Cryptocurrency is booming right now, and you’re probably wondering where to invest your crypto currency. Markets have popped up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is among them and is worth checking out.
If you’re interested in crypto you’ve probably heard about OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and rapid transactions.
So, hop on board and let’s see the possibilities of OpenSea, along with checking what NFTs you can view!
Before you continue, 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 of OpenSea.
OpenSea as an NFT Marketplace Plant City To Nft Myers
The aim of OpenSea was to offer a platform/marketplace for artists to easily upload their commissions, without having to pay any additional fees. It also has additional functions which allow you to market your art without too many problems.
In terms of the registration process, you don’t have to provide too many details about yourself. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that, without many hurdles as you walk 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 technology and is used for most processes. It also functions with the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains, you can choose which one you would like to publish your NFT as an seller. This ensures the safety of your NFT as well as those who would like to purchase it. Every transaction will be conducted along with this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name to official art from an artist you admire. Anyone can become a seller, but it takes a while before anyone can become a reputable one.
There’s a huge selection of NFTs available at OpenSea and you can also be a part of that! You can set up your own personal market there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the cryptocurrency industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that many millennials have heard of it but not exactly sure what it means. Let’s break down what an NFT is for any beginners in cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible currency which is extremely unique and can’t be changed. It could be an item of rareness, such as rare baseball trading cards in mint condition or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible thing that you can sell on the internet. More straightforwardly, you can simply think of as an NFT to be a type of digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs on your own NFTs. You are calling the ownership of the particular item you uploaded on the marketplace, and you’re offering it for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and select the type of settings you’d like for it (e.g. blockchain, money transfer tokens). After that you are able to upload it to the internet if it’s in the 100 MB limit.
You can wait and observe how transactions progress from now to determine whether 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 thinking about what kind of NFTs can be purchased here and what you can also sell if you decide to pursue that route. The type of NFT it is indefinite since there’s a broad range of how you can go about it.
It is possible to sell digital items, trading cards, game assets domain names, even physical assets! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that separates OpenSea from other companies. There are zero gas fees for using this feature when you create and market NFTs. This simply means that you’ll receive the maximum profits when you sell because you won’t need to spend on any additional charges.
Not many NFT marketplaces offer this feature, and it is great for you to receive high profit from your portfolio.
Referral Program
This Referral Program is a different aspect of OpenSea to be admired. Like traditional online marketplaces there are advantages by referring your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, which means you can earn more cash by this method.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible for 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 looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use, and you can exchange your fiat money for cryptocurrency using these platforms. Plant City To Nft Myers
You can swap your fiat money via your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and many more!
All of these have the option of converting them into ETH which is the standard crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built mainly on the ETH blockchain, all wallets with a connection to that network will be suitable for the site.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations like easy registration, only mobile usage, and the function to buy cryptocurrency using a credit card. Plant City To Nft Myers
To know more about it to learn more, check out their FAQs for the steps you can get started and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore 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 read about its pros and cons here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts can be used to perform 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).
- Cannot buy or sell on this mobile application.
- Only supports cryptocurrency as its type of payment.
- An Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. But overall, you can easily recover that amount when you actively sell because there’s no extra charge for it.
Frequently Asked Questions Plant City To Nft Myers
What is OpenSea?
OpenSea is an NFT marketplace that seeks to provide artists a platform for selling their artwork online and receive cryptocurrency as their form of payment. It’s an ideal option for artists who want to use the platform to market NFTs because of its zero gas fees and low commission fees you must pay.
You can browse and shop for a vast collection of digital goods in this NFT marketplace and you must go through it!
Is OpenSea legit & secure?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in the year of 2018. Since the system it operates on is built on a blockchain and is secured, it is safe to say that your transactions are protected and secured.
In addition, as a seller, you’ll be verified when you build up your reputation. A blue checkmark will appear on your account or the collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the contents to ensure users are secure.
How do I earn royalties from OpenSea?
Unfortunately, as an artist, you can receive only up to 10 percent of the royalties when you upload the NFT. This is believed to be reasonably low compared against the other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) can be commonly used on this site and numerous others to cater for the increasing number of cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies 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 through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before there’s an official mobile application from OpenSea for both iOS or Android. Install it from their app store, and then you can begin browsing through the collection right now!
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/).
