The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto-coins. Markets have popped up all over the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces for cryptocurrency users because of its safety and speedy transactions.
Now hop aboard, and let’s explore the possibilities of OpenSea and also see the NFTs available to view!
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 our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Not On Trade Nft Animal Jam Master Piece
The purpose to create OpenSea was to offer a platform/marketplace for artists to easily upload their commissions with no additional charges. It also has additional functions that allow you to sell your artwork without any difficulties.
When it comes to registration, you don’t need to give any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that and without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It is also based on the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two kinds of blockchains you can pick which one you would like to upload your NFT on as an seller. This is to ensure the security of your NFT and those who would like to buy it. Every transaction will be conducted by using the blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name to official art from an artist you admire. Anyone can sell however, it takes some time for anyone to be an established one.
There are a variety of NFTs of NFTs available on OpenSea, and you can become a part of that! You can create your own marketplace there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that a lot of millennials have heard of it but not exactly sure what it is. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency includes an NFT. The NFT is a non-fungible currency which is extremely individual and cannot be substituted. It could 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 object that you sell on the internet. In simpler terms, you could simply think of the NFT to be a type of digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. It is a way of claiming ownership over that particular token/item you uploaded on the market place, but you’re offering it for sale. Usually, this becomes official after you fill in all the necessary information about the NFT and add it on the market.
On OpenSea, it’s a simple process to mine your NFTs by going to the store and then creating a collection to start! Input the appropriate and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain or payment tokens). After you’ve completed the process you are able to upload it, if it’s within the 100 MB limit.
You can wait and observe how the transactions go from here on out to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point you’re probably thinking about the kind of NFTs be found here, and what you could also sell if you choose to pursue that route. The kind of NFT that you can purchase is indefinite because there’s a wide range of options for how to do it.
You could be selling digital products, trading cards games, domain names, and even physical assets! Consider what you believe will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that separates OpenSea from other companies. There’s no cost for gas for using this feature when you create and market NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on additional fees.
Very few NFT marketplaces offer this feature, so this is great for you to make a huge profit from your collection.
Referral Program
A Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets, you can receive advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there, you’ll receive 2.50 percent of the sales amount, letting you earn more money from this act.
Other NFT marketplaces don’t have the same feature and that’s another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
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 browse through the listings.
The mobile apps of OpenSea are available for both iOS and 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
A variety of cryptocurrency exchange platforms are available at your disposal to trade your fiat currency for cryptocurrency using these platforms. Not On Trade Nft Animal Jam Master Piece
You can exchange the fiat currency you have with a the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of them have the option to exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than others. Since it is built mainly around the ETH blockchain, wallets with a connection to that network will be suitable for the site.
Here is a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each has its own limitations like easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency using a credit card. Not On Trade Nft Animal Jam Master Piece
To know more about it, you can check their FAQs to see an overview of how you can get started and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and pros here:
Pros
- Mobile apps available for iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalty rates).
- Cannot buy or sell via our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- An Crypto wallet is required to use this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Not On Trade Nft Animal Jam Master Piece
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance to market their work online to receive cryptocurrency as a method of payment. It’s an excellent platform for artists using it to sell NFTs due to its no gas fees and low commission fees which you are required to pay.
You can browse and shop for an array of digital items on the NFT marketplace, so you should take a look!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year of 2018. Because its system is built on blockchain technology that is secure, you can say that your transactions are safe and secure.
Furthermore, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on your account or any collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the content to ensure that users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will be paid only 10 percent of the royalties when you upload the NFT. This is thought to be a reasonable amount compared with the other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) is widely used on this site as well as many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use for OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. 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’s an official mobile app from OpenSea that is available for iOS as well as Android. Install it from their app store and begin browsing through the collection right now!
There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application you can manage multiple accounts and 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/).
