Nft Starter Kit

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Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them, and it’s worth checking out.

If you’re interested in crypto you’ve likely heard of OpenSea previously for a valid reason. It’s one of the biggest and leading marketplaces among cryptocurrency users because of its safety and speedy transactions.

Now hop aboard, 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 check out this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Starter Kit

The goal for OpenSea was to simply provide artists with a marketplace/platform to upload their commissions with no additional costs. There are additional features that allow you to sell your art without too many difficulties.

For the registration process, you don’t have to provide any personal information about yourself. All you need to do is connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It also functions using the Polygon blockchain to ensure the lowest cost and speediest trading.

There are two types of blockchains it is possible to choose which one you want to transfer your NFT to as an seller. This will ensure the security of your NFT as well as those who wish to purchase it. Every transaction will be conducted along with this blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can purchase anything from the simplest domain name to an official artwork from an artist you admire. Anyone can become a seller however it takes a while for anyone to become an established seller.

There is a wide variety in the collection of NFTs available at OpenSea and you can join in with the collection! You can create your own market there, and also find NFTs you want to purchase for yourself.

Nft Starter Kit

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What is an NFT?

A recent change in the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that a lot of millennials are familiar with it but aren’t sure exactly what it means. Let’s look at what an NFT is for anyone who is new in cryptocurrency.

One of the new things you can buy includes an NFT. An NFT is a token that is non-fungible which is extremely exclusive and cannot be substituted. It could be a piece of rareness like mint-condition baseball trading cards or rare vinyl record.

There’s no limit on what an NFT can be as it’s a non-fungible item that you sell online. In simpler terms, you could just consider the NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You’re claiming the ownership of the particular item that you posted to the market place, but selling it. Usually, this becomes official once you fill out the correct information about the NFT and then add it on the market.

On OpenSea it’s a straightforward process to mine your NFTs by going to the store and making a collection to begin! Fill out the proper and correct information regarding your NFT and select the type of settings you’d like for it (e.g. blockchain and payments tokens). After you’ve completed the process you are able to upload it, if it’s within the 100 MB limit.

It is possible to wait and see the way transactions are handled from now on to see if OpenSea is the best marketplace for you.

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What NFTs can you find here?

So, at this point you’re probably thinking about the kind of NFTs you shop for here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT it can be is indefinite because there’s a wide range of options for how to go about it.

You can be selling trade cards, digital goods game assets domain names, some physical items! Explore what you believe can yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what differentiates OpenSea from the other options. There’s no cost for gas when you utilize this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t need to spend on additional fees.

Not many NFT marketplaces have this feature, which is why this is a great way to earn a high return from your collection.

Referral Program

This Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces that offer advantages by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can make more money from this act.

Other NFT marketplaces don’t offer this kind of feature either, so that’s just 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 the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listings.

The mobile apps of OpenSea are available for both iOS and Android. Although you aren’t able to purchase or sell anything, you can still at least explore the products you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are available to you, and you can convert your fiat money into cryptocurrency using these platforms. Nft Starter Kit

You can swap your fiat money via credit card or Paypal through these trusted sites for cryptocurrency:

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

Each of them has the option of converting them into ETH, which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, wallets are nevertheless more compatible than others. Since it is built around an ETH blockchain, wallets which are part of this network are appropriate for the site.

Here’s a list of different crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and many more!

*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, mobile-only usage, and the function to buy cryptocurrency using a credit card. Nft Starter Kit

To know more about it to learn more, check out their FAQs for the steps you can begin and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps are available for iOS as well as Android.
  • Smart contracts are used for transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalty rates of 10% for artists (low royalty rates).
  • Cannot buy or sell via our mobile apps.
  • Only supports cryptocurrency as its type of payment.
  • A Crypto account is needed for this marketplace.

Pricing

OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will easily recover that amount when you sell regularly since there is no additional fee for it.

Frequently Asked Questions Nft Starter Kit

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to sell their works online to receive cryptocurrency as a method of payment. It’s a great option for artists who want to use it to sell NFTs due to its low gas fees and low commission fee rate that you have to pay.

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

Is OpenSea legitimate and is it safe?

Short answer: Yes! OpenSea has been a reliable marketplace since it was established at the end of the year 2018. Because its system is built on a blockchain and is secured, it is safe to say that your transactions are secure and safe.

Furthermore as a seller you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.

How do I earn royalties on OpenSea?

As an artist, you’ll receive only up to 10 percent of the royalties when you upload the NFT. This is considered to be reasonably low compared to others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) has been frequently utilized on this website and many others to accommodate many more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can utilize for OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop application?

As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS and Android. Install it from their app store and then you can begin browsing through the collection right now!

There is also a 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 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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