The crypto currency market is in a boom right now and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up across the web that allow users to buy and sell NFTs using cryptocurrency! OpenSea is among them and is worth looking into.
If you’re interested in crypto, you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to check out 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 of OpenSea.
OpenSea as an NFT Marketplace Nft Minting
The aim for OpenSea was to offer an online marketplace for artists to easily upload their commissions without any extra charges. It has more functions that let you sell your art without too many problems.
For registration, you don’t need to give too many details about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It also operates using the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two types of blockchains you can pick which one you’d like to upload your NFT on as a seller. This will ensure the security of your NFT as well as those who would like to purchase it. All transactions are made by using the blockchain, and you must think about where to 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. It is possible to purchase anything just a domain name, to a piece of art from an artist you admire. Anyone can be a seller however it takes a while for anyone to become an established one.
There is a wide variety of NFTs available at OpenSea and you could become a part of that! You can start your own personal market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that the majority of young people are familiar with it but aren’t exactly sure what it is. 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 buy can be an NFT. The NFT is a non-fungible token that is unique and can’t be substituted. This can be a piece of rareness, such as authentic baseball cards, or a rare vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible object that you can sell on the internet. In simpler terms, you could simply think of the NFT to be a type of digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs on your own 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 then add it on the market.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and create a collection! Fill out the proper and correct information regarding your NFT and then select what type of settings you’d like to use for it (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 watch and see how transactions progress from now on to see if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably asking yourself the kind of NFTs can be found here, and what you could sell should you decide to go that route. The type of NFT it is unlimited because there’s a wide range of ways to approach it.
You could be selling trade cards, digital goods games, domain names, and even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that separates OpenSea from other companies. There are zero gas fees when you utilize this feature to mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on any additional charges.
Not many NFT marketplaces offer this feature, so this is a great way to earn a high return from your NFT collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces there are benefits when you refer your friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50% of the sale amount, letting you earn more money from this act.
Other NFT marketplaces don’t offer this feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse the marketplace. You can’t buy or sell anything as you browse through the listing.
The mobile apps from OpenSea are accessible for both 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
Numerous cryptocurrency exchange platforms are available to you You can also exchange your fiat money for cryptocurrency through these platforms. Nft Minting
You can convert your fiat currency using a credit card or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of these have the option of converting them into ETH, which is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than others. Since it is built using an ETH blockchain, wallets with a connection to the same network are suitable for this site.
Here’s a list various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, only mobile usage and the ability to purchase cryptocurrency using a credit card. Nft Minting
To learn more about it, you can check their FAQs to see an overview of how you can start and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty).
- Cannot buy or sell via our mobile apps.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto account is needed for this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly recover this amount if you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Nft Minting
What is OpenSea?
OpenSea is 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 an ideal platform for artists using the platform to market NFTs because of its zero cost of gas and the low commission rate that you have to pay.
You can browse and shop for the vast array of digital items on the NFT marketplace, so you should check it out!
Is OpenSea legit & safe?
Answer: Yes! OpenSea is a reputable marketplace since it was founded at the end of the year 2018. Because its system is built on a blockchain, it is safe to say that your transactions are secure and safe.
Furthermore as a seller you can become verified once you build up your reputation. A blue checkmark will appear to your account or any collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.
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 believed to be reasonably low compared to others NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) has been widely used on this site as well as many others to accommodate the increasing number of cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to access OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before There is an official mobile application from OpenSea available for both iOS as well as Android. You can download it through their app store and you can start browsing through the collection right now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application, you can manage multiple accounts and get alerts on any updates that affect your account when you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
