Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto-coins. There are numerous marketplaces popping up across the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea is among them, and it’s worth a look.
If you’re interested in crypto you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Get on board, and let’s see what you can do with OpenSea, along with checking 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 review. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Pixel Art Nft
The goal for OpenSea was to provide an online marketplace for artists to upload commissions with no additional charges. It has more functions that let you sell your artwork without any issues.
In terms of registration, you don’t need to provide all of your personal details. All you need to do is 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.
The most well-known cryptocurrency to use within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology, and this is used for most processes. It is also based with the Polygon blockchain, which ensures low-cost and quicker trading.
With these two types of blockchains available it is possible to choose which one you’d like to publish your NFT as seller. This is to ensure the security of your NFT and those who wish to buy it. Every transaction will be conducted using 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 NFTs or cryptocurrency for other NFTs. You can buy anything as simple as a domain name to official art by an artist you admire. Anyone can become a seller however, it takes time for anyone to be an established seller.
There’s a huge selection 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.
What is an NFT?
A recent change in the crypto industry, the term “NFT” has been going around for so long on internet that many millennials are familiar with it , but aren’t sure exactly what it is. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency can be an NFT. An NFT is a non-fungible token that is exclusive and cannot be replaced. This can be a piece of rareness, such as rare baseball trading cards in mint condition, or a uncommon vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible thing you’re selling online. More straightforwardly, you can just think of the NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting is similar to calling for dibs for your personal NFTs. You are calling ownership over that particular token/item that you have uploaded to the market place, but you’re offering it for sale. Usually, this becomes official when you have filled in all the necessary information about the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward process to mint your NFTs. All you have to do is visit the store and then create a collection! Fill out the proper and correct information regarding your NFT and choose what kind of settings you’d like to use for it (e.g. blockchain and payment tokens). After you’ve completed the process then you’re able to upload it, if it’s within the 100 MB limit.
It is possible to wait and see how the transactions go from now to determine if OpenSea is the right marketplace for you.
What NFTs can you find here?
At this point you’re probably asking yourself what kind of NFTs be purchased here and what kind of NFTs you can also sell if you choose to go that route. The type of NFT it is unlimited as there’s a variety of options for how to do it.
You could be selling digital products, trading cards game assets, domain names, and even physical assets! 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 separates OpenSea from the others. There are zero gas fees when you use this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you begin selling since you won’t need to spend on additional fees.
Very few NFT marketplaces provide this feature, so this is a great way to receive high profit from your portfolio.
A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces that offer benefits by referring a friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the purchase amount, which allows you to earn more cash through this action.
Other NFT marketplaces do not have this kind of feature either, so that’s just another benefit OpenSea has over the other marketplaces.
There’s an OpenSea mobile app, but it is mainly used to browse the marketplace. You can’t buy or sell items as you scroll through the list.
The mobile apps of OpenSea are available for the two platforms of iOS and Android. While you’re not able to buy or sell something, you can at least look through the options you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available at your disposal, and you can convert your fiat money into cryptocurrency on these platforms. Pixel Art Nft
You can convert the fiat currency you have with a your credit or debit card as well as Paypal on these reliable websites for cryptocurrency:
- Bittrex, and many more!
Each of them has the option to exchange for ETH which is the most common crypto payment in OpenSea.
While OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, wallets are nonetheless more compatible than others. Because it is based on the ETH blockchain, all wallets which are part of the same network are suitable for the site.
Here’s a list of various crypto wallets that which you can use with OpenSea:
- Authereum and much more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations like easy registration, only mobile usage as well as the capability to purchase cryptocurrency with credit cards. Pixel Art Nft
To know more about it, you can check their FAQs to see a rundown of how you can start and which other wallets work with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
- Mobile apps available for iOS as well as Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto world and NFTs.
- Allows royalties 10% to artists (low royalty rates).
- You cannot buy or sell products through the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used for this marketplace.
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. But overall, you can easily recover that amount when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Pixel Art Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online and receive cryptocurrency as their form of payment. It’s a great option for artists who want to use for selling NFTs due to its low gas costs and low commission fees which you are required to pay.
You can browse and shop for a vast collection of digital goods in this NFT marketplace which is why you should definitely go through it!
Is OpenSea legitimate and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in the year of 2018. Since its system is based 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’ve earned a reputation. A blue checkmark will be assigned on your account or any collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the content to ensure users are safe.
How can I earn royalties from OpenSea?
However, as an artist, you will get only 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison with other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) has been frequently used on this site and other sites to provide more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
These are the cryptocurrencies that you can make use of for OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier There is an official mobile application from OpenSea available for both iOS or Android. Download it at their respective app store, and you can start browsing through the collection right now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you can manage multiple accounts and get alerts on any updates that affect 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/).