Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the internet, designed to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.
If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
Get on board, and discover 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. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Hydroponic Rail System
The purpose of OpenSea was to offer 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 work without having to deal with many difficulties.
When it comes to registration, you won’t have to give too many details about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used for the majority of transactions. It also functions using the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds of blockchains that are available, you can choose which one you would like to upload your NFT on as seller. This ensures the safety of your NFT as well as those who would like to buy 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 online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist that you admire. Anyone can become a seller, but it takes some time for anyone to become a reputable one.
There is a wide variety of NFTs available of NFTs available at OpenSea and you can also be a part of the collection! You can create your own marketplace here, along with finding NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that many millennials have heard of it but aren’t exactly sure what it actually means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can buy includes an NFT. A NFT is a non-fungible token that is very individual and cannot be replaced. This can be an item of any rareness like rare baseball trading cards in mint condition, or a uncommon vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible thing you’re selling on the internet. More straightforwardly, you can just imagine an NFT as a digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to the marketplace, and offering it for sale. Usually, this becomes official when you have filled in the correct information about the NFT and finally submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and create a collection! Complete the correct and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain, money transfer tokens). After you’ve completed the process, you can finally upload it if it fits the 100 MB limit.
It is possible to wait and see the way transactions are handled from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering what kind of NFTs be purchased here, and what you could also sell if you decide to pursue that route. The type of NFT it isn’t limited as there’s a variety of options for how to approach it.
You could be selling digital items, trading cards games domain names, also physical goods! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the others. There’s no cost for gas for using this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you don’t need to pay on any additional charges.
Not many NFT marketplaces offer this feature, and it is a great way to receive high profit from your collection.
Referral Program
The Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets, you can receive benefits by referring a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, letting you make more money through this action.
Other NFT marketplaces do not have this feature, so that’s just another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell things, 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 at your disposal to exchange your fiat money for cryptocurrency using these platforms. Nft Hydroponic Rail System
You can exchange your fiat money via credit card or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option to exchange for ETH that is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than other. Since it is built mainly around the ETH blockchain, all wallets with a connection to the same network are suitable for the site.
Here’s a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, use on mobile devices only and the ability to purchase cryptocurrency using credit cards. Nft Hydroponic Rail System
To learn more about it to learn more, check out their FAQs for the steps you can start and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps available for iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties 10% for artists (low royalty rates).
- You cannot buy or sell products on our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- The use of a Crypto account is needed to access this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly recover this amount if you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Hydroponic Rail System
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform for selling their artwork online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists who use 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 a vast collection of digital goods in this NFT marketplace and you must take a look!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in 2018. Since the system it operates on is built on blockchain technology, it is safe to 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 will appear next to your account or any collection you’ve uploaded to ensure the safety of any customer. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is thought to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been widely used on this site as well as numerous others to cater for the increasing number of crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize for OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier There is an official mobile application from OpenSea for both iOS as well as Android. Install it from their app store, and then you can begin exploring the collection right now!
The Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app you can manage multiple accounts and get notifications about updates to 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/).
