The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up all over the web that allow users to buy and sell NFTs using cryptocurrency! OpenSea can be one and is worth a look.
If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It has become one of the biggest and leading marketplaces among users of cryptocurrency due to its safety and speedy transactions.
So, hop on board and let’s see the possibilities of OpenSea, along with checking 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. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Nft Zed Run
The aim of OpenSea was to offer an online marketplace for artists to easily upload their commissions with no additional costs. It also has additional functions that let you sell your work without having to deal with many difficulties.
In terms of registration, you won’t have to provide all of your personal details. All you have to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It also functions with the Polygon blockchain, which ensures 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 upload your NFT on as a seller. This ensures the safety of your NFT, along with those who wish to buy it. Every transaction will be conducted using this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist that you admire. Anyone can sell however it takes a while for anyone to be an established seller.
There’s a huge selection from the selection on OpenSea and you could become a part of the collection! You can set up 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 advancement for the crypto market, the term “NFT” has been going around for so long on internet that the majority of young people are familiar with it , but aren’t exactly sure what it means. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. The NFT is a token that is non-fungible that is very unique and can’t be replaced. It can be an item of any rareness like authentic baseball cards or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell on the internet. It is simpler to simply imagine the NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. You’re claiming the owner of the item or token that you have uploaded to the marketplace, and you’re offering it for sale. Usually, this is recognized after you fill in all the necessary information about the NFT and then add it on the market.
On OpenSea, it’s a simple process to mine your NFTs by going to the store and simply making a collection to begin! Input the appropriate and complete information about your NFT and select the type of settings you’d like to use for it (e.g. blockchain and payment tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.
You can watch and see how transactions progress from here on out to see whether OpenSea is the 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 be found here and what you can also sell if you decide to go down that path. The type of NFT it is indefinite as there’s a variety of how you can go about it.
It is possible to sell digital items, trading cards games domain names, even physical assets! Find out what you think will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from the other options. There’s no cost for gas when you use this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t need to spend on any additional charges.
Not many NFT marketplaces have this feature, which is why this is great for you to earn a high return from your NFT collection.
Referral Program
A Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces, you can receive advantages by referring your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the sales amount, letting you make more money through this action.
Other NFT marketplaces do not have this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything as you scroll through the list.
The mobile apps of OpenSea are available for both iOS in addition to Android. Even though you can’t buy or sell something, you can explore the products you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal You can also trade your fiat currency for cryptocurrency using these platforms. Nft Zed Run
You can convert your fiat currency using a your credit or debit card as well as Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option to exchange for ETH that is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all types of crypto, wallets are still more compatible with it than others. Because it is based on an ETH blockchain, wallets which are part of the same network are suitable for the site.
Here’s a list several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with a credit card. Nft Zed Run
To know more about it to learn more, check out their FAQs to get a rundown of how you can begin and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalties 10% to artists (low royalty).
- Cannot buy or sell through our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- A Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly regain that when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Nft Zed Run
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to market their work online and receive cryptocurrency as a form of payment. It’s a great platform for artists using it to sell NFTs due to its low gas fees and low commission fee rate that you have to pay.
You can browse and purchase the vast array of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea legit & safe?
Short answer: Yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in the year of 2018. Since the system it operates on is based on a blockchain that is secure, you can declare that transactions are safe and secure.
In addition, as a seller, you will be verified after you have built up your credibility. A blue checkmark will appear on your account or any collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure that users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you will get only 10% of the royalties once you have uploaded the NFT. This is thought to be reasonably low compared with the other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) can be widely used on this site and other sites to provide the increasing number of crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned There is an official mobile application from OpenSea that is available for iOS and Android. Download it at their respective app store, and you can start exploring the collection now!
A Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts as well as receive 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/).
