Nft Fertilizer

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The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea can be one and is worth looking into.

If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.

Now hop aboard, and discover the possibilities of OpenSea and also see the NFTs that you can see!

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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 of OpenSea.

OpenSea as an NFT Marketplace Nft Fertilizer

The goal for OpenSea was to simply provide an online marketplace for artists to upload commissions with no additional costs. It also has additional functions which allow you to market your work without having to deal with many difficulties.

For the registration process, you don’t have to provide all of your personal details. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It is also based on the Polygon blockchain, which allows for the lowest cost and speediest trading.

With these two types of blockchains available it is possible to choose which one you would like to transfer your NFT to as an seller. This ensures the safety of your NFT and those who wish to purchase it. All transactions are made using this blockchain, which is why you need to think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless that lets you trade your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art by an artist you admire. Anyone can be a seller however it takes a while for anyone to be a reputable one.

There are a variety of NFTs from the selection on OpenSea and you can also be a part of the collection! You can create your own market on this site, as well as find NFTs you want to purchase for yourself.

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What is an NFT?

A recent change in the crypto market”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t sure exactly what it means. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the latest ways that you can buy with cryptocurrency can be an NFT. A NFT is a token that is non-fungible that is very exclusive and cannot be replaced. It can be a piece of rareness, such as authentic baseball cards or a unique vinyl album.

There is no limit to what an NFT can be since it’s a non-fungible item you’re selling online. It is simpler to simply think of the NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming the ownership of the particular item that you have uploaded to the market place, but putting it up for sale. Usually, this becomes official once you fill out the correct information about the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and simply creating a collection to start! Input the appropriate and complete information about your NFT and select the type of settings you want to use it with (e.g. blockchain or payment tokens). After that then you’re able to upload it if it fits the 100 MB limit.

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

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What NFTs can you get here?

In this moment, you’re probably wondering which kind of NFT be found here, and what you could also sell if you decide to pursue that route. The kind of NFT it is unlimited as there’s a variety of options for how to go about it.

It is possible to sell digital products, trading cards game assets domain names, also physical goods! Find out what you think will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager features is one of the things that separates OpenSea from the others. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This means you’ll get the most profit when you sell because you won’t need to spend on any additional charges.

Not many NFT marketplaces provide this feature, so this is a great way to earn a high return from your portfolio.

Referral Program

This Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive benefits when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the sales amount, letting you earn more money through this action.

Other NFT marketplaces don’t offer this kind of feature either and that’s another advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it is mainly used to browse the marketplace. You can’t buy or sell anything while you browse through the listings.

The mobile apps of OpenSea are available for both iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least explore the products you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are to you to exchange your fiat money for cryptocurrency on these platforms. Nft Fertilizer

You can exchange your fiat money via your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:

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

Each of them has the option of exchange for ETH which is the standard cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all forms of crypto, wallets are nevertheless more compatible than others. Because it is based on an ETH blockchain, any wallets that share this network are appropriate for this site.

Here’s a list different crypto wallets you can use in OpenSea:

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage as well as the capability to buy cryptocurrency using the credit card. Nft Fertilizer

To know more about it, you can check their FAQs to get the steps you can get started and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps are available for iOS and Android.
  • Smart contracts can be used to perform transactions.
  • Security at the highest level with the help of blockchain.
  • Ideal for those who are new to the crypto market and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalties).
  • It is not possible to buy or sell items via the mobile app.
  • Only accepts cryptocurrency as a type of payment.
  • The use of a Crypto wallet is required for this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll quickly regain that when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Nft Fertilizer

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to market their work online to receive cryptocurrency as their form of payment. It’s an excellent platform for artists using it to sell NFTs due to its no gas costs and low commission fee rate you must pay.

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

Is OpenSea legit & is it safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of 2018. Since the system it operates on is built on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.

Furthermore as a seller you’ll be verified when you have built up your credibility. A blue checkmark will appear to your account or collection you uploaded to reassure anyone who buys from you. The team at OpenSea regularly checks the content to ensure that users are secure.

How do I earn royalties from OpenSea?

As an artist, you can be paid only 10 percent of the royalties after you upload the NFT. This is thought to be a reasonable amount compared with others NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) is frequently used on this site and many others to accommodate more crypto users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use to access OpenSea.

What are the payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea has a mobile or desktop app?

As we mentioned earlier There is an official mobile app by OpenSea available for both iOS or Android. Install it from their app store, and begin exploring the collection right now!

The Desktop application that OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and get notifications about updates to 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/).

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