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Cryptocurrency is booming right now and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up all over the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea is among them, and it’s worth looking into.

If you’re interested in crypto, you’ve likely heard of OpenSea before for a good 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 see what you can do with OpenSea, along with checking what NFTs you can view!

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

OpenSea as an NFT Marketplace Nfty X

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

For registration, you won’t have to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system, and this is used to carry out the majority of processes. It also functions with the Polygon blockchain to ensure the lowest cost and speediest trading.

With these two types of blockchains you can pick which one you want to upload your NFT on as a seller. This will ensure the security of your NFT and those who wish to purchase it. All transactions will be made along with this blockchain, so you should consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything the simplest domain name to an official artwork by an artist you admire. Anyone can sell however it takes time before anyone can become an established seller.

There’s a huge selection in the collection on OpenSea and you can also be a part of the collection! You can start your own market on this site, as well as find NFTs you want to purchase for yourself.

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What is an NFT?

A recent change in the crypto market,”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that many millennials are familiar with it but aren’t sure exactly what it means. Let’s look at what an NFT is for any beginners in cryptocurrency.

One of the newest things you can buy includes an NFT. An NFT is a token that is non-fungible that is individual and cannot be replaced. This can be a piece of rareness, such as rare baseball trading cards in mint condition or a rare vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible thing that you can sell online. More straightforwardly, you can just consider the NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots for your personal NFTs. It is a way of claiming the owner of the item or token that you have uploaded to the marketplace, and you’re selling it. Usually, this becomes official once you fill out all the necessary information about the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and create a collection! Input the appropriate and correct information regarding your NFT and choose what kind of settings you’d like to use for it (e.g., blockchain, payments tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.

You can wait and observe the way transactions are handled from now on to determine if OpenSea is the best marketplace for you.

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What NFTs are available here?

In this moment, you’re probably wondering the kind of NFTs be purchased here and what kind of NFTs you can also sell if you choose to go down that path. The kind of NFT it can be is indefinite because there’s a wide range of ways to do it.

You can be selling trade cards, digital goods, game assets, domain names, and even physical assets! Find out what you think will yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager feature is what sets OpenSea from other companies. There are zero gas fees when you utilize this feature when you create and market NFTs. This means you’ll get the most profit when you start selling because you don’t need to pay on additional fees.

There aren’t many NFT marketplaces provide this feature, which is why this is great for you to earn a high return from your collection.

Referral Program

This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets there are benefits by referring a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, which allows you to earn more money from this act.

Other NFT marketplaces do not have the same feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. You can’t buy or sell anything while you browse through the listings.

OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are available at your disposal You can also convert your fiat money into cryptocurrency through these platforms. Nfty X

You can swap your fiat currency using a credit card or Paypal through these trusted sites for cryptocurrency:

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

All of these have the option of exchange for ETH, which is the most common cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all types of crypto, wallets are nevertheless more compatible than other. Since it is built on the ETH blockchain, all wallets which are part of this network are appropriate for the site.

Here is a list of various crypto wallets that which you can use with OpenSea:

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

Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, use on mobile devices only, and the function to purchase cryptocurrency with the credit card. Nfty X

To know more about it You can go through their FAQs to get a rundown of how you can begin and which other wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and pros here:

Pros

  • Mobile apps are available that are compatible with iOS and Android.
  • Smart contracts are utilized for transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto world and NFTs.

Cons

  • Allows royalties of only 10% to artists (low royalties).
  • You cannot buy or sell products through the mobile app.
  • Only supports cryptocurrency as its method of payment.
  • An Crypto wallet is required for this marketplace.

Pricing

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

Frequently Asked Questions Nfty X

What is OpenSea?

OpenSea is 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 an ideal platform for artists who use the platform to market NFTs due to its no gas costs and low commission fees which you are required to pay.

You can browse and shop for the vast array of digital items on the NFT marketplace, so you should check it out!

Is OpenSea legitimate and safe?

The short answer is yes! OpenSea is a reputable marketplace since it was founded on the 1st of December in the year 2018. Since its system is built on blockchain technology and is secured, it is safe to claim that your transactions are secure and safe.

Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark is placed next to your account or the collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure that users are safe.

How can I earn royalties from OpenSea?

As an artist, you can get only 10 percent of the royalties after you upload the NFT. This is considered to be reasonably low compared against other NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) can be frequently used on this site and many others to accommodate the increasing number of cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can make use of to use OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop/mobile app?

As we mentioned earlier There is an official mobile application from OpenSea that is available for iOS as well as Android. Install it from their app store and then you can begin exploring the collection now!

A version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts and get 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/).

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