The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea can be one and is worth a look.
If you’re interested in crypto, you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its safety and speedy transactions.
Get on board, and discover what you can do with OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Studios
The goal for OpenSea was to offer artists with a marketplace/platform to upload their commissions without any extra fees. It also has additional functions that allow you to sell your art without too many difficulties.
When it comes to the registration process, you don’t have to provide all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for most processes. It also functions on the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains available you can pick which one you would like to publish your NFT as a seller. This ensures the safety of your NFT, along with the people who want to buy it. All transactions are made using this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from the simplest domain name to an official artwork by an artist you admire. Anyone can become a seller, but it takes time before anyone can become an established seller.
There is a wide variety of NFTs available at OpenSea, and you can become a part of that! You can start your own personal market there, and also find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t sure exactly what it is. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can buy includes an NFT. A NFT is a token that is non-fungible which is extremely individual and cannot be replaced. This can be a piece of rarity like authentic baseball cards or unique vinyl album.
There is no limit to what an NFT can be since it’s a non-fungible thing you’re selling on the internet. More straightforwardly, you can just imagine an NFT being a virtual item paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You are calling the owner of the item or token you uploaded on the marketplace, and you’re offering it for sale. Typically, this is official after you fill in all the necessary information about the NFT and finally upload it to the marketplace.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and creating a collection to start! Complete the correct and correct information regarding your NFT and choose what kind of settings you want for it (e.g., blockchain and payment tokens). After you’ve completed the process you are able to upload it, if it’s within the limit of 100MB.
You can wait and observe how transactions progress from now to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point you’re probably asking yourself the kind of NFTs be found here and what you can also sell if you choose to go that route. The kind of NFT it can be is indefinite as there’s a variety of options for how to approach it.
You could be selling trade cards, digital goods game assets domain names, some physical items! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that sets OpenSea from the other options. There are zero gas fees when you use this feature when you create and market NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces provide this feature, which is why this is a great way to receive high profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets that offer benefits when you refer your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, letting you earn more cash by this method.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. You can’t buy or sell items as you browse through the listings.
The mobile apps of OpenSea are available for the two platforms of iOS as well as Android. While you’re not able to buy or sell anything, you can still explore the products you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available to you, and you can convert your fiat money into cryptocurrency through these platforms. Nft Studios
You can swap the fiat currency you have with a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option of exchange for ETH which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are still more compatible with it than others. Since it is built around the ETH blockchain, any wallets that share the same network are suitable for this site.
Here’s a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, only mobile usage as well as the capability to purchase cryptocurrency with credit cards. Nft Studios
For more information about the service You can go through their FAQs to see a rundown of how you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and pros 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 support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty rates).
- It is not possible to buy or sell items via this mobile application.
- Only accepts cryptocurrency as a form of payment.
- A Crypto account is needed to access 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 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Studios
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way for selling their artwork online to receive cryptocurrency as their form of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its no gas fees and low commission fees that you have to pay.
You can browse and shop for an array of digital products on this NFT marketplace and you must go through it!
Is OpenSea real and safe?
Short answer: Yes! OpenSea is a reputable 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, it is safe to claim that your transactions are secure and safe.
In addition, as a seller, you will be verified after 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 anyone who buys from you. OpenSea’s team regularly reviews the content to ensure that users are safe.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you can receive only up to 10 percent of the royalties when you have uploaded the NFT. This is considered to be a reasonable amount compared against others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is commonly utilized on this website and other sites to provide the increasing number of crypto users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to use OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop/mobile app?
As mentioned before there’s an official mobile app by OpenSea that is available for iOS or Android. Install it from their app store, and then you can begin exploring the collection now!
A desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts and receive alerts on any updates that affect 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/).
