The cryptocurrency market is on the rise and you’re probably wondering where to invest your crypto coins. Marketplaces are popping up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea can be one, and it’s worth checking out.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.
Now hop aboard, 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 watch 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 OpenSea Map
The goal for OpenSea was to offer an online marketplace for artists to upload commissions, without having to pay any additional fees. It also has additional functions that allow you to sell your art without too many issues.
In terms of 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 without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system, and this is used to carry out the majority of processes. It is also based using the Polygon blockchain to ensure lower costs and faster trading.
There are two types of blockchains that are available, you can choose which one you would like to upload your NFT on as an seller. This is to ensure the security of your NFT, along with those who wish to purchase it. Every transaction will be conducted along with this blockchain, which is why you need to think about where you should 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 purchase anything from as simple as a domain name to an official artwork by an artist you admire. Anyone can become a seller however it takes a while before anyone can become a reputable one.
There is a wide variety from the selection at OpenSea, and you can become a part of that! You can start your own 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 many millennials have heard of it but not exactly sure what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a non-fungible token which is extremely individual and cannot be replaced. It can be an item of any rareness, such as authentic baseball cards or a uncommon vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. It is simpler to just consider an NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots for your personal NFTs. It is a way of claiming the ownership of the particular item you uploaded on market, as offering it for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and then upload it to the marketplace.
On OpenSea, it’s a simple process to mine your NFTs. All you have to do is visit the store and creating a collection to start! Fill out the proper and complete information about your NFT and select the type of settings you’d like for it (e.g., blockchain, money transfer tokens). After that, you can finally upload it if it fits the 100 MB limit.
You can watch and see the way transactions are handled from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point you’re probably asking yourself what kind of NFTs can you shop for here and what kind of NFTs you can sell should you decide to go that route. The kind of NFT that you can purchase is unlimited since there’s a broad range of how you can approach it.
You can be selling digital products, trading cards games, domain names, and even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what sets OpenSea from the others. There are zero gas fees when you utilize this feature when you create and market NFTs. This simply means that you’ll get the most profit when you sell because you don’t need to pay on extra fees.
There aren’t many NFT marketplaces provide this feature, and it can be a fantastic way to earn a high return from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces there are advantages by referring your friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can earn more money from this act.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible for both iOS and Android. While you’re not able to buy or sell anything, you can still explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available to you, and you can convert your fiat money into cryptocurrency through these platforms. OpenSea Map
You can convert your fiat money via credit card or Paypal on these reliable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option of converting them into ETH that is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all forms of crypto, wallets are nonetheless more compatible than other. Because it is based using the ETH blockchain, any wallets which are part of the same network are suitable for the site.
Here’s a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage, and the function to purchase cryptocurrency with credit cards. OpenSea Map
For more information about the service to learn more, check out their FAQs for a rundown of how you can begin and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS or 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 world and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalty).
- Cannot buy or sell via this mobile application.
- Only supports cryptocurrency as its method of payment.
- A Crypto wallet is required for this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. However, overall, you will easily recover that amount when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions OpenSea Map
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to sell their works online to receive cryptocurrency as a method of payment. It’s a great option for artists who want to use the platform to market NFTs due to its no gas fees and low commission fees you must pay.
You can shop and browse an array of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since its inception at the end of the year 2018. Because its system is built on a blockchain that is secure, you can say that your transactions are safe and secure.
Additionally as a seller you will be verified after you build up your reputation. A blue checkmark is placed on your account or any collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are secure.
How can I earn royalties on OpenSea?
However, as an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is thought to be reasonably low compared against other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been widely utilized on this website and many others to accommodate more cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to use OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using 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 is an official mobile application from OpenSea that is available for iOS as well as Android. You can download it through their app store and then you can begin browsing through the collection right now!
The version for desktops that OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts and receive notifications about updates to 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/).
