Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is among them and is worth checking out.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
Get on board, and discover the possibilities of OpenSea, along with checking the NFTs that you can see!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Pipe Angle For Nft Hydroponic System
The goal for OpenSea was to simply provide a platform/marketplace for artists to easily upload their commissions without any extra fees. It has more functions which allow you to market your work without having to deal with many difficulties.
For registration, you don’t need to give any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used for most processes. It also functions using the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you would like to publish your NFT as seller. This is to ensure the security 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 is like an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to official art by an artist you admire. Anyone can be a seller, but it takes time for anyone to become a reputable one.
There are a variety of NFTs in the collection on OpenSea and you can become a part of this! You can create your own personal market on this site, as well as find NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto 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 are familiar with it , but aren’t exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency can be an NFT. The NFT is a non-fungible currency that is very unique and can’t be substituted. It could be an item of any rarity like mint-condition baseball trading cards or a uncommon vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. It is simpler to simply imagine the NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. It is a way of claiming the ownership of the particular item that you posted to the market place, but you’re selling it. Usually, this is recognized when you have filled in the proper information regarding the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and then creating a collection to start! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g., blockchain and payment tokens). After that then you’re able to upload it to the internet if it’s in the limit of 100MB.
It is possible to wait and see how transactions progress from here on out to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering what kind of NFTs can you shop for here and what you can also sell if you choose to go that route. The type of NFT it can be isn’t limited since there’s a broad range of ways to do it.
It is possible to sell digital items, trading cards game assets, domain names, and also physical goods! Find out what you think will yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what differentiates OpenSea from other companies. There are zero gas fees when you utilize this feature when you mint and sell NFTs. This means you’ll get the most profit when you sell because you won’t need to spend on any additional charges.
Very few NFT marketplaces have this feature, which is why this is great for you to receive high profit from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces that offer benefits when you refer your friend to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which allows you to earn more money by this method.
Other NFT marketplaces don’t offer the same feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.
OpenSea’s mobile apps are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections 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 using these platforms. Pipe Angle For Nft Hydroponic System
You can swap your fiat money via your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option of converting them into ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all kinds of crypto, wallets are nevertheless more compatible than other. Since it is built mainly on the ETH blockchain, any wallets which are part of the same network are suitable for the site.
Here’s a list different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Pipe Angle For Nft Hydroponic System
To know more about it, you can check their FAQs to get the steps you can get started and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties 10% to artists (low royalties).
- You cannot buy or sell products through the mobile app.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto wallet is required to access this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. In the end, you’ll easily recover that amount when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Pipe Angle For Nft Hydroponic System
What is OpenSea?
OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online, and to accept cryptocurrency as a method of payment. It’s an excellent platform for artists using the platform to market NFTs due to its low gas costs and low commission fees you must pay.
You can browse and shop for a vast collection of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legit & safe?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established on the 1st of December in 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are protected and secured.
In addition as a seller you will be verified after you build up your reputation. A blue checkmark will appear to your account or collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the content to ensure users are protected.
How do I earn royalties from OpenSea?
However, as an artist, you will receive only up to 10% of the royalties once you have uploaded the NFT. This is thought to be a reasonable amount compared with the other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as many others to accommodate the increasing number of crypto users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to use OpenSea.
How do I pay for OpenSea? What are my payment methods 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 be able to connect is your credit or Paypal to complete the exchange.
Does OpenSea have a desktop/mobile app?
As previously mentioned there’s an official mobile app from OpenSea that is available for iOS and 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 that can be downloaded through WebCatalog. In 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/).
