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The cryptocurrency market is on the rise and you’re probably wondering what you can do with your crypto-coins. Markets have popped up all over the digital web designed to buy and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.

If you’re interested in crypto, you’ve probably heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.

So, hop on board and let’s see what you can do with OpenSea and also see the NFTs available to view!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Superbowl

The purpose for OpenSea was to provide artists with a marketplace/platform to upload commissions without any extra costs. It has more functions that let you sell your work without having to deal with many difficulties.

In terms of the registration process, you don’t have to provide all of your personal details. 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 popular cryptocurrency used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized for most processes. It also operates with the Polygon blockchain to ensure low-cost and quicker trading.

With these two kinds of blockchains available you can pick which one you’d like to transfer your NFT to as a seller. This ensures the safety of your NFT, along with those who would like to buy it. All transactions will be made using this blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an online shopping mall that is endless where you can exchange your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name to official art from an artist you admire. Anyone can become a seller however, it takes some time before anyone can become an established seller.

There’s a huge selection from the selection of NFTs available at OpenSea and you could join in with the collection! You can start your own market there, and also find NFTs you’d like to buy yourself.

Nft Superbowl

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What is an NFT?

A recent change in the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but not exactly sure what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.

One of the newest things you can buy is an NFT. The NFT is a non-fungible currency that is very individual and cannot be changed. It could be an item of rareness like authentic baseball cards, or a uncommon vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible item that you can sell on the internet. In simpler terms, you could simply consider an NFT to be a type of digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You’re claiming the ownership of the particular item you uploaded on market, as putting it up for sale. Usually, this is recognized once you fill out the proper information regarding the NFT and submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs by going to the store and create a collection! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g. blockchain, payments tokens). Once that’s all done you are able to upload it if it fits the limit of 100MB.

You can wait and observe the way transactions are handled from now to see whether OpenSea is the best marketplace for you.

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What NFTs can you find here?

At this point you’re probably asking yourself what kind of NFTs can you shop for here, and what you could also sell if you choose to go down that path. The type of NFT that you can purchase is unlimited as there’s a variety of options for how to do it.

It is possible to sell trade cards, digital goods games, domain names, and some physical items! Find out what you think will reap the best rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager features is one of the things that separates OpenSea from the others. There are no gas costs when you use this feature when you mint and sell NFTs. This means you’ll be able to make the highest profits once you begin selling since you don’t need to pay on additional fees.

Very few NFT marketplaces have this feature, and it is great for you to earn a high return from your portfolio.

Referral Program

This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets, you can receive benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, letting you earn more cash from this act.

Other NFT marketplaces don’t have this feature This is a further advantage OpenSea has over the other marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. You can’t buy or sell items as you scroll through the list.

The mobile apps from OpenSea are accessible on both iOS and Android. Even though you can’t buy or sell something, you can look through the options you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are at your disposal, and you can trade your fiat currency for cryptocurrency through these platforms. Nft Superbowl

You can swap the fiat currency you have with a credit card or Paypal through these trusted sites to exchange it for crypto:

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

Each of them has the option of exchange for ETH that is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than other. Because it is based using the ETH blockchain, any wallets which are part of this network are appropriate for this website.

Here’s a list different crypto wallets which you can use with OpenSea:

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with a credit card. Nft Superbowl

For more information about the service to learn more, check out their FAQs to get the steps you can begin and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with 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 and Android.
  • Smart contracts are utilized for 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 10% to artists (low royalties).
  • It is not possible to buy or sell items on this mobile application.
  • Only supports cryptocurrency as its type of payment.
  • The use of a Crypto account is needed for this marketplace.

Pricing

OpenSea is open to everyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. However, overall, you will easily recover that amount when you actively sell because there’s no extra charge for it.

Frequently Asked Questions Nft Superbowl

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 receive cryptocurrency as a method of payment. It’s an ideal platform for artists using the platform to market NFTs because of its zero gas fees and low commission fees you must pay.

You can browse and purchase a vast collection of digital products on this NFT marketplace and you must check it out!

Is OpenSea legit & is it safe?

The short answer is yes! OpenSea has been a reliable marketplace since it was established at the end of the year 2018. Since its system is based on a blockchain that is secure, you can declare that transactions are safe and secure.

Furthermore as a seller you will be verified after you have built up your credibility. A blue checkmark is placed next to your account or collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the content to ensure that users are safe.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is believed to be a reasonable amount compared to others NFT marketplaces.

What cryptocurrency is accessible in OpenSea?

Ethereum (ETH) is frequently used on this site as well as numerous others to cater for many more cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can make use of to use OpenSea.

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

OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop app?

As we mentioned earlier There is an official mobile app by OpenSea that is available for iOS and Android. Download it at their respective app store and you can start exploring the collection now!

There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. On the desktop app you can manage multiple accounts and get alerts on any updates that affect 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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