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The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto-coins. Marketplaces are popping up all over the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one and is worth a look.

If you’re interested in crypto, you’ve likely heard of OpenSea previously for a valid reason. It has become one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.

Now hop aboard, and discover what you can do with OpenSea as well as examining the NFTs available to view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Results

The goal of OpenSea was to simply provide an online marketplace for artists to upload their commissions with no additional costs. There are additional features which allow you to market your art without too many difficulties.

In terms of registration, you don’t need to give any personal information about yourself. All you have to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it, and this is used to carry out the majority of processes. It also operates with the Polygon blockchain, which allows for the lowest cost and speediest trading.

With these two types of blockchains, you can choose which one you want to transfer your NFT to as seller. This ensures the safety of your NFT as well as those who wish to purchase it. All transactions are made using this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name to official art by an artist you admire. Anyone can sell however, it takes time for anyone to be an established one.

There’s a huge selection in the collection on OpenSea, and you can join in with that! You can start your own market there, and also find NFTs that you would like to purchase for yourself.

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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 break down what an NFT is for any beginners in the field of cryptocurrency.

One of the latest ways that you can buy with cryptocurrency includes an NFT. A NFT is a non-fungible currency that is very exclusive and cannot be replaced. This can be an item of any rarity like authentic baseball cards or a unique vinyl album.

There is no limit to what an NFT can be as it’s a non-fungible object that you sell online. It is simpler to just imagine as an NFT to be a type of digital item that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming ownership over that particular token/item that you posted to the market place, but selling it. Usually, this is recognized after you fill in all the necessary information about the NFT and upload it to the marketplace.

On OpenSea It’s a very simple procedure to create your own NFTs. All you have to do is visit the store and creating a collection to start! Input the appropriate and accurate information about your NFT and then select what type of settings you’d like to use to use it with (e.g., blockchain and payment tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.

It is possible to wait and see how the transactions go from now on to see if OpenSea is the best marketplace for you.

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What NFTs can you find here?

So, at this point, you’re probably wondering which kind of NFT be found here, and what you could also sell if you choose to pursue that route. The type of NFT it can be is indefinite since there’s a broad range of options for how to approach it.

You can be selling digital products, trading cards games, domain names, and some physical items! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what separates OpenSea from other companies. There’s no cost for gas when you use this feature when you mint and sell 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 any additional charges.

There aren’t many NFT marketplaces offer this feature, so this can be a fantastic way to make a huge profit from your NFT collection.

Referral Program

The Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive advantages by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50 percent of the sales amount, which allows you to earn more cash through this action.

Other NFT marketplaces don’t have the same feature This is a further benefit OpenSea has over the other marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell anything as you scroll through the list.

The mobile apps of OpenSea are available on both iOS and Android. Even though you can’t buy or sell things, you can look through the options you’re looking for on the move.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available at your disposal You can also exchange your fiat money for cryptocurrency using these platforms. Nft Results

You can exchange the fiat currency you have with a the 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 crypto payment 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, wallets that share the same network are suitable for the site.

Here’s a list several crypto wallets which you can use with OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage and the ability to purchase cryptocurrency with the credit card. Nft Results

For more information about the service, you can check their FAQs to see a rundown of how you can begin and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:

Pros

  • Mobile apps available that are compatible with iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto market and NFTs.

Cons

  • Allows royalty rates of up to 10% for artists (low royalties).
  • You cannot buy or sell products via the mobile app.
  • Only accepts cryptocurrency as a method of payment.
  • A Crypto wallet is required to access this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. In the end, you’ll quickly recover this amount if you sell regularly since there is no additional fee for it.

Frequently Asked Questions Nft Results

What is OpenSea?

OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its no gas fees and low commission fee rate you must pay.

You can browse and purchase a vast collection of digital goods in this NFT marketplace which is why you should definitely take a look!

Is OpenSea real and safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was founded at the end of 2018. Because its system is built on blockchain technology and is secured, it is safe to say that your transactions are protected and secured.

Furthermore, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark is placed next to your account or collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure users are secure.

How do I earn royalties on OpenSea?

As an artist, you can get only 10 percent of the royalties when you have uploaded the NFT. This is thought to be quite low in comparison against other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) has been widely used on this site and many others to accommodate many 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 access OpenSea.

Which are the accepted payment methods for OpenSea?

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

Does OpenSea have a desktop/mobile app?

As we mentioned earlier, there is definitely an official mobile app from OpenSea that is available for iOS as well as Android. Install it from their app store and then you can begin browsing through the collection right now!

A desktop application for OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts as well as receive notifications about updates to 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/).

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