Nft Dragon

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The cryptocurrency market is on the rise, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea and also see the NFTs that you can see!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Dragon

The goal to create OpenSea was to provide a platform/marketplace for artists to upload their commissions with no additional fees. There are additional features which allow you to market your art without too many difficulties.

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 much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used for the majority of transactions. It also functions on the Polygon blockchain to ensure lower costs and faster trading.

There are two types of blockchains that are available you can pick which one you would like to publish your NFT as a seller. This ensures the safety of your NFT as well as those who would like to buy it. All transactions will be made by using the blockchain, so you should think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall where you can exchange your cryptocurrency or NFTs for other NFTs. You can purchase anything from as simple as a domain name to official art from an artist that you admire. Anyone can become a seller however, it takes a while for anyone to be an established one.

There’s a huge selection of NFTs available of NFTs available at OpenSea, and you can become a part of this! You can start your own market there, and also find NFTs you’d like to buy yourself.

Nft Dragon

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What is an NFT?

A recent change in the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t exactly sure what it actually means. Let’s take a look at what NFT is for any beginners in cryptocurrency.

One of the latest ways that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible token which is extremely unique and can’t be changed. It could be an item of rarity like rare baseball trading cards in mint condition or a rare vinyl record.

There’s no limit on what an NFT can be as it’s a non-fungible thing that you sell on the internet. More straightforwardly, you can just think of as an NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling dibs to your NFTs. You’re claiming the ownership of the particular item you uploaded on the market place, but you’re offering it for sale. Usually, this becomes official after you fill in the correct information about the NFT and then upload it to the marketplace.

On OpenSea It’s a very simple process to mint your NFTs by going to the store and then making a collection to begin! Complete the correct and complete information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain and money transfer tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.

You can watch and see the way transactions are handled from now on to determine whether OpenSea is the marketplace for you.

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What NFTs are available here?

In this moment you’re probably thinking about which kind of NFT be purchased here and what you can also sell if you choose to go that route. The kind of NFT it isn’t limited since there’s a broad range of options for how to approach it.

You can be selling digital items, trading cards game assets domain names, even physical assets! Explore what you believe can yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that separates OpenSea from other companies. There are no gas costs for using this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you won’t have 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 collection.

Referral Program

This Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets there are benefits by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which means you can make more money through this action.

Other NFT marketplaces don’t offer this kind of feature either and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile application, however it’s mostly used to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listings.

The mobile apps of OpenSea are available for the two platforms of iOS and Android. Although you aren’t able to purchase or sell anything, you can still at least explore the products you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available for you to use to exchange your fiat money for cryptocurrency using these platforms. Nft Dragon

You can swap the fiat currency you have with a credit card or Paypal via these reputable 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

Although OpenSea is an NFT marketplace open to all kinds of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based using the ETH blockchain, any wallets with a connection to that network will be suitable for this site.

Here’s a list several crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and more!

*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage, and the function to buy cryptocurrency using credit cards. Nft Dragon

For more information about the service, you can check their FAQs to get a rundown of how you can start and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has its 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 as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalty rates).
  • It is not possible to buy or sell items via the mobile app.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto digital wallet must be used for this marketplace.

Pricing

OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly recover this amount if you sell regularly since there’s no extra charge for it.

Frequently Asked Questions Nft Dragon

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to market their work online, and to accept cryptocurrency as their form of payment. It’s an excellent platform for artists using for selling NFTs because of its zero cost of gas and the low commission rate that you have to pay.

You can browse and purchase an array of digital products on this NFT marketplace and you must check it out!

Is OpenSea real and is it safe?

Short answer: Yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year of 2018. Since its system is built on blockchain technology that is secure, you can claim that your transactions are protected and secured.

Additionally, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark is placed next to your account or any collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure that users are secure.

How do I earn royalties on OpenSea?

However, as an artist, you can get only 10% of the royalties once you upload the NFT. This is believed to be quite low in comparison against the other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) is frequently used on this site as well as many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies 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. You can buy and trade cryptocurrency using reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea have a desktop or mobile app?

As mentioned before, there is definitely an official mobile application from OpenSea available for both iOS or Android. Download it at their respective app store, and then you can begin browsing through the collection right now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications on updates regarding 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/).

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