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The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto-coins. There are numerous marketplaces popping up all over the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth a look.

If you’re interested in crypto, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces among cryptocurrency users because of its safety and speedy transactions.

So, hop on board and discover what you can do with OpenSea as well as examining the NFTs available to view!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Major Company

The purpose of OpenSea was to offer an online marketplace for artists to upload their commissions, without having to pay any additional fees. It has more functions that allow you to sell your artwork without any issues.

When it comes to 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 with OpenSea! It’s as easy as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for most processes. It is also based on the Polygon blockchain to ensure low-cost and quicker trading.

With these two kinds of blockchains available, you can choose which one you’d like to upload your NFT on as an seller. This ensures the safety of your NFT as well as those who would like to buy it. All transactions will be made using this blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art from an artist that you admire. Anyone can sell however, it takes time for anyone to become an established one.

There is a wide variety of NFTs available on OpenSea and you could also be a part of that! You can create your own personal market there, and also find NFTs that you would like to purchase yourself.

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What is an NFT?

In a recent development for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that the majority of young people are familiar with it but aren’t sure exactly what it means. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.

One of the newest things you can purchase your cryptocurrency can be an NFT. An NFT is a token that is non-fungible which is extremely individual and cannot be changed. It could be an item of rarity like mint-condition baseball trading cards, or a rare vinyl record.

There’s no limit on what an NFT can be as it’s a non-fungible item you’re selling online. It is simpler to simply consider as an NFT to be a type of digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. It is a way of claiming the ownership of the particular item that you posted to market, as offering it for sale. Usually, this is recognized when you have filled in the proper information regarding the NFT and submit it for sale on.

On OpenSea it’s a straightforward process to mint your NFTs by going to the store and making a collection to begin! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g., blockchain or payment tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.

It is possible to wait and see the way transactions are handled from now on to determine whether OpenSea is the right marketplace for you.

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What NFTs can you get here?

So, at this point, you’re probably wondering which kind of NFT be purchased here and what kind of NFTs you can also sell if you decide to go down that path. The kind of NFT it can be is unlimited because there’s a wide range of how you can approach it.

You can be selling digital products, trading cards, game assets domain names, also physical goods! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that separates OpenSea from the other options. There are no gas costs for using this feature when you create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t need to spend on extra fees.

Very few NFT marketplaces offer this feature, which is why this is a great way to receive high profit from your NFT collection.

Referral Program

This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces, you can receive rewards by referring someone else to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, letting you make more money through this action.

Other NFT marketplaces don’t offer this kind of feature either, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listings.

OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. While you’re not able to buy or sell anything, you can still look through the options you’re interested in on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are for you to use You can also exchange your fiat money for cryptocurrency using these platforms. Nft Major Company

You can exchange your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and more!

Each of them has the option of exchange for ETH, which is the primary cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Because it is based using an ETH blockchain, wallets with a connection to the same network are suitable for this site.

Here is a list of various crypto wallets that which you can use with OpenSea:

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

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only, and the function to purchase cryptocurrency using the credit card. Nft Major Company

To learn more about it, you can check their FAQs to see an overview of how you can start and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:

Pros

  • Mobile apps available for iOS as well as Android.
  • Smart contracts are used for transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto world and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • You cannot buy or sell products via this mobile application.
  • Only supports cryptocurrency as its type of payment.
  • The use of a Crypto wallet is required for this marketplace.

Pricing

OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will easily recover that amount when you actively sell because there is no additional fee for it.

Frequently Asked Questions Nft Major Company

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 an ideal platform for artists who use the platform to market NFTs because of its zero gas costs and low commission fee rate you must pay.

You can browse and shop for a vast collection of digital items on the NFT marketplace and you must check it out!

Is OpenSea legit & safe?

The short answer is yes! OpenSea has been a trusted marketplace since it was founded at the end of 2018. Since its system is based on a blockchain, it is safe to declare that transactions are protected and secured.

Furthermore, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are secure.

How do I earn royalties from OpenSea?

Unfortunately, as an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is thought to be a reasonable amount compared to other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) can be commonly utilized on this website and numerous others to cater for more 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.

Which are the accepted payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can buy and sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal for the transaction.

Does OpenSea have a desktop or mobile app?

As we mentioned earlier there’s an official mobile app from OpenSea that is available for iOS and Android. Download it at their respective app store and you can start browsing through the collection right now!

A desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app you can manage multiple accounts and get alerts on any updates that affect your account from 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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