The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto currency. Markets have popped up across the digital web 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 about OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.
So, hop on board and discover the possibilities of OpenSea, along with checking 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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Insertion
The aim for OpenSea was to provide artists with a marketplace/platform to easily upload their commissions with no additional charges. It also has additional functions that let you sell your artwork without any problems.
When it comes to registration, you don’t need to worry about giving any personal information about yourself. All you have to connect your cryptocurrency 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 on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used to carry out the majority of processes. It is also based using the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains available, you can choose which one you’d like to transfer your NFT to as a seller. This is to ensure the security of your NFT, along with those who wish to purchase it. All transactions will be made using this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name to official art from an artist that you admire. Anyone can become a seller however it takes time for anyone to become a reputable one.
There’s a huge selection from the selection on OpenSea, and you can join in with that! You can set up your own personal market on this site, as well as find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry, the term “NFT” has been going around so long on the internet that the majority of young people have heard of it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for any beginners in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency can be an NFT. A NFT is a non-fungible currency which is extremely unique and can’t be substituted. This can be an item of any rareness, such as authentic baseball cards, or a rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. It is simpler to simply think of the NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs on your own NFTs. You’re claiming ownership over that particular token/item you uploaded on the market place, but selling it. Usually, this becomes official after you fill in all the necessary information about the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and then making a collection to begin! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use it with (e.g. blockchain, money transfer tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now on to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering which kind of NFT can you shop for here and what kind of NFTs you can also sell if you decide to go down that path. The kind of NFT that you can purchase isn’t limited as there’s a variety of how you can go about it.
You could be selling digital products, trading cards, game assets domain names, also physical goods! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the others. There are no gas costs when you use this feature when you make and then sell the NFTs. This means you’ll be able to make the highest profits once you sell because you won’t have to spend on additional fees.
Very few NFT marketplaces offer this feature, and it can be a fantastic way to receive high profit from your portfolio.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets there are advantages when you refer a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t 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 is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
The mobile apps from OpenSea are accessible for both iOS as well as Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you You can also exchange your fiat money for cryptocurrency through these platforms. Nft Insertion
You can convert your fiat money via the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of these have the option of exchange for ETH that is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets nonetheless more compatible than other. Since it is built using an ETH blockchain, wallets which are part of that network will be suitable for this site.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations including simple registration, only mobile usage as well as the capability to buy cryptocurrency using credit cards. Nft Insertion
To learn more about it You can go through their FAQs to get an overview of how you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps available for iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- You cannot buy or sell products through this mobile application.
- Only supports cryptocurrency as its method of payment.
- The use of a Crypto wallet is required for this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly regain that when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft Insertion
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s an ideal platform for artists who use for selling NFTs due to its low cost of gas and low commission fee rate you must pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace and you must take a look!
Is OpenSea real and secure?
The short answer is yes! OpenSea is a reputable marketplace since it was established in the year of 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are protected and secured.
Furthermore, as a seller, you can become verified once you have built up your credibility. A blue checkmark is placed on your account or collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the content to ensure that users are protected.
How can I earn royalties from OpenSea?
As an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is believed to be quite low in comparison against other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) is frequently utilized on this website and many others to accommodate many more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to use OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned, there is definitely an official mobile application from OpenSea for both iOS and Android. You can download it through their app store, and begin exploring the collection right now!
The version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application, you can 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/).
