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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 web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is one of them and is worth a look.

If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and quick transactions.

So, hop on board and discover what you can do with OpenSea and also see the NFTs available to 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 our article for a more comprehensive review.

OpenSea as an NFT Marketplace OpenSea Email

The aim to create OpenSea was to simply provide a platform/marketplace for artists to upload their commissions with no additional costs. There are additional features which allow you to market your art without too many issues.

For registration, you won’t have to provide any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It can be as simple as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it, and this is used for most processes. It also functions with the Polygon blockchain to ensure the lowest cost and speediest trading.

With these two kinds of blockchains available it is possible to choose which one you would like to publish your NFT as seller. This ensures the safety of your NFT, along with those who would like to purchase it. All transactions will be made along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online marketplace where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything just a domain name, to a piece of art from an artist you admire. Anyone can be a seller however, it takes time for anyone to be an established one.

There’s a huge selection from the selection on OpenSea, and you can join in with that! You can start your own market here, along with finding NFTs that you would like to purchase yourself.

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What is an NFT?

A recent change in the crypto industry,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that the majority of young people are familiar with it but aren’t exactly sure what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.

One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a token that is non-fungible which is extremely unique and can’t be replaced. It can be a piece of rareness like mint-condition baseball trading cards or uncommon vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. It is simpler to just think of as an NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item that you posted to the market place, but putting it up for sale. Usually, this is recognized after you fill in all the necessary 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 creating a collection to start! Input the appropriate 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 that, you can finally upload it to the internet if it’s in the limit of 100MB.

It is possible to wait and see the way transactions are handled from now on to see whether OpenSea is the best marketplace for you.

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What NFTs can you get here?

So, at this point you’re probably asking yourself the kind of NFTs can be purchased here and what kind of NFTs you can also sell if you decide to go down that path. The type of NFT it isn’t limited because there’s a wide range of ways to go about it.

You can be selling digital products, trading cards, game assets domain names, even physical assets! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that sets OpenSea from the other options. There are no gas costs when you use this feature when you make and then sell the NFTs. This simply means that you’ll get the most profit when you begin selling since you won’t need to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, so this can be a fantastic way to earn a high return from your NFT collection.

Referral Program

A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets, you can receive rewards when you refer your 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 cash through this action.

Other NFT marketplaces do not have this kind of feature either, so that’s just another benefit OpenSea has over the other marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.

OpenSea’s mobile apps are available on both iOS as well as Android. While you’re not able to buy or sell anything, you can still at least browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available for you to use, and you can trade your fiat currency for cryptocurrency using these platforms. OpenSea Email

You can exchange the fiat currency you have with a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:

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

All of these have the option to exchange for ETH that is the standard cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are still more compatible with it than other. Since it is built mainly on the ETH blockchain, wallets with a connection to this network are appropriate for this site.

Here’s a list several crypto wallets which you can use with OpenSea:

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

*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, only mobile usage as well as the capability to purchase cryptocurrency using the credit card. OpenSea Email

To learn more about it You can go through their FAQs to see an overview of how you can start and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Available as mobile apps that are compatible with iOS as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties up to 10% for artists (low royalty).
  • You cannot buy or sell products via the mobile app.
  • Only accepts cryptocurrency as a type of payment.
  • The use of a Crypto wallet is required to use this marketplace.

Pricing

OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. But overall, you can quickly regain that when you sell regularly since there’s no additional cost for it.

Frequently Asked Questions OpenSea Email

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance to market their work online to receive cryptocurrency as a form of payment. It’s an ideal option for artists who want to use the platform to market NFTs due to its low gas fees and low commission fees that you have to pay.

You can browse and purchase the vast array of digital items on the NFT marketplace which is why you should definitely take a look!

Is OpenSea legit & safe?

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

Additionally, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark is placed on your account or collection that you have uploaded to assure any customer. The OpenSea team reviews regularly the contents to ensure users are secure.

How do I earn royalties on OpenSea?

As an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is thought to be quite low in comparison to others 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 many more crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

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

OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using secure platforms that accept fiat money. All you need just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea have a desktop or mobile app?

As we mentioned earlier there’s an official mobile app by OpenSea available for both iOS or Android. You can download it through their app store, and then you can begin browsing through the collection right now!

A desktop application for OpenSea which can be downloaded from WebCatalog. In the desktop application, you can manage multiple accounts and get 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/).

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