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Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto-coins. There are numerous marketplaces popping up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re interested in crypto, you’ve probably heard about OpenSea prior to this for a valid reason. It’s one of the largest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.

Now hop aboard, and let’s see the possibilities of OpenSea and also see the NFTs available to view!

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Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Nft Uri

The goal for OpenSea was to simply provide a platform/marketplace for artists to upload their commissions with no additional fees. It also has additional functions that let you sell your art without too many issues.

When it comes to registration, you won’t have to provide any personal information about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for most processes. It also functions using the Polygon blockchain, which ensures low-cost and quicker trading.

With these two types of blockchains, you can choose which one you’d like to upload your NFT on as seller. This is to ensure the security of your NFT and those who would like to buy it. Every transaction will be conducted along with this blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name to an official artwork from an artist that you admire. Anyone can sell however, it takes time before anyone can become an established one.

There is a wide variety from the selection of NFTs available at OpenSea and you can join in with the collection! You can create your own personal 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?

In a recent advancement for 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 are familiar with it but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.

One of the new things you can purchase your cryptocurrency can be an NFT. The NFT is a non-fungible currency which is extremely exclusive and cannot be substituted. It could be a piece of rareness, such as authentic baseball cards or a unique vinyl album.

There is no limit to what an NFT can be since it’s a non-fungible object that you sell on the internet. In simpler terms, you could just imagine as an NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs on your own NFTs. It is a way of claiming the owner of the item or token that you have uploaded to market, as selling it. Typically, this is official after you fill in the proper information regarding the NFT and then submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs by visiting the store and creating a collection to start! Input the appropriate and correct information regarding your NFT and choose what kind of settings you want for it (e.g. blockchain, money transfer tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.

You can watch and see how transactions progress from here on out to see whether OpenSea is the marketplace for you.

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What NFTs can you get here?

At this point you’re probably thinking about the kind of NFTs can you shop for here, and what you could sell should you decide to pursue that route. The kind of NFT it can be isn’t limited as there’s a variety of how you can do it.

It is possible to sell digital products, trading cards game assets, domain names, and even physical assets! Explore what you believe can bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that sets OpenSea from other companies. There are no gas costs for using this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you don’t need to pay on any additional charges.

Not many NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your NFT collection.

Referral Program

The Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces that offer advantages by referring your friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there 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 this kind of feature either This is a further advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it’s mostly used to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.

The mobile apps from OpenSea are accessible on the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can look through the options you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are at your disposal to trade your fiat currency for cryptocurrency on these platforms. Nft Uri

You can convert your fiat money via credit card or Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

All of these have the option to exchange for ETH that is the standard crypto payment in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all types of crypto, wallets are nonetheless more compatible than others. Because it is based on the ETH blockchain, all wallets with a connection to that network will be suitable for this website.

Here’s a list several crypto wallets which you can use with OpenSea:

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each has its own limitations like easy registration, use on mobile devices only and the ability to buy cryptocurrency using the credit card. Nft Uri

To know more about it You can go through their FAQs for an overview of how you can begin and which other wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and pros here:

Pros

  • Mobile apps are available for iOS and Android.
  • Smart contracts are utilized 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 royalties 10% to artists (low royalty rates).
  • You cannot buy or sell products via our mobile apps.
  • Only accepts cryptocurrency as a type of payment.
  • The use of a Crypto wallet is required to use this marketplace.

Pricing

OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Nft Uri

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to give artists a chance for selling their artwork online to receive cryptocurrency as their form of payment. It’s a great platform for artists who use it to sell NFTs because of its zero cost of gas and the low commission rate which you are required to pay.

You can shop and browse a vast collection of digital goods in this NFT marketplace and you must check it out!

Is OpenSea real and safe?

Answer: Yes! OpenSea has been a reliable marketplace since it was established in the year of 2018. Since its system is built on a blockchain that is secure, you can claim that your transactions are protected and secured.

In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned on your account or any collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are protected.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison with others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) has been widely used on this site as well as other sites to provide the increasing number of crypto users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can make use of to access OpenSea.

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

OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal for the transaction.

Does OpenSea has a mobile or desktop app?

As mentioned before There is an official mobile app by OpenSea that is available for iOS or Android. You can download it through 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. In the desktop application, you can manage multiple accounts and receive notifications on updates regarding 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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