The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto currency. There are numerous marketplaces popping up all over the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth checking out.
If you’re interested in crypto, you’ve probably heard of OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and let’s explore the possibilities of 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 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 Lettuce Guppies
The goal for OpenSea was to offer an online marketplace for artists to upload commissions with no additional charges. It also has additional functions which allow you to market your art without too many difficulties.
When it comes to registration, you won’t have to give too many details about yourself. All you need to connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used for most processes. It also operates with the Polygon blockchain, which ensures lower costs and faster trading.
There are two types of blockchains that are available, you can choose which one you would like to upload your NFT on as seller. This is to ensure the security of your NFT as well as those who wish to purchase it. Every transaction will be conducted by using the blockchain, and you must think about where to 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 buy anything just a domain name, to a piece of art by an artist you admire. Anyone can be a seller however, it takes some time for anyone to be an established one.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you can become a part of this! You can create your own marketplace there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on internet that the majority of young people are familiar with it but not exactly sure what it actually means. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. A NFT is a token that is non-fungible which is extremely individual and cannot be replaced. This can be a piece of 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 thing that you can sell online. It is simpler to simply imagine an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. You’re claiming ownership over that particular token/item that you posted to the market place, but selling it. Typically, this is official once you fill out the correct information about 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 create a collection! Fill out the proper and accurate information about your NFT and then select what type of settings you want for it (e.g. blockchain and payment tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
You can wait and observe how transactions progress from now on to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering what kind of NFTs can be found here and what kind of NFTs you can also sell if you decide to go that route. The type of NFT it is unlimited because there’s a wide range of ways to do it.
You could be selling digital items, trading cards, game assets, domain names, and also physical goods! Find out what you think will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from the others. There are zero gas fees when you utilize this feature to make and then sell the NFTs. This means you’ll get the most profit when you begin selling since you don’t need to pay on additional fees.
Not many NFT marketplaces have this feature, so this can be a fantastic way to earn a high return from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces, you can receive advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there, you’ll receive 2.50% of the sale amount, which means you can make more money through this action.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listings.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. While you’re not able to buy or sell things, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Lettuce Guppies
You can exchange your fiat currency using a your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of these have the option of exchange for ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all types of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built mainly using an ETH blockchain, any wallets with a connection to that network will be suitable for this website.
Here’s a list several crypto wallets which you can use with 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 has its own limitations, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Nft Lettuce Guppies
For more information about the service to learn more, check out their FAQs to get an overview of how you can start and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty rates).
- It is not possible to buy or sell items via the mobile app.
- Only accepts cryptocurrency as a method of payment.
- The use of a Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll easily recover that amount when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft Lettuce Guppies
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists who use the platform to market NFTs due to its low gas fees and low commission fee rate that you have to pay.
You can shop and browse the vast array of digital goods in this NFT marketplace and you must go through it!
Is OpenSea legitimate and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year 2018. Because its system is based on a blockchain that is secure, you can declare that transactions are safe and secure.
Furthermore, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or the collection you’ve uploaded to ensure the safety of any customer. The OpenSea team reviews regularly the contents to ensure users are secure.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can get only 10 percent of the royalties after you upload the NFT. This is thought to be reasonably low compared with others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is frequently used on this site as well as many others to accommodate more crypto users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As mentioned before there’s an official mobile app from OpenSea available for both iOS and Android. You can download it through their app store, and then you can begin browsing through the collection right now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
