The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto currency. Markets have popped up across the digital web designed to buy and sell NFTs using cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the largest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.
Get on board, and let’s see what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, 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.
OpenSea as an NFT Marketplace Nft Golden Careers
The purpose of OpenSea was to provide an online marketplace for artists to upload their commissions without any extra fees. It also has additional functions that allow you to sell your art without too many problems.
In terms of registration, you won’t have to provide any personal information about yourself. All you need to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that and without many hurdles as you walk into NFTs.
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It also operates with the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains that are available, you can choose which one you want to publish your NFT as seller. This will ensure the security of your NFT and the people who want to purchase it. Every transaction will be conducted along with this blockchain, and you must 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 cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name to an official artwork by an artist you admire. Anyone can be a seller, but it takes some time for anyone to be an established one.
There are a variety of NFTs in the collection on OpenSea and you could also be a part of the collection! You can create your own marketplace on this site, as well as find NFTs you’d like to buy yourself.
What is an NFT?
In a recent development for the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for anyone who is new in cryptocurrency.
One of the newest things that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible token which is extremely unique and can’t be changed. It could be an item of rarity like authentic baseball cards, or a unique vinyl album.
There’s no limit on what an NFT can be since it’s a non-fungible thing that you can sell on the internet. In simpler terms, you could just imagine an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting is like calling dibs on your own NFTs. You are calling the owner of the item or token that you posted to market, as offering it for sale. Usually, this becomes official when you have filled in all the necessary information about the NFT and then upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and simply create a collection! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like to use to use it with (e.g. blockchain and payment tokens). Once that’s all done you are able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe the way transactions are handled from here on out to determine whether OpenSea is the right marketplace for you.
What NFTs are available here?
At this point you’re probably asking yourself what kind of NFTs can be found here and what kind of NFTs you can sell should you decide to go down that path. The type of NFT that you can purchase is indefinite as there’s a variety of how you can approach it.
You can be selling trade cards, digital goods, game assets, domain names, and even physical assets! Find out what you think will yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what differentiates OpenSea from the other options. There are no gas costs for using this feature when you mint and sell NFTs. This simply means that you’ll get the most profit when you sell because you won’t need to spend on any additional charges.
There aren’t many NFT marketplaces provide this feature, which is why this is great for you to receive high profit from your NFT collection.
The Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces that offer rewards when you refer your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the purchase amount, which means you can earn more money by this method.
Other NFT marketplaces do not have the same feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available for both iOS in addition to Android. Even though you can’t buy or sell something, you can at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use to exchange your fiat money for cryptocurrency on these platforms. Nft Golden Careers
You can exchange your fiat currency using a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:
- Bittrex and other things!
All of these have the option to exchange for ETH which is the most common crypto payment in OpenSea.
Although OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly around an ETH blockchain, wallets which are part of that network will be suitable for this site.
Here’s a list different crypto wallets you can use in OpenSea:
- Authereum and many more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage and the ability to purchase cryptocurrency with credit cards. Nft Golden Careers
For more information about the service, you can check their FAQs to see an overview of how you can get started and also what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
As with many other crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
- Allows royalties of only up to 10% for artists (low royalties).
- Cannot buy or sell through our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used for this marketplace.
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Golden Careers
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as a method of payment. It’s a great platform for artists using it to sell NFTs because of its zero gas fees and the low commission rate that you have to pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legit & secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year 2018. Because its system is built on a blockchain that is secure, you can say that your transactions are secure and safe.
Furthermore, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or the collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the contents to ensure users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you’ll be paid only 10 percent of the royalties when you have uploaded 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 widely used on this site as well as other sites to provide many more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
These are the primary cryptocurrencies you can make use of to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier There is an official mobile app by OpenSea that is available for iOS as well as Android. You can download it through their app store, and you can start browsing through the collection right now!
A desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts as well as 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/).