Nft Top Plays

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The cryptocurrency market is on the rise and you’re probably wondering where you can invest your crypto-coins. Markets have popped up across the internet, designed to purchase and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth looking into.

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

Get on board, and let’s explore the possibilities of OpenSea as well as examining the NFTs available to view!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you will want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Top Plays

The purpose to create OpenSea was to provide a platform/marketplace for artists to easily upload their commissions with no additional charges. There are additional features that allow you to sell your artwork without any difficulties.

For registration, you won’t have to worry about giving all of your personal details. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology and is used for the majority of transactions. It also functions on the Polygon blockchain, which ensures lower costs and faster trading.

With these two kinds of blockchains available, you can choose which one you want to upload your NFT on as a seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions will be made using this blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything the simplest domain name to official art by an artist you admire. Anyone can sell however it takes some time for anyone to be an established one.

There are a variety of NFTs in the collection on OpenSea, and you can also be a part of the collection! You can set up your own personal market here, along with finding NFTs you’d like to buy yourself.

Nft Top Plays

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What is an NFT?

In a recent development for the crypto industry,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials are familiar with it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the latest ways you can buy can be an NFT. A NFT is a non-fungible currency that is very exclusive and cannot be substituted. This can be an item of any rareness, such as authentic baseball cards, or a uncommon vinyl record.

There’s no limit to what an NFT can be since it’s a non-fungible thing you’re selling on the internet. In simpler terms, you could just consider the NFT as a digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots on your own NFTs. You are calling ownership over that particular token/item you uploaded on the marketplace, and you’re offering it for sale. Typically, this is official when you have filled in the proper information regarding the NFT and submit it for sale on.

On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and simply making a collection to begin! Complete the correct and complete information about your NFT and choose what kind of settings you want for it (e.g., blockchain, payments tokens). After you’ve completed the process you are able to upload it if it fits the 100 MB limit.

You can wait and observe how transactions progress from now on to see if OpenSea is the best marketplace for you.

cryptocurrency-coins

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What NFTs can you find here?

So, at this point, you’re probably wondering the kind of NFTs can be purchased here and what kind of NFTs you can also sell if you decide to go that route. The type of NFT it is indefinite since there’s a broad range of ways to go about it.

It is possible to sell trade cards, digital goods game assets, domain names, and also physical goods! Find out what you think will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that separates OpenSea from the other options. There’s no cost for gas when you utilize this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you won’t have to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, and it is great for you to make a huge profit from your portfolio.

Referral Program

A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces that offer advantages when you refer your 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 means you can earn more money from this act.

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

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Mobile Application

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

OpenSea’s mobile apps are available for the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are for you to use to trade your fiat currency for cryptocurrency using these platforms. Nft Top Plays

You can swap the fiat currency you have with a credit card or Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and more!

All of them have the option of converting them into ETH that is the primary crypto payment in OpenSea.

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, wallets are nevertheless more compatible than others. Since it is built around the ETH blockchain, any wallets with a connection to the same network are suitable 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: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, only mobile usage and the ability to purchase cryptocurrency with credit cards. Nft Top Plays

To know more about it You can go through their FAQs to see an overview of how you can start and also what other crypto wallets work with OpenSea.

ethereum-coins

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Pros and Cons of OpenSea

Like many crypto marketplaces 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 for iOS or Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties of only up to 10% for artists (low royalty rates).
  • It is not possible to buy or sell items via the mobile app.
  • Only supports cryptocurrency as its method of payment.
  • A Crypto account is needed for this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly regain that when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft Top Plays

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to give artists a chance to sell their works online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists who use the platform to market NFTs because of its zero cost of gas and the low commission rate you must pay.

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

Is OpenSea legit & secure?

Short answer: Yes! OpenSea is a reputable marketplace since its inception at the end of the year of 2018. Since the system it operates on is built on blockchain technology, it is safe to claim that your transactions are safe and secure.

Furthermore as a seller you will be verified after you’ve earned a reputation. A blue checkmark will be assigned to your account or any collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are secure.

How can I earn royalties from OpenSea?

Unfortunately, as an artist, you can receive only up to 10 percent of the royalties when you upload the NFT. This is thought to be a reasonable amount compared with others NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) has been commonly used on this site and other sites to provide more 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 options for OpenSea?

OpenSea only allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea have a desktop or mobile application?

As previously mentioned There is an official mobile app by OpenSea available for both iOS and Android. Download it at their respective app store, and then you can begin exploring the collection now!

The version for desktops that OpenSea which can be downloaded from WebCatalog. In the desktop application you can 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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