The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up across the digital web designed to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re interested in crypto, you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
Get on board, and let’s see the possibilities of OpenSea and also see what NFTs you can view!
Before you continue, 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.
OpenSea as an NFT Marketplace Nft Marketing Agency
The goal for OpenSea was to simply provide artists with a marketplace/platform to upload their commissions, without having to pay any additional charges. It has more functions that let you sell your art without too many problems.
When it comes to registration, you won’t have to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used to carry out the majority of processes. It also operates on the Polygon blockchain to ensure low-cost and quicker trading.
With these two types of blockchains, you can choose which one you’d like to transfer your NFT to as seller. This will ensure the security of your NFT as well as the people who want to buy it. Every transaction will be conducted by using the blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist you admire. Anyone can sell however it takes some time before anyone can become an established seller.
There are a variety of NFTs of NFTs available at OpenSea, and you can also be a part of the collection! You can start your own market there, and also find NFTs that you would like to purchase yourself.
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 the internet that a lot of millennials have heard of 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 the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. The NFT is a token that is non-fungible that is unique and can’t be substituted. It could be a piece of rarity like mint-condition baseball trading cards or a uncommon vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible object that you sell online. In simpler terms, you could simply think of the NFT as a digital item which is only paid in cryptocurrency.
Minting is like calling dibs on your own NFTs. It is a way of claiming ownership over that particular token/item that you posted to the marketplace, and offering it for sale. Typically, this is official when you have filled in the correct information about the NFT and then add it on the market.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and making a collection to begin! Complete the correct and complete information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain and money transfer tokens). After that then you’re able to upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how transactions progress from now on to see whether OpenSea is the best marketplace for you.
What NFTs can you find here?
At this point you’re probably thinking about which kind of NFT be purchased here and what you can also sell if you decide to pursue that route. The kind of NFT that you can purchase is unlimited since there’s a broad range of how you can go about it.
You can be selling digital items, trading cards, game assets, domain names, and even physical assets! Explore what you believe can yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what differentiates OpenSea from the others. There are zero gas fees when you use this feature when you make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you won’t need to spend on additional fees.
There aren’t many NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your NFT collection.
This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets there are advantages by referring your friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site, you’ll receive 2.50% of the sale amount, letting you make more money from this act.
Other NFT marketplaces don’t have this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.
There is an OpenSea mobile application, however it is mainly used to browse through the marketplace. You can’t buy or sell anything as you scroll through the list.
The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. While you’re not able to buy or sell things, you can at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available to you, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Marketing Agency
You can exchange your fiat currency using a the credit card, or Paypal on these reliable websites for cryptocurrency:
- Bittrex and other things!
Each of them has the option of exchange for ETH which is the most common cryptocurrency payment option in OpenSea.
Although OpenSea is an NFT marketplace that is open to all types of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built around the ETH blockchain, all wallets with a connection to this network are appropriate for this site.
Here is a list of several crypto wallets you can utilize in OpenSea:
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Nft Marketing Agency
To learn more about it, you can check their FAQs to see an overview of how you can start and what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like all crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto market and NFTs.
- Allows royalties of only up to 10% for artists (low royalties).
- You cannot buy or sell products on this mobile application.
- Only accepts cryptocurrency as a form of payment.
- A Crypto wallet is required to use this marketplace.
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. But overall, you can easily recover that amount when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft Marketing Agency
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs due to its low gas fees and the low commission rate you must pay.
You can browse and shop for an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea real and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was founded at the end of the year 2018. Since its system is built on blockchain technology, it is safe to declare that transactions are secure and safe.
Furthermore as a seller you’ll be verified when you have built up your credibility. A blue checkmark will appear next to your account or collection you uploaded to reassure any customer. The OpenSea team reviews regularly the content to ensure users are secure.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you’ll get only 10 percent of the royalties when you have uploaded the NFT. This is considered to be reasonably low compared to other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is widely used on this site as well as numerous others to cater for more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
These are the core cryptocurrencies you can utilize for OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier There is an official mobile app from OpenSea for both iOS and Android. You can download it through their app store, and then you can begin browsing through the collection right now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. On the desktop app you are able to 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/).