All transactions will be made along with this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can be a seller however it takes time for anyone to become an established seller.
There is a wide variety of NFTs available of NFTs available at OpenSea, and you can join in with that! You can set up your own personal market on this site, as well as find NFTs you’d like to buy 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 the internet that the majority of young people are familiar with it , but not exactly sure what it actually means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the newest things you can buy can be an NFT. The NFT is a non-fungible currency that is very unique and can’t be replaced. It can be an item of any rarity like mint-condition baseball trading cards or uncommon vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible thing you’re selling online. More straightforwardly, you can simply think of as an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots for your personal NFTs. You’re claiming the ownership of the particular item that you posted to market, as putting it up for sale. Usually, this becomes official when you have filled in the proper information regarding the NFT and upload it to the marketplace.
On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and making a collection to begin! Input the appropriate and correct information regarding your NFT and then select what type of settings you want to use it with (e.g., blockchain, payment tokens). After you’ve completed the process you are able to upload it, if it’s within the 100 MB limit.
You can watch and see the way transactions are handled from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point, you’re probably wondering what kind of NFTs can be found here, and what you could also sell if you choose to go down that path. The kind of NFT that you can purchase is unlimited because there’s a wide range of ways to do it.
It is possible to sell digital products, trading cards game assets domain names, also physical goods! Explore what you believe can yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that differentiates OpenSea from the other options. There are zero gas fees when you use this feature to create and market NFTs. This means you’ll receive the maximum profits when you start selling because you won’t have to spend on extra fees.
Not many NFT marketplaces have this feature, and it is great for you to receive high profit from your collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces that offer benefits by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase 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 have this kind of feature either, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
The mobile apps of OpenSea are available for both iOS and Android. While you’re not able to buy or sell anything, you can still at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal You can also exchange your fiat money for cryptocurrency using these platforms. Nft Draft Patriots
You can swap your fiat currency using a the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option to exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all kinds of cryptocurrency, the wallets still more compatible with it than other. Because it is based using the ETH blockchain, wallets which are part of the same network are suitable for this website.
Here’s a list of various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations including simple registration, use on mobile devices only and the ability to purchase cryptocurrency with the credit card. Nft Draft Patriots
To learn more about it You can go through their FAQs for an overview of how you can get started and which other 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. It is possible to read about its pros and cons here:
Pros
- Available as mobile apps for iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- It is not possible to buy or sell items through this mobile application.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll quickly recover this amount if you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Draft Patriots
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way to sell their works online to receive cryptocurrency as a form of payment. It’s a great platform for artists using for selling NFTs due to its low cost of gas and low commission fees that you have to pay.
You can shop and browse an array of digital products on this NFT marketplace and you must check it out!
Is OpenSea legitimate and safe?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in the year of 2018. Since its system is based on a blockchain and is secured, it is safe to say that your transactions are secure and safe.
Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned to your account or any collection you’ve uploaded to ensure the safety of any customer. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties on OpenSea?
However, as an artist, you will get only 10 percent of the royalties when you have uploaded the NFT. This is considered to be a reasonable amount compared against other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is commonly used on this site and numerous others to cater for many more crypto 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 use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As mentioned before There is an official mobile application from OpenSea for both iOS as well as Android. Install it from their app store, and you can start exploring the collection now!
A desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application, you can manage multiple accounts and receive notifications on updates regarding your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
