The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto-coins. There are numerous marketplaces popping up across the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea can be one and is worth looking into.
If you’re interested in crypto you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
So, hop on board and discover what you can do with OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Fertile Pot
The purpose of OpenSea was to offer artists with a marketplace/platform to upload their commissions, without having to pay any additional costs. It also has additional functions which allow you to market 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 have to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used to carry out the majority of processes. It is also based on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds of blockchains available you can pick which one you would like to transfer your NFT to as an seller. This will ensure the security of your NFT as well as those who wish to purchase 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 like an endless online marketplace that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name to official art from an artist you admire. Anyone can become a seller however it takes some time for anyone to become an established one.
There is a wide variety from the selection of NFTs available at OpenSea and you can become a part of the collection! You can set up your own personal market 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?
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 are familiar with it but aren’t sure exactly what it is. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible token which is extremely individual and cannot be changed. It could be an item of rarity like mint-condition baseball trading cards, or a rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. It is simpler to simply consider the NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. It is a way of claiming the ownership of the particular item you uploaded on the market place, but you’re offering it for sale. Typically, this is official once you fill out the proper information regarding the NFT and upload it to the marketplace.
On OpenSea it’s a straightforward process to mine your NFTs by visiting the store and simply creating a collection to start! Fill out the proper and correct information regarding your NFT and select the type of settings you want to use it with (e.g. blockchain, money transfer tokens). After that you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see the way transactions are handled from now to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably asking yourself which kind of NFT can be purchased here, and what you could also sell if you choose to go that route. The kind of NFT it can be is indefinite because there’s a wide range of how you can approach it.
You can be selling trade cards, digital goods, game assets domain names, also physical goods! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that separates OpenSea from the other options. There’s no cost for gas when you use this feature to mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you start selling because you won’t have to spend on extra fees.
Not many NFT marketplaces offer this feature, which is why this is a great way to make a huge profit from your portfolio.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
The mobile apps from OpenSea are accessible for the two platforms of iOS in addition to Android. Even though you can’t buy or sell things, you can browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available to you to exchange your fiat money for cryptocurrency using these platforms. Nft Fertile Pot
You can exchange your fiat money via the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
Each of them has the option to exchange for ETH which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all kinds of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built mainly on an ETH blockchain, all wallets which are part of that network will be suitable for this site.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, use on mobile devices only, and the function to purchase cryptocurrency using credit cards. Nft Fertile Pot
To learn more about it, you can check their FAQs to get an overview of how you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- Cannot buy or sell through our mobile apps.
- Only accepts cryptocurrency as a form 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. When you are a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can easily recover that amount when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Fertile Pot
What is OpenSea?
OpenSea is an NFT marketplace that is designed to give artists a chance to market their work online, and to accept cryptocurrency as a method of payment. It’s a great option for artists who want to use it to sell NFTs due to its low gas costs and low commission fee rate that you have to pay.
You can browse and purchase an array of digital goods in this NFT marketplace, so you should take a look!
Is OpenSea real and secure?
The short answer is yes! OpenSea is a reputable marketplace since its inception in the year 2018. Since its system is built on blockchain technology, it is safe to claim that your transactions are secure and safe.
Additionally, as a seller, you will be verified after you have built up your credibility. A blue checkmark is placed on your account or any collection that you have uploaded to assure any customer. OpenSea’s team regularly reviews the content to ensure users are safe.
How can I earn royalties on 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 a reasonable amount compared against the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is commonly used on this site and many others to accommodate many more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop application?
As we mentioned earlier There is an official mobile application from OpenSea for both iOS and Android. You can download it through their app store, and you can start browsing through the collection right now!
The desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app you are able to 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/).
