Nft Worth Calculator

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Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto currency. There are numerous marketplaces popping up across the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea and also see the NFTs that you can see!

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

OpenSea as an NFT Marketplace Nft Worth Calculator

The aim to create OpenSea was to offer a platform/marketplace for artists to upload commissions with no additional fees. It also has additional functions that allow you to sell your work without having to deal with many difficulties.

For registration, you won’t have to provide too many details about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It also operates using the Polygon blockchain, which ensures low-cost and quicker trading.

With these two kinds of blockchains that are available, you can choose which one you would like to publish your NFT as an seller. This ensures the safety of your NFT as well as the people who want to purchase it. All transactions are made using this blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist you admire. Anyone can become a seller however, it takes time for anyone to be an established seller.

There is a wide variety from the selection on OpenSea and you could become a part of the collection! You can start your own market here, along with finding NFTs that you would like to purchase for yourself.

Nft Worth Calculator

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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 the majority of young people are familiar with it but aren’t sure exactly what it is. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.

One of the new things you can buy can be an NFT. A NFT is a non-fungible currency that is very unique and can’t be replaced. This can be a piece of rareness, such as authentic baseball cards or a rare vinyl record.

There is no limit to what an NFT can be since it’s a non-fungible item that you sell on the internet. It is simpler to just think of as an NFT to be a type of digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You’re claiming the owner of the item or token that you posted to market, as you’re selling it. Usually, this is recognized once you fill out all the necessary information about the NFT and then add it on the market.

On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and then create a collection! Input the appropriate and complete information about your NFT and select the type of settings you’d like for it (e.g. blockchain or payments tokens). After that, you can finally upload it if it fits the 100 MB limit.

You can watch and see how the transactions go from now on 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 you shop for here, and what you could sell should you decide to go that route. The type of NFT it is indefinite because there’s a wide range of options for how to go about it.

You can be selling digital products, trading cards, game assets, domain names, and also physical goods! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what sets OpenSea from the others. There are no gas costs when you utilize this feature to make and then sell the NFTs. This means you’ll receive the maximum profits when you begin selling since you won’t need to spend on any additional charges.

There aren’t many NFT marketplaces have this feature, and it is great for you to earn a high return from your NFT collection.

Referral Program

This Referral Program is a different aspect of OpenSea to be admired. Like traditional online marketplaces, you can receive benefits when you refer someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which allows you to earn more money from this act.

Other NFT marketplaces don’t offer the same feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse the marketplace. It isn’t able to purchase or sell items as you scroll through the list.

OpenSea’s mobile apps are available on both iOS in addition to Android. Even though you can’t buy or sell something, you can at least look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are for you to use, and you can convert your fiat money into cryptocurrency through these platforms. Nft Worth Calculator

You can convert your fiat money via credit card or Paypal through these trusted sites for cryptocurrency:

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

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

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than others. Because it is based around the ETH blockchain, any wallets which are part of that network will be suitable for this site.

Here is a list of several crypto wallets you can utilize in OpenSea:

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

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage as well as the capability to purchase cryptocurrency using credit cards. Nft Worth Calculator

To learn more about it You can go through their FAQs for an overview of how you can get started and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

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

Pros

  • Mobile apps are available that are compatible with iOS and Android.
  • Smart contracts are used for transactions.
  • High-level security , with the backing of blockchain.
  • The best option for beginners to the crypto market and NFTs.

Cons

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

Pricing

OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly regain that when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Nft Worth Calculator

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s an ideal platform for artists using it to sell NFTs because of its zero gas costs and the low commission rate that you have to pay.

You can shop and browse the vast array of digital goods in this NFT marketplace, so you should take a look!

Is OpenSea legitimate and secure?

Answer: Yes! OpenSea has been a trusted marketplace since it was founded at the end of the year of 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are safe and secure.

Additionally as a seller you will be verified after you have built up your credibility. A blue checkmark will appear to your account or any collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are secure.

How do I earn royalties from OpenSea?

As an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be quite low in comparison to the other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) can be frequently utilized on this website and other sites to provide more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

How do I pay for OpenSea? What are my payment methods 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 need just connect your debit or credit card to Paypal for the transaction.

Does OpenSea have a desktop/mobile app?

As we mentioned earlier there’s an official mobile application from OpenSea that is available for iOS as well as Android. Download it at their respective app store and you can start exploring the collection now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts and get alerts on any updates that affect 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/).

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