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The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto currency. Markets have popped up across the web that allow users to sell and buy NFTs via cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re interested in crypto you’ve probably heard of OpenSea previously for a valid reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.

So, hop on board and discover what you can do with OpenSea as well as examining the NFTs that you can see!

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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 our article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Top

The aim of OpenSea was to simply provide a platform/marketplace for artists to upload commissions with no additional charges. There are additional features that let you sell your art without too many difficulties.

In terms of the registration process, you don’t have to provide any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for the majority of transactions. It is also based on the Polygon blockchain, which allows for low-cost and quicker trading.

There are two types of blockchains available, you can choose which one you’d like to transfer your NFT to as a seller. This is to ensure the security of your NFT and the people who want 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’s an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art from an artist you admire. Anyone can be a seller however it takes time for anyone to be a reputable one.

There are a variety of NFTs of NFTs available of NFTs available at OpenSea and you could become a part of the collection! You can set up your own market on this site, as well as find NFTs that you would like to purchase for yourself.

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What is an NFT?

A recent change in the crypto market”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials have heard of it but aren’t sure exactly what it means. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.

One of the latest ways you can buy can be an NFT. A NFT is a non-fungible token that is unique and can’t be replaced. It could be an item of any rarity like mint-condition baseball trading cards or rare vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible item that you can sell online. In simpler terms, you could simply think of as an NFT to be a type of digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. You’re claiming the owner of the item or token that you have uploaded to the marketplace, and putting it up for sale. Typically, this is official once you fill out the correct information about the NFT and finally upload it to the marketplace.

On OpenSea It’s a very simple process to mine your NFTs. All you have to do is visit the store and then creating a collection to start! Input the appropriate and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain and payment tokens). After you’ve completed the process, you can finally upload it, if it’s within the limit of 100MB.

You can watch and see how the transactions go from now to see whether OpenSea is the best marketplace for you.

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What NFTs can you find here?

At this point you’re probably thinking about what kind of NFTs can be purchased here, and what you could also sell if you decide to go that route. The kind of NFT it can be is indefinite since there’s a broad range of how you can approach it.

You can be selling digital items, trading cards game assets, domain names, and also physical goods! Consider what you believe will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager function is the one that separates OpenSea from other companies. There’s no cost for gas when you use this feature when you create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t have to spend on any additional charges.

There aren’t many NFT marketplaces offer this feature, so this can be a fantastic way to make a huge profit from your NFT collection.

Referral Program

The Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets there are benefits when you refer your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, letting you earn more money from this act.

Other NFT marketplaces don’t offer the same feature This is a further benefit OpenSea has over the other marketplaces.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listings.

The mobile apps of OpenSea are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell something, you can explore the products you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available at your disposal, and you can convert your fiat money into cryptocurrency on these platforms. Nft Top

You can exchange your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:

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

All of these have the option of converting them into ETH that is the most common cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, wallets are nonetheless more compatible than other. Because it is based on the ETH blockchain, wallets with a connection to this network are appropriate for this site.

Here is a list of various crypto wallets that which you can use with OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and more!

Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage and the ability to purchase cryptocurrency with a credit card. Nft Top

To know more about it to learn more, check out their FAQs for the steps you can begin and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:

Pros

  • Available as mobile apps for iOS or Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalties up to 10% for artists (low royalty).
  • Cannot buy or sell through this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • The use of a Crypto wallet is required to use this marketplace.

Pricing

OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will easily recover that amount when you are actively selling since there is no additional fee for it.

Frequently Asked Questions Nft Top

What is OpenSea?

OpenSea can be described as 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 ideal option for artists who want to use it to sell NFTs because of its zero cost of gas and low commission fees that you have to pay.

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

Is OpenSea legitimate and is it safe?

The short answer is yes! OpenSea is a reputable marketplace since it was established in the year 2018. Since its system is built on a blockchain that is secure, you can claim that your transactions are secure and safe.

Furthermore, as a seller, you can become verified once you have built up your credibility. A blue checkmark will be assigned on your account or the collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the content to ensure users are protected.

How can I earn royalties on OpenSea?

However, as an artist, you can get only 10 percent of the royalties after you have uploaded the NFT. This is considered to be a reasonable amount compared to others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) can be widely used on this site and many others to accommodate the increasing number of cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use to use OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop application?

As previously mentioned There is an official mobile app by OpenSea available for both iOS or Android. You can download it through their app store, and you can start exploring the collection now!

The Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts and receive notifications about updates to 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/).

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