The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto coins. Marketplaces are popping up across the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea is one of them, and it’s worth a look.
If you’re interested in crypto you’ve probably heard of OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
Now hop aboard, and discover what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, 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 Zodiac
The aim to create OpenSea was to offer a platform/marketplace for artists to upload commissions without any extra costs. It also has additional functions that let you sell your art without too many problems.
In terms of registration, you won’t have to provide all of your personal details. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology and is used for most processes. It also functions on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains that are available you can pick which one you want to publish your NFT as seller. This ensures the safety of your NFT, along with those who wish to buy it. All transactions are made along with this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name to an official artwork from an artist that you admire. Anyone can be a seller, but it takes a while for anyone to become an established seller.
There is a wide variety in the collection on OpenSea, and you can become a part of this! You can set up your own marketplace here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in 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 have heard of it but aren’t sure exactly what it actually means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the new things you can purchase your cryptocurrency is an NFT. The NFT is a token that is non-fungible that is individual and cannot be changed. It can be an item of rareness like authentic baseball cards or uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing you’re selling on the internet. It is simpler to just consider as an NFT being a virtual item paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. You’re claiming the ownership of the particular item that you posted to market, as you’re selling it. Usually, this is recognized once you fill out all the necessary information about the NFT and finally add it on the market.
On OpenSea, it’s a simple procedure to create your own NFTs by going to the store and simply creating a collection to start! Fill out the proper and accurate information about your NFT and then select what type of settings you’d like for it (e.g. blockchain, money transfer tokens). After that then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how the transactions go from now to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point, you’re probably wondering what kind of NFTs can be found here and what kind of NFTs you can sell should you decide to pursue that route. The type of NFT it is indefinite since there’s a broad range of ways to go about it.
You could be selling trade cards, digital goods games domain names, even physical assets! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from other companies. There are no gas costs for using this feature to create and market NFTs. This means you’ll get the most profit when you start selling because you won’t have to spend on extra fees.
Very few NFT marketplaces have this feature, so this is great for you to make a huge profit from your portfolio.
Referral Program
A Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces there are rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from the site you’ll be rewarded with 2.50% of the sale amount, letting you earn more money by this method.
Other NFT marketplaces don’t offer this kind of feature either, so that’s just another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you scroll through the list.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still at least explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal You can also convert your fiat money into cryptocurrency on these platforms. OpenSea Zodiac
You can convert your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of them have the option to exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all forms of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built on an ETH blockchain, any wallets which are part of the same network are suitable for this website.
Here’s a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency using credit cards. OpenSea Zodiac
To know more about it You can go through their FAQs to get 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
Like all crypto markets every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto world and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalty rates).
- Cannot buy or sell on our mobile apps.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee to all the sellers who are on this platform. In the end, you’ll quickly regain that when you actively sell because there’s no extra charge for it.
Frequently Asked Questions OpenSea Zodiac
What is OpenSea?
OpenSea is an NFT marketplace that seeks to offer artists a way to sell their works online to receive cryptocurrency as a method of payment. It’s a great platform for artists using it to sell NFTs due to its no gas costs and low commission fees you must pay.
You can browse and shop for an array of digital goods in this NFT marketplace and you must check it out!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in 2018. Because its system is built on a blockchain that is secure, you can declare that transactions are secure and safe.
Furthermore as a seller you can become verified once you build up your reputation. A blue checkmark is placed to your account or any collection that you have uploaded to assure every customer. OpenSea’s team regularly reviews the content to ensure that users are protected.
How do 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 other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been widely used on this site and other sites to provide many more cryptocurrency users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can utilize to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before There is an official mobile application from OpenSea available for both iOS and Android. You can download it through their app store, and you can start browsing through the collection right now!
There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts as well as 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/).
