The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto coins. Markets have popped up across the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea can be one and is worth looking into.
If you’re interested in crypto, you’ve likely heard of OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s explore what you can do with OpenSea as well as examining 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. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace OpenSea Buy With Credit Card
The goal to create OpenSea was to offer an online marketplace for artists to easily upload their commissions with no additional fees. It also has additional functions which allow you to market your artwork without any issues.
For the registration process, you don’t have to give all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as easy as that, without many hurdles as you walk into NFTs.
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used for most processes. It is also based with the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds of blockchains that are available it is possible to choose which one you want to publish your NFT as an 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, so you should think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to an official artwork by an artist you admire. Anyone can be a seller however it takes a while for anyone to be an established seller.
There’s a huge selection of NFTs available at OpenSea and you can join in with the collection! You can create your own personal market here, along with finding NFTs you’d like to buy for yourself.
What is an NFT?
In a recent development for the cryptocurrency industry the term “NFT” has been going around so long on the internet that the majority of young people are familiar with it , but not exactly sure what it actually means. Let’s look at what an NFT is for anyone who is new in cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. The NFT is a non-fungible token that is very unique and can’t be changed. This can be an item of rareness, such as rare baseball trading cards in mint condition or a uncommon vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible item that you sell on the internet. More straightforwardly, you can simply think of an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting is like calling the shots for your personal NFTs. You are calling the ownership of the particular item you uploaded on the market place, but selling it. Usually, this is recognized when you have filled in all the necessary information about the NFT and upload it to the marketplace.
On OpenSea It’s a very simple procedure to create your own NFTs by going to the store and create a collection! Complete the correct and complete information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain, payment 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.
What NFTs are available here?
So, at this point you’re probably asking yourself which kind of NFT you shop for here and what kind of NFTs you can also sell if you choose to go down that path. The kind of NFT it isn’t limited because there’s a wide range of how you can go about it.
You can be selling trade cards, digital goods games domain names, some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the others. There are zero gas fees when you use this feature when you mint and sell NFTs. This simply means that you’ll get the most profit when you sell because you don’t need to pay on extra fees.
Not many NFT marketplaces have this feature, and it is great for you to earn a high return from your portfolio.
The Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50 percent of the purchase amount, letting you earn more money through this action.
Other NFT marketplaces don’t have this feature, so that’s just another advantage OpenSea has over them.
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
The mobile apps from OpenSea are accessible for the two platforms of iOS in addition to Android. Even though you can’t buy or sell anything, you can still explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are available to you to exchange your fiat money for cryptocurrency through these platforms. OpenSea Buy With Credit Card
You can convert your fiat currency using a credit card or Paypal via these reputable websites to exchange it for crypto:
- Bittrex, and many more!
All of them have the option of converting them into ETH which is the most common cryptocurrency payment option in OpenSea.
While OpenSea is an NFT marketplace that is open to all forms of crypto, wallets are nevertheless more compatible than others. Because it is based around an ETH blockchain, wallets that share the same network are suitable for the site.
Here is a list of different crypto wallets which you can use with OpenSea:
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, use on mobile devices only, and the function to buy cryptocurrency using the credit card. OpenSea Buy With Credit Card
To learn more about it to learn more, check out their FAQs to get the steps you can begin and also what other crypto wallets are compatible with 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. You can view its pros and cons here:
- Mobile apps are available for iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
- Allows royalty rates of 10% to artists (low royalties).
- Cannot buy or sell via the mobile app.
- Only accepts cryptocurrency as a type of payment.
- A Crypto wallet is required to access this marketplace.
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. But overall, you can quickly regain that when you are actively selling since there is no additional fee for it.
Frequently Asked Questions OpenSea Buy With Credit Card
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way for selling their artwork online, and to accept cryptocurrency as their form of payment. It’s a great platform for artists using it to sell NFTs due to its low cost of gas and low commission fees that you have to pay.
You can shop and browse the vast array of digital items on the NFT marketplace, so you should check it out!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea has been a trusted marketplace since its inception in the year of 2018. Since the system it operates on is built on blockchain technology that is secure, you can claim that your transactions are protected and secured.
Furthermore as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed to your account or the collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are protected.
How can I earn royalties on OpenSea?
As an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is considered to be reasonably low compared to the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been commonly used on this site and numerous others to cater for many more cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
These are the core cryptocurrencies you can make use of to use OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you need to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier there’s an official mobile application from OpenSea that is available for iOS or Android. You can download it through their app store and you can start browsing through the collection right now!
The Desktop application that OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts as well as receive notifications about updates to 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/).