The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s see the possibilities of OpenSea and also see the NFTs available to view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Neurofeedback
The goal for OpenSea was to simply provide artists with a marketplace/platform to upload their commissions, without having to pay any additional fees. It also has additional functions which allow you to market your art without too many difficulties.
For registration, you won’t have to worry about giving too many details about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It also operates using the Polygon blockchain to ensure low-cost and quicker trading.
There are two types of blockchains you can pick which one you would like to transfer your NFT to as seller. This ensures the safety of your NFT, along with the people who want to purchase it. All transactions will be 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 mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name, to a piece of art from an artist you admire. Anyone can become a seller however, it takes some time for anyone to be an established seller.
There are a variety of NFTs of NFTs available on OpenSea and you can also be a part of this! You can start your own marketplace here, along with finding NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but not exactly sure what it actually means. 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 latest ways that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible token that is exclusive and cannot be changed. This can be a piece of rareness like rare baseball trading cards in mint condition or unique vinyl album.
There is no limit to what an NFT could be, since it’s a non-fungible item that you sell online. In simpler terms, you could simply think of an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You are calling ownership over that particular token/item you uploaded on the market place, but you’re offering it for sale. Typically, this is official once you fill out the proper information regarding the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mint your NFTs by going to the store and making a collection to begin! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain, payment tokens). Once that’s all done you are able to upload it, if it’s within the limit of 100MB.
You can watch and see how transactions progress from now to see whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering which kind of NFT can you shop for here and what kind of NFTs you can sell should you decide to pursue that route. The type of NFT it can be is indefinite since there’s a broad range of options for how to do it.
You can be selling trade cards, digital goods games domain names, also physical goods! Consider what you believe will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what separates OpenSea from other companies. There’s no cost for gas when you utilize this feature to create and market NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on extra fees.
Not many NFT marketplaces provide this feature, so this is a great way to earn a high return from your NFT collection.
Referral Program
A Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets that offer benefits by referring a friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t offer this kind of feature either, 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 application, however it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
OpenSea’s mobile apps are available for both iOS in addition to Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use, and you can exchange your fiat money for cryptocurrency through these platforms. Nft Neurofeedback
You can swap your fiat money via the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of these have the option of exchange for ETH, which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, the wallets nonetheless more compatible than other. Because it is based on the ETH blockchain, any wallets which are part of the same network are suitable for this website.
Here’s a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage, and the function to purchase cryptocurrency using credit cards. Nft Neurofeedback
To learn more about it to learn more, check out their FAQs to get a rundown of how you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Available as mobile apps for iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalty).
- You cannot buy or sell products via our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is available to anyone 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. In the end, you’ll easily recover that amount when you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft Neurofeedback
What is OpenSea?
OpenSea is an NFT marketplace that is designed to give artists a chance to sell their works online to receive cryptocurrency as a form of payment. It’s a great option for artists who want to use it to sell NFTs because of its zero cost of gas and low commission fee rate which you are required to pay.
You can browse and purchase the vast array of digital goods in this NFT marketplace and you must go through it!
Is OpenSea real and safe?
Answer: Yes! OpenSea is a reputable marketplace since its inception at the end of 2018. Because its system is built on blockchain technology that is secure, you can declare that transactions are secure and safe.
Furthermore as a seller you can become verified once you build up your reputation. A blue checkmark is placed to your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are safe.
How do I earn royalties from OpenSea?
As an artist, you can get only 10 percent of the royalties after you have uploaded the NFT. This is thought to be a reasonable amount compared with the other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) is frequently used on this site as well as many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use for OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned there’s an official mobile application from OpenSea for both iOS and Android. Install it from their app store and begin exploring the collection right now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts as well as receive 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/).
