The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. There are numerous marketplaces popping up all over the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces among cryptocurrency users because of its safety and speedy transactions.
So, hop on board and discover what you can do with OpenSea and also see the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Y El Arte
The purpose of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions, without having to pay any additional fees. It also has additional functions that allow you to sell your art without too many issues.
For registration, you won’t have to give any personal information about yourself. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that, without many hassles when you enter 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 which is utilized for the majority of transactions. It is also based with the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains that are available you can pick which one you would like to publish your NFT as a seller. This will ensure the security of your NFT, along with the people who want to buy it. All transactions are made using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name, to a piece of art from an artist you admire. Anyone can be a seller, but it takes a while for anyone to be a reputable one.
There is a wide variety of NFTs available at OpenSea and you could join in with this! You can create your own marketplace here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto industry,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people have heard of it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the latest ways you can buy is an NFT. An NFT is a non-fungible token which is extremely exclusive and cannot be replaced. It could be an item of rareness like rare baseball trading cards in mint condition, or a uncommon vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible item you’re selling on the internet. It is simpler to simply consider an NFT as a digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You are calling the ownership of the particular item that you have uploaded to the market place, but you’re offering it for sale. Typically, this is official after you fill in the correct information about the NFT and finally add it on the market.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and then making a collection to begin! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain, payments tokens). Once that’s all done you are able to upload it, if it’s within the 100 MB limit.
You can wait and observe how the transactions go from now to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably asking yourself the kind of NFTs can you shop for here and what you can also sell if you choose to go that route. The type of NFT it can be is unlimited because there’s a wide range of options for how to do it.
You can be selling digital products, trading cards games domain names, also physical goods! Consider what you believe will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that sets OpenSea from the others. There are no gas costs when you use this feature to make and then sell the NFTs. This means you’ll be able to make the highest profits once you begin selling since you don’t need to pay on any additional charges.
There aren’t many NFT marketplaces offer this feature, and it is a great way to make a huge profit from your NFT collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces that offer rewards by referring your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, letting you earn more cash from this act.
Other NFT marketplaces do not have this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly used to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible for the two platforms of iOS as well as Android. Even though you can’t buy or sell things, you can browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available at your disposal, and you can convert your fiat money into cryptocurrency on these platforms. Nft Y El Arte
You can exchange the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option to exchange for ETH, which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Since it is built using an ETH blockchain, all wallets that share the same network are suitable for this site.
Here’s a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, only mobile usage and the ability to purchase cryptocurrency with credit cards. Nft Y El Arte
To know more about it to learn more, check out their FAQs for the steps you can start and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalty rates).
- It is not possible to buy or sell items through the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. But overall, you can easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Y El Arte
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform for selling their artwork online, and to accept cryptocurrency as their form of payment. It’s an excellent option for artists who want to use the platform to market NFTs due to its low gas fees and low commission fee rate which you are required to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace which is why you should definitely take a look!
Is OpenSea legit & safe?
The short answer is yes! OpenSea is a reputable marketplace since it was established in 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 secure and safe.
In addition 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 you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties from OpenSea?
As an artist, you’ll get only 10 percent of the royalties when you upload the NFT. This is believed to be a reasonable amount compared with the other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been commonly utilized on this website and other sites to provide 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.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. It is easy to buy or sell cryptocurrency on secure platforms that accept fiat money. All you need be able to connect is your credit or Paypal for the transaction.
Does OpenSea has a mobile or desktop application?
As previously mentioned, there is definitely an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store, and begin exploring the collection right now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
