The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them and is worth looking into.
If you’re interested in crypto you’ve probably heard about OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
Get on board, and let’s see what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, 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 our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Nova Softba;Ll
The aim of OpenSea was to offer a platform/marketplace for artists to upload commissions with no additional charges. It has more functions that allow you to sell your art without too many problems.
In terms of the registration process, you don’t have to provide all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It is also based using the Polygon blockchain, which allows for the lowest cost and speediest trading.
There are two types of blockchains available, you can choose which one you’d like to upload your NFT on as a seller. This will ensure the security of your NFT, along with those who wish to buy it. All transactions are made using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name, to a piece of art from an artist you admire. Anyone can sell however, it takes some time before anyone can become a reputable one.
There is a wide variety in the collection on OpenSea, and you can also be a part of that! You can create your own market there, and also find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that a lot of millennials are familiar with it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency is an NFT. A NFT is a token that is non-fungible that is individual and cannot be changed. It can be an item of any rareness, such as authentic baseball cards or a uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible object you’re selling online. It is simpler to simply imagine as an NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you posted to the market place, but offering it for sale. Usually, this is recognized once you fill out all the necessary information about the NFT and finally submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and making a collection to begin! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like for it (e.g., blockchain, payment tokens). After that, you can finally upload it, if it’s within the limit of 100MB.
You can wait and observe the way transactions are handled from here on out to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably thinking about the kind of NFTs can you shop for here and what kind of NFTs you can also sell if you choose to pursue that route. The kind of NFT it is unlimited since there’s a broad range of ways to approach it.
You can be selling digital items, trading cards, game assets domain names, also physical goods! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that separates OpenSea from other companies. There are zero gas fees when you use this feature when you mint and sell NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t have to spend on additional fees.
There aren’t many NFT marketplaces have this feature, so this is a great way to receive high profit from your NFT collection.
Referral Program
This Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets that offer rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50% of the sale amount, letting you make more money through this action.
Other NFT marketplaces do not have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listings.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still look through the options you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use You can also convert your fiat money into cryptocurrency using these platforms. Nft Nova Softba;Ll
You can swap your fiat money via credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
Each of them has the option of converting them into ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all types of crypto, wallets are nevertheless more compatible than others. Since it is built on the ETH blockchain, wallets with a connection to the same network are suitable for this site.
Here’s a list of different 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 has its own limitations like easy registration, only mobile usage as well as the capability to purchase cryptocurrency using a credit card. Nft Nova Softba;Ll
To know more about it to learn more, check out their FAQs to see the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Mobile apps available for iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties 10% for artists (low royalty rates).
- Cannot buy or sell via this mobile application.
- Only accepts cryptocurrency as a method 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. When you are selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you sell regularly since there is no additional fee for it.
Frequently Asked Questions Nft Nova Softba;Ll
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance to market their work online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use it to sell NFTs because of its zero gas costs and low commission fee rate that you have 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 it was established at the end of the year of 2018. Since the system it operates on 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 have built up your credibility. A blue checkmark will appear next to your account or collection that you have uploaded to assure any customer. OpenSea’s team regularly reviews the content to ensure that users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be quite low in comparison to the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) can be frequently utilized on this website and other sites to provide the increasing number of crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency through reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As previously mentioned, there is definitely an official mobile app from OpenSea that is available for iOS as well as Android. Download it at their respective app store and you can start browsing through the collection right now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
