Nft Selling

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The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping up all over the digital web designed to purchase and sell NFTs with cryptocurrency! OpenSea is among them and is worth checking out.

If you’re familiar with cryptocurrency you’ve probably heard of OpenSea before for a good reason. It’s one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.

So, hop on board and discover what you can do with OpenSea as well as examining the NFTs that you can see!

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Before you go on, you may want to watch 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 of OpenSea.

OpenSea as an NFT Marketplace Nft Selling

The goal of OpenSea was to simply provide an online marketplace for artists to upload commissions with no additional charges. It has more functions which allow you to market your art without too many issues.

In terms of registration, you won’t have to give too many details about yourself. All you need to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that, without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for the majority of transactions. It is also based using the Polygon blockchain, which ensures the lowest cost and speediest trading.

There are two types of blockchains you can pick which one you want to transfer your NFT to as a seller. This is to ensure the security of your NFT as well as the people who want to purchase it. Every transaction will be conducted by using the blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name to official art by an artist you admire. Anyone can become a seller however it takes time before anyone can become a reputable one.

There are a variety of NFTs from the selection on OpenSea, and you can become a part of the collection! You can start your own personal market there, and also find NFTs that you would like to purchase yourself.

Nft Selling

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What is an NFT?

A recent change in the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t exactly sure what it 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 can be an NFT. The NFT is a non-fungible currency that is very exclusive and cannot be substituted. This can be an item of any rarity like mint-condition baseball trading cards or unique vinyl album.

There’s no limit to what an NFT could be, since it’s a non-fungible item that you can sell on the internet. It is simpler to simply imagine an NFT to be a type of digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots for your personal NFTs. It is a way of claiming the ownership of the particular item you uploaded on market, as you’re selling it. Typically, this is official once you fill out the correct information about the NFT and finally submit it for sale on.

On OpenSea, it’s a simple process to mine your NFTs by visiting the store and creating a collection to start! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like for it (e.g., blockchain or payment tokens). After you’ve completed the process you are able to upload it to the internet if it’s in the limit of 100MB.

It is possible to wait and see the way transactions are handled from now to determine whether OpenSea is the marketplace for you.

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What NFTs are available here?

So, at this point you’re probably thinking about the kind of NFTs be found here and what you can also sell if you decide to go that route. The type of NFT it is unlimited since there’s a broad range of how you can go about it.

You can be selling digital products, trading cards game assets domain names, some physical items! Find out what you think will yield the most profit by trying 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 to mint and sell NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you don’t need to pay on extra fees.

There aren’t many NFT marketplaces provide this feature, and it is a great 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. Similar to traditional online markets, you can receive advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50% of the sale amount, letting you earn more cash through this action.

Other NFT marketplaces do not have the same feature and that’s another benefit OpenSea has over them.

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Mobile Application

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

The mobile apps from OpenSea are accessible on both iOS as well as Android. Although you aren’t able to purchase or sell anything, you can still at least explore the products you’re interested in while on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available for you to use, and you can convert your fiat money into cryptocurrency through these platforms. Nft Selling

You can swap your fiat currency using a the credit card, or Paypal on these reliable websites to exchange it for crypto:

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

All of them have the option of converting them into ETH that is the standard cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all kinds of crypto, wallets are nonetheless more compatible than other. Because it is based around the ETH blockchain, all wallets with a connection to that network will be suitable for the site.

Here is a list of several crypto wallets you can utilize in 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 including simple registration, mobile-only usage and the ability to purchase cryptocurrency with a credit card. Nft Selling

To learn more about it You can go through their FAQs for 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

  • Available as mobile apps for iOS or Android.
  • Smart contracts are used for transactions.
  • Security at the highest level with the help of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalties of only 10% to artists (low royalties).
  • Cannot buy or sell on our mobile apps.
  • Only supports cryptocurrency as its method of payment.
  • A Crypto wallet is required to use this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly regain that when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft Selling

What is OpenSea?

OpenSea is an NFT marketplace that aims to give artists a chance to market their work online, and to accept cryptocurrency as a method of payment. It’s an ideal platform for artists using the platform to market NFTs because of its zero cost of gas and the low commission rate that you have to pay.

You can browse and shop for a vast collection of digital items on the NFT marketplace, so you should take a look!

Is OpenSea real and is it safe?

Answer: Yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in the year 2018. Because its system is built on a blockchain that is secure, you can declare that transactions are protected and secured.

Furthermore, as a seller, you can become verified once you have built up your credibility. A blue checkmark will be assigned next to your account or the collection that you have uploaded to assure any customer. OpenSea’s team regularly reviews the content to ensure that users are protected.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is believed to be quite low in comparison against the other NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) has been frequently used on this site as well as other sites to provide more crypto users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies 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 sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop app?

As previously mentioned, there is definitely an official mobile application from OpenSea that is available for iOS and Android. You can download it through their app store, and begin exploring the collection right now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application, 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/).

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