The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto coins. Markets have popped up all over the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
So, hop on board and let’s see the possibilities of OpenSea as well as examining the NFTs available to view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Picasso Nft
The aim for OpenSea was to simply provide a platform/marketplace for artists to upload commissions, without having to pay any additional charges. There are additional features which allow you to market your artwork without any problems.
When it comes to registration, you don’t need to worry about giving any personal information about yourself. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It also operates with the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains that are available, you can choose which one you want to upload your NFT on as seller. This will ensure the security of your NFT, along with those who wish to purchase it. All transactions will be made using this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless 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 an official artwork from an artist that you admire. Anyone can sell however, it takes a while before anyone can become an established seller.
There is a wide variety in the collection of NFTs available at OpenSea, and you can join in with this! You can start your own market on this site, as well as find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that many millennials are familiar with it , but aren’t sure exactly what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency can be an NFT. An NFT is a token that is non-fungible which is extremely individual and cannot be replaced. It can be an item of rareness, such as authentic baseball cards or rare vinyl record.
There is no limit to what an NFT can be since it’s a non-fungible thing that you can sell on the internet. It is simpler to simply imagine as an 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 the marketplace, and putting it up for sale. Usually, this becomes official once you fill out the correct information about the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and making a collection to begin! Input the appropriate and accurate information about your NFT and then select what type of settings you’d like to use for it (e.g. blockchain, payment tokens). After that you are able to upload it, if it’s within the 100 MB limit.
You can wait and observe how the transactions go from now on to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably thinking about which kind of NFT be found here and what kind of NFTs you can also sell if you decide to go that route. The kind of NFT it isn’t limited as there’s a variety of how you can do it.
It is possible to sell digital products, trading cards game assets domain names, also physical goods! Consider what you believe will yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that sets OpenSea from other companies. There are zero gas fees when you use this feature when you mint and sell NFTs. This simply means that you’ll get the most profit when you sell because you won’t have to spend on extra fees.
Very few NFT marketplaces provide this feature, and it is great for you to receive high profit from your NFT collection.
Referral Program
The Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces there are advantages when you refer someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from there, you’ll receive 2.50% of the sale amount, which means you can earn more money through this action.
Other NFT marketplaces do not have the same feature This is a further benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
The mobile apps of OpenSea are available on the two platforms of iOS in addition to Android. Even though you can’t buy or sell things, you can at least browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use to trade your fiat currency for cryptocurrency on these platforms. Picasso Nft
You can swap your fiat money via your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
Each of them has the option of converting them into ETH that is the most common cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all types of crypto, wallets are still more compatible with it than others. Since it is built using an ETH blockchain, any wallets with a connection to this network are appropriate for this site.
Here is a list of different crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, only mobile usage as well as the capability to purchase cryptocurrency using credit cards. Picasso Nft
To learn more about it You can go through their FAQs to get an overview of how you can get started and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties 10% to artists (low royalties).
- It is not possible to buy or sell items via our mobile apps.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can easily recover that amount when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Picasso Nft
What is OpenSea?
OpenSea is an NFT marketplace that is designed to provide artists a platform to market their work online, and to accept cryptocurrency as a method of payment. It’s a great option for artists who want to use it to sell NFTs due to its no cost of gas and the low commission rate you must pay.
You can shop and browse the vast array of digital items on the NFT marketplace and you must go through it!
Is OpenSea real and secure?
Answer: Yes! OpenSea is a reputable marketplace since its inception in the year 2018. Since the system it operates on is built on blockchain technology, it is safe to say that your transactions are secure and safe.
Furthermore as a seller you can become verified once you build up your reputation. A blue checkmark will appear to your account or any collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the contents to ensure users are secure.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is considered to be a reasonable amount compared to other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) has been frequently used on this site and many others to accommodate the increasing number of crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have 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 is definitely an official mobile app from OpenSea available for both iOS or Android. Download it at their respective app store, and you can start exploring the collection now!
There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts and receive notifications on updates regarding 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/).
