Nft Paintings

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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto currency. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea can be one and is worth a look.

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

So, hop on board and discover the possibilities of OpenSea, along with checking the NFTs available to view!

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

OpenSea as an NFT Marketplace Nft Paintings

The purpose to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions without any extra fees. 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 on OpenSea! It’s as simple as that, without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency 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 also functions with the Polygon blockchain to ensure the lowest cost and speediest trading.

With these two kinds of blockchains available it is possible to choose which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT, along with those who would like to purchase it. All transactions are made using this blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything just a domain name, to a piece of art from an artist you admire. Anyone can sell, but it takes time for anyone to become an established one.

There are a variety of NFTs of NFTs available at OpenSea and you could join in with this! You can start your own marketplace here, along with finding NFTs you want to purchase for yourself.

Nft Paintings

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What is an NFT?

In a recent development for the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t sure exactly what it means. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.

One of the new things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible token which is extremely unique and can’t be changed. This can be an item of any rarity like rare baseball trading cards in mint condition, or a rare vinyl record.

There’s no limit on what an NFT can be since it’s a non-fungible object you’re selling on the internet. More straightforwardly, you can just think of an NFT as a digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots for your personal NFTs. It is a way of claiming the owner of the item or token that you posted to market, as you’re selling it. Typically, this is official when you have filled in the proper information regarding the NFT and then submit it for sale on.

On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and then create a collection! Complete the correct and correct information regarding your NFT and then select what type of settings you’d like to use it with (e.g., blockchain, money transfer tokens). After that you are able to upload it, if it’s within the 100 MB limit.

You can watch and see the way transactions are handled from now to determine if OpenSea is the marketplace for you.

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What NFTs can you find here?

At this point you’re probably asking yourself the kind of NFTs can you shop for here and what you can also sell if you choose to go down that path. The type of NFT that you can purchase is indefinite because there’s a wide range of options for how to go about it.

It is possible to sell trade cards, digital goods, game assets, domain names, and some physical items! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The collection Manager function is the one that separates OpenSea from the others. There are zero gas fees when you utilize this feature when you mint and sell NFTs. This means you’ll be able to make the highest profits once you begin selling since you won’t need to spend on additional fees.

Not many NFT marketplaces have this feature, and it can be a fantastic way to earn a high return from your collection.

Referral Program

A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are advantages by referring your friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the purchase amount, which allows you to earn more cash through this action.

Other NFT marketplaces do not have this feature This is a further benefit OpenSea has over them.

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Mobile Application

There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.

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

Crypto Exchange Platforms

Various crypto exchange platforms are for you to use You can also convert your fiat money into cryptocurrency on these platforms. Nft Paintings

You can swap the fiat currency you have with a the credit card, or Paypal through these trusted sites for cryptocurrency:

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

All of these have the option of converting them into ETH that is the standard crypto payment in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, the wallets nonetheless more compatible than other. Since it is built around the ETH blockchain, wallets with a connection to this network are appropriate for this site.

Here’s a list of different crypto wallets you can utilize in OpenSea:

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

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage, and the function to purchase cryptocurrency with a credit card. Nft Paintings

For more information about the service to learn more, check out their FAQs to see a rundown of how you can start and also what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets 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 and Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalties).
  • Cannot buy or sell via this mobile application.
  • Only accepts cryptocurrency as a method of payment.
  • The use of a Crypto account is needed to access this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly regain that when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Nft Paintings

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform for selling their artwork online to receive cryptocurrency as a form of payment. It’s an ideal platform for artists using the platform to market NFTs due to its low cost of gas and low commission fees which you are required to pay.

You can browse and shop for a vast collection 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 in 2018. Since its system is based on a blockchain that is secure, you can claim that your transactions are secure and safe.

In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark is placed to your account or the collection you uploaded to reassure any customer. The team at OpenSea regularly checks the content to ensure users are safe.

How do I earn royalties from OpenSea?

As an artist, you will be paid only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared to other NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) has been commonly used on this site and numerous others to cater for many more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use to use OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea has a mobile or desktop application?

As mentioned before there’s an official mobile app from OpenSea for both iOS as well as 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 can be downloaded via WebCatalog. In the desktop application, you can manage multiple accounts and receive notifications on updates regarding your account while 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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