The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto coins. Markets have popped up all over the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.
If you’re interested in crypto, you’ve likely heard of OpenSea before for a good reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and let’s explore what you can do with OpenSea and also see the NFTs available to view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace OpenSea Top Nfts
The purpose to create OpenSea was to provide an online marketplace for artists to easily upload their commissions, without having to pay any additional costs. It has more functions which allow you to market your artwork without any problems.
For registration, you don’t need to provide any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that, without much hassle as you step into NFTs.
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used to carry out the majority of processes. It is also based using the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains it is possible to choose which one you would like to publish your NFT as an seller. This will ensure the security of your NFT, along with the people who want to purchase it. All transactions are made along with this blockchain, and you must think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything just a domain name, to a piece of art by an artist you admire. Anyone can sell, but it takes a while for anyone to become an established seller.
There are a variety of NFTs of NFTs available of NFTs available at OpenSea, and you can join in with that! You can set up your own personal market there, and also find NFTs you’d like to buy for yourself.
What is an NFT?
In a recent development for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people are familiar with it , but not exactly sure what it means. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency includes an NFT. The NFT is a token that is non-fungible which is extremely unique and can’t be replaced. It could be a piece of rareness like mint-condition baseball trading cards or unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible item you’re selling on the internet. It is simpler to just think of an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting is similar to calling for dibs for your personal NFTs. You are calling ownership over that particular token/item you uploaded on market, as you’re selling it. Usually, this becomes official once you fill out the correct information about the NFT and submit it for sale on.
On OpenSea it’s a straightforward process to mint your NFTs by visiting the store and simply making a collection to begin! Fill out the proper and correct information regarding your NFT and choose what kind of settings you want to use it with (e.g., blockchain and payment tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
You can wait and observe how transactions progress from now on to determine if OpenSea is the right marketplace for you.
What NFTs can you find here?
So, at this point you’re probably thinking about the kind of NFTs can be found here, and what you could also sell if you decide to go down that path. The kind of NFT it isn’t limited because there’s a wide range of how you can do it.
You could be selling trade cards, digital goods game assets domain names, some physical items! Find out what you think will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from the others. There’s no cost for gas when you utilize this feature when you create and market NFTs. This means you’ll be able to make the highest profits once you begin selling since you don’t need to pay on additional fees.
Very few NFT marketplaces offer this feature, which is why this is a great way to make a huge profit from your collection.
The Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer benefits by referring someone else to OpenSea! If you invite a friend to 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 cash through this action.
Other NFT marketplaces don’t have this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile application, however it’s mostly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS as well as Android. Even though you can’t buy or sell something, you can at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available at your disposal to exchange your fiat money for cryptocurrency through these platforms. OpenSea Top Nfts
You can exchange the fiat currency you have with a the credit card, or Paypal on these reliable websites for cryptocurrency:
- Bittrex, and other things!
Each of them has the option of converting them into ETH, which is the primary crypto payment in OpenSea.
Although OpenSea is an NFT marketplace that is open to all forms of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built around the ETH blockchain, all wallets that share the same network are suitable for this site.
Here’s a list of different crypto wallets which you can use with OpenSea:
- Authereum and much more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage, and the function to purchase cryptocurrency with credit cards. OpenSea Top Nfts
For more information about the service You can go through their FAQs to see an overview of how you can get started and what other crypto wallets are compatible with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
- Mobile apps are available for iOS and 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 market and NFTs.
- Allows royalties 10% for artists (low royalties).
- You cannot buy or sell products via our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- The use of a Crypto wallet is required for this marketplace.
OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. But overall, you can quickly recover this amount if you are actively selling since there is no additional fee for it.
Frequently Asked Questions OpenSea Top Nfts
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to market their work online, and to accept cryptocurrency as a method of payment. It’s an excellent option for artists who want to use it to sell NFTs due to its low gas costs and low commission fees that you have to pay.
You can shop and browse the vast array of digital products on this NFT marketplace and you must take a look!
Is OpenSea legit & secure?
Short answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year 2018. Because its system is built on a blockchain, it is safe to claim that your transactions are safe and secure.
Additionally as a seller you will be verified after you’ve earned a reputation. A blue checkmark will appear to your account or any collection you’ve uploaded to ensure the safety of anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are safe.
How can I earn royalties from OpenSea?
As an artist, you will receive only up to 10% of the royalties once you upload the NFT. This is believed to be a reasonable amount compared against others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been commonly utilized on this website and other sites to provide many more cryptocurrency users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
These are the core cryptocurrencies you can use to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier There is an official mobile app by OpenSea available for both iOS and Android. Install it from their app store and begin exploring the collection right now!
The version for desktops that OpenSea can be downloaded via WebCatalog. With the desktop application you can manage multiple accounts and receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).