Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto coins. Markets have popped up across the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea is among them and is worth a look.
If you’re interested in crypto you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Get on board, and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!
Before you continue, 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 the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft National Foundation Transplants
The aim to create OpenSea was to offer artists with a marketplace/platform to upload commissions with no additional fees. It also has additional functions which allow you to market your art without too many problems.
In terms of registration, you won’t have to give all of your personal details. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for the majority of transactions. It also functions on the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains that are available you can pick which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT as well as the people who want to purchase it. All transactions are made along with this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name to an official artwork by an artist you admire. Anyone can become a seller, but it takes some time for anyone to be an established 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 create your own marketplace 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 the term “NFT” has been going around for so long on internet that many millennials have heard of it but not exactly sure what it is. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can buy can be an NFT. The NFT is a token that is non-fungible that is very exclusive and cannot be substituted. This can be an item of rareness like mint-condition baseball trading cards or rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling online. It is simpler to just consider the NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You are calling the owner of the item or token you uploaded on market, as you’re selling it. Usually, this becomes official when you have filled in the proper information regarding the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and simply making a collection to begin! Complete the correct and complete information about your NFT and choose what kind of settings you’d like to use it with (e.g. blockchain and payment tokens). Once that’s all done you are able to upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how the transactions go from now on to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment, you’re probably wondering which kind of NFT can be purchased here and what kind of NFTs you can also sell if you choose to go down that path. The kind of NFT it isn’t limited because there’s a wide range of ways to approach it.
It is possible to sell trade cards, digital goods, game assets domain names, even physical assets! Find out what you think will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that separates OpenSea from other companies. There are zero gas fees for using this feature to create and market NFTs. This means you’ll be able to make the highest profits once you start selling because you won’t need to spend on any additional charges.
Very few NFT marketplaces provide this feature, and it is great for you to make a huge profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces there are rewards when you refer your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there, you’ll receive 2.50% of the sale amount, which allows you to earn more money from this act.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible on the two platforms of iOS and Android. Although you aren’t able to purchase or sell something, you can explore the products 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 on these platforms. Nft National Foundation Transplants
You can exchange your fiat currency using a credit card or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of them have the option to exchange for ETH that is the most common cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all types of cryptocurrency, the wallets still more compatible with it than other. Since it is built mainly on an ETH blockchain, all wallets with a connection to this network are appropriate for this website.
Here’s a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage and the ability to buy cryptocurrency using the credit card. Nft National Foundation Transplants
For more information about the service You can go through their FAQs for the steps you can start and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- It is not possible to buy or sell items via this mobile application.
- Only supports cryptocurrency as its form of payment.
- A Crypto account is needed to access this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins 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 are actively selling since there is no additional fee for it.
Frequently Asked Questions Nft National Foundation Transplants
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as a method of payment. It’s an excellent platform for artists who use for selling NFTs because of its zero cost of gas and low commission fees which you are required to pay.
You can shop and browse an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a trusted marketplace since its inception in the year of 2018. Since its system is built on a blockchain, it is safe to claim that your transactions are safe and secure.
In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned to your account or the collection that you have uploaded to assure any customer. OpenSea’s team regularly reviews the content to ensure users are safe.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is considered to be a reasonable amount compared against other NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) can be frequently used on this site as well as many others to accommodate more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize to use OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can buy and trade cryptocurrency using secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile application?
As previously mentioned There is an official mobile application from OpenSea that is available for iOS and Android. Install it from their app store, and begin exploring the collection now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application 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/).
