The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto currency. There are numerous marketplaces popping up all over the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea is one of them and is worth a look.
If you’re interested in crypto, you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.
Get on board, and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, you may want to check out 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 Recycle
The aim for OpenSea was to offer artists with a marketplace/platform to upload commissions without any extra fees. It has more functions that let you sell your artwork without any issues.
For registration, you won’t have to give all of your personal details. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It also operates with the Polygon blockchain, which ensures 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 a seller. This ensures the safety of your NFT and those who would like to buy it. All transactions will be made using this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art by an artist you admire. Anyone can be a seller however it takes time for anyone to become a reputable one.
There’s a huge selection in the collection on OpenSea, and you can join in with this! You can create your own market there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry, 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 sure exactly what it actually means. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible currency that is unique and can’t be changed. It could be a piece of rarity 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 simply think of an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You are calling the owner of the item or token that you posted to the marketplace, and offering it for sale. Usually, this is recognized when you have filled in the proper information regarding the NFT and then submit it for sale on.
On OpenSea, it’s a simple 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 choose what kind of settings you’d like to use for it (e.g. blockchain or payments tokens). Once that’s all done then you’re able to upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now on to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably thinking about the kind of NFTs can be purchased here and what you can sell should you decide to go that route. The type of NFT that you can purchase is indefinite as there’s a variety of how you can do it.
You could be selling digital items, trading cards games domain names, even physical assets! 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 separates OpenSea from other companies. There are no gas costs when you use this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you sell because you won’t need to spend on extra fees.
There aren’t many NFT marketplaces provide this feature, and it can be a fantastic way to make a huge profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces, you can receive advantages when you refer your friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50 percent of the sales amount, letting you earn more money by this method.
Other NFT marketplaces don’t have the same feature and that’s another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly used to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
The mobile apps of OpenSea are available on both iOS in addition to 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
Numerous cryptocurrency exchange platforms are to you, and you can convert your fiat money into cryptocurrency using these platforms. Nft Recycle
You can exchange your fiat currency using a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of them have the option of converting them into ETH that is the most common cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all forms of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built using an ETH blockchain, all wallets with a connection to the same network are suitable for this website.
Here’s a list of various crypto wallets that you can utilize 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, only mobile usage as well as the capability to purchase cryptocurrency with the credit card. Nft Recycle
For more information about the service to learn more, check out their FAQs for 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
As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalties 10% for artists (low royalty).
- It is not possible to buy or sell items through our mobile apps.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto account is needed for this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Recycle
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way for selling their artwork online and receive cryptocurrency as their form of payment. It’s an excellent option for artists who want to use the platform to market NFTs due to its low cost of gas and low commission fees you must pay.
You can shop and browse an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and safe?
Answer: Yes! OpenSea has been a trusted marketplace since it was established in 2018. Because its system is built on blockchain technology that is secure, you can claim that your transactions are secure and safe.
Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark will appear to your account or collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure users are secure.
How do I earn royalties from OpenSea?
However, as an artist, you can receive only up to 10 percent of the royalties when you have uploaded the NFT. This is considered to be quite low in comparison with other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is commonly used on this site as well as other sites to provide more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize for OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As previously mentioned there’s an official mobile app by OpenSea for both iOS or Android. You can download it through their app store, and you can start browsing through the collection right now!
The version for desktops that OpenSea which can be downloaded from WebCatalog. In the desktop application, you can manage multiple accounts as well as receive 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/).
