Nft Erik Ranta

opensea-review

The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto-coins. There are numerous marketplaces popping up across the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them and is worth checking out.

If you’re familiar with cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.

Get on board, and discover what you can do with OpenSea and also see the NFTs that you can see!

open-sea-logo

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

OpenSea as an NFT Marketplace Nft Erik Ranta

The goal of OpenSea was to simply provide an online marketplace for artists to upload their commissions, without having to pay any additional costs. It has more functions that let you sell your art without too many difficulties.

In terms of registration, you won’t have to provide any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that, without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used for the majority of transactions. It is also based using the Polygon blockchain to ensure lower costs and faster trading.

With these two kinds of blockchains it is possible to choose which one you want to transfer your NFT to as a seller. This ensures the safety of your NFT, along with those who would like to buy it. All transactions will be made using this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can exchange your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to official art by an artist you admire. Anyone can sell however, it takes some time before anyone can become an established one.

There is a wide variety of NFTs available of NFTs available at OpenSea and you can join in with this! You can create your own marketplace here, along with finding NFTs you want to purchase for yourself.

Nft Erik Ranta

> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the cryptocurrency industry the term “NFT” has been going around for so long on internet that the majority of young people have heard of it but aren’t sure exactly what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.

One of the newest things you can buy can be an NFT. An NFT is a token that is non-fungible that is very exclusive and cannot be changed. This can be an item of rareness 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 object you’re selling online. It is simpler to just imagine an NFT to be a type of digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots on your own NFTs. You’re claiming the ownership of the particular item you uploaded on the marketplace, and selling it. Typically, this is official once you fill out the correct information about the NFT and finally upload it to the marketplace.

On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and simply create a collection! Complete the correct and accurate information about your NFT and choose what kind of settings you want to use it with (e.g. blockchain, money transfer tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.

You can wait and observe how the transactions go from now on to determine if OpenSea is the right marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs are available here?

So, at this point you’re probably thinking about which kind of NFT can you shop for here, and what you could also sell if you choose to pursue that route. The kind of NFT it can be is indefinite since there’s a broad range of ways to do it.

You could be selling trade cards, digital goods game assets domain names, even physical assets! Find out what you think will reap the best rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that differentiates OpenSea from the others. There are zero gas fees for using this feature to create and market NFTs. This simply means that you’ll get the most profit when you start selling because you don’t need to pay on any additional charges.

There aren’t many NFT marketplaces provide this feature, so this is great for you to make a huge profit from your NFT collection.

Referral Program

A Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets there are rewards when you refer someone else to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site, you’ll receive 2.50% of the sale amount, which means you can make more money by this method.

Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea has over them.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

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

The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. While you’re not able to buy or sell anything, you can still browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are at your disposal, and you can trade your fiat currency for cryptocurrency on these platforms. Nft Erik Ranta

You can swap your fiat currency using a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and more!

Each of them has the option of converting them into ETH, which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea can be described as an NFT marketplace that is open to all types of crypto, wallets are nonetheless more compatible than others. Since it is built mainly on the ETH blockchain, all wallets with a connection to the same network are suitable for the site.

Here’s a list of different crypto wallets you can utilize in 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 wallet has its own restrictions including simple registration, only mobile usage as well as the capability to purchase cryptocurrency using a credit card. Nft Erik Ranta

To know more about it, you can check their FAQs to see a rundown of how you can get started and what other crypto wallets work with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

As with many other crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and cons here:

Pros

  • Mobile apps available that are compatible with iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalties of only up to 10% for artists (low royalties).
  • You cannot buy or sell products via this mobile application.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto wallet is required to access this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will quickly recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions Nft Erik Ranta

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as a form of payment. It’s an excellent option for artists who want to use it to sell NFTs due to its low cost of gas and low commission fees that you have to pay.

You can shop and browse the vast array of digital goods in this NFT marketplace which is why you should definitely go through it!

Is OpenSea real and is it safe?

Answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year 2018. Because its system is built on blockchain technology that is secure, you can say that your transactions are protected and secured.

Furthermore, as a seller, you’ll be verified when you build up your reputation. A blue checkmark is placed to your account or the collection you uploaded to reassure any customer. The team at OpenSea regularly checks the contents to ensure users are secure.

How can I earn royalties on OpenSea?

As an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be quite low in comparison against other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been commonly used on this site and many others to accommodate more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can use to use OpenSea.

What are the payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea have a desktop/mobile app?

As we mentioned earlier, there is definitely an official mobile application from OpenSea available for both iOS as well as Android. You can download it through their app store, and begin browsing through the collection right now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app, you can manage multiple accounts as well as receive alerts on any updates that affect 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/).

block-chain

> > Click Here to Explore OpenSea < <

error: Content is protected !!