The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the web that allow users to purchase and sell NFTs with cryptocurrency! OpenSea can be one, and it’s worth looking into.
If you’re interested in crypto, you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
So, hop on board and let’s see the possibilities of OpenSea and also see the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Walk Way
The goal to create OpenSea was to provide an online marketplace for artists to upload commissions, without having to pay any additional fees. It also has additional functions that allow you to sell your work without having to deal with many problems.
For registration, you won’t have to give 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 much hassle as you step into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also functions on the Polygon blockchain, which allows for low-cost and quicker trading.
With these two kinds of blockchains that are available it is possible to choose which one you’d like to publish your NFT as a seller. This is to ensure the security of your NFT as well as those who would like to purchase it. All transactions are made by using the blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist that you admire. Anyone can sell however, it takes time for anyone to become an established one.
There are a variety of NFTs from the selection at OpenSea and you could also be a part of this! You can create your own marketplace there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but not exactly sure what it means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the latest ways you can buy includes an NFT. A NFT is a non-fungible currency which is extremely exclusive and cannot be substituted. It could be an item of any rareness like mint-condition baseball trading cards, or a rare vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible thing that you can sell on the internet. More straightforwardly, you can just imagine an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots to your NFTs. It is a way of claiming the ownership of the particular item you uploaded on the marketplace, and you’re selling it. Usually, this is recognized when you have filled in the correct information about the NFT and then submit it for sale on.
On OpenSea, it’s a simple process to mint your NFTs by going to the store and simply creating a collection to start! Fill out the proper and correct information regarding your NFT and then select what type of settings you’d like to use it with (e.g., blockchain and payment tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can watch and see how the transactions go from now to see whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably asking yourself what kind of NFTs can be found here and what kind of NFTs you can also sell if you decide to pursue that route. The kind of NFT it can be isn’t limited since there’s a broad range of how you can go about it.
You can be selling digital products, trading cards games domain names, also physical goods! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that sets OpenSea from the others. There are zero gas fees when you use this feature when you make and then sell the NFTs. This means you’ll be able to make the highest profits once you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces have this feature, which is why this can be a fantastic way to receive high profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces there are benefits by referring a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the purchase amount, which allows you to make more money by this method.
Other NFT marketplaces do not have this feature, so that’s just another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used to browse through the marketplace. You can’t buy or sell anything while you browse through the listings.
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 anything, you can still at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are for you to use to trade your fiat currency for cryptocurrency using these platforms. Nft Walk Way
You can convert 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 more!
All of these have the option of exchange for ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built around the ETH blockchain, any wallets that share this network are appropriate for this website.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only, and the function to buy cryptocurrency using the credit card. Nft Walk Way
To learn more about it You can go through their FAQs to get the steps you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Available as mobile apps for iOS as well as Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties 10% for artists (low royalties).
- Cannot buy or sell on our mobile apps.
- Only supports cryptocurrency as its method of payment.
- The use of a Crypto account is needed to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Nft Walk Way
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way for selling their artwork online and receive cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no gas fees and low commission fees which you are required to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace and you must take a look!
Is OpenSea real and secure?
Answer: Yes! OpenSea is a reputable marketplace since it was founded in the year 2018. Since its system is based on a blockchain that is secure, you can say that your transactions are secure and safe.
In addition, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark will appear on your account or collection that you have uploaded to assure any customer. The OpenSea team reviews regularly the content to ensure that users are secure.
How can I earn royalties from OpenSea?
However, as an artist, you’ll receive only up to 10 percent of the royalties after you upload the NFT. This is believed to be reasonably low compared against others NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) is frequently used on this site as well as many others to accommodate more crypto 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 to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can buy and trade cryptocurrency using trusted platforms with 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 app?
As mentioned before There is an official mobile app by OpenSea available for both iOS and Android. You can download it through their app store and you can start browsing through the collection right now!
The desktop application for OpenSea which can be downloaded from 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/).
