Nft New York City

opensea-review

The crypto currency market is in a boom right now, and you’re probably wondering where you can invest your crypto coins. Marketplaces are popping up all over the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and rapid transactions.

So, hop on board and let’s see the possibilities of OpenSea as well as examining the NFTs that you can see!

open-sea-logo

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

OpenSea as an NFT Marketplace Nft New York City

The purpose of OpenSea was to provide an online marketplace for artists to easily upload their commissions, without having to pay any additional charges. It has more functions that allow you to sell your artwork without any issues.

When it comes to registration, you don’t need to give all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as easy as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized for most processes. It also operates on the Polygon blockchain, which allows for low-cost and quicker trading.

With these two types of blockchains available, you can choose which one you want to publish your NFT as an seller. This will ensure the security of your NFT, along with those who wish to purchase it. All transactions are made by using the blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can become a seller, but it takes time before anyone can become an established one.

There’s a huge selection from the selection on OpenSea and you can also be a part of this! You can create your own marketplace here, along with finding NFTs that you would like to purchase for yourself.

Nft New York City

> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the cryptocurrency industry,”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 have heard of it but not exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.

One of the newest things that you can buy with cryptocurrency can be an NFT. The NFT is a token that is non-fungible that is exclusive and cannot be replaced. This can be a piece of rareness like mint-condition baseball trading cards or uncommon vinyl record.

There’s no limit on what an NFT can be as it’s a non-fungible item that you can sell on the internet. In simpler terms, you could just think of an NFT to be a type of digital item paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You are calling ownership over that particular token/item that you have uploaded to the market place, but you’re selling it. Typically, this is official after you fill in the proper information regarding the NFT and then upload it to the marketplace.

On OpenSea, it’s a simple process to mine your NFTs by visiting the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain or money transfer tokens). Once that’s all done, you can finally upload it, if it’s within the 100 MB limit.

It is possible to wait and see how the transactions go from now to see if OpenSea is the best marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs are available here?

In this moment you’re probably thinking about which kind of NFT can you shop for here, and what you could also sell if you decide to go that route. The kind of NFT it isn’t limited since there’s a broad range of how you can approach it.

It is possible to sell trade cards, digital goods game assets domain names, also physical goods! Find out what you think will bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what differentiates OpenSea from the others. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you start selling because you don’t need to pay on additional fees.

There aren’t many NFT marketplaces have this feature, which is why this is a great way to make a huge profit from your portfolio.

Referral Program

The Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are benefits by referring a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll earn 2.50% of the sale amount, letting you earn more money through this action.

Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile application, however it’s mostly used 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 the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell something, you can look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available at your disposal You can also trade your fiat currency for cryptocurrency through these platforms. Nft New York City

You can exchange your fiat money via the 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 exchange for ETH that is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly using an ETH blockchain, all wallets that share that network will be suitable for this website.

Here’s a list of several crypto wallets which you can use with OpenSea:

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

Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, mobile-only usage, and the function to buy cryptocurrency using the credit card. Nft New York City

To know more about it, you can check their FAQs for an overview of how you can begin and which other wallets are compatible with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps available that are compatible with iOS and Android.
  • Smart contracts are used for transactions.
  • Security at the highest level with the help of blockchain.
  • Ideal for those who are new to the crypto market and NFTs.

Cons

  • Allows royalty rates of 10% for artists (low royalty rates).
  • Cannot buy or sell via the mobile app.
  • Only supports cryptocurrency as its type of payment.
  • An Crypto account is needed to access this marketplace.

Pricing

OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Nft New York City

What is OpenSea?

OpenSea is an NFT marketplace that aims to offer artists a way to sell their works online and receive cryptocurrency as their form of payment. It’s an ideal platform for artists using it to sell NFTs due to its no gas fees and low commission fees that you have to pay.

You can browse and purchase a vast collection of digital items on the NFT marketplace which is why you should definitely check it out!

Is OpenSea real and safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year 2018. Because its system is built on blockchain technology and is secured, it is safe to claim that your transactions are protected and secured.

Furthermore, as a seller, you will be verified after you have built up your credibility. A blue checkmark will appear next to your account or any collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.

How do I earn royalties from OpenSea?

As an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is believed to be reasonably low compared with others NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) can be frequently used on this site and numerous others to cater for many more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the transaction.

Does OpenSea have a desktop or mobile application?

As mentioned before, there is definitely an official mobile app from OpenSea for both iOS or Android. You can download it through their app store and then you can begin exploring the collection right now!

There is also a desktop application for OpenSea that can be downloaded through WebCatalog. With 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/).

block-chain

> > Click Here to Explore OpenSea < <

error: Content is protected !!