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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto coins. Markets have popped up all over the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea before for a good reason. It’s one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.

Now hop aboard, and let’s see what you can do with 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 overview. After, you will want to read the rest of the article for a more comprehensive review.

OpenSea as an NFT Marketplace Nft Xwg

The goal of OpenSea was to offer artists with a marketplace/platform to upload their commissions, without having to pay any additional costs. It also has additional functions that let you sell your art without too many difficulties.

When it comes to the registration process, you don’t have to provide too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology and is used to carry out the majority of processes. It also functions on the Polygon blockchain, which ensures the lowest cost and speediest trading.

There are two types of blockchains, you can choose which one you would like to upload your NFT on as an seller. This ensures the safety of your NFT as well as those who would like to buy it. All transactions are made by using the blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name, to a piece of art by an artist you admire. Anyone can be a seller however, it takes time for anyone to be an established seller.

There are a variety of NFTs from the selection of NFTs available at OpenSea, and you can become a part of this! 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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> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials have heard of it but not exactly sure what it actually means. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.

One of the latest ways you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible currency which is extremely unique and can’t be changed. 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 could be, since it’s a non-fungible item you’re selling online. It is simpler to simply consider the NFT being a virtual collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling the shots for your personal NFTs. You’re claiming the ownership of the particular item that you posted to the marketplace, and you’re putting it up for sale. Usually, this is recognized 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 by going to the store and simply create a collection! Fill out the proper and correct information regarding your NFT and select the type of settings you’d like to use for it (e.g. blockchain, payment tokens). Once that’s all done then you’re able to upload it, if it’s within the 100 MB limit.

You can watch and see the way transactions are handled from now to see whether OpenSea is the marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs are available here?

In this moment you’re probably asking yourself the kind of NFTs you shop for here, and what you could also sell if you choose to go that route. The kind of NFT it is indefinite because there’s a wide range of how you can go about it.

You could be selling digital products, trading cards game assets domain names, some physical items! Explore what you believe can reap the best rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas for using this feature when you mint and sell NFTs. This is essentially a way to ensure that you get the most profit when you start selling because you won’t need to spend on additional fees.

There aren’t many NFT marketplaces have this feature, so this is a great way to earn a high return from your collection.

Referral Program

A Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets, you can receive benefits by referring your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can make more money by this method.

Other NFT marketplaces don’t offer the same feature and that’s another advantage OpenSea has over them.

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> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell anything 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 anything, you can still at least explore the products you’re interested in on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available to you You can also trade your fiat currency for cryptocurrency using these platforms. Nft Xwg

You can convert your fiat currency using a your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:

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

Each of them has the option of converting them into ETH which is the most common crypto payment in OpenSea.

Crypto Wallets

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 others. Because it is based using the ETH blockchain, wallets that share this network are appropriate for this site.

Here’s a list different crypto wallets you can utilize in OpenSea:

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

*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency with credit cards. Nft Xwg

For more information about the service to learn more, check out their FAQs for the steps you can start and which other wallets are compatible with OpenSea.

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> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

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

Pros

  • Mobile apps available for iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto world and NFTs.

Cons

  • Allows royalties 10% to artists (low royalty rates).
  • You cannot buy or sell products via this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • A Crypto account is needed to access this marketplace.

Pricing

OpenSea is available to anyone who has any crypto currency in their cryptocurrency 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 recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions Nft Xwg

What is OpenSea?

OpenSea is an NFT marketplace that seeks to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use the platform to market NFTs because of its zero cost of gas and low commission fees which you are required to pay.

You can browse and shop for a vast collection of digital products on this NFT marketplace and you must go through it!

Is OpenSea real and safe?

The short answer is yes! OpenSea is a reputable marketplace since its inception at the end of the year 2018. Because its system is built on a blockchain, it is safe to claim that your transactions are safe and secure.

Furthermore as a seller you can become verified once you build up your reputation. A blue checkmark is placed next to your account or collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are safe.

How do 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 to the other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) can be frequently utilized on this website and many others to accommodate the increasing number of crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

What are the payment options for OpenSea?

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

Does OpenSea has a mobile or desktop app?

As previously mentioned There is an official mobile app by OpenSea available for both iOS as well as Android. Download it at their respective app store, and you can start exploring the collection right now!

There is also a desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts and get notifications about updates to your account from 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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> > Click Here to Explore OpenSea < <

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