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Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto coins. Markets have popped up all over the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth a look.

If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the largest and most popular marketplaces among users of cryptocurrency due to its safety and speedy transactions.

Get on board, and let’s see what you can do with OpenSea, along with checking the NFTs that you can see!

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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 the article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Office Gmbh Karben

The purpose to create OpenSea was to provide artists with a marketplace/platform to upload commissions without any extra fees. It also has additional functions that allow you to sell your artwork without any problems.

For registration, you don’t need to provide any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that and without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It also functions with the Polygon blockchain, which ensures lower costs and faster trading.

With these two kinds of blockchains that are available you can pick which one you want to upload your NFT on as an seller. This ensures the safety of your NFT and those who wish to purchase it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an online shopping mall that is endless 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 by an artist you admire. Anyone can become a seller however it takes time for anyone to be an established seller.

There is a wide variety from the selection on OpenSea, and you can become a part of this! You can set up your own personal market on this site, as well as find NFTs you’d like to buy for yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent advancement for the crypto industry, the term “NFT” has been going around for so long on the internet that many 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 newest things you can purchase your cryptocurrency is an NFT. An NFT is a non-fungible currency that is very unique and can’t be changed. This can be an item of rareness like rare baseball trading cards in mint condition, or a rare vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible item that you sell on the internet. It is simpler to simply think of the NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots to your NFTs. It is a way of claiming ownership over that particular token/item that you posted to the market place, but putting it up for sale. Usually, this becomes official once you fill out the proper information regarding the NFT and upload it to the marketplace.

On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and then create a collection! Fill out the proper and correct information regarding your NFT and then select what type of settings you want to use it with (e.g. blockchain or payment tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.

You can watch and see how transactions progress from now to see if OpenSea is the marketplace for you.

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What NFTs can you find here?

So, at this point you’re probably thinking about which kind of NFT you shop for here and what kind of NFTs you can also sell if you choose to pursue that route. The type of NFT it can be is unlimited because there’s a wide range of options for how to do it.

You could be selling digital items, trading cards, game assets, domain names, and even physical assets! Consider what you believe will yield the most profit by experimenting with OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that separates OpenSea from other companies. There’s no cost for gas when you utilize this feature when you make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on extra fees.

Very few NFT marketplaces offer this feature, which is why this can be a fantastic way to earn a high return from your NFT collection.

Referral Program

The Referral Program is another distinctive feature of OpenSea to admire. 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 percent of the sales amount, letting you earn more cash through this action.

Other NFT marketplaces don’t offer this kind of feature either This is a further benefit OpenSea has over the other marketplaces.

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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 items as you browse through the listings.

OpenSea’s mobile apps are available for both iOS and Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available at your disposal You can also convert your fiat money into cryptocurrency using these platforms. Nft Office Gmbh Karben

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

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

All of these have the option to exchange for ETH which is the most common crypto payment in OpenSea.

Crypto Wallets

Although 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 on the ETH blockchain, wallets which are part of this network are appropriate for the site.

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

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, only mobile usage and the ability to buy cryptocurrency using the credit card. Nft Office Gmbh Karben

To know more about it You can go through their FAQs for the steps you can get started and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:

Pros

  • Mobile apps available for iOS or Android.
  • Smart contracts are used for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalties).
  • It is not possible to buy or sell items via this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • An Crypto account is needed for this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will quickly recover this amount if you sell regularly since there is no additional fee for it.

Frequently Asked Questions Nft Office Gmbh Karben

What is OpenSea?

OpenSea is an NFT marketplace that seeks to offer artists a way to sell their works online, and to accept cryptocurrency as their form of payment. It’s a great platform for artists who use it to sell NFTs due to its low cost of gas and low commission fee rate that you have to pay.

You can browse and purchase a vast collection of digital items on the NFT marketplace and you must go through it!

Is OpenSea real and safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was established at the end of the year of 2018. Since its system is built on a blockchain and is secured, it is safe to declare that transactions are protected and secured.

In addition as a seller you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or the collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is thought to be a reasonable amount compared to others NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) can be frequently used on this site as well as numerous others to cater for many more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can utilize to access OpenSea.

What are the payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal for the transaction.

Does OpenSea has a mobile or desktop application?

As we mentioned earlier, there is definitely an official mobile app by OpenSea for both iOS and Android. Download it at their respective app store and then you can begin exploring the collection right now!

The desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts and get notifications on updates regarding 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/).

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