Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth checking out.
If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
So, hop on board and discover what you can do with OpenSea and also see the NFTs available to view!
Before you continue, you may want to check out 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 Examples
The goal for OpenSea was to provide artists with a marketplace/platform to upload their commissions, without having to pay any additional costs. It also has additional functions that allow you to sell your art without too many problems.
When it comes to the registration process, you don’t have to worry about giving too many details about yourself. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for most processes. It also operates on the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains available, you can choose which one you want to upload your NFT on as seller. This ensures the safety of your NFT as well as those who would like to buy it. Every transaction will be conducted along with this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can exchange your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name, to a piece of art by an artist you admire. Anyone can sell, but it takes some time before anyone can become a reputable one.
There are a variety of NFTs of NFTs available at OpenSea, and you can join in with the collection! You can create your own market there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that the majority of young people have heard of it but not exactly sure what it actually 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 that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible token which is extremely exclusive and cannot be replaced. It could be an item of any rarity like authentic baseball cards or a uncommon vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible object that you can sell on the internet. In simpler terms, you could just think of an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item that you posted to market, as you’re offering it for sale. Typically, this is official when you have filled in all the necessary information about the NFT and upload it to the marketplace.
On OpenSea, it’s a simple procedure to create your own NFTs. All you have to do is visit the store and creating a collection to start! Input the appropriate and complete information about your NFT and select the type of settings you’d like for it (e.g. blockchain or money transfer tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the limit of 100MB.
It is possible to wait and see how transactions progress from now to see whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably asking yourself the kind of NFTs can you shop for here and what you can also sell if you decide to pursue that route. The kind of NFT that you can purchase is indefinite because there’s a wide range of how you can go about it.
It is possible to sell digital products, trading cards game assets domain names, some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from the others. There’s no cost for gas for using this feature to make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you don’t need to pay on extra fees.
There aren’t many NFT marketplaces provide this feature, and it is a great way to make a huge profit from your NFT collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets there are advantages when you refer someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which allows you to earn more money by this method.
Other NFT marketplaces do not have this kind of feature either and that’s another benefit OpenSea has over the other 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.
OpenSea’s mobile apps are available for the two platforms of iOS as well as Android. While you’re not able to buy or sell something, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal to convert your fiat money into cryptocurrency using these platforms. Nft Examples
You can convert your fiat currency using a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option to exchange for ETH, which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built using the ETH blockchain, all wallets with a connection to this network are appropriate for this site.
Here’s a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage and the ability to purchase cryptocurrency using a credit card. Nft Examples
To learn more about it to learn more, check out their FAQs to get a rundown of how you can start and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps are available for iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalties).
- You cannot buy or sell products through the mobile app.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Examples
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online and receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use for selling NFTs due to its no gas costs and low commission fees which you are required to pay.
You can browse and shop for the vast array of digital items on the NFT marketplace which is why you should definitely check it out!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a reliable marketplace since it was established in 2018. Since the system it operates on is built on blockchain technology, it is safe to declare that transactions are safe and secure.
Additionally as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed on your account or the collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the content to ensure that users are secure.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you can receive only up to 10 percent of the royalties after you upload the NFT. This is thought to be reasonably low compared to others NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) has been commonly used on this site as well as other sites to provide more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through secure platforms that accept 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 we mentioned earlier, there is definitely an official mobile app by OpenSea that is available for iOS or Android. You can download it through their app store and then you can begin exploring the collection right now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts and 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/).
