Nft Record

opensea-review

Cryptocurrency is booming right now and you’re probably thinking what you can do with your crypto-coins. Marketplaces are popping up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea can be one, and it’s worth checking out.

If you’re familiar with cryptocurrency you’ve probably heard of OpenSea before for a good reason. It has become 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 what you can do with OpenSea and also see the NFTs available to view!

open-sea-logo

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 Record

The goal for OpenSea was to simply provide an online marketplace for artists to upload their commissions without any extra costs. It has more functions which allow you to market your work without having to deal with many issues.

In terms of 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 in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized to carry out the majority of processes. It also functions on the Polygon blockchain to ensure lower costs and faster trading.

With these two types of blockchains you can pick which one you want to publish your NFT as an seller. This will ensure the security of your NFT, along with those who would like to purchase 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 mall where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can sell, but it takes time for anyone to be a reputable one.

There’s a huge selection in the collection on OpenSea and you can join in with the collection! You can set up your own market here, along with finding NFTs you’d like to buy for yourself.

Nft Record

> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent advancement for the crypto market the term “NFT” has been going around 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 break down what an NFT is for anyone who is new in cryptocurrency.

One of the latest ways you can buy can be an NFT. The NFT is a non-fungible token which is extremely exclusive and cannot be changed. This can be a piece of rareness, such as mint-condition baseball trading cards or a unique vinyl album.

There is no limit to what an NFT can be as it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could just consider the NFT as a digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. It is a way of claiming ownership over that particular token/item you uploaded on the market place, but you’re selling it. Usually, this becomes official once you fill out the correct information about the NFT and finally upload it to the marketplace.

On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and simply create a collection! Complete the correct and accurate information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain, payments tokens). After you’ve completed the process, you can finally upload it, if it’s within the limit of 100MB.

You can wait and observe how transactions progress from here on out to see if OpenSea is the marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs can you get here?

At this point you’re probably thinking about the kind of NFTs can you shop for here and what kind of NFTs you can also sell if you choose to pursue that route. The type of NFT that you can purchase is indefinite because there’s a wide range of ways to do it.

It is possible to sell trade cards, digital goods games domain names, even physical assets! Find out what you think will reap the best rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what sets OpenSea from the others. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on any additional charges.

Not many NFT marketplaces provide this feature, which is why this is a great way to earn a high return from your collection.

Referral Program

This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are advantages 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% of the sale amount, which allows you to earn more cash from this act.

Other NFT marketplaces do not have this kind of feature either and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. You can’t buy or sell anything while you browse through the listing.

OpenSea’s mobile apps are available for both iOS as well as Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are at your disposal You can also exchange your fiat money for cryptocurrency through these platforms. Nft Record

You can exchange your fiat money via credit card or Paypal via these reputable websites for cryptocurrency:

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

All of them have the option of exchange for ETH, which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all forms of crypto, wallets are nevertheless more compatible than other. Since it is built mainly around the ETH blockchain, any wallets with a connection to that network will be suitable for this website.

Here’s a list several 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 seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, use on mobile devices only, and the function to buy cryptocurrency using credit cards. Nft Record

To learn more about it, you can check their FAQs for an overview of how you can begin and which other wallets work with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalties 10% for artists (low royalty).
  • Cannot buy or sell on this mobile application.
  • Only accepts cryptocurrency as a type of payment.
  • An Crypto wallet is required to access this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you sell regularly since there is no additional fee for it.

Frequently Asked Questions Nft Record

What is OpenSea?

OpenSea is an NFT marketplace that aims to offer artists a way to sell their works online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use the platform to market NFTs because of its zero gas fees and the low commission rate which you are required to pay.

You can browse and purchase an array of digital items on the NFT marketplace, so you should check it out!

Is OpenSea legitimate and is it safe?

Answer: Yes! OpenSea is a reputable marketplace since its inception on the 1st of December in 2018. Since its system is built on blockchain technology, it is safe to claim that your transactions are protected and secured.

Furthermore as a seller you can become verified once you’ve earned a reputation. A blue checkmark is placed on your account or the collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.

How can I earn royalties from OpenSea?

As an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is thought to be reasonably low compared with the other NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) is frequently used on this site as well as many others to accommodate more cryptocurrency users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use for OpenSea.

What are the payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency through trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop 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 then you can begin exploring the collection now!

There is also a desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app you can manage multiple accounts and get alerts on any updates that affect 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/).

block-chain

> > Click Here to Explore OpenSea < <

error: Content is protected !!