The crypto currency market is in a boom right now and you’re probably thinking what you can do with your crypto currency. Markets have popped up all over the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.
Get on board, and let’s see what you can do with OpenSea, along with checking the NFTs that you can see!
Before you go on, you may want to check out 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.
OpenSea as an NFT Marketplace Nft Sale
The purpose of OpenSea was to provide an online marketplace for artists to upload commissions, without having to pay any additional charges. There are additional features that allow you to sell your work without having to deal with many issues.
In terms of registration, you won’t have to worry about giving too many details about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system and is used to carry out the majority of processes. It is also based on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds 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 as well as those who would like to buy it. All transactions are made along with this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to an official artwork from an artist you admire. Anyone can become a seller however, it takes some time before anyone can become a reputable one.
There are a variety of NFTs of NFTs available on OpenSea and you could join in with the collection! You can start your own marketplace on this site, as well as find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry the term “NFT” has been going around for so long on the internet that the majority of young people are familiar with it but not exactly sure what it is. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency includes an NFT. A NFT is a non-fungible currency that is individual and cannot be changed. It could be a piece of rareness, such as rare baseball trading cards in mint condition or uncommon vinyl record.
There is no limit to what an NFT can be as it’s a non-fungible item that you sell online. More straightforwardly, you can simply think of an NFT being a virtual collectible paid via 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 that you have uploaded to the marketplace, and you’re putting it up for sale. Usually, this becomes official when you have filled in all the necessary information about the NFT and then add it on the market.
On OpenSea It’s a very simple process to mint your NFTs by going to the store and simply creating a collection to start! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use to use it with (e.g. blockchain, money transfer tokens). After that you are able to upload it, if it’s within the limit of 100MB.
You can watch and see how the transactions go from here on out to determine if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering which kind of NFT can be purchased here and what kind of NFTs you can also sell if you choose to pursue that route. The kind of NFT it can be is indefinite since there’s a broad range of options for how to approach it.
It is possible to sell digital items, trading cards games domain names, even physical assets! Consider what you believe will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from other companies. There are no gas costs for using this feature when you create and market NFTs. This means you’ll get the most profit when you sell because you won’t have to spend on any additional charges.
Not many NFT marketplaces offer this feature, so this is great for you to make a huge profit from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces, you can receive rewards when you refer your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can earn more money through this action.
Other NFT marketplaces do not have this feature and that’s another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
The mobile apps of OpenSea are available on both iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available to you, and you can exchange your fiat money for cryptocurrency on these platforms. Nft Sale
You can swap the fiat currency you have with a your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option to exchange for ETH which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than other. Since it is built mainly using the ETH blockchain, any wallets which are part of that network will be suitable for the site.
Here’s a list several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only, and the function to purchase cryptocurrency with the credit card. Nft Sale
To know more about it, you can check their FAQs to get the steps you can start and also what other crypto wallets are compatible with OpenSea.
> > 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. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available for iOS and 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 royalty).
- You cannot buy or sell products via this mobile application.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Sale
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance for selling their artwork online and receive cryptocurrency as their form of payment. It’s an excellent option for artists who want to use it to sell NFTs because of its zero cost of gas and the low commission rate which you are required to pay.
You can browse and shop for the vast array of digital items on the NFT marketplace which is why you should definitely take a look!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in 2018. Since its system is built on a blockchain that is secure, you can declare that transactions are safe and secure.
In addition as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned next to your account or the collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure that users are safe.
How can I earn royalties from OpenSea?
However, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is considered to be reasonably low compared with others NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as many others to accommodate the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier There is an official mobile app by OpenSea for both iOS as well as Android. You can download it through their app store and then you can begin exploring the collection now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app, you can manage multiple accounts and get notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
