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Cryptocurrency is booming right now and you’re probably wondering where to invest your crypto currency. Markets have popped up all over the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth looking into.

If you’re interested in crypto, you’ve likely heard of OpenSea prior to this for a valid reason. It’s one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea as well as examining 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 review. After, you will want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Pay Per View

The goal for OpenSea was to provide an online marketplace for artists to upload their commissions without any extra fees. It has more functions that allow you to sell your art without too many issues.

When it comes to registration, you won’t have to worry about giving all of your personal details. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology and is used for most processes. It also functions with the Polygon blockchain, which allows for lower costs and faster trading.

There are two types of blockchains that are 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 as well as the people who want to purchase it. All transactions will be made by using the blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall 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 become a reputable one.

There is a wide variety of NFTs available at OpenSea, and you can become a part of that! You can start your own personal market on this site, as well as find NFTs you want to purchase yourself.

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What is an NFT?

A recent change in the cryptocurrency industry the term “NFT” has been going around so long on the internet that many millennials have heard of it but not exactly sure what it is. 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 includes an NFT. A NFT is a non-fungible currency that is unique and can’t be substituted. This can be an item of rareness like mint-condition baseball trading cards or a uncommon vinyl record.

There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling online. It is simpler to simply imagine an NFT being a virtual item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs to your NFTs. You’re claiming ownership over that particular token/item that you have uploaded to the marketplace, and selling it. Usually, this is recognized after you fill in the proper information regarding the NFT and finally 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 simply create a collection! Complete the correct and correct information regarding your NFT and choose what kind of settings you’d like to use for it (e.g., blockchain, money transfer tokens). Once that’s all done you are able to upload it if it fits the 100 MB limit.

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

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What NFTs are available here?

In this moment you’re probably asking yourself which kind of NFT can you shop for here and what kind of NFTs you can sell should you decide to pursue that route. The kind of NFT it can be is indefinite since there’s a broad range of options for how to go about it.

You can be selling digital items, trading cards game assets domain names, some physical items! Consider what you believe will reap the best rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that differentiates OpenSea from the other options. There are zero gas fees 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 sell because you won’t have to spend on additional fees.

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

Referral Program

This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets, you can receive rewards by referring your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can earn more money by this method.

Other NFT marketplaces do not have the same feature This is a further benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. You can’t buy or sell items as you browse through the listings.

The mobile apps of OpenSea are available for both iOS as well as Android. Even though you can’t buy or sell something, you can explore the products you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are at your disposal You can also trade your fiat currency for cryptocurrency through these platforms. Nft Pay Per View

You can convert the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and other things!

Each of them has the option of converting them into ETH which is the standard cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all kinds of crypto, wallets are nevertheless more compatible than others. Because it is based around an ETH blockchain, all wallets which are part of that network will be suitable for the site.

Here is a list of various crypto wallets that you can use in OpenSea:

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage and the ability to purchase cryptocurrency using the credit card. Nft Pay Per View

To know more about it, you can check their FAQs for an overview of how you can start and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps are available for iOS or Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • You cannot buy or sell products via our mobile apps.
  • Only supports cryptocurrency as its method of payment.
  • An Crypto wallet is required for this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly regain that when you actively sell because there’s no extra charge for it.

Frequently Asked Questions Nft Pay Per View

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to sell their works online to receive cryptocurrency as a form of payment. It’s a great platform for artists using for selling NFTs due to its no gas costs and low commission fees that you have to pay.

You can browse and shop for a vast collection of digital products on this NFT marketplace which is why you should definitely check it out!

Is OpenSea real and is it safe?

The short answer is yes! OpenSea is a reputable marketplace since it was founded at the end of 2018. Since its system is built on blockchain technology 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 build up your reputation. A blue checkmark is placed to your account or collection you uploaded to reassure every customer. The team at OpenSea regularly checks the contents to ensure 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 when you upload the NFT. This is believed to be quite low in comparison with others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) is widely utilized on this website and other sites to provide many more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

Which are the accepted payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea have a desktop or mobile app?

As mentioned before There is an official mobile application from OpenSea available for both iOS as well as Android. Install it from their app store, and begin exploring the collection now!

A desktop application for OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts and receive 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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