The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto currency. Marketplaces are popping up across the web that allow users 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 likely heard of OpenSea previously for a valid reason. It’s one of the biggest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s explore what you can do with OpenSea as well as examining the NFTs that you can see!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft To Invest In Now
The aim for OpenSea was to offer a platform/marketplace for artists to upload their commissions without any extra charges. There are additional features which allow you to market your work without having to deal with many problems.
In terms of registration, you won’t have to worry about giving too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for the majority of transactions. It is also based with the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains you can pick which one you’d like to upload your NFT on as an seller. This is to ensure the security of your NFT and those who would like to buy it. All transactions are made using this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist you admire. Anyone can sell, but it takes some time before anyone can become an established one.
There are a variety of NFTs in the collection on OpenSea, and you can become a part of the collection! You can set up your own market there, and also find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for 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 a lot of millennials have heard of it but not exactly sure what it actually means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the newest things you can buy is an NFT. A NFT is a token that is non-fungible that is exclusive and cannot be changed. It can be a piece of rareness, such as mint-condition baseball trading cards, or a rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling online. In simpler terms, you could simply imagine an NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. It is a way of claiming the ownership of the particular item that you posted to market, as selling it. Usually, this is recognized once you fill out all the necessary information about the NFT and add it on the market.
On OpenSea It’s a very simple procedure to create your own NFTs by going to the store and then creating a collection to start! Input the appropriate and accurate information about your NFT and select the type of settings you want for it (e.g., blockchain and money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.
You can watch and see the way transactions are handled from now to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment, you’re probably wondering what kind of NFTs be purchased here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT it is indefinite as there’s a variety of options for how to approach it.
It is possible to sell digital products, trading cards, game assets, domain names, and also physical goods! Consider what you believe will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the others. There’s no cost for gas when you use this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t need to spend on additional fees.
Not many NFT marketplaces provide this feature, so this can be a fantastic way to receive high profit from your collection.
Referral Program
A Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets, you can receive advantages by referring a friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from the site you’ll earn 2.50% of the sale amount, which allows you to make more money by this method.
Other NFT marketplaces don’t have this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. You can’t buy or sell anything while you browse through the listing.
The mobile apps of OpenSea are available on both iOS and Android. Although you aren’t able to purchase or sell something, you can explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal, and you can convert your fiat money into cryptocurrency through these platforms. Nft To Invest In Now
You can convert the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
Each of them has the option of 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 kinds of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built using an ETH blockchain, any wallets with a connection to the same network are suitable for this site.
Here’s a list different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations including simple registration, mobile-only usage, and the function to purchase cryptocurrency using the credit card. Nft To Invest In Now
To learn more about it, you can check their FAQs for an overview of how you can begin and also what other crypto wallets work 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 cons here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing 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).
- Cannot buy or sell on this mobile application.
- Only supports cryptocurrency as its method of payment.
- A Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Nft To Invest In Now
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists using it to sell NFTs because of its zero gas fees and low commission fees that you have to pay.
You can browse and purchase an array of digital products on this NFT marketplace, so you should take a look!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea is a reputable marketplace since it was established at the end of the year 2018. Because its system is built on a blockchain, it is safe to declare that transactions are secure and safe.
Additionally, as a seller, you will be verified after you have built up your credibility. A blue checkmark is placed to your account or any collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are protected.
How can I earn royalties from OpenSea?
As an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison against other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be widely used on this site as well as many others to accommodate more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to access OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can buy and trade cryptocurrency using reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop/mobile application?
As previously mentioned, there is definitely an official mobile application from OpenSea for both iOS as well as Android. You can download it through their app store, and begin exploring the collection now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts as well as receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
