The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up across the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Get on board, and let’s see what you can do with OpenSea and also see what NFTs you can view!
Before you go on, you may want to watch 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 Stretch Fur
The aim to create OpenSea was to offer a platform/marketplace for artists to upload commissions, without having to pay any additional charges. It also has additional functions that allow you to sell your art without too many problems.
For registration, you don’t need to worry about giving any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It also functions using the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains you can pick which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT and those who would like to purchase it. All transactions will be made along with this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name, to a piece of art by an artist you admire. Anyone can sell, but it takes some time for anyone to be an established one.
There is a wide variety of NFTs available on OpenSea, and you can join in with that! You can set up your own marketplace on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry,”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 exactly sure what it is. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency can be an NFT. An NFT is a non-fungible currency that is exclusive and cannot be replaced. This can be a piece of rareness like authentic baseball cards or a rare vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible object that you sell online. It is simpler to simply consider as an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs to your NFTs. You’re claiming ownership over that particular token/item that you posted to market, as selling it. Usually, this becomes official once you fill out all the necessary information about the NFT and then add it on the market.
On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and simply making a collection to begin! Input the appropriate and complete information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain or money transfer tokens). Once that’s all done, you can finally upload it, if it’s within the limit of 100MB.
You can wait and observe how the transactions go from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about what kind of NFTs you shop for here, and what you could also sell if you decide to pursue that route. The kind of NFT it can be is indefinite since there’s a broad range of ways to go about it.
You could be selling digital products, trading cards game assets domain names, also physical goods! Explore what you believe can yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the others. There are zero gas fees 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 any additional charges.
Very few NFT marketplaces provide this feature, and it is great for you to make a huge profit from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets there are rewards by referring your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, which allows you to make more money by this method.
Other NFT marketplaces do not have the same feature and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used for perusing through the marketplace. You can’t buy or sell anything as you scroll through the list.
The mobile apps from OpenSea are accessible for both iOS and Android. While you’re not able to buy or sell something, you can at least explore the products you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use to exchange your fiat money for cryptocurrency on these platforms. Nft Stretch Fur
You can swap the fiat currency you have with a your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, the wallets still more compatible with it than others. Since it is built mainly using an 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 much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency using the credit card. Nft Stretch Fur
For more information about the service, you can check their FAQs to get an overview of how you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and cons here:
Pros
- Mobile apps available for iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto industry and NFTs.
Cons
- Allows royalties 10% to artists (low royalty).
- It is not possible to buy or sell items through our mobile apps.
- Only supports cryptocurrency as its method of payment.
- An Crypto account is needed to access this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can easily recover that amount when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Nft Stretch Fur
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists using the platform to market NFTs due to its no gas fees and the low commission rate which you are required to pay.
You can browse and shop for an array of digital items on the NFT marketplace and you must go through it!
Is OpenSea real and safe?
Answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year 2018. Because its system is built on a blockchain, it is safe to claim that your transactions are safe and secure.
Furthermore as a seller you can become verified once you have built up your credibility. A blue checkmark will appear to your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are protected.
How do I earn royalties on OpenSea?
However, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is thought to be quite low in comparison with others NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) has been frequently utilized on this website and many others to accommodate more cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before there’s an official mobile app from OpenSea that is available for iOS as well as Android. You can download it through their app store and you can start 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 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/).
