The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto coins. Marketplaces are popping up all over the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea can be one and is worth a look.
If you’re interested in crypto you’ve probably heard of OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
Now hop aboard, and let’s explore what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Pump
The goal of OpenSea was to offer artists with a marketplace/platform to upload their commissions without any extra fees. It has more functions that allow you to sell your art without too many problems.
When it comes to the registration process, you don’t have to provide too many details about yourself. All you have to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that, without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It is also based using the Polygon blockchain, which allows for lower costs and faster trading.
There are two types of blockchains it is possible to choose which one you want to upload your NFT on as seller. This is to ensure the security of your NFT and those who wish to purchase it. Every transaction will be conducted by using the blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall 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 become an established seller.
There is a wide variety from the selection at OpenSea and you could become a part of that! You can start your own personal market here, along with finding NFTs you want to purchase 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 exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. A NFT is a non-fungible currency that is exclusive and cannot be substituted. It could be a piece of rareness like mint-condition baseball trading cards or rare vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible thing that you can sell online. It is simpler to just imagine the NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling ownership over that particular token/item you uploaded on the marketplace, and 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 simple process to mine your NFTs by visiting the store and simply making a collection to begin! Complete the correct and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain or payment tokens). After you’ve completed the process, you can finally upload it, if it’s within the 100 MB limit.
It is possible to wait and see how the transactions go from here on out to determine if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point, you’re probably wondering the kind of NFTs you shop for here and what you can sell should you decide to go that route. The kind of NFT it can be is indefinite because there’s a wide range of how you can go about it.
It is possible to sell digital products, trading cards, game assets domain names, also physical goods! Explore what you believe can reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what separates OpenSea from the others. There are no gas costs for using this feature to mint and sell NFTs. This simply means that you’ll receive the maximum profits when you sell because you won’t need to spend on any additional charges.
Very few NFT marketplaces provide this feature, which is why this can be a fantastic way to make a huge profit from your collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces, you can receive benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have this kind of feature either and that’s another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse the marketplace. It isn’t able to purchase or sell items as you browse through the listing.
OpenSea’s mobile apps are available for the two platforms of iOS as well as Android. Even though you can’t buy or sell something, you can explore the products you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are to you You can also convert your fiat money into cryptocurrency using these platforms. Nft Pump
You can swap your fiat money via the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of these have the option of exchange for ETH that is the standard cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all types of crypto, wallets are nevertheless more compatible than other. Since it is built around the ETH blockchain, any wallets that share the same network are suitable for the site.
Here is a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations including simple registration, only mobile usage and the ability to buy cryptocurrency using credit cards. Nft Pump
To learn more about it, you can check their FAQs to get a rundown of how you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- You cannot buy or sell products through this mobile application.
- Only accepts cryptocurrency as a form of payment.
- A Crypto wallet is required to use this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll easily recover that amount when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Pump
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs because of its zero gas fees and the low commission rate that you have to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace which is why you should definitely go through it!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a reliable marketplace since it was established at the end of the year of 2018. Because its system is based on a blockchain and is secured, it is safe to say that your transactions are secure and safe.
In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark will appear to your account or the collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure that users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you will be paid only 10 percent of the royalties when you upload the NFT. This is believed to be reasonably low compared with others NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) can be widely utilized on this website and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier there’s an official mobile application from OpenSea available for both iOS or Android. Install it from their app store and you can start exploring the collection now!
A desktop application for OpenSea can be downloaded via WebCatalog. On the desktop app you are able to manage multiple accounts and receive 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/).
