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The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto-coins. Markets have popped up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is one of them and is worth a look.

If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.

Now hop aboard, and let’s see the possibilities of OpenSea as well as examining what NFTs you can view!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Seahawks Merchandise

The aim for OpenSea was to simply provide an online marketplace for artists to upload commissions, without having to pay any additional fees. It has more functions which allow you to market your art without too many difficulties.

For registration, you won’t have to worry about giving too many details about yourself. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It also operates with the Polygon blockchain, which ensures low-cost and quicker trading.

With these two kinds of blockchains, you can choose which one you’d like to upload your NFT on as a seller. This is to ensure the security of your NFT and those who would like to purchase 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 an endless online mall that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist you admire. Anyone can become a seller however, it takes time before anyone can become an established one.

There’s a huge selection of NFTs available of NFTs available at OpenSea, and you can also be a part of that! You can create your own marketplace there, and also find NFTs that you would like to purchase yourself.

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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 aren’t exactly sure what it is. Let’s look at what an 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 token that is non-fungible which is extremely exclusive and cannot be substituted. This can be a piece of rareness, such as mint-condition baseball trading cards or rare vinyl record.

There’s no limit to what an NFT can be since it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can just consider an NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs on your own NFTs. It is a way of claiming the owner of the item or token that you have uploaded to the market place, but you’re selling it. Usually, this becomes official once you fill out the proper information regarding the NFT and finally upload it to the marketplace.

On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and simply making a collection to begin! Input the appropriate and accurate information about your NFT and choose what kind of settings you’d like for it (e.g. blockchain or payment tokens). After you’ve completed the process then you’re able to upload it, if it’s within the 100 MB limit.

You can wait and observe the way transactions are handled from here on out to determine if OpenSea is the marketplace for you.

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What NFTs can you find here?

At this point, you’re probably wondering which kind of NFT be purchased here and what kind of NFTs you can also sell if you decide to go that route. The kind of NFT it can be isn’t limited since there’s a broad range of options for how to do it.

You can be selling trade cards, digital goods games, domain names, and also physical goods! Explore what you believe can yield the most profit by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager features is one of the things that sets OpenSea from the other options. There are zero gas fees for using this feature to create and market NFTs. This simply means that you’ll receive the maximum profits when you sell because you won’t need to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, which is why this can be a fantastic way to make a huge profit from your portfolio.

Referral Program

This Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces there are benefits by referring a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, which means you can make more money through this action.

Other NFT marketplaces don’t offer this kind of feature either and that’s another benefit OpenSea is able to offer over other NFT marketplaces.

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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 scroll through the list.

The mobile apps of OpenSea are available for both iOS in addition to Android. While you’re not able to buy or sell something, you can at least explore the products you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available at your disposal to exchange your fiat money for cryptocurrency on these platforms. Nft Seahawks Merchandise

You can exchange your fiat currency using a credit card or Paypal through these trusted sites for cryptocurrency:

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

All of them have the option of converting them into ETH, which is the primary cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all types of cryptocurrency, wallets are still more compatible with it than others. Since it is built mainly using an ETH blockchain, all wallets which are part of 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: The compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations including simple registration, only mobile usage, and the function to purchase cryptocurrency with a credit card. Nft Seahawks Merchandise

For more information about the service to learn more, check out their FAQs to see the steps you can begin and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:

Pros

  • Available as mobile apps 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.
  • The best option for beginners to the crypto world and NFTs.

Cons

  • Allows royalty rates of 10% to artists (low royalties).
  • Cannot buy or sell on the mobile app.
  • Only accepts cryptocurrency as a method of payment.
  • An Crypto account is needed to use this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. However, overall, you will quickly regain that when you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Nft Seahawks Merchandise

What is OpenSea?

OpenSea is an NFT marketplace that seeks to offer artists a way to market their work online to receive cryptocurrency as their form of payment. It’s an excellent 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 shop and browse the vast array of digital items on the NFT marketplace which is why you should definitely check it out!

Is OpenSea real and secure?

The short answer is yes! OpenSea is a reputable marketplace since it was established on the 1st of December in 2018. Since its system is based on a blockchain that is secure, you can declare that transactions are protected and secured.

Furthermore, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned on your account or collection you uploaded to reassure any customer. The team at OpenSea regularly checks the content to ensure that users are protected.

How do I earn royalties from OpenSea?

Unfortunately, as an artist, you will be paid only 10% of the royalties once you upload the NFT. This is thought to be quite low in comparison with others NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) has been widely used on this site and other sites to provide the increasing number of crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can utilize for OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the 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 has a mobile or desktop app?

As mentioned before There is an official mobile app by OpenSea that is available for iOS or Android. You can download it through their app store, and begin browsing through the collection right now!

The Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts and get 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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