Plants To Grow In A Nft Hydroponic System

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The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto-coins. Marketplaces are popping up all over the digital web designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.

So, hop on board and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!

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Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Plants To Grow In A Nft Hydroponic System

The aim to create OpenSea was to simply provide artists with a marketplace/platform to upload their commissions without any extra costs. There are additional features that allow you to sell your work without having to deal with many difficulties.

When it comes to registration, you don’t need to give all of your personal details. All you have to do is connect your crypto wallet and voila! You have an account on OpenSea! It can be as simple as that without going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It is also based with the Polygon blockchain, which ensures lower costs and faster trading.

There are two types of blockchains that are available you can pick which one you would like to transfer your NFT to as seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions are made using this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall that lets you trade your NFTs or cryptocurrency 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 however, it takes some time for anyone to be an established one.

There are a variety of NFTs in the collection at OpenSea and you can become a part of the collection! You can set up your own market there, and also find NFTs you’d like to buy yourself.

Plants To Grow In A Nft Hydroponic System

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What is an NFT?

In a recent advancement for the crypto market the term “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 is. Let’s look at what an NFT is for anyone who is new in cryptocurrency.

One of the newest things you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible currency which is extremely exclusive and cannot be changed. It can be an item of rarity like rare baseball trading cards in mint condition, or a rare vinyl record.

There’s no limit to what an NFT can be since it’s a non-fungible object you’re selling on the internet. In simpler terms, you could simply imagine an NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You are calling ownership over that particular token/item that you have uploaded to the marketplace, and putting it up for sale. Typically, this is official when you have filled in the proper information regarding the NFT and upload it to the marketplace.

On OpenSea It’s a very simple procedure to create your own NFTs by visiting the store and making a collection to begin! Fill out the proper and complete information about your NFT and select the type of settings you want for it (e.g., blockchain or payments tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.

It is possible to wait and see how transactions progress from now to determine if OpenSea is the right marketplace for you.

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What NFTs are available here?

So, at this point you’re probably asking yourself which kind of NFT be found here, and what you could also sell if you decide to go that route. The type of NFT it isn’t limited as there’s a variety of options for how to go about it.

It is possible to sell trade cards, digital goods, game assets, domain names, and even physical assets! Consider what you believe will reap the best rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager feature is what differentiates OpenSea from the others. There are zero gas fees when you use this feature to create and market NFTs. This simply means that you’ll get the most profit when you start selling because you won’t have to spend on extra fees.

There aren’t many NFT marketplaces offer this feature, and it is a great way to receive high profit from your portfolio.

Referral Program

This Referral Program is another distinctive feature of OpenSea to admire. Like traditional online marketplaces that offer advantages when you refer a friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, which allows you to earn more money through this action.

Other NFT marketplaces don’t offer the same feature This is a further benefit OpenSea has over them.

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Mobile Application

There’s an OpenSea mobile app, but it is mainly used to browse the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.

The mobile apps of OpenSea are available on the two platforms of iOS in addition to Android. Although you aren’t able to purchase or sell things, you can browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

A variety of cryptocurrency exchange platforms are available for you to use, and you can exchange your fiat money for cryptocurrency using these platforms. Plants To Grow In A Nft Hydroponic System

You can convert your fiat money via the credit card, or Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and more!

All of them have the option to exchange for ETH, which is the standard crypto payment in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all forms of cryptocurrency, the wallets nonetheless more compatible than others. Since it is built mainly using an ETH blockchain, any wallets which are part of this network are appropriate for this website.

Here is a list of various crypto wallets that you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and much more!

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each has its own limitations including simple registration, use on mobile devices only, and the function to purchase cryptocurrency using a credit card. Plants To Grow In A Nft Hydroponic System

To know more about it to learn more, check out their FAQs for the steps you can start and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets, each one has advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Available as mobile apps for iOS and Android.
  • Smart contracts can be used to perform 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 via this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • An Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. However, overall, you will quickly recover this amount if you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Plants To Grow In A Nft Hydroponic System

What is OpenSea?

OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online, and to accept cryptocurrency as their form of payment. It’s an ideal option for artists who want to use for selling NFTs due to its low gas costs and low commission fee rate you must pay.

You can browse and shop for a vast collection of digital items on the NFT marketplace which is why you should definitely go through it!

Is OpenSea legit & is it safe?

Answer: Yes! OpenSea has been a reliable marketplace since it was founded on the 1st of December in the year of 2018. Since its system is built on blockchain technology that is secure, you can declare that transactions are secure and safe.

Additionally as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on your account or the collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure that users are protected.

How can I earn royalties from OpenSea?

As an artist, you’ll be paid only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared against the other NFT marketplaces.

What are the cryptocurrency options accessible in OpenSea?

Ethereum (ETH) can be commonly used on this site and many others to accommodate the increasing number of crypto users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use to access OpenSea.

How do I pay for OpenSea? What are my payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you have to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea has a mobile or desktop application?

As previously mentioned, there is definitely an official mobile app from OpenSea that is available for iOS as well as Android. You can download it through their app store and you can start exploring the collection right now!

A version for desktops that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts as well as receive notifications about updates to your account from the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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