The cryptocurrency market is on the rise, and you’re probably wondering where to invest your crypto coins. Markets have popped up all over the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea can be one and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It has become one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
Get on board, and discover the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Timer Intervals
The purpose for OpenSea was to offer a platform/marketplace for artists to upload commissions, without having to pay any additional costs. It also has additional functions that allow you to sell your artwork without any problems.
When it comes to the registration process, you don’t have to provide all of your personal details. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for most processes. It also functions with the Polygon blockchain to ensure low-cost and quicker trading.
With these two types of blockchains available it is possible to choose which one you’d like to transfer your NFT to as a seller. This will ensure the security of your NFT as well as those who wish to purchase it. All transactions are made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs for other NFTs. You can purchase anything from the simplest domain name, to a piece of art by an artist you admire. Anyone can become a seller however, it takes a while for anyone to be an established one.
There are a variety of NFTs in the collection of NFTs available at OpenSea and you could become a part of this! You can create your own marketplace here, along with finding NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry, the term “NFT” has been going around for so long on internet that a lot of millennials are familiar with it , but not exactly sure what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways you can buy is an NFT. The NFT is a non-fungible token that is very individual and cannot be changed. It can be a piece of rarity like rare baseball trading cards in mint condition, or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell on the internet. More straightforwardly, you can just consider as an NFT to be a type of digital item which is only paid in cryptocurrency.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming the ownership of the particular item that you have uploaded to market, as selling it. Typically, this is official after you fill in all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and simply create a collection! Input the appropriate and complete information about your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain and payment tokens). Once that’s all done you are able to upload it to the internet if it’s in the limit of 100MB.
You can watch and see how the transactions go from here on out 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 purchased here and what you can also sell if you choose to go that route. The type of NFT it is unlimited since there’s a broad range of options for how to go about it.
You could be selling digital items, trading cards games domain names, even physical assets! Explore what you believe can reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas when you use this feature when you mint and sell NFTs. This is essentially a way to ensure that you get the most profit when you begin selling since you won’t have to spend on extra fees.
Very few NFT marketplaces offer this feature, and it is great for you to earn a high return from your portfolio.
Referral Program
The Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets there are benefits when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, letting you make more money by this method.
Other NFT marketplaces don’t offer this kind of feature either This is a further 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. It isn’t able to purchase or sell anything while you browse through the listings.
The mobile apps of OpenSea are available for both iOS as well as Android. Even though you can’t buy or sell things, you can look through the options you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use to trade your fiat currency for cryptocurrency using these platforms. Nft Timer Intervals
You can swap your fiat money via your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option to exchange for ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of crypto, wallets are nonetheless more compatible than others. Because it is based using an ETH blockchain, any wallets that share this network are appropriate for this website.
Here is a list of different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, mobile-only usage and the ability to purchase cryptocurrency using credit cards. Nft Timer Intervals
To learn more about it to learn more, check out their FAQs to see an overview of how you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps are available 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 royalty rates of up to 10% for artists (low royalty rates).
- It is not possible to buy or sell items on this mobile application.
- Only accepts cryptocurrency as a type of payment.
- An Crypto wallet is required for 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% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Nft Timer Intervals
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform to sell their works online to receive cryptocurrency as a form of payment. It’s an ideal option for artists who want to use for selling NFTs because of its zero gas costs and low commission fees which you are required to pay.
You can browse and shop for an array of digital items on the NFT marketplace which is why you should definitely go through it!
Is OpenSea legit & secure?
Short answer: Yes! OpenSea has been a reliable marketplace since it was founded in 2018. Since the system it operates on is built on blockchain technology, it is safe to claim that your transactions are protected and secured.
Furthermore as a seller you will be verified after you have built up your credibility. A blue checkmark will appear on your account or collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure users are protected.
How can I earn royalties on OpenSea?
As an artist, you can be paid only 10 percent of the royalties after you have uploaded the NFT. This is believed to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been frequently utilized on this website and other sites to provide more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier, there is definitely an official mobile app from OpenSea that is available for iOS and Android. Download it at their respective app store, and begin exploring the collection now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts as well as receive notifications on updates regarding 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/).
