The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its safety and speedy transactions.
Get on board, and let’s see what you can do with OpenSea, along with checking what NFTs you can view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Games Free To Play
The aim to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions with no additional costs. It has more functions that allow you to sell your art without too many difficulties.
When it comes to registration, you won’t have to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It is also based on the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two kinds of blockchains, you can choose which one you want to upload your NFT on as seller. This ensures the safety of your NFT as well as the people who want to purchase it. All transactions are made using this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can exchange your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist you admire. Anyone can be a seller however it takes time for anyone to become a reputable one.
There is a wide variety of NFTs available of NFTs available at OpenSea, and you can join in with that! You can create your own market here, along with finding NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that the majority of young people are familiar with it , but aren’t exactly sure what it actually means. Let’s look at what an NFT is for any beginners in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency is an NFT. A NFT is a token that is non-fungible that is unique and can’t be substituted. It can be an item of any rareness like rare baseball trading cards in mint condition, or a rare vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible object that you sell on the internet. In simpler terms, you could just consider an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You are calling the owner of the item or token that you have uploaded to the marketplace, and you’re offering it for sale. Usually, this is recognized when you have filled in the correct information about the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and simply create a collection! Input the appropriate and complete information about your NFT and choose what kind of settings you want for it (e.g. blockchain and payments tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.
It is possible to wait and see the way transactions are handled from now to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering which kind of NFT be purchased here, and what you could also sell if you choose to pursue that route. The type of NFT it isn’t limited since there’s a broad range of ways to go about it.
You could be selling digital items, trading cards game assets, domain names, and also physical goods! Consider what you believe will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that separates OpenSea from the other options. There are no gas costs when you use this feature to create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you start selling because you don’t need to pay on extra fees.
There aren’t many NFT marketplaces have this feature, so this can be a fantastic way to earn a high return from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets, you can receive rewards when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll be rewarded with 2.50% of the sale amount, which means you can earn more money by this method.
Other NFT marketplaces don’t offer this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used to browse the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. Nft Games Free To Play
You can exchange your fiat money via credit card or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option of exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than other. Because it is based around an ETH blockchain, all wallets with a connection to this network are appropriate for this website.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only and the ability to purchase cryptocurrency with a credit card. Nft Games Free To Play
To learn more about it You can go through their FAQs for the steps you can begin 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 its advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- You cannot buy or sell products through this mobile application.
- Only accepts cryptocurrency as a method of payment.
- A Crypto wallet is required to use this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can quickly regain that when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft Games Free To Play
What is OpenSea?
OpenSea is an NFT marketplace that aims to offer artists a way to sell their works online and receive cryptocurrency as their form of payment. It’s an ideal option for artists who want to use it to sell NFTs due to its low cost of gas and the low commission rate which you are required to pay.
You can browse and purchase a vast collection of digital items on the NFT marketplace, so you should check it out!
Is OpenSea legit & safe?
Short answer: Yes! OpenSea has been a reliable marketplace since its inception at the end of 2018. Because its system is built on a blockchain that is secure, you can 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 will be assigned next to your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. The team at OpenSea regularly checks the content to ensure that users are safe.
How do I earn royalties from OpenSea?
As an artist, you’ll receive only up to 10% of the royalties once you upload the NFT. This is considered to be a reasonable amount compared with others NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As mentioned before there’s an official mobile application from OpenSea that is available for iOS or Android. You can download it through their app store and you can start exploring the collection now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. On the desktop app you can manage multiple accounts and get 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/).
