The cryptocurrency market is on the rise and you’re probably thinking where you can invest your crypto currency. Markets have popped up all over the internet, designed to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard about OpenSea before for a good reason. It’s one of the largest and leading marketplaces among 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 what NFTs you can view!
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 Pipe Size
The goal of OpenSea was to simply provide a platform/marketplace for artists to upload commissions without any extra fees. It also has additional functions that let you sell your work without having to deal with many issues.
For registration, you won’t have to worry about giving any personal information about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used to carry out the majority of processes. It also operates using the Polygon blockchain to ensure low-cost and quicker trading.
With these two types of blockchains, you can choose which one you would like to upload your NFT on as seller. This ensures the safety of your NFT and those who wish to buy it. All transactions will be made using this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name to official art from an artist you admire. Anyone can be a seller, but it takes time for anyone to be an established one.
There’s a huge selection in the collection at OpenSea, and you can also be a part of the collection! You can start your own market here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that the majority of young people have heard of it but aren’t exactly sure what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the new things you can purchase your cryptocurrency is an NFT. The NFT is a token that is non-fungible that is very individual and cannot be replaced. It can be an item of any rareness like authentic baseball cards, or a rare vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell online. More straightforwardly, you can just consider an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. You are calling ownership over that particular token/item that you posted to the market place, but putting it up for sale. Typically, this is official when you have filled in all the necessary information about the NFT and finally add it on the market.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and making a collection to begin! Complete the correct and correct information regarding your NFT and select the type of settings you want to use it with (e.g., blockchain, payments tokens). Once that’s all done then you’re able to upload it if it fits the limit of 100MB.
It is possible to wait and see how transactions progress from now on to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment, you’re probably wondering which kind of NFT you shop for here and what kind of NFTs you can also sell if you decide to go that route. The type of NFT it isn’t limited since there’s a broad range of options for how to approach it.
It is possible to sell trade cards, digital goods game assets, domain names, and also physical goods! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the other options. There are no gas costs when you utilize this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you sell because you won’t have to spend on additional fees.
Not many NFT marketplaces offer this feature, and it can be a fantastic way to receive high profit from your collection.
Referral Program
A Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets that offer benefits by referring a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t offer the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
The mobile apps of OpenSea are available on both iOS as well as Android. Even though you can’t buy or sell something, you can at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you to convert your fiat money into cryptocurrency on these platforms. Nft Pipe Size
You can exchange your fiat money via credit card or Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option of converting them into ETH which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of crypto, wallets are still more compatible with it than other. Since it is built on the ETH blockchain, wallets with a connection to this network are appropriate for this website.
Here’s a list different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency using a credit card. Nft Pipe Size
To know more about it You can go through their FAQs to get a rundown of how you can start and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- You cannot buy or sell products through this mobile application.
- Only supports cryptocurrency as its method of payment.
- An Crypto wallet is required for this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll quickly recover this amount if you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Pipe Size
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance for selling their artwork online to receive cryptocurrency as their form of payment. It’s a great platform for artists using for selling NFTs due to its low gas fees and low commission fee rate that you have to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace, so you should go through it!
Is OpenSea legit & safe?
Answer: Yes! OpenSea has been a reliable marketplace since its inception in the year 2018. Since its system is built on blockchain technology that is secure, you can declare that transactions are protected and secured.
Additionally, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or collection that you have uploaded to assure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are secure.
How can I earn royalties on OpenSea?
However, as an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is believed to be quite low in comparison with the other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been commonly used on this site and other sites to provide more cryptocurrency users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned there’s an official mobile application from OpenSea for both iOS as well as Android. Download it at their respective app store, and you can start exploring the collection right now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
