Cryptocurrency is booming right now and you’re probably wondering where to 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 interested in crypto you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency users because of its security and quick transactions.
So, hop on board and discover the possibilities of OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Greens
The aim of OpenSea was to provide artists with a marketplace/platform to upload commissions with no additional charges. It has more functions which allow you to market your work without having to deal with many difficulties.
When it comes to registration, you won’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 with OpenSea! It can be as simple as that without going through 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 system, and this is used to carry out the majority of processes. It also operates using the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains available it is possible to choose which one you would like to transfer your NFT to as seller. This will ensure the security of your NFT as well as those who wish to buy it. All transactions will be made by using the blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can sell however it takes time for anyone to become an established one.
There is a wide variety from the selection on OpenSea and you could become a part of the collection! You can set up your own personal market here, along with finding NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
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 internet that the majority of young people have heard of it but aren’t sure exactly what it means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can buy includes an NFT. The NFT is a token that is non-fungible that is very individual and cannot be replaced. It could be a piece of rareness, such as mint-condition baseball trading cards or unique vinyl album.
There’s no limit to what an NFT can be since it’s a non-fungible thing you’re selling online. More straightforwardly, you can just think of the NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and putting it up for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and create a collection! Fill out the proper and correct information regarding your NFT and choose what kind of settings you want to use it with (e.g., blockchain and payment tokens). Once that’s all done, you can finally upload it, if it’s within the 100 MB limit.
You can watch and see how the transactions go from now on to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably thinking about which kind of NFT can be purchased here and what you can also sell if you decide to go that route. The type of NFT that you can purchase isn’t limited since there’s a broad range of how you can do it.
It is possible to sell digital items, trading cards games, domain names, and even physical assets! 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 separates OpenSea from the others. There’s no cost for gas when you use this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you won’t need to spend on additional fees.
Very few NFT marketplaces have this feature, and it can be a fantastic way to receive high profit from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces there are advantages by referring your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, letting you earn more cash from this act.
Other NFT marketplaces do not have this kind of feature either and that’s another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
The mobile apps of OpenSea are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Greens
You can swap your fiat money via the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option of exchange for ETH, which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built around an ETH blockchain, wallets that share this network are appropriate for this website.
Here is a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage and the ability to buy cryptocurrency using credit cards. Nft Greens
For more information about the service, you can check their FAQs for an overview of how you can get started and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto industry and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- It is not possible to buy or sell items on our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- A Crypto account is needed to use this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft Greens
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as a form of payment. It’s an excellent platform for artists using it to sell NFTs because of its zero gas fees and the low commission rate you must pay.
You can browse and shop for an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea is a reputable marketplace since it was established at the end of 2018. Since its system is built on a blockchain that is secure, you can claim that your transactions are protected and secured.
In addition, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark is placed on your account or the collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the content to ensure users are secure.
How can I earn royalties from OpenSea?
As an artist, you can receive only up to 10% of the royalties once you upload the NFT. This is thought to be reasonably low compared with other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) can be widely used on this site and other sites to provide the increasing number of crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
What are the payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea has a mobile or desktop application?
As mentioned before there’s an official mobile app from OpenSea that is available for iOS and Android. Install it from their app store and begin exploring the collection now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts and receive notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
