Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. Markets have popped up across the digital web designed to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.
Get on board, and discover the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft How To Make Money
The aim to create OpenSea was to simply provide an online marketplace for artists to easily upload their commissions with no additional costs. It also has additional functions that allow you to sell your artwork without any issues.
For the registration process, you don’t have to provide all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for the majority of transactions. It also operates on the Polygon blockchain to ensure the lowest cost and speediest trading.
There are two types of blockchains available it is possible to choose which one you’d like to publish your NFT as a seller. This ensures the safety of your NFT and the people who want to purchase it. All transactions will be made along with this blockchain, and you must consider 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 purchase anything from the simplest domain name, to a piece of art from an artist that you admire. Anyone can be a seller however it takes a while for anyone to be an established one.
There’s a huge selection from the selection on OpenSea and you could join in with the collection! You can create your own personal market here, along with finding NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that a lot of millennials are familiar with it , but aren’t sure exactly what it means. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can buy is an NFT. The NFT is a token that is non-fungible that is very unique and can’t be substituted. It could be an item of rareness, such as mint-condition baseball trading cards or a rare vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible item that you sell on the internet. More straightforwardly, you can just imagine an NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You’re claiming the ownership of the particular item you uploaded on market, as you’re putting it up for sale. Usually, this is recognized when you have filled in the proper information regarding the NFT and then submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and simply create a collection! Fill out the proper and correct information regarding your NFT and select the type of settings you’d like to use for it (e.g. blockchain or money transfer tokens). After that you are able to upload it if it fits the 100 MB limit.
You can watch and see how transactions progress from now on to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point you’re probably asking yourself the kind of NFTs can be found here and what you can also sell if you decide to go down that path. The type of NFT that you can purchase is unlimited as there’s a variety of options for how to do it.
You could be selling digital items, trading cards game assets domain names, also physical goods! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas when you use this feature when you create and market NFTs. This is essentially a way to ensure that you get the most profit when you sell because you don’t need to pay on any additional charges.
Not many NFT marketplaces provide this feature, so this is great for you to make a huge profit from your portfolio.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are rewards when you refer someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there, you’ll receive 2.50% of the sale amount, letting you earn more cash by this method.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.
The mobile apps from OpenSea are accessible on both iOS as well as Android. Even though you can’t buy or sell things, you can at least explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available at your disposal You can also exchange your fiat money for cryptocurrency through these platforms. Nft How To Make Money
You can exchange the fiat currency you have with a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option of converting them into ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all types of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based on an ETH blockchain, all wallets which are part of the same network are suitable for this site.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations including simple registration, only mobile usage, and the function to purchase cryptocurrency with credit cards. Nft How To Make Money
For more information about the service to learn more, check out their FAQs to get a rundown of how you can get started and which other wallets are compatible 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 an exception to this. You can read about its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalties).
- Cannot buy or sell through this mobile application.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can quickly recover this amount if you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft How To Make Money
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform to market their work online and receive cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs because of its zero gas costs and low commission fees which you are required to pay.
You can browse and purchase an array of digital items on the NFT marketplace and you must go through it!
Is OpenSea legit & safe?
Answer: Yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in the year 2018. Since the system it operates on is built on a blockchain, it is safe to say that your transactions are secure and safe.
Additionally, as a seller, you will be verified after you build up your reputation. A blue checkmark will appear to your account or collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the content to ensure users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is believed to be reasonably low compared with others NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been widely used on this site and other sites to provide more cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before There is an official mobile app by OpenSea for both iOS as well as Android. Install it from their app store, and you can start browsing through the collection right now!
There is also a desktop application for OpenSea which can be downloaded from 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/).
