The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea is among them and is worth checking out.
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 among cryptocurrency users because of its safety and speedy transactions.
Get on board, and let’s see 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 overview. After, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace OpenSea Down
The purpose to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional costs. There are additional features that allow you to sell your artwork without any issues.
When it comes to the registration process, you don’t have to worry about giving any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with 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). This market is built upon 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 kinds of blockchains available, you can choose which one you want to transfer your NFT to as an seller. This is to ensure the security of your NFT and those who wish to purchase it. Every transaction will be conducted by using the blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name, to a piece of art from an artist that you admire. Anyone can be a seller however, it takes a while for anyone to become an established one.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you could become a part of this! You can set up your own personal market on this site, as well as find NFTs that you would like to purchase 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 for so long on the 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 any beginners in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. An NFT is a non-fungible currency that is very individual and cannot be substituted. It could be a piece of rarity like authentic baseball cards, or a uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible item you’re selling online. In simpler terms, you could simply think of the NFT being a virtual item which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs for your personal NFTs. It is a way of claiming ownership over that particular token/item you uploaded on market, as offering it for sale. Usually, this is recognized once you fill out the correct information about the NFT and then submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and then 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 or payment tokens). After you’ve completed the process, you can finally upload it if it fits the limit of 100MB.
You can watch and see how the transactions go from now to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point, you’re probably wondering which kind of NFT can be purchased here, and what you could also sell if you choose to pursue that route. The type of NFT that you can purchase is indefinite because there’s a wide range of options for how to go about it.
It is possible to sell digital products, trading cards game assets, domain names, and some physical items! Consider what you believe will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the other options. There’s no cost for gas when you use this feature to mint and sell NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you don’t need to pay on additional fees.
There aren’t many NFT marketplaces have this feature, and it can be a fantastic way to receive high profit from your collection.
Referral Program
A Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets there are rewards by referring your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there, you’ll receive 2.50% of the sale amount, letting you make more money from this act.
Other NFT marketplaces don’t have this feature and that’s another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.
The mobile apps of OpenSea are available on the two platforms of iOS and Android. Although you aren’t able to purchase or sell something, you can explore the products you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available to you You can also convert your fiat money into cryptocurrency through these platforms. OpenSea Down
You can exchange the fiat currency you have with a the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of exchange for ETH that is the most common crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all kinds of crypto, wallets are nonetheless more compatible than other. Since it is built mainly around an ETH blockchain, all wallets that share this network are appropriate for this site.
Here’s a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency using credit cards. OpenSea Down
For more information about the service, you can check their FAQs to see a rundown of how you can begin and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts can be used to perform 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 rates).
- Cannot buy or sell through the mobile app.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto wallet is required to use this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions OpenSea Down
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to offer artists a way to market their work online to receive cryptocurrency as a form of payment. It’s an excellent option for artists who want to use for selling NFTs because of its zero gas costs and low commission fee rate you must pay.
You can shop and browse an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legit & secure?
Answer: Yes! OpenSea is a reputable marketplace since it was established in the year of 2018. Since the system it operates on is built on blockchain technology that is secure, you can say that your transactions are safe and secure.
Additionally, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark is placed to your account or any 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 secure.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you’ll receive only up to 10 percent of the royalties after you have uploaded the NFT. This is believed to be reasonably low compared to other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) is commonly used on this site and other sites to provide more crypto users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use for OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through secure platforms that accept 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 we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS or Android. Install it from their app store, and you can start browsing through the collection right now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application you can manage multiple accounts and get alerts on any updates that affect 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/).
