Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs using cryptocurrency! OpenSea can be one, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s explore the possibilities of OpenSea and also see the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Hydroponics Lettuce
The aim of OpenSea was to offer artists with a marketplace/platform to easily upload their commissions without any extra fees. There are additional features which allow you to market your artwork without any issues.
In terms of registration, you don’t need to provide too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized to carry out the majority of processes. It also operates on the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains you can pick which one you’d like to publish your NFT as seller. This will ensure the security of your NFT, along with those who would like to buy it. All transactions are made using this blockchain, which is why you need to consider 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 for other NFTs. It is possible to purchase anything as simple as a 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 become an established one.
There’s a huge selection from the selection of NFTs available at OpenSea, and you can become a part of this! You can create your own personal market here, along with finding NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry, the term “NFT” has been going around for so long on internet that a lot of millennials have heard of it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency is an NFT. An NFT is a non-fungible currency which is extremely individual and cannot be changed. This can be an item of rareness like authentic baseball cards or rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible object that you sell on the internet. In simpler terms, you could simply imagine an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming the ownership of the particular item that you posted to the marketplace, and you’re selling it. Typically, this is official when you have filled in all the necessary information about the NFT and then add it on the market.
On OpenSea, it’s a simple process to mint your NFTs by visiting the store and create a collection! Input the appropriate and accurate information about your NFT and select the type of settings you’d like for it (e.g., blockchain, money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the limit of 100MB.
You can watch and see how transactions progress from now on to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment, you’re probably wondering what kind of NFTs be found here and what you can also sell if you choose to pursue that route. The type of NFT that you can purchase is unlimited because there’s a wide range of options for how to do it.
It is possible to sell digital items, trading cards game assets, domain names, and even physical assets! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what differentiates OpenSea from the other options. There are zero gas fees for using this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you start selling because you don’t need to pay on additional fees.
There aren’t many NFT marketplaces have this feature, so this is a great way to receive high profit from your portfolio.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets that offer rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50% of the sale amount, letting you earn more money from this act.
Other NFT marketplaces do not have this kind of feature either, so that’s just another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly for perusing through the marketplace. You can’t buy or sell anything as you browse through the listing.
The mobile apps of OpenSea are available on the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are to you You can also exchange your fiat money for cryptocurrency through these platforms. Nft Hydroponics Lettuce
You can swap the fiat currency you have with a the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of these have the option of exchange for ETH that is the most common crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all kinds of crypto, wallets are still more compatible with it than other. Since it is built mainly using the ETH blockchain, all wallets with a connection to that network will be suitable for this website.
Here is a list of various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage and the ability to purchase cryptocurrency with the credit card. Nft Hydroponics Lettuce
To know more about it to learn more, check out their FAQs to see a rundown of how you can get started and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about 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.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- It is not possible to buy or sell items through the mobile app.
- Only accepts cryptocurrency as a form of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Hydroponics Lettuce
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way for selling their artwork online, and to accept cryptocurrency as their form of payment. It’s an excellent option for artists who want to use for selling NFTs because of its zero cost of gas and low commission fee rate which you are required to pay.
You can shop and browse an array of digital items on the NFT marketplace which is why you should definitely go through it!
Is OpenSea legit & is it safe?
The short answer is yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are safe and secure.
In addition, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark is placed next to your account or collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure that users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will get only 10% of the royalties once you have uploaded the NFT. This is considered to be a reasonable amount compared with the other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) is widely used on this site as well as many others to accommodate many more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize for 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 just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned there’s an official mobile app by OpenSea available for both iOS as well as Android. You can download it through their app store and you can start exploring the collection now!
The Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application you can manage multiple accounts as well as receive 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/).
