The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea can be one and is worth checking out.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
Get on board, and let’s explore the possibilities of OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Middleton
The aim of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions, without having to pay any additional charges. It has more functions that let you sell your artwork without any issues.
For the registration process, you don’t have to provide any personal information about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for most processes. It is also based using the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains that are available you can pick which one you want to publish your NFT as seller. This ensures the safety of your NFT, along with the people who want to purchase it. Every transaction will be conducted using this blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist that you admire. Anyone can sell, but it takes some time for anyone to become a reputable one.
There’s a huge selection in the collection on OpenSea and you can also be a part of that! You can set up your own personal market here, along with finding NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t exactly sure what it is. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. An NFT is a non-fungible currency which is extremely individual and cannot be changed. It can be a piece of rareness like rare baseball trading cards in mint condition or uncommon vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible item that you sell on the internet. It is simpler to just imagine as an NFT being a virtual item paid via 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 you uploaded on the market place, but you’re selling it. Typically, this is official when you have filled in the correct information about the NFT and finally upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and then create a collection! Fill out the proper and complete information about your NFT and choose what kind of settings you’d like to use 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 watch and see the way transactions are handled from now on to see whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably thinking about the kind of NFTs can be purchased here and what you can sell should you decide to pursue that route. The type of NFT that you can purchase is indefinite because there’s a wide range of options for how to go about it.
It is possible to sell digital items, 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
This Collection Manager function is the one that differentiates OpenSea from other companies. There are zero gas fees when you use this feature to create and market NFTs. This means you’ll receive the maximum profits when you begin selling since you don’t need to pay on any additional charges.
Very few NFT marketplaces provide this feature, so this is a great way to receive high profit from your NFT collection.
Referral Program
The Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces that offer benefits when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which allows you to make more money through this action.
Other NFT marketplaces don’t offer the same feature 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 to browse the marketplace. It isn’t able to purchase or sell items as you scroll through the list.
The mobile apps of OpenSea are available on both iOS and Android. Although you aren’t able to purchase or sell things, you can at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are to you, and you can convert your fiat money into cryptocurrency on these platforms. Nft Middleton
You can exchange your fiat money via your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option of converting them into ETH which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based around the ETH blockchain, all wallets that share the same network are suitable for this website.
Here is a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, only mobile usage, and the function to buy cryptocurrency using the credit card. Nft Middleton
For more information about the service to learn more, check out their FAQs to get a rundown of how you can get started and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them 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 utilized 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 royalty rates of up to 10% for artists (low royalties).
- You cannot buy or sell products on the mobile app.
- Only supports cryptocurrency as its method of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this 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 Middleton
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance to market their work online and receive cryptocurrency as a form of payment. It’s an ideal platform for artists using for selling NFTs because of its zero gas fees and low commission fee rate you must pay.
You can browse and purchase the vast array of digital items on the NFT marketplace and you must check it out!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year of 2018. Since its system is based on a blockchain, it is safe to claim that your transactions are secure and safe.
Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark is placed on your account or collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure that users are safe.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is thought to be reasonably low compared against other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) is frequently used on this site as well as many others to accommodate the increasing number of cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to use OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea has a mobile or desktop app?
As previously mentioned there’s an official mobile app from OpenSea available for both iOS or Android. Download it at their respective app store, and begin exploring the collection now!
There is also a desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app you can manage multiple accounts as well as receive notifications about updates to 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/).
