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The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto coins. Marketplaces are popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.

If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for cryptocurrency users because of its security and quick transactions.

Now hop aboard, and let’s explore what you can do with OpenSea and also see what NFTs you can view!

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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 Grow Yield

The purpose of OpenSea was to provide artists with a marketplace/platform to upload commissions, without having to pay any additional fees. It has more functions that allow you to sell your artwork without any difficulties.

When it comes to the registration process, you don’t have to provide too many details about yourself. All you have to do is 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.

OpenSea: Blockchain

The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for most processes. It is also based using the Polygon blockchain, which allows for the lowest cost and speediest trading.

There are two types of blockchains available, you can choose which one you’d like to upload your NFT on as an seller. This is to ensure the security of your NFT as well as those who wish to purchase it. Every transaction will be conducted by using the blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to an official artwork by an artist you admire. Anyone can sell however, it takes a while for anyone to become an established seller.

There’s a huge selection in the collection on OpenSea and you could join in with the collection! You can create your own market there, and also find NFTs you’d like to buy yourself.

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> > 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 so long on the internet that many millennials are familiar with it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in cryptocurrency.

One of the latest ways you can buy includes an NFT. The NFT is a non-fungible currency that is individual and cannot be substituted. It can be a piece of rareness like rare baseball trading cards in mint condition or rare vinyl record.

There’s no limit on what an NFT could be, since it’s a non-fungible thing that you sell on the internet. It is simpler to just think of the NFT to be a type of digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you have uploaded to market, as putting it up for sale. Usually, this is recognized when you have filled in the proper information regarding the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and create a collection! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain or money transfer tokens). After that, you can finally upload it, if it’s within the limit of 100MB.

It is possible to wait and see the way transactions are handled from here on out to determine if OpenSea is the right marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs can you find here?

In this moment, you’re probably wondering the kind of NFTs be purchased here and what you can sell should you decide to pursue that route. The kind of NFT that you can purchase is unlimited as there’s a variety of options for how to go about it.

You could be selling digital products, trading cards games, domain names, and also physical goods! Explore what you believe can yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that differentiates OpenSea from other companies. There’s no cost for gas for using this feature when you mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you don’t need to pay on any additional charges.

There aren’t many NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your portfolio.

Referral Program

A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets there are rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there, you’ll receive 2.50% of the sale amount, letting you earn more money from this act.

Other NFT marketplaces don’t have this feature, so that’s just another advantage OpenSea has over the other marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. You can’t buy or sell items as you browse through the listing.

The mobile apps from OpenSea are accessible on the two platforms of iOS in addition to Android. Even though you can’t buy or sell anything, you can still explore the products you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available to you You can also exchange your fiat money for cryptocurrency through these platforms. Nft Grow Yield

You can exchange the fiat currency you have with a credit card or Paypal via these reputable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and other things!

All of these have the option to exchange for ETH which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, wallets are still more compatible with it than other. Since it is built on an ETH blockchain, all wallets which are part of that network will be suitable for the site.

Here’s a list different crypto wallets which you can use with OpenSea:

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

*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage and the ability to purchase cryptocurrency using a credit card. Nft Grow Yield

To learn more about it You can go through their FAQs to see the steps you can begin and what other crypto wallets work with OpenSea.

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> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and cons here:

Pros

  • Mobile apps are available for iOS and Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalties of only up to 10% for artists (low royalties).
  • It is not possible to buy or sell items via the mobile app.
  • Only accepts cryptocurrency as a method of payment.
  • A Crypto account is needed to access this marketplace.

Pricing

OpenSea is available to anyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly recover this amount if you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft Grow Yield

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 to accept cryptocurrency as a method of payment. It’s a great platform for artists who use the platform to market NFTs due to its no cost of gas and the low commission rate that you have to pay.

You can browse and shop for a vast collection of digital products on this NFT marketplace which is why you should definitely go through it!

Is OpenSea legit & safe?

Answer: Yes! OpenSea has been a trusted marketplace since its inception in the year 2018. Since the system it operates on is built on blockchain technology that is secure, you can declare that transactions are secure and safe.

Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will appear to your account or the collection you uploaded to reassure every customer. The OpenSea team reviews regularly the content to ensure users are protected.

How do I earn royalties from OpenSea?

However, as an artist, you’ll 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 available in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as numerous others to cater for the increasing number of cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

What are the payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea have a desktop or mobile application?

As mentioned before, there is definitely an official mobile app by OpenSea available for both iOS or Android. You can download it through their app store and then you can begin exploring the collection right now!

A Desktop application that OpenSea that can be downloaded through WebCatalog. With 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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