The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto-coins. Markets have popped up all over the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them, and it’s worth looking into.
If you’re interested in crypto, you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea and also see what NFTs you can view!
Before you continue, you may want to check out 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 End Cap
The aim of OpenSea was to offer a platform/marketplace for artists to upload their commissions without any extra fees. There are additional features which allow you to market your artwork without any problems.
For registration, you won’t have to give too many details about yourself. All you have to connect your crypto wallet and voila! You have an account with OpenSea! It’s as easy as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for most processes. It is also based with the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you want to publish your NFT as a seller. This is to ensure the security of your NFT as well as those who wish to buy it. Every transaction will be conducted along with this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from the simplest domain name, to a piece of art by an artist you admire. Anyone can become a seller however, it takes some time for anyone to become an established one.
There are a variety of NFTs from the selection at OpenSea and you can become a part of this! You can start your own marketplace on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the new things you can purchase your cryptocurrency includes an NFT. An NFT is a non-fungible currency that is individual and cannot be substituted. This can be an item of any rareness, such as rare baseball trading cards in mint condition, or a unique vinyl album.
There is no limit to what an NFT can be since it’s a non-fungible object you’re selling on the internet. More straightforwardly, you can just consider an NFT to be a type of digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item you uploaded on the marketplace, and you’re selling it. Usually, this becomes official once you fill out 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 visiting the store and simply create a collection! Input the appropriate and correct information regarding your NFT and select the type of settings you want to use it with (e.g., blockchain and payment tokens). After that you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see how the transactions go from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point, you’re probably wondering which kind of NFT be purchased here and what kind of NFTs you can sell should you decide to go down that path. The type of NFT it can be is indefinite as there’s a variety of options for how to approach it.
You can be selling trade cards, digital goods game assets, domain names, and even physical assets! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the other options. There are zero gas fees for using this feature to make and then sell the NFTs. This means you’ll be able to make the highest profits once you start selling because you don’t need to pay on any additional charges.
Very few NFT marketplaces offer this feature, which is why this can be a fantastic way to make a huge profit from your NFT collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets, you can receive benefits when you refer your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, letting you earn more cash from this act.
Other NFT marketplaces don’t offer the same feature and that’s another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. You can’t buy or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible on the two platforms of iOS and Android. Even though you can’t buy or sell something, you can explore the products you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency using these platforms. Nft End Cap
You can swap your fiat money via the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of these have the option to exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all types of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built using the ETH blockchain, wallets which are part of this network are appropriate for this website.
Here’s a list of several crypto wallets 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 including simple registration, mobile-only usage as well as the capability to purchase cryptocurrency using a credit card. Nft End Cap
For more information about the service You can go through their FAQs for an overview of how you can get started and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Available as mobile apps for iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- You cannot buy or sell products through our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- A Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly regain that when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft End Cap
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance to sell their works online to receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its low gas costs and the low commission rate you must pay.
You can browse and shop for a vast collection of digital goods in this NFT marketplace and you must go through it!
Is OpenSea legitimate and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since its inception at the end of the year of 2018. Since its system is built on blockchain technology and is secured, it is safe to say that your transactions are protected and secured.
Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned to your account or the collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
As an artist, you’ll be paid only 10 percent of the royalties after you have uploaded the NFT. This is thought to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been commonly used on this site and numerous others to cater for more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use for OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. 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’s an official mobile app by OpenSea for both iOS and Android. Download it at their respective app store and then you can begin exploring the collection now!
The 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 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/).
