Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto currency. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one and is worth looking into.
If you’re well-versed in cryptocurrency you’ve likely 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 security and quick transactions.
Now hop aboard, and discover what you can do with OpenSea as well as examining what NFTs you can view!
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 our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft System Crops
The aim of OpenSea was to provide a platform/marketplace for artists to easily upload their commissions with no additional costs. It also has additional functions which allow you to market your artwork without any difficulties.
In terms of the registration process, you don’t have to provide any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system, and this is used to carry out the majority of processes. It also operates on 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 publish your NFT as seller. This will ensure the security of your NFT as well as those who would like to buy it. All transactions are made using this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall that lets you trade your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can sell however, it takes time before anyone can become a reputable one.
There’s a huge selection from the selection at OpenSea, and you can also be a part of that! You can set up your own marketplace there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around 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 break down what an NFT is for any beginners in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency is an NFT. An NFT is a token that is non-fungible which is extremely exclusive and cannot be replaced. It can be an item of any rareness like rare baseball trading cards in mint condition or unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. It is simpler to just think of as an NFT as a digital 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 that you posted to the marketplace, and you’re offering it for sale. Usually, this becomes official after you fill in the correct information about the NFT and finally submit it for sale on.
On OpenSea it’s a straightforward process to mine 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 select the type of settings you’d like for it (e.g., blockchain, payment tokens). After that, you can finally upload it to the internet if it’s in the 100 MB limit.
You can watch and see how transactions progress from here on out to determine whether 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 thinking about what kind of NFTs be found here and what kind of NFTs you can also sell if you choose to go down that path. The kind of NFT it can be is indefinite since there’s a broad range of how you can approach it.
You could be selling digital items, trading cards game assets, domain names, and also physical goods! Explore what you believe can reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager features is one of the things that separates OpenSea from the others. There are zero gas fees when you use this feature to create and market NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you don’t need to pay on any additional charges.
Not many NFT marketplaces have this feature, and it is great for you to receive high profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces, you can receive rewards when you refer someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can earn more money through this action.
Other NFT marketplaces do not have this kind of feature either, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is 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 from OpenSea are accessible for the two platforms of iOS and Android. Although you aren’t able to purchase or sell anything, you can still at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you, and you can trade your fiat currency for cryptocurrency through these platforms. Nft System Crops
You can exchange your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option to exchange for ETH that is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly around an ETH blockchain, wallets which are part of this network are appropriate for the site.
Here’s a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only and the ability to buy cryptocurrency using credit cards. Nft System Crops
For more information about the service You can go through their FAQs to get the steps you can begin and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalty).
- It is not possible to buy or sell items through the mobile app.
- Only accepts cryptocurrency as a form of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft System Crops
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform to market their work online to receive cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs due to its no gas fees and low commission fees you must pay.
You can shop and browse the vast array of digital items on the NFT marketplace and you must check it out!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a reliable marketplace since its inception in the year 2018. Since its system is based on a blockchain and is secured, it is safe to declare that transactions are secure and safe.
Furthermore as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will appear next to your account or collection you uploaded to reassure every customer. The team at OpenSea regularly checks the content to ensure users are protected.
How can I earn royalties on OpenSea?
However, as an artist, you will get only 10 percent of the royalties when you have uploaded the NFT. This is considered to be quite low in comparison to the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be frequently used on this site and many others to accommodate many more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can utilize to use OpenSea.
What are the payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and trade cryptocurrency using 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 from OpenSea available for both iOS or Android. Install it from their app store, and then you can begin exploring the collection now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts and receive notifications on updates regarding 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/).
