Nft Should I Invest

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The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto coins. Markets have popped up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth a look.

If you’re familiar with cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the biggest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.

So, hop on board and let’s see the possibilities of OpenSea and also see the NFTs available to view!

open-sea-logo

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

OpenSea as an NFT Marketplace Nft Should I Invest

The purpose for OpenSea was to offer artists with a marketplace/platform to easily upload their commissions without any extra costs. There are additional features that let you sell your art without too many difficulties.

When it comes to registration, you don’t need to provide any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for the majority of transactions. It also functions on the Polygon blockchain to ensure low-cost and quicker trading.

With these two kinds of blockchains, you can choose which one you’d like to transfer your NFT to as seller. This is to ensure the security of your NFT, along with the people who want to purchase it. All transactions will be made using this blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online mall that lets you trade your cryptocurrency or NFTs for other NFTs. You can purchase anything from just a domain name, to a piece of art by an artist you admire. Anyone can become a seller, but it takes time before anyone can become an established one.

There are a variety of NFTs from the selection of NFTs available at OpenSea and you can join in with the collection! You can set up your own marketplace there, and also find NFTs you’d like to buy for yourself.

Nft Should I Invest

> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that many millennials are familiar with it , but aren’t sure exactly what it means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.

One of the newest things you can buy is an NFT. A NFT is a token that is non-fungible which is extremely unique and can’t be replaced. It can be an item of any rareness like mint-condition baseball trading cards or rare vinyl record.

There is no limit to what an NFT can be as it’s a non-fungible object that you sell on the internet. More straightforwardly, you can just think of as an NFT being a virtual item paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You’re claiming ownership over that particular token/item you uploaded on the market place, but you’re selling it. Usually, this is recognized after you fill in all the necessary information about the NFT and submit it for sale on.

On OpenSea It’s a very simple process to mine your NFTs by going to the store and then create a collection! Complete the correct and accurate information about your NFT and select the type of settings you want to use it with (e.g. blockchain and 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.

You can wait and observe how transactions progress from now to see if OpenSea is the marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs can you find here?

So, at this point you’re probably asking yourself the kind of NFTs you shop for here and what kind of NFTs you can also sell if you choose to pursue that route. The kind of NFT that you can purchase is indefinite as there’s a variety of how you can do it.

It is possible to sell digital products, trading cards, game assets, domain names, and even physical assets! Find out what you think will yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The collection Manager features is one of the things that differentiates OpenSea from the other options. There are zero gas fees when you utilize this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t need to spend on additional fees.

Very few NFT marketplaces offer this feature, which is why this is great for you to earn a high return from your NFT collection.

Referral Program

A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces that offer benefits when you refer someone else to OpenSea! If you refer a friend to 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 advantage OpenSea is able to offer over other NFT marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.

The mobile apps from OpenSea are accessible on the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available at your disposal You can also exchange your fiat money for cryptocurrency through these platforms. Nft Should I Invest

You can swap your fiat money via the credit card, or Paypal via these reputable websites to exchange it for crypto:

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

All of these have the option to exchange for ETH which is the most common crypto payment in OpenSea.

Crypto Wallets

Although OpenSea can be described as 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 using the ETH blockchain, all wallets with a connection to this network are appropriate for this website.

Here is a list of different 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 like easy registration, use on mobile devices only, and the function to purchase cryptocurrency using credit cards. Nft Should I Invest

For more information about the service, you can check their FAQs to get an overview of how you can get started and which other wallets are compatible with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like all crypto markets, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:

Pros

  • Available as mobile apps for iOS as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalties of only up to 10% for artists (low royalties).
  • You cannot buy or sell products on the mobile app.
  • Only supports cryptocurrency as its method of payment.
  • A Crypto wallet is required for this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their crypto wallets. If you’re a seller, 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 are actively selling since there’s no extra charge for it.

Frequently Asked Questions Nft Should I Invest

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use it to sell NFTs due to its no gas costs and low commission fees which you are required to pay.

You can browse and purchase an array of digital products on this NFT marketplace, so you should check it out!

Is OpenSea real and secure?

The short answer is yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in the year of 2018. Since the system it operates on is built on a blockchain and is secured, it is safe to declare that transactions are safe and secure.

In addition, as a seller, you will be verified after you have built up your credibility. A blue checkmark will be assigned on your account or collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure that users are safe.

How do I earn royalties from OpenSea?

As an artist, you’ll be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be quite low in comparison to the other NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) has been frequently utilized on this website and other sites to provide more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use for OpenSea.

What are the payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop/mobile application?

As we mentioned earlier There is an official mobile app 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 version for desktops 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 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/).

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