Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto-coins. There are numerous marketplaces popping up all over the internet, designed to purchase and sell NFTs with cryptocurrency! OpenSea can be one and is worth looking into.
If you’re interested in crypto you’ve probably heard of OpenSea prior to this for a valid reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
Get on board, and let’s explore what you can do with OpenSea and also see the NFTs available to view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Kya Hai
The aim for OpenSea was to offer artists with a marketplace/platform to upload their commissions without any extra charges. There are additional features which allow you to market your work without having to deal with many problems.
When it comes to the registration process, you don’t have to give any personal information about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for the majority of transactions. It also functions with the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains it is possible to choose which one you want to publish your NFT as a seller. This will ensure the security of your NFT as well as those who would like to purchase it. Every transaction will be conducted along with this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name to official art by an artist you admire. Anyone can become a seller however, it takes some time for anyone to be an established one.
There’s a huge selection in the collection on OpenSea and you could become a part of this! You can set up your own market here, along with finding NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry,”NFT,” a popular term in the crypto industry “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 take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible currency that is individual and cannot be changed. This can be an item of any rarity like rare baseball trading cards in mint condition or rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible item that you sell online. More straightforwardly, you can just consider an NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You’re claiming the owner of the item or token that you posted to market, as offering it for sale. Typically, this is official once you fill out the correct information about the NFT and upload it to the marketplace.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and simply creating a collection to start! Complete the correct and complete information about your NFT and choose what kind of settings you’d like for it (e.g., blockchain and payment tokens). After that you are able to upload it to the internet if it’s in the 100 MB limit.
It is possible to wait 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 find here?
At this point you’re probably asking yourself what kind of NFTs can you shop for here and what kind of NFTs you can also sell if you decide to go down that path. The type of NFT that you can purchase is unlimited since there’s a broad range of how you can approach it.
You could be selling trade cards, digital goods, game assets, domain names, and also physical goods! Consider what you believe will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from other companies. There’s no cost for gas for using this feature to create and market NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you don’t need to pay on extra fees.
Very few NFT marketplaces offer this feature, and it is a great way to earn a high return from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets that offer rewards by referring your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, which means you can make more money from this act.
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’s mostly used for perusing through the marketplace. You can’t buy or sell anything as you scroll through the list.
OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell something, you can look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are to you to exchange your fiat money for cryptocurrency using these platforms. Nft Kya Hai
You can swap your fiat money via the 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 exchange for ETH which is the most common cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than other. Because it is based around an ETH blockchain, all wallets that share the same network are suitable for the site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, only mobile usage and the ability to purchase cryptocurrency with the credit card. Nft Kya Hai
For more information about the service You can go through their FAQs to see the steps you can start and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties 10% for artists (low royalty).
- Cannot buy or sell through the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto wallet is required to access this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will easily recover that amount when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Kya Hai
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to sell their works online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its low cost of gas and the low commission rate which you are required to pay.
You can browse and shop for an array of digital items on the NFT marketplace and you must go through it!
Is OpenSea legitimate and safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was founded on the 1st of December in the year 2018. Because its system 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 have built up your credibility. A blue checkmark will be assigned next to your account or the collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the content to ensure users are secure.
How do I earn royalties on OpenSea?
As an artist, you can receive only up to 10% of the royalties once you upload the NFT. This is considered to be quite low in comparison with others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been commonly used on this site as well as numerous others to cater for more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of for OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before There is an official mobile application from OpenSea for both iOS as well as Android. You can download it through their app store and begin exploring the collection right now!
A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you are able to 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/).
