The crypto currency market is in a boom right now and you’re probably thinking what you can do with your crypto currency. Markets have popped up all over the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth checking out.
If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s one of the biggest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.
So, hop on board and let’s explore the possibilities of OpenSea as well as examining 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 review. After, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Packs
The goal for OpenSea was to simply provide artists with a marketplace/platform to upload their commissions, without having to pay any additional costs. It also has additional functions that let you sell your art without too many issues.
For registration, you won’t have to worry about giving all of your personal details. All you have to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system and is used for the majority of transactions. It also operates using the Polygon blockchain to ensure the lowest cost and speediest trading.
There are two types of blockchains available, you can choose which one you would like to transfer your NFT to as an seller. This ensures the safety of your NFT as well as those who would like to purchase it. Every transaction will be conducted using this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can sell however, it takes a while for anyone to be an established seller.
There’s a huge selection of NFTs available on OpenSea, and you can also be a part of that! You can set up your own personal market on this site, as well as 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, the term “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it is. Let’s look at what an NFT is for any beginners in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency can be an NFT. An NFT is a non-fungible currency that is very exclusive and cannot be replaced. It can be an item of any rareness, such as rare baseball trading cards in mint condition or uncommon vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible object you’re selling on the internet. More straightforwardly, you can simply imagine an NFT as a digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. You’re claiming the ownership of the particular item you uploaded on market, as offering it for sale. Usually, this is recognized after you fill in the correct information about the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward process to mine your NFTs. All you have to do is visit the store and simply making a collection to begin! Complete the correct and accurate information about your NFT and then select what type of settings you want for it (e.g., blockchain, payments tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
It is possible to wait and see how transactions progress from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably asking yourself which kind of NFT you shop for here and what you can sell should you decide to pursue that route. The kind of NFT that you can purchase is indefinite since there’s a broad range of options for how to go about it.
You could be selling trade cards, digital goods game assets domain names, also physical goods! Explore what you believe can reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from other companies. There are zero gas fees when you use this feature when you create and market NFTs. This means you’ll receive the maximum profits when you begin selling since you don’t need to pay on additional fees.
Not many NFT marketplaces offer this feature, which is why this is a great way to make a huge profit from your collection.
Referral Program
The Referral Program is a different aspect of OpenSea to be admired. Like traditional online marketplaces that offer rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the purchase amount, which allows you to earn more money by this method.
Other NFT marketplaces don’t have this kind of feature either and that’s another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. You can’t buy or sell anything while you browse through the listings.
The mobile apps from OpenSea are accessible on the two platforms of iOS in addition to Android. Even though you can’t buy or sell things, you can look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency using these platforms. Nft Packs
You can exchange your fiat money via the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of converting them into ETH which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all kinds of cryptocurrency, wallets are still more compatible with it than other. Since it is built using the ETH blockchain, wallets which are part of the same network are suitable for this website.
Here’s a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage as well as the capability to purchase cryptocurrency with credit cards. Nft Packs
To know more about it to learn more, check out their FAQs for an overview of how you can get started and also what other crypto wallets are compatible 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 cons here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- Cannot buy or sell on the mobile app.
- Only supports cryptocurrency as its type of payment.
- A 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 percent commission fee that all buyers on the marketplace. However, overall, you will easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Packs
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to market their work online and receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to 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 shop for an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea legit & safe?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since its system is built on a blockchain and is secured, it is safe to say that your transactions are safe and secure.
Furthermore, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark will be assigned next to your account or collection you uploaded to reassure every customer. The team at OpenSea regularly checks the content to ensure users are protected.
How can I earn royalties from OpenSea?
As an artist, you can be paid only 10 percent of the royalties after you upload the NFT. This is considered to be quite low in comparison against other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) has been commonly used on this site and other sites to provide more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier There is an official mobile app by OpenSea for both iOS as well as Android. You can download it through their app store, and begin exploring the collection right now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts and 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/).
