The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto coins. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea is one of them and is worth looking into.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the largest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
So, hop on board and let’s see the possibilities of OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to watch 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 Tips And Tricks
The purpose to create OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions without any extra fees. It has more functions which allow you to market your art without too many issues.
For registration, you don’t need to worry about giving any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized for the majority of transactions. It also operates with the Polygon blockchain to ensure low-cost and quicker trading.
With these two types of blockchains available, you can choose which one you would like to transfer your NFT to as a seller. This ensures the safety of your NFT and those who wish to purchase it. All transactions are made using this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can exchange your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name to an official artwork from an artist you admire. Anyone can become a seller, but it takes a while for anyone to be an established seller.
There are a variety of NFTs of NFTs available on OpenSea and you could join in with this! You can start your own personal market here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials are familiar with it but not exactly sure what it is. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible currency that is unique and can’t be changed. It could be an item of any rareness, such as authentic baseball cards or rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing that you sell online. It is simpler to just imagine as an NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item that you posted to market, as you’re putting it up for sale. Usually, this is recognized once you fill out all the necessary information about the NFT and then add it on the market.
On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and then create a collection! Input the appropriate and accurate information about your NFT and choose what kind of settings you want to use it with (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 determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably thinking about the kind of NFTs you shop for here and what you can also sell if you decide to pursue that route. The type of NFT that you can purchase is indefinite since there’s a broad range of options for how to do it.
You can be selling digital items, trading cards games domain names, even physical assets! Explore what you believe can bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the others. There’s no cost for gas for using this feature when you make and then sell the NFTs. This means you’ll be able to make the highest profits once you start selling because you won’t have to spend on extra fees.
Not many NFT marketplaces have this feature, which is why this is great for you to make a huge profit from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which allows you to make more money through this action.
Other NFT marketplaces don’t offer this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are at your disposal to convert your fiat money into cryptocurrency on these platforms. Nft Tips And Tricks
You can convert the fiat currency you have with a your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
Each of them has the option of converting them into ETH that is the standard cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based using an ETH blockchain, any wallets which are part of this network are appropriate for this website.
Here’s a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency with a credit card. Nft Tips And Tricks
For more information about the service to learn more, check out their FAQs to see the steps you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world 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 form of payment.
- An Crypto account is needed to use this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will quickly recover this amount if you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Tips And Tricks
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance to market their work online, and to accept cryptocurrency as a method of payment. It’s an excellent platform for artists who use it to sell NFTs due to its no gas costs and low commission fees that you have to pay.
You can browse and purchase the vast array of digital goods in this NFT marketplace and you must go through it!
Is OpenSea real and safe?
The short answer is yes! OpenSea has been a reliable marketplace since it was founded at the end of 2018. Because its system is built on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.
Furthermore, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or the collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties on OpenSea?
However, as an artist, you’ll be paid only 10 percent of the royalties after you upload the NFT. This is thought to be a reasonable amount compared against others NFT marketplaces.
What is the most popular cryptocurrency accessible 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 primary cryptocurrencies you can utilize for OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned There is an official mobile app by OpenSea available for both iOS or Android. Install it from their app store and then you can begin browsing through the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you are able to manage multiple accounts as well as receive notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
