The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto-coins. 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 a look.
If you’re interested in crypto you’ve probably heard about OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency users because of its safety and speedy transactions.
Now hop aboard, and let’s explore the possibilities of 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. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Quotes
The aim of OpenSea was to provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional charges. There are additional features that allow you to sell your artwork without any difficulties.
In terms of the registration process, you don’t have to worry about giving too many details about yourself. All you have to do is connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for most processes. It is also based on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains available it is possible to choose which one you want to upload your NFT on as an seller. This is to ensure the security of your NFT, along with those who would like to buy it. Every transaction will be conducted using this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name, to a piece of art from an artist that you admire. Anyone can be a seller, but it takes time for anyone to be an established seller.
There is a wide variety in the collection of NFTs available at OpenSea and you can become a part of that! You can create your own marketplace 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?
A recent change in the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t sure exactly what it is. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency includes an NFT. A NFT is a non-fungible token that is unique and can’t be replaced. This can be a piece of rareness, such as mint-condition baseball trading cards or a uncommon vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible thing that you can sell online. In simpler terms, you could simply think of as an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots for your personal NFTs. You are calling the ownership of the particular item that you have uploaded to the market place, but selling it. Usually, this is recognized after you fill in the correct information about the NFT and upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting 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 for it (e.g. blockchain and payment tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.
You can wait and observe the way transactions are handled from now on to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering the kind of NFTs be found here, and what you could also sell if you choose to go down that path. The type of NFT it isn’t limited since there’s a broad range of how you can go about it.
You can be selling digital items, trading cards game assets domain names, even physical assets! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that separates OpenSea from the others. There are no gas costs when you use this feature when you create and market NFTs. This means you’ll get the most profit when you sell because you won’t need to spend on extra fees.
Not many NFT marketplaces offer this feature, and it can be a fantastic way to receive high profit from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are benefits when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50% of the sale amount, which means you can make more money from this act.
Other NFT marketplaces don’t offer this feature This is a further benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use You can also exchange your fiat money for cryptocurrency on these platforms. Nft Quotes
You can swap the fiat currency you have with a the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option to exchange for ETH that is the most common cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based around the ETH blockchain, any wallets with a connection to the same network are suitable for this site.
Here’s a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage, and the function to buy cryptocurrency using credit cards. Nft Quotes
To know more about it to learn more, check out their FAQs for an overview of how you can start and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalties of only 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 digital wallet must be used to use this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. But overall, you can easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Nft Quotes
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way to market their work online and receive cryptocurrency as their form of payment. It’s a great platform for artists using for selling NFTs because of its zero cost of gas 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 and you must check it out!
Is OpenSea legitimate and safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year of 2018. Because its system is built on blockchain technology, it is safe to declare that transactions are secure and safe.
In addition, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed on your account or any collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are protected.
How do I earn royalties on OpenSea?
However, as an artist, you can receive only up to 10% of the royalties once you upload the NFT. This is thought to be quite low in comparison against the other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been commonly utilized on this website and many others to accommodate more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows 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 exchange.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier, there is definitely an official mobile app by OpenSea available for both iOS as well as Android. Install it from their app store, and you can start exploring the collection right now!
The Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app, 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/).
