Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto currency. There are numerous marketplaces popping up all over the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.
If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
Get on board, and discover the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Rock Sold
The purpose of OpenSea was to simply provide a platform/marketplace for artists to upload their commissions without any extra charges. There are additional features that let you sell your art without too many problems.
For the registration process, you don’t have to give too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used for the majority of transactions. It also functions with the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains that are available you can pick which one you’d like to transfer your NFT to as an seller. This will ensure the security of your NFT, along with those who wish to purchase it. Every transaction will be conducted using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name to official art by an artist you admire. Anyone can become a seller, but it takes a while for anyone to be an established one.
There is a wide variety from the selection of NFTs available at OpenSea and you could become a part of that! You can create your own marketplace here, along with finding NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t exactly sure what it means. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the newest things you can buy can be an NFT. An NFT is a non-fungible currency that is very exclusive and cannot be changed. It can be an item of rareness like rare baseball trading cards in mint condition, or a rare vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell online. More straightforwardly, you can simply think of as an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. It is a way of claiming the owner of the item or token that you have uploaded to market, as offering it for sale. Typically, this is official when you have filled in all the necessary information about the NFT and finally submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and simply creating a collection to start! Input the appropriate and accurate information about your NFT and select the type of settings you want to use it with (e.g., blockchain or payment tokens). After that you are able to upload it if it fits the 100 MB limit.
It is possible to wait and see the way transactions are handled from now to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably thinking about the kind of NFTs be purchased here, and what you could also sell if you decide to go down that path. The type of NFT that you can purchase is unlimited since there’s a broad range of how you can approach it.
You could be selling digital products, trading cards games domain names, even physical assets! Consider what you believe will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the other options. There are zero gas fees when you utilize this feature when you make and then sell the NFTs. This is essentially a way to ensure that you get the most profit when you begin selling since you won’t have to spend on extra fees.
Not many NFT marketplaces have this feature, which is why 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 take note of. Like traditional online marketplaces there are rewards by referring your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there, you’ll receive 2.50% of the sale amount, which allows you to earn more cash from this act.
Other NFT marketplaces don’t have the same feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.
OpenSea’s mobile apps are available for both iOS and Android. Although you aren’t able to purchase or sell anything, you can still explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use, and you can exchange your fiat money for cryptocurrency using these platforms. Nft Rock Sold
You can swap your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of these have the option to exchange for ETH that is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all types of cryptocurrency, the wallets still more compatible with it than others. Since it is built mainly on an ETH blockchain, any wallets with a connection to that network will be suitable for this site.
Here’s a list various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only and the ability to buy cryptocurrency using credit cards. Nft Rock Sold
To learn more about it, you can check their FAQs to get an overview of how you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and cons here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalties).
- You cannot buy or sell products on this mobile application.
- Only accepts cryptocurrency as a type of payment.
- The use of a Crypto account is needed to use this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Rock Sold
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to sell their works online and receive cryptocurrency as a form of payment. It’s an ideal option for artists who want to use the platform to market NFTs due to its low gas fees and low commission fee rate which you are required to pay.
You can browse and purchase a vast collection of digital goods in this NFT marketplace, so you should check it out!
Is OpenSea legit & secure?
The short answer is yes! OpenSea is a reputable marketplace since its inception in the year 2018. Since its system is built on a blockchain and is secured, it is safe to declare that transactions are secure and safe.
In addition, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure that users are safe.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10% of the royalties once you have uploaded the NFT. This is believed to be quite low in comparison to other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been widely used on this site as well as numerous others to cater for the increasing number of crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can use to use OpenSea.
Which are the accepted 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 have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned there’s an official mobile application from OpenSea available for both iOS as well as Android. You can download it through their app store, and begin exploring the collection right now!
A desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts and receive notifications on updates regarding your account when you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
