The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto-coins. Markets have popped up across the internet, designed to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth checking out.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and let’s explore what you can do with OpenSea as well as examining 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’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Hidroponik
The aim of OpenSea was to simply provide artists with a marketplace/platform to upload their commissions with no additional costs. It has more functions which allow you to market your artwork without any difficulties.
For registration, you won’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’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use within 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 the majority of transactions. It is also based with 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 want to upload your NFT on as seller. This ensures the safety of your NFT, along with the people who want to buy it. All transactions are made along with this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist you admire. Anyone can become a seller however, it takes time for anyone to be an established seller.
There are a variety of NFTs in the collection on OpenSea and you could become a part of the collection! You can start your own personal market here, along with finding NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials have heard of it but aren’t sure exactly what it is. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible currency that is very exclusive and cannot be replaced. This can be a piece of rarity like authentic baseball cards or a uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible item that you can sell on the internet. It is simpler to just think of an NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. You’re claiming the ownership of the particular item that you posted to the marketplace, and you’re putting it up for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and upload it to the marketplace.
On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and then making a collection to begin! Complete the correct and correct information regarding your NFT and choose what kind of settings you’d like for it (e.g. blockchain or money transfer tokens). Once that’s all done you are able to upload it, if it’s within the 100 MB limit.
You can watch and see how the transactions go from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably thinking about what kind of NFTs be found here, and what you could also sell if you decide to go that route. The kind of NFT it isn’t limited because there’s a wide range of how you can do it.
You could be selling trade cards, digital goods, game assets, domain names, and some physical items! Find out what you think will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that differentiates OpenSea from the other options. There are zero gas fees for using this feature to create and market NFTs. This means you’ll be able to make the highest profits once you start selling because you won’t need to spend on additional fees.
Very few NFT marketplaces offer this feature, which is why this can be a fantastic way to earn a high return from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets that offer advantages by referring your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll earn 2.50% of the sale amount, letting you make more money by this method.
Other NFT marketplaces don’t have this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
The mobile apps of OpenSea are available for both iOS in addition to Android. While you’re not able to buy or sell things, you can at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use to exchange your fiat money for cryptocurrency on these platforms. Nft Hidroponik
You can swap the fiat currency you have with a credit card or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
Each of them has the option of exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based using an ETH blockchain, any wallets with a connection to that network will be suitable for this site.
Here is a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage and the ability to buy cryptocurrency using a credit card. Nft Hidroponik
For more information about the service, you can check their FAQs for an overview of how you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as 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 world and NFTs.
Cons
- Allows royalty rates of up to 10% for artists (low royalty rates).
- You cannot buy or sell products via this mobile application.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto account is needed to use this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. However, overall, you will easily recover that amount when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Hidroponik
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online to receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use the platform to market NFTs due to its low gas fees and low commission fee rate you must pay.
You can browse and shop for the vast array of digital items on the NFT marketplace which is why you should definitely go through it!
Is OpenSea legitimate and safe?
The short answer is yes! OpenSea has been a trusted marketplace since its inception at the end of 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.
Additionally as a seller you can become verified once you build up your reputation. A blue checkmark will be assigned on your account or the collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the content to ensure users are safe.
How do I earn royalties from OpenSea?
However, as an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is believed to be a reasonable amount compared to the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is widely utilized on this website and numerous others to cater for the increasing number of cryptocurrency 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.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or trade cryptocurrency using reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier There is an official mobile app from OpenSea available for both iOS and Android. You can download it through their app store, and you can start exploring the collection right now!
There is also a desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect 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/).
