Nft Juice

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Cryptocurrency is booming right now and you’re probably wondering where to invest your crypto currency. Marketplaces are popping up all over the internet, designed to purchase and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.

If you’re familiar with cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces for users of cryptocurrency due to its security and rapid transactions.

Get on board, and let’s explore what you can do with OpenSea, along with checking the NFTs that you can see!

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Before you go on, you may want to check out 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.

OpenSea as an NFT Marketplace Nft Juice

The aim of OpenSea was to simply provide artists with a marketplace/platform to upload their commissions with no additional costs. There are additional features which allow you to market your work without having to deal with many difficulties.

When it comes to registration, you don’t need to worry about giving too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that, without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It is also based using the Polygon blockchain, which ensures low-cost and quicker trading.

With these two kinds of blockchains that are available it is possible to choose which one you would like to upload your NFT on as an seller. This will ensure the security of your NFT as well as those who would like to purchase it. All transactions will be made by using the blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can exchange your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name, to a piece of art by an artist you admire. Anyone can sell however, it takes a while before anyone can become a reputable one.

There’s a huge selection of NFTs available at OpenSea and you could also be a part of that! You can create your own personal market on this site, as well as find NFTs you want to purchase yourself.

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What is an NFT?

In a recent advancement for the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but not exactly sure what it means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.

One of the latest ways you can buy is an NFT. An NFT is a non-fungible token which is extremely exclusive and cannot be replaced. It can be a piece of rarity like mint-condition baseball trading cards or a rare vinyl record.

There is no limit to what an NFT can be as it’s a non-fungible object you’re selling online. It is simpler to just consider as an NFT as a digital item paid via cryptocurrency only.

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 putting it up for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally upload it to the marketplace.

On OpenSea, it’s a simple process to mint your NFTs by going to the store and then create a collection! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain, payments tokens). After that then you’re able to upload it if it fits the 100 MB limit.

You can wait and observe how transactions progress from now to determine whether OpenSea is the marketplace for you.

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What NFTs can you get here?

In this moment you’re probably thinking about what kind of NFTs can be purchased here and what you can sell should you decide to pursue that route. The kind of NFT it can be is unlimited as there’s a variety of ways to go about it.

You can be selling trade cards, digital goods, game assets, domain names, and also physical goods! Find out what you think will bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what differentiates OpenSea from the others. There are no gas costs when you use this feature to mint and sell NFTs. This means you’ll be able to make the highest profits once you begin selling since you won’t have to spend on any additional charges.

Not many NFT marketplaces offer this feature, and it can be a fantastic way to earn a high return from your NFT collection.

Referral Program

A Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces that offer benefits by referring a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the purchase amount, letting you earn more cash by this method.

Other NFT marketplaces don’t offer this kind of feature either This is a further advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it is mainly used to browse through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.

The mobile apps from OpenSea are accessible for both iOS and Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are at your disposal, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Juice

You can convert your fiat currency using a 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 which is the standard cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace open to all forms of crypto, wallets are nonetheless more compatible than others. Since it is built mainly on the ETH blockchain, any wallets which are part of this network are appropriate for this website.

Here’s a list different crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and more!

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage and the ability to purchase cryptocurrency with a credit card. Nft Juice

For more information about the service You can go through their FAQs to see an overview of how you can get started and which other wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Available as mobile apps that are compatible with iOS and Android.
  • Smart contracts are used for transactions.
  • High-level security , with the backing of blockchain.
  • The best option for beginners to the crypto market and NFTs.

Cons

  • Allows royalty rates of up to 10% for artists (low royalties).
  • It is not possible to buy or sell items on our mobile apps.
  • Only accepts cryptocurrency as a method of payment.
  • The use of a Crypto digital wallet must be used for this marketplace.

Pricing

OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can quickly regain that when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Nft Juice

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to offer artists a way for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs due to its no gas fees and low commission fees that you have to pay.

You can shop and browse a vast collection of digital products on this NFT marketplace and you must go through it!

Is OpenSea legit & safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since the system it operates on is built on a blockchain that is secure, you can say that your transactions are protected and secured.

Additionally, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will be assigned to your account or the collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the content to ensure that users are safe.

How can I earn royalties from OpenSea?

Unfortunately, as an artist, you’ll be paid only 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison with others NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) can be widely used on this site and numerous others to cater for more cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can utilize to use OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. 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 definitely an official mobile application from OpenSea available for both iOS or Android. Install it from their app store, and then you can begin browsing through the collection right now!

The Desktop application that OpenSea which can be downloaded from WebCatalog. With the desktop application, you can manage multiple accounts and receive notifications on updates regarding 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/).

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