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Cryptocurrency is booming right now, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the internet, designed to buy and sell NFTs via cryptocurrency! OpenSea is among them and is worth looking into.

If you’re familiar with cryptocurrency you’ve likely heard of OpenSea before for a good reason. It has become one of the biggest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.

So, hop on board and discover what you can do with OpenSea, along with checking the NFTs that you can see!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Le Plus Cher

The aim of OpenSea was to offer an online marketplace for artists to upload their commissions with no additional fees. It also has additional functions which allow you to market your artwork without any difficulties.

For registration, you don’t need to provide any personal information about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used in 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 also operates with the Polygon blockchain, which ensures low-cost and quicker trading.

There are two types of blockchains available, you can choose which one you’d like to upload your NFT on as an seller. This will ensure the security of your NFT and the people who want to buy it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall that lets you trade your cryptocurrency or NFTs for other NFTs. You can purchase anything from just a domain name to official art from an artist you admire. Anyone can become a seller however, it takes some time for anyone to become an established seller.

There is a wide variety from the selection on OpenSea and you can join in with this! You can start your own marketplace on this site, as well as find NFTs you’d like to buy for yourself.

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What is an NFT?

In a recent development for 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 have heard of it but aren’t sure exactly what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.

One of the latest ways you can buy can be an NFT. The NFT is a non-fungible currency that is individual and cannot be changed. It can be a piece of rarity like rare baseball trading cards in mint condition or a rare vinyl record.

There is no limit to what an NFT can be since it’s a non-fungible object you’re selling on the internet. In simpler terms, you could simply imagine an NFT being a virtual collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. It is a way of claiming the owner of the item or token that you have uploaded to the marketplace, and selling it. Usually, this becomes official when you have filled in the correct information about the NFT and add it on the market.

On OpenSea, it’s a simple process to mint your NFTs by visiting the store and creating a collection to start! Complete the correct and complete information about your NFT and then select what type of settings you want for it (e.g., blockchain and payments tokens). After that, you can finally upload it if it fits the 100 MB limit.

It is possible to wait and see how transactions progress from here on out to determine whether OpenSea is the best marketplace for you.

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What NFTs can you get here?

So, at this point you’re probably thinking about what kind of NFTs can be purchased here and what kind of NFTs you can also sell if you choose to go that route. The type of NFT it isn’t limited as there’s a variety of ways to approach it.

You can be selling trade cards, digital goods, game assets, domain names, and even physical assets! Consider what you believe will yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that differentiates OpenSea from the other options. There are zero gas fees when you use this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you won’t have to spend on additional fees.

There aren’t many NFT marketplaces offer this feature, which is why this can be a fantastic way to receive high profit from your NFT collection.

Referral Program

A Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive benefits when you refer someone else to OpenSea! If you invite a friend to join OpenSea and buy an NFT from the site, you’ll receive 2.50% of the sale amount, which means you can earn more cash by this method.

Other NFT marketplaces don’t offer the same feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly used to browse through the marketplace. It isn’t able to purchase or sell items as 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 at least browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are to you to convert your fiat money into cryptocurrency on these platforms. Nft Le Plus Cher

You can convert your fiat money via credit card or Paypal through these trusted sites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

All of these have the option of exchange for ETH, which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, the wallets still more compatible with it than other. Since it is built around an ETH blockchain, all wallets that share the same network are suitable for the site.

Here’s a list of different 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 one has its own set of limitations like easy registration, only mobile usage as well as the capability to purchase cryptocurrency with the credit card. Nft Le Plus Cher

For more information about the service to learn more, check out their FAQs to get an overview of how you can get started and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps are available 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 market and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalty).
  • You cannot buy or sell products on our mobile apps.
  • Only accepts cryptocurrency as a method of payment.
  • An Crypto account is needed to use this marketplace.

Pricing

OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. However, overall, you will quickly recover this amount if you sell regularly since there’s no extra charge for it.

Frequently Asked Questions Nft Le Plus Cher

What is OpenSea?

OpenSea is an NFT marketplace that seeks to offer artists a way to market their work online and receive cryptocurrency as their form of payment. It’s an excellent option for artists who want to use the platform to market NFTs because of its zero gas fees and the low commission rate that you have to pay.

You can shop and browse the vast array of digital goods in this NFT marketplace which is why you should definitely go through it!

Is OpenSea legitimate and safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was founded in 2018. Because its system is built on a blockchain, it is safe to claim 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 appear to your account or the collection you uploaded to reassure every customer. The team at OpenSea regularly checks the content to ensure users are protected.

How do I earn royalties from OpenSea?

However, as an artist, you’ll receive only up to 10 percent of the royalties when you have uploaded the NFT. This is believed to be reasonably low compared against the other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as many others to accommodate many more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can make use of for OpenSea.

Which are the accepted payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges through its website. You can buy and trade cryptocurrency using 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 is definitely an official mobile application from OpenSea that is available for iOS and Android. Download it at their respective app store, and begin exploring the collection right now!

The desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you are able to manage multiple accounts and get alerts on any updates that affect 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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