The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto-coins. There are numerous marketplaces popping up across the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re interested in crypto, you’ve probably heard about OpenSea prior to this for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Get on board, and let’s see the possibilities of OpenSea as well as examining the NFTs that you can see!
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 of OpenSea.
OpenSea as an NFT Marketplace Nft Starter Coingecko
The goal for OpenSea was to provide a platform/marketplace for artists to upload their commissions with no additional costs. It has more functions which allow you to market your art without too many issues.
For the registration process, you don’t have to give all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It is also based on the Polygon blockchain, which ensures lower costs and faster trading.
With these two kinds of blockchains that are available you can pick which one you want to upload your NFT on as a seller. This will ensure the security of your NFT, along with the people who want to buy it. All transactions will be made by using the blockchain, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs for other NFTs. You can purchase anything from as simple as a domain name, to a piece of art from an artist that you admire. Anyone can sell however, it takes a while for anyone to become an established one.
There’s a huge selection of NFTs available on OpenSea and you can also be a part of this! You can create your own personal market there, and also find NFTs you’d like to buy for yourself.
> > 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 so long on the internet that a lot of millennials have heard of it but aren’t sure exactly what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency includes an NFT. An NFT is a token that is non-fungible which is extremely individual and cannot be substituted. This can be an item of any rareness, such as authentic baseball cards, or a rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. It is simpler to simply consider an NFT to be a type of digital item paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You are calling the ownership of the particular item that you have uploaded to the market place, but you’re offering it for sale. Usually, this is recognized when you have filled in all the necessary information about the NFT and submit it for sale on.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and then making a collection to begin! Complete the correct and complete information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain or money transfer tokens). Once that’s all done, you can finally upload it, if it’s within the 100 MB limit.
You can wait and observe how transactions progress from now to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
In this moment you’re probably asking yourself what kind of NFTs can you shop for here and what you can also sell if you decide to pursue that route. The kind of NFT it isn’t limited because there’s a wide range of how you can do it.
It is possible to sell digital items, trading cards, game assets, domain names, and even physical assets! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from the other options. There are zero gas fees for using this feature when you create and market NFTs. This means 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 offer this feature, so this is great for you to make a huge profit from your NFT collection.
Referral Program
The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets that offer benefits by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50% of the sale amount, letting you earn more cash through this action.
Other NFT marketplaces do not have this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
The mobile apps from OpenSea are accessible on both iOS and Android. Although you aren’t able to purchase or sell things, you can browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal You can also convert your fiat money into cryptocurrency using these platforms. Nft Starter Coingecko
You can convert your fiat money via your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option of converting them into ETH, which is the most common crypto payment in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace that is open to all kinds of crypto, wallets are nevertheless more compatible than other. Since it is built mainly using an ETH blockchain, wallets with a connection to the same network are suitable for this website.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Nft Starter Coingecko
To learn more about it, you can check their FAQs to see the steps you can start and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalties).
- You cannot buy or sell products through this mobile application.
- Only accepts cryptocurrency as a method of payment.
- A Crypto wallet is required to use this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. But overall, you can quickly regain that when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft Starter Coingecko
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online, and to accept cryptocurrency as a method of payment. It’s an ideal platform for artists using for selling NFTs due to its no gas costs and low commission fee rate that you have to pay.
You can browse and purchase an array of digital items on the NFT marketplace, so you should go through it!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a reliable marketplace since it was founded on the 1st of December in the year of 2018. Since its system is built on blockchain technology and is secured, it is safe to declare that transactions are safe and secure.
In addition, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark is placed next to your account or the collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are secure.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is considered to be a reasonable amount compared against others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been frequently used on this site and numerous others to cater for many more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of for OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile app?
As mentioned before There is an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store, and then you can begin exploring the collection now!
The version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts and receive 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/).
