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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto coins. Markets have popped up across the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.

Now hop aboard, and let’s explore what you can do with OpenSea, along with checking what NFTs you can view!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Myers To Gulf Bay Anesthesiology

The goal of OpenSea was to offer artists with a marketplace/platform to easily upload their commissions without any extra costs. It also has additional functions that allow you to sell your art without too many issues.

In terms of the registration process, you don’t have to worry about giving too many details about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for most processes. It also functions with the Polygon blockchain to ensure the lowest cost and speediest trading.

With these two kinds of blockchains you can pick which one you’d like to upload your NFT on as seller. This is to ensure the security of your NFT, along with those who would like to buy it. All transactions will be made using this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to an official artwork from an artist you admire. Anyone can sell, but it takes time for anyone to be a reputable one.

There is a wide variety from the selection of NFTs available at OpenSea and you can also be a part of that! You can set up your own personal market here, along with finding NFTs you’d like to buy yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the crypto market, the term “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t sure exactly what it is. Let’s take a look at what NFT is for any beginners in cryptocurrency.

One of the new things you can buy is an NFT. A NFT is a non-fungible token that is very unique and can’t be changed. It can be an item of any rareness, such as mint-condition baseball trading cards or a unique vinyl album.

There’s no limit on what an NFT can be as it’s a non-fungible object that you sell on the internet. More straightforwardly, you can simply think of as an NFT as a digital item that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. You’re claiming the owner of the item or token that you have uploaded to the market place, but you’re offering it for sale. Usually, this is recognized once you fill out the correct information about the NFT and upload it to the marketplace.

On OpenSea it’s a straightforward 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 choose what kind of settings you’d like to use to use it with (e.g., blockchain, payments tokens). After you’ve completed the process then you’re able to upload it if it fits the limit of 100MB.

You can watch and see the way transactions are handled from now to see if OpenSea is the marketplace for you.

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What NFTs can you get here?

So, at this point, you’re probably wondering the kind of NFTs you shop for here, and what you could also sell if you choose to go down that path. The type of NFT it can be isn’t limited since there’s a broad range of how you can approach it.

You can be selling trade cards, digital goods game assets domain names, even physical assets! Consider what you believe will bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that differentiates OpenSea from other companies. There are zero gas fees for using this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you begin selling since you won’t need to spend on extra fees.

There aren’t many NFT marketplaces offer this feature, so this is great for you to earn a high return from your portfolio.

Referral Program

The Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer advantages by referring someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which allows you to earn more cash from this act.

Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea has over them.

cryptocurrency-iphone

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listings.

The mobile apps of OpenSea are available for both iOS in addition to Android. While you’re not able to buy or sell things, you can at least explore the products you’re looking for on the move.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are to you You can also trade your fiat currency for cryptocurrency on these platforms. Nft Myers To Gulf Bay Anesthesiology

You can convert your fiat currency using a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:

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

Each of them has the option of converting them into ETH which is the most common crypto payment in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, the wallets still more compatible with it than other. Because it is based using the ETH blockchain, any wallets which are part of that network will be suitable for this site.

Here’s a list various crypto wallets that which you can use with OpenSea:

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

*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only and the ability to purchase cryptocurrency with the credit card. Nft Myers To Gulf Bay Anesthesiology

For more information about the service to learn more, check out their FAQs to get the steps you can begin and which other wallets work with OpenSea.

ethereum-coins

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and cons here:

Pros

  • Mobile apps 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.

Cons

  • Allows royalty rates of 10% to artists (low royalty rates).
  • You cannot buy or sell products on the mobile app.
  • Only accepts cryptocurrency as a form of payment.
  • An Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. However, overall, you will quickly regain that when you sell regularly since there’s no extra charge for it.

Frequently Asked Questions Nft Myers To Gulf Bay Anesthesiology

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online to receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use for selling NFTs because of its zero gas costs and low commission fees which you are required to pay.

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

Is OpenSea legit & is it safe?

The short answer is yes! OpenSea is a reputable marketplace since its inception at the end of the year 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are safe and secure.

In addition, as a seller, you can become verified once you have built up your credibility. A blue checkmark will appear on your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the contents to ensure users are protected.

How can I earn royalties on OpenSea?

However, as an artist, you will be paid only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared against other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) is widely used on this site as well as other sites to provide more crypto users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use to access OpenSea.

Which are the accepted payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop or mobile application?

As previously mentioned there’s an official mobile application from OpenSea for both iOS and Android. You can download it through their app store and begin browsing through the collection right now!

A desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application, you can manage multiple accounts as well as 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/).

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