Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto-coins. Markets have popped up all over the digital web designed to sell and buy NFTs with cryptocurrency! OpenSea can be one and is worth checking out.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It has become one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea and also see the NFTs that you can see!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Without Me
The aim of OpenSea was to offer an online marketplace for artists to upload their commissions, without having to pay any additional charges. It also has additional functions that let you sell your art without too many problems.
For registration, you don’t need to provide any personal information about yourself. All you have to connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that and without many hurdles as you walk into NFTs.
The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system 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 it is possible to choose which one you would like to publish your NFT as a seller. This is to ensure the security of your NFT and the people who want to buy it. All transactions will be made by using the blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name to an official artwork by an artist you admire. Anyone can be a seller however, it takes a while before anyone can become an established one.
There is a wide variety of NFTs available on OpenSea and you could become a part of the collection! You can start your own market there, and also find NFTs you want to purchase yourself.
What is an NFT?
In a recent advancement for the crypto 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 is. Let’s look at what an NFT is for anyone who is new in cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible currency which is extremely individual and cannot be substituted. It can be a piece of rarity like rare baseball trading cards in mint condition, or a uncommon vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you can sell online. It is simpler to just consider the NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting is similar to calling for dibs on your own NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to the marketplace, and you’re offering it for sale. Typically, this is official once you fill out the proper information regarding the NFT and then upload it to the marketplace.
On OpenSea, it’s a simple procedure to create your own NFTs. All you have to do is visit the store and then making a collection to begin! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use it with (e.g., blockchain, payments tokens). After that then you’re able to upload it, if it’s within the 100 MB limit.
It is possible to wait and see how the transactions go from here on out to see if OpenSea is the best marketplace for you.
What NFTs can you get here?
At this point, you’re probably wondering what kind of NFTs be found here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT that you can purchase is unlimited as there’s a variety of how you can go about it.
You could be selling trade cards, digital goods games, domain names, and even physical assets! Find out what you think will bring the greatest rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from other companies. There are zero gas fees for using this feature to mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you won’t have to spend on extra fees.
Very few NFT marketplaces provide this feature, so this can be a fantastic way to make a huge profit from your portfolio.
The Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets that offer rewards when you refer your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which allows you to earn more cash from this act.
Other NFT marketplaces do not have this kind of feature either and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal You can also trade your fiat currency for cryptocurrency using these platforms. Nft Without Me
You can convert your fiat money via your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:
- Bittrex and other things!
Each of them has the option to exchange for ETH which is the most common cryptocurrency payment option in OpenSea.
While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, wallets are still more compatible with it than other. Since it is built on the ETH blockchain, any wallets that share the same network are suitable for this website.
Here’s a list several crypto wallets you can use in OpenSea:
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to buy cryptocurrency using a credit card. Nft Without Me
To know more about it, you can check their FAQs to see a rundown of how you can begin and what other crypto wallets are compatible with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto industry and NFTs.
- Allows royalties of only 10% to artists (low royalty).
- It is not possible to buy or sell items via our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- An Crypto digital wallet must be used to access this marketplace.
OpenSea is open to everyone who has crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. But overall, you can quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Nft Without Me
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists using the platform to market NFTs because of its zero cost of gas and low commission fee rate which you are required to pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace which is why you should definitely go through it!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea is a reputable marketplace since it was founded in the year 2018. Because its system is built on a blockchain that is secure, you can claim that your transactions are protected and secured.
Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will be assigned to your account or the collection that you have uploaded to assure any customer. The team at OpenSea regularly checks the contents to ensure users are safe.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you will be paid only 10% of the royalties once you upload the NFT. This is believed to be a reasonable amount compared to the other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been widely utilized on this website and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
These are the cryptocurrencies that you can use for OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile application?
As mentioned before, there is definitely an official mobile application from OpenSea that is available for iOS as well as Android. You can download it through their app store and you can start browsing through the collection right now!
A desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app, you can manage multiple accounts and receive notifications about updates to 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/).