Nft Garden

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The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto currency. Marketplaces are popping up across the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea is one of them and is worth a look.

If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the biggest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea and also see the NFTs available to view!

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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 Garden

The purpose of OpenSea was to provide a platform/marketplace for artists to upload commissions, without having to pay any additional costs. There are additional features that allow you to sell your artwork without any problems.

In terms of registration, you won’t have to provide any personal information 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 going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used for the majority of transactions. It also operates with the Polygon blockchain, which ensures lower costs and faster trading.

With these two types of blockchains that are available, you can choose which one you’d like to publish your NFT as a seller. This is to ensure the security of your NFT as well as those who would like to purchase it. All transactions are made along with this blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online marketplace where you can trade in your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art from an artist you admire. Anyone can become a seller, but it takes some time before anyone can become a reputable one.

There is a wide variety in the collection of NFTs available at OpenSea and you can become a part of this! You can create your own personal market on this site, as well as find NFTs that you would like to purchase for yourself.

Nft Garden

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What is an NFT?

In a recent development for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that a lot of millennials have heard of it but aren’t sure exactly what it actually means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.

One of the new things you can buy includes an NFT. A NFT is a non-fungible currency which is extremely exclusive and cannot be changed. It can be a piece of rareness like rare baseball trading cards in mint condition or rare vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible item you’re selling online. More straightforwardly, you can simply imagine as an NFT as a digital item paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots on your own NFTs. You’re claiming ownership over that particular token/item that you have uploaded to the marketplace, and you’re putting it up for sale. Usually, this becomes official once you fill out all the necessary information about the NFT and then add it on the market.

On OpenSea It’s a very simple procedure to create your own NFTs by going to the store and simply making a collection to begin! Input the appropriate and correct information regarding your NFT and select the type of settings you want to use it with (e.g. blockchain and money transfer tokens). After that then you’re able to upload it if it fits the limit of 100MB.

It is possible to wait and see how the transactions go from here on out to see whether OpenSea is the right marketplace for you.

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What NFTs are available here?

So, at this point you’re probably asking yourself which kind of NFT you shop for here and what you can also sell if you choose to pursue that route. The kind of NFT that you can purchase is indefinite because there’s a wide range of options for how to go about it.

You can be selling digital items, trading cards game assets domain names, even physical assets! Find out what you think will bring the greatest 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’s no cost for gas when you use this feature when you create and market NFTs. This means you’ll receive the maximum profits when you start selling because you won’t have to spend on any additional charges.

Very few NFT marketplaces have this feature, so this is great for you to earn a high return from your portfolio.

Referral Program

The Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets that offer 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 purchase amount, which allows you to earn more money by this method.

Other NFT marketplaces don’t offer the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. You can’t buy or sell anything as you scroll through the list.

The mobile apps from OpenSea are accessible on the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can look through the options you’re looking for on the move.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are for you to use You can also trade your fiat currency for cryptocurrency on these platforms. Nft Garden

You can convert the fiat currency you have with a credit card or Paypal through these trusted sites for cryptocurrency:

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

All of these have the option of converting them into ETH which is the most common cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace open to all kinds of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly using an ETH blockchain, any wallets that share the same network are suitable for the site.

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

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

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage and the ability to buy cryptocurrency using the credit card. Nft Garden

To know more about it, you can check their FAQs to see a rundown of how you can start and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:

Pros

  • Available as mobile apps 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 world and NFTs.

Cons

  • Allows royalty rates of 10% for artists (low royalty).
  • Cannot buy or sell on the mobile app.
  • Only accepts cryptocurrency as a type of payment.
  • A Crypto account is needed to access this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will easily recover that amount when you are actively selling since there’s no additional cost for it.

Frequently Asked Questions Nft Garden

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists who use it to sell NFTs due to its low cost of gas and low commission fee rate that you have to pay.

You can shop and browse an array of digital items on the NFT marketplace which is why you should definitely take a look!

Is OpenSea legitimate and secure?

Answer: Yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in the year 2018. Since the system it operates on is built on blockchain technology and is secured, it is safe to say that your transactions are secure and safe.

Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned to your account or collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure that users are safe.

How do I earn royalties on OpenSea?

As an artist, you’ll receive only up to 10% of the royalties once you upload the NFT. This is thought to be quite low in comparison against the other NFT marketplaces.

What cryptocurrency is offered in OpenSea?

Ethereum (ETH) is widely used on this site as well as other sites to provide more cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea have a desktop or mobile app?

As previously mentioned There is an official mobile app from OpenSea that is available for iOS and Android. You can download it through their app store, and then you can begin browsing through the collection right now!

A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you are able to 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/).

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