The cryptocurrency market is on the rise and you’re probably thinking where you can invest your crypto coins. Markets have popped up all over the digital web designed to purchase and sell NFTs with cryptocurrency! OpenSea can be one and is worth checking out.
If you’re familiar with cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the biggest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
So, hop on board and discover what you can do with OpenSea as well as examining the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Hydroponic Recirculating Water Treatment Systems
The goal to create OpenSea was to simply provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional charges. It also has additional functions that let you sell your work without having to deal with many issues.
In terms of registration, you don’t need to provide all of your personal details. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for the majority of transactions. It also operates with the Polygon blockchain to ensure lower costs and faster trading.
There are two types of blockchains that are available, you can choose which one you want to transfer your NFT to as a seller. This will ensure the security of your NFT as well as the people who want to purchase it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name to an official artwork from an artist you admire. Anyone can sell however, it takes time for anyone to become an established seller.
There’s a huge selection in the collection of NFTs available at OpenSea, and you can become a part of this! You can start your own market there, and also find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry, the term “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t exactly sure what it is. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways you can buy is an NFT. The NFT is a token that is non-fungible that is exclusive and cannot be replaced. It could be a piece of rareness like mint-condition baseball trading cards or unique vinyl album.
There’s no limit on what an NFT can be as it’s a non-fungible thing that you can sell on the internet. It is simpler to just imagine an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the ownership of the particular item that you posted to market, as you’re offering it for sale. Usually, this is recognized after you fill in all the necessary information about the NFT and then add it on the market.
On OpenSea, it’s a simple procedure to create your own NFTs by visiting the store and then create a collection! Complete the correct and complete information about your NFT and then select what type of settings you’d like to use to use it with (e.g. blockchain or payment tokens). Once that’s all done then you’re able to upload it to the internet if it’s in the limit of 100MB.
You can watch and see how transactions progress from now to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably asking yourself which kind of NFT be purchased here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT that you can purchase isn’t limited as there’s a variety of how you can approach it.
You can be selling trade cards, digital goods game assets, domain names, and even physical assets! Explore what you believe can reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager function is the one that separates OpenSea from the others. There are no gas costs when you utilize this feature to create and market NFTs. This simply means that you’ll be able to make the highest profits once you start selling because you don’t need to pay on extra fees.
There aren’t many NFT marketplaces offer this feature, so this is great for you to earn a high return from your collection.
Referral Program
A Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive rewards by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can earn more money from this act.
Other NFT marketplaces don’t have the same 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 is mainly used for perusing through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell something, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use to exchange your fiat money for cryptocurrency on these platforms. Nft Hydroponic Recirculating Water Treatment Systems
You can convert the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of these have the option to 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 other. Since it is built on an ETH blockchain, all wallets that share this network are appropriate for the site.
Here is a list of different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, only mobile usage, and the function to purchase cryptocurrency using a credit card. Nft Hydroponic Recirculating Water Treatment Systems
For more information about the service to learn more, check out their FAQs to see an overview of how you can start and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto industry and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty).
- Cannot buy or sell through our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- A Crypto account is needed for this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly regain that when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Hydroponic Recirculating Water Treatment Systems
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way for selling their artwork online, and to accept 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 costs and the low commission rate which you are required to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace, so you should take a look!
Is OpenSea real and secure?
Answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in the year of 2018. Because its system is built on blockchain technology that is secure, you can say that your transactions are secure and safe.
In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark is placed to your account or collection you uploaded to reassure any customer. The team at OpenSea regularly checks the contents to ensure users are protected.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you will receive only up to 10 percent of the royalties after 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) is frequently used on this site and many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea has a mobile or desktop application?
As we mentioned earlier there’s an official mobile app by OpenSea that is available for iOS as well as Android. You can download it through their app store and then you can begin browsing through the collection right now!
There is also a Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts and receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
