Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto-coins. There are numerous marketplaces popping up all over the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea can be one and is worth looking into.
If you’re familiar with cryptocurrency you’ve likely heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
So, hop on board and discover what you can do with OpenSea as well as examining the NFTs available to view!
Before you go on, you may want to watch 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.
OpenSea as an NFT Marketplace Nft Top 400
The aim for OpenSea was to provide artists with a marketplace/platform to upload their commissions with no additional fees. It also has additional functions that allow you to sell your work without having to deal with many issues.
For registration, you don’t need to give all of your personal details. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as simple as that and without many hurdles as you walk 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 technology and is used for most processes. It also operates with the Polygon blockchain, which allows for lower costs and faster trading.
With these two types of blockchains available it is possible to choose which one you want to upload your NFT on as a seller. This ensures the safety of your NFT and the people who want to purchase it. All transactions will be made along with this blockchain, which is why you need to think about where you should 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. You can purchase anything from the simplest domain name to official art from an artist that you admire. Anyone can be a seller however, it takes a while for anyone to become a reputable one.
There’s a huge selection in the collection on OpenSea and you could also be a part of that! You can start your own marketplace there, and also find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry, the term “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it , but aren’t exactly sure what it is. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the latest ways you can purchase your cryptocurrency includes an NFT. The NFT is a non-fungible token that is exclusive and cannot be replaced. This can be a piece of rareness, such as mint-condition baseball trading cards, or a rare vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. In simpler terms, you could just think of as an NFT as a digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs on your own NFTs. You’re claiming ownership over that particular token/item you uploaded on the market place, but selling it. Usually, this is recognized once you fill out the proper information regarding the NFT and then submit it for sale on.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and making a collection to begin! Input the appropriate and complete information about your NFT and then select what type of settings you want for it (e.g. blockchain, money transfer tokens). Once that’s all done you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see the way transactions are handled from here on out to see 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 which kind of NFT can be purchased here, and what you could also sell if you decide to pursue that route. The type of NFT that you can purchase is unlimited since there’s a broad range of ways to do it.
It is possible to sell trade cards, digital goods games, domain names, and some physical items! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from other companies. There are zero gas fees when you use this feature when you create and market NFTs. This simply means that you’ll receive the maximum profits when you sell because you won’t need to spend on extra fees.
There aren’t many NFT marketplaces offer this feature, and it is great for you to earn a high return from your NFT collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces there are benefits when you refer a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, letting you earn more money through this action.
Other NFT marketplaces don’t offer this kind of feature either, so that’s just another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it is mainly used to browse the marketplace. It isn’t able to purchase or sell items as you browse through the listing.
The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. Although you aren’t able to purchase or sell things, you can look through the options you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available for you to use, and you can trade your fiat currency for cryptocurrency through these platforms. Nft Top 400
You can swap your fiat money via the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option of converting them into ETH, which is the most common cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built on an ETH blockchain, wallets which are part of the same network are suitable for this site.
Here’s a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, only mobile usage, and the function to purchase cryptocurrency with credit cards. Nft Top 400
To learn more about it, you can check their FAQs to get the steps you can get started 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 every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- Cannot buy or sell through the mobile app.
- Only supports cryptocurrency as its form of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Nft Top 400
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 excellent platform for artists who use it to sell NFTs due to its low gas costs and low commission fee rate you must pay.
You can browse and shop for an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and safe?
Answer: Yes! OpenSea is a reputable marketplace since it was founded at the end of the year of 2018. Since the system it operates on is built on blockchain technology that is secure, you can declare that transactions are secure and safe.
Furthermore, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or the collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the content to ensure that users are safe.
How can I earn royalties on OpenSea?
As an artist, you can get only 10 percent of the royalties when you have uploaded the NFT. This is thought to be reasonably low compared to the other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) is widely used on this site and many others to accommodate more cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use for OpenSea.
What are the payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As previously mentioned there’s an official mobile app by OpenSea for both iOS or Android. Install it from their app store, and then you can begin browsing through the collection right now!
The version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts and receive alerts on any updates that affect 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/).
