Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up all over the web that allow users to buy and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth a look.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Get on board, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
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.
OpenSea as an NFT Marketplace Nft For Strawberries Home Gardner
The purpose for OpenSea was to offer artists with a marketplace/platform to upload their commissions, without having to pay any additional charges. It has more functions that allow you to sell your art without too many problems.
In terms of the registration process, you don’t have to give too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without much hassle as you step into NFTs.
The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It also functions using the Polygon blockchain, which ensures lower costs and faster trading.
There are two types of blockchains available you can pick which one you want to publish your NFT as an seller. This is to ensure the security of your NFT and those who wish to purchase it. Every transaction will be conducted using this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name, to a piece of art by an artist you admire. Anyone can be a seller, but it takes time for anyone to be an established seller.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you could become a part of this! You can create your own marketplace here, along with finding NFTs you’d like to buy yourself.
What is an NFT?
In a recent advancement for the crypto industry,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that many millennials have heard of it but not exactly sure 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. The NFT is a non-fungible token that is very unique and can’t be changed. This can be an item of 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 as it’s a non-fungible thing you’re selling online. It is simpler to simply consider an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting is similar to calling for dibs on your own NFTs. It is a way of claiming the ownership of the particular item that you posted to market, as offering it for sale. Typically, this is official after you fill in the correct information about the NFT and then add it on the market.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and simply making a collection to begin! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use for it (e.g., blockchain, payments tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now to determine if OpenSea is the right marketplace for you.
What NFTs are available here?
At this point you’re probably thinking about what kind of NFTs can be purchased here, and what you could also sell if you decide to go that route. The type of NFT it can be is unlimited because there’s a wide range of how you can do it.
You could be selling digital products, trading cards games domain names, some physical items! Explore what you believe can reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from other companies. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces have this feature, and it is a great way to earn a high return from your collection.
The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there, you’ll receive 2.50% of the sale amount, which allows you to earn more money by this method.
Other NFT marketplaces don’t offer this kind of feature either and that’s another benefit OpenSea has over the other marketplaces.
There is an OpenSea mobile app, but it is mainly used to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible for the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal to exchange your fiat money for cryptocurrency on these platforms. Nft For Strawberries Home Gardner
You can exchange your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:
- Bittrex and other things!
All of these have the option of exchange for ETH which is the primary crypto payment in OpenSea.
While OpenSea has been described as being an NFT marketplace open to all types of crypto, wallets are still more compatible with it than others. Because it is based around an ETH blockchain, all wallets with a connection to that network will be suitable for the site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations like easy registration, mobile-only usage, and the function to buy cryptocurrency using a credit card. Nft For Strawberries Home Gardner
For more information about the service You can go through their FAQs to get an overview of how you can begin and also what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:
- Mobile apps available for iOS or Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto world and NFTs.
- Allows royalties 10% to artists (low royalty).
- It is not possible to buy or sell items through the mobile app.
- Only accepts cryptocurrency as a type of payment.
- The use of a Crypto account is needed to access this marketplace.
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. In the end, you’ll easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft For Strawberries Home Gardner
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to sell their works online and receive cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs because of its zero cost of gas and low commission fees that you have to pay.
You can browse and purchase an array of digital items on the NFT marketplace, so you should go through it!
Is OpenSea real and secure?
Answer: Yes! OpenSea has been a trusted marketplace since its inception at the end of 2018. Since its system is based on a blockchain and is secured, it is safe to declare that transactions are protected and secured.
Furthermore as a seller you will be verified after you’ve earned a reputation. A blue checkmark is placed to your account or the collection you uploaded to reassure every customer. The team at OpenSea regularly checks the content to ensure users are safe.
How do I earn royalties from OpenSea?
As an artist, you can receive only up to 10 percent of the royalties when you upload the NFT. This is believed to be a reasonable amount compared against others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be frequently used on this site as well as other sites to provide many more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
These are the core cryptocurrencies you can make use of for OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before, there is definitely an official mobile application from OpenSea for both iOS and Android. Install it from their app store, and then you can begin exploring the collection now!
The version for desktops that OpenSea which can be downloaded from WebCatalog. In 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/).