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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto currency. Marketplaces are popping up all over the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is among them and is worth looking into.

If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid transactions.

Get on board, and let’s see the possibilities of OpenSea as well as examining what NFTs you can view!

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Before you go on, 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 Grow

The aim for OpenSea was to offer a platform/marketplace for artists to upload commissions without any extra charges. There are additional features which allow you to market your work without having to deal with many difficulties.

When it comes to the registration process, you don’t have to worry about giving all of your personal details. All you need to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that without going through 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, which is the system that runs it, and this is used for most processes. It is also based with the Polygon blockchain to ensure low-cost and quicker trading.

With these two kinds of blockchains available it is possible to choose which one you want to transfer your NFT to as seller. This is to ensure the security of your NFT and those who wish to buy it. All transactions will be made along with this blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name to official art by an artist you admire. Anyone can become a seller however it takes a while before anyone can become an established one.

There is a wide variety from the selection at OpenSea and you could also be a part of this! You can set up your own personal market here, along with finding NFTs you’d like to buy for yourself.

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What is an NFT?

In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on internet that a lot of millennials have heard of it but aren’t exactly sure what it actually means. 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 includes an NFT. An NFT is a token that is non-fungible that is very unique and can’t be substituted. This can be a piece of rarity like mint-condition baseball trading cards, or a unique vinyl album.

There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling online. More straightforwardly, you can just consider the NFT as a digital item that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you posted to the marketplace, and you’re selling it. Usually, this becomes official after you fill in all the necessary information about the NFT and submit it for sale on.

On OpenSea, it’s a simple process to mine your NFTs by visiting 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 or money transfer tokens). Once that’s all done then you’re able to upload it if it fits the 100 MB limit.

It is possible to wait and see how transactions progress from now to determine whether OpenSea is the best marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs can you find here?

In this moment, you’re probably wondering the kind of NFTs you shop for here, and what you could sell should you decide to pursue that route. The kind of NFT that you can purchase isn’t limited as there’s a variety of ways to go about it.

It is possible to sell trade cards, digital goods games domain names, some physical items! Explore what you believe can yield the most profit by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager feature is what differentiates OpenSea from the others. There are no gas costs for using this feature to create and market NFTs. This is essentially a way to ensure that you get the most profit when you sell because you won’t have to spend on extra fees.

Not many NFT marketplaces provide this feature, so this is a great way to receive high profit from your collection.

Referral Program

A Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets there are rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50% of the sale amount, which allows you to make more money from this act.

Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea has over the other marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. You can’t buy or sell items as you browse through the listing.

The mobile apps from OpenSea are accessible on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are to you, and you can trade your fiat currency for cryptocurrency through these platforms. Nft System Grow

You can convert the fiat currency you have with a your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

All of them have the option to exchange for ETH which is the standard crypto payment in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than others. Since it is built using the ETH blockchain, any wallets that share the same network are suitable for the site.

Here is a list of various crypto wallets that which you can use with OpenSea:

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

*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency using the credit card. Nft System Grow

To learn more about it You can go through their FAQs to get the steps you can get started and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:

Pros

  • Available as mobile apps 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).
  • You cannot buy or sell products via this mobile application.
  • Only accepts cryptocurrency as a type of payment.
  • The use of a Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft System Grow

What is OpenSea?

OpenSea is an NFT marketplace that aims to provide artists a platform to sell their works online and receive cryptocurrency as their form of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its low gas fees and the low commission rate which you are required to pay.

You can browse and shop for an array of digital goods in this NFT marketplace which is why you should definitely check it out!

Is OpenSea legitimate and safe?

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

In addition as a seller you can become verified once you build up your reputation. A blue checkmark is placed to your account or any collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the content to ensure users are secure.

How can I earn royalties from OpenSea?

As an artist, you can get only 10 percent of the royalties when you upload the NFT. This is thought to be reasonably low compared against the other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) is widely used on this site as well as many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the cryptocurrencies that you can utilize for 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 be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop or mobile application?

As mentioned before There is an official mobile app by OpenSea that is available for iOS or Android. Install it from their app store, and begin browsing through the collection right now!

The version for desktops that OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications on updates regarding your account from 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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