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The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto currency. Markets have popped up across the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s worth looking into.

If you’re interested in crypto you’ve probably heard about OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.

So, hop on board and discover the possibilities of OpenSea and also see the NFTs that you can see!

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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 of OpenSea.

OpenSea as an NFT Marketplace O’Hare To Nft Meyers Florida Flights

The purpose for OpenSea was to offer an online marketplace for artists to upload commissions with no additional fees. It also has additional functions which allow you to market your artwork without any difficulties.

For registration, you don’t need to give all of your personal details. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It is also based with the Polygon blockchain, which allows for low-cost and quicker trading.

With these two kinds of blockchains that are available, you can choose which one you want to upload your NFT on as seller. This will ensure the security of your NFT, along with those who wish to buy it. All transactions are made by using the blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name to an official artwork from an artist that you admire. Anyone can be a seller however, it takes a while for anyone to be an established one.

There is a wide variety in the collection of NFTs available at OpenSea and you can also be a part of this! You can set up your own market there, and also find NFTs that you would like to purchase yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the crypto industry,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials are familiar with it , but aren’t sure exactly what it is. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.

One of the new things you can purchase your cryptocurrency includes an NFT. An NFT is a token that is non-fungible that is unique and can’t be changed. It can be a piece of rareness, such as mint-condition baseball trading cards, or a uncommon vinyl record.

There is no limit to what an NFT can be as it’s a non-fungible object you’re selling online. More straightforwardly, you can just consider the NFT to be a type of digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots to your NFTs. You’re claiming ownership over that particular token/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 then add it on the market.

On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and simply making a collection to begin! Complete the correct and correct information regarding your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain or money transfer tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.

It is possible to wait and see how transactions progress from here on out to see if OpenSea is the best marketplace for you.

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What NFTs can you find here?

At this point you’re probably asking yourself which kind of NFT you shop for here and what you can also sell if you decide to go that route. The type of NFT that you can purchase is unlimited as there’s a variety of options for how to approach it.

You could be selling trade cards, digital goods game assets, domain names, and some physical items! Find out what you think will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what separates OpenSea from other companies. There are zero gas fees for using this feature when you make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you won’t need to spend on additional fees.

There aren’t many NFT marketplaces offer this feature, so this is a great way to receive high profit from your collection.

Referral Program

A Referral Program is another unique aspect of OpenSea to be admired. Like traditional online marketplaces, you can receive rewards when you refer a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more money by this method.

Other NFT marketplaces don’t have this feature, so that’s just another advantage OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.

The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available at your disposal You can also convert your fiat money into cryptocurrency through these platforms. O’Hare To Nft Meyers Florida Flights

You can convert your fiat currency using a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:

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

Each of them has the option to exchange for ETH which is the primary cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all kinds of cryptocurrency, the wallets still more compatible with it than others. Because it is based using an ETH blockchain, all wallets which are part of this network are appropriate for this site.

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

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

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency using the credit card. O’Hare To Nft Meyers Florida Flights

For more information about the service to learn more, check out their FAQs for an overview of how you can begin and which other wallets are compatible with OpenSea.

ethereum-coins

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Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:

Pros

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

Cons

  • Allows royalties of only 10% for artists (low royalty rates).
  • It is not possible to buy or sell items on this mobile application.
  • 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 has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly regain that when you are actively selling since there is no additional fee for it.

Frequently Asked Questions O’Hare To Nft Meyers Florida Flights

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to provide artists a platform for selling their artwork online to receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use the platform to market NFTs due to its low gas costs and low commission fee rate which you are required to pay.

You can shop and browse an array of digital products on this NFT marketplace, so you should take a look!

Is OpenSea legit & safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was founded at the end of 2018. Since the system it operates on is based on a blockchain, it is safe to declare that transactions are safe and secure.

Additionally, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or collection you uploaded to reassure any 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’ll receive only up to 10 percent of the royalties when you upload the NFT. This is thought to be quite low in comparison with the other NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) has been commonly used on this site as well as many others to accommodate many more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

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

OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency through trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop app?

As previously mentioned, there is definitely an official mobile app from OpenSea that is available for iOS and Android. Install it from their app store and begin exploring the collection right now!

There is also a version for desktops that OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and get alerts on any updates that affect your account when 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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