The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto-coins. Marketplaces are popping up across the internet, designed to buy and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency users because of its security and quick transactions.
Get on board, and let’s explore the possibilities of OpenSea and also see 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 review. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Intern
The purpose to create OpenSea was to simply provide artists with a marketplace/platform to upload commissions without any extra charges. It has more functions which allow you to market your work without having to deal with many difficulties.
When it comes to registration, you won’t have to worry about giving any personal information about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used to carry out the majority of processes. It is also based with the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two kinds of blockchains it is possible to choose which one you’d like to transfer your NFT to as an seller. This is to ensure the security of your NFT, along with the people who want to purchase it. All transactions are made along with this blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything just a domain name to official art from an artist that you admire. Anyone can be a seller however, it takes time before anyone can become an established one.
There’s a huge selection from the selection on OpenSea and you can join in with this! You can set up your own market on this site, as well as find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that the majority of young people are familiar with it but aren’t exactly sure what it is. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency includes an NFT. A NFT is a token that is non-fungible which is extremely individual and cannot be replaced. It could 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 could be, since it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can simply think of an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to the market place, but you’re offering it for sale. Typically, this is official once you fill out the proper information regarding the NFT and then submit it for sale on.
On OpenSea, it’s a simple procedure to create your own NFTs by visiting the store and then making a collection to begin! Fill out the proper and complete information about your NFT and select the type of settings you’d like to use for it (e.g., blockchain and money transfer tokens). After that, you can finally upload it to the internet if it’s in the limit of 100MB.
It is possible to wait and see how transactions progress from now on to determine 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 the kind of NFTs 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 because there’s a wide range of how you can go about it.
It is possible to sell digital items, trading cards, game assets, domain names, and some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what differentiates OpenSea from the others. There are no gas costs for using this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on additional fees.
Very few NFT marketplaces provide this feature, and it can be a fantastic way to earn a high return from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer advantages by referring your 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 purchase amount, which means you can make more money through this action.
Other NFT marketplaces do not have this kind of feature either and that’s another 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 to browse through the marketplace. You can’t buy or sell items as you browse through the listings.
The mobile apps of OpenSea are available on both iOS as well as Android. While you’re not able to buy or sell things, you can browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency through these platforms. Nft Intern
You can convert the fiat currency you have with a credit card or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option of converting them into ETH, which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all forms of crypto, wallets are still more compatible with it than others. Since it is built mainly on the ETH blockchain, all wallets which are part of that network will be suitable for the site.
Here’s a list different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, use on mobile devices only and the ability to purchase cryptocurrency with the credit card. Nft Intern
To learn more about it, you can check their FAQs for the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- It is not possible to buy or sell items on the mobile app.
- Only accepts cryptocurrency as a form of payment.
- A Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. But overall, you can quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Intern
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way to market their work online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists who use for selling NFTs due to its no gas costs and low commission fees that you have to pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace and you must go through it!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established in the year 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are protected and secured.
Additionally as a seller you can become verified once you build up your reputation. A blue checkmark is placed next to your account or collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are protected.
How can I earn royalties from OpenSea?
However, as an artist, you’ll get only 10 percent of the royalties after you upload the NFT. This is believed to be quite low in comparison to other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) can be 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 primary cryptocurrencies you can utilize to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or trade cryptocurrency using reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile app?
As previously mentioned, there is definitely an official mobile app by OpenSea available for both iOS as well as Android. Download it at their respective app store and begin browsing through the collection right now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. In 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/).
