Cryptocurrency is booming right now and you’re probably wondering where to invest your crypto-coins. Markets have popped up across the digital web designed to sell and buy NFTs using cryptocurrency! OpenSea can be one and is worth checking out.
If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea before for a good reason. It’s one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Now hop aboard, and discover what you can do with OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Pp Nft Tx Assn
The aim to create OpenSea was to offer 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 the registration process, you don’t have to worry about giving all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that without going through much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system, and this is used to carry out the majority of processes. It also functions with the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains available it is possible to choose which one you would like to publish your NFT as an seller. This will ensure the security of your NFT as well as the people who want to purchase it. All transactions will be made by using the blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name, to a piece of art by an artist you admire. Anyone can sell however, it takes time for anyone to become an established seller.
There is a wide variety in the collection on OpenSea, and you can join in with the collection! You can create your own marketplace on this site, as well as find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market, the term “NFT” has been going around for so long on the internet that many millennials are familiar with it but not exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the latest ways that you can buy with cryptocurrency includes an NFT. A NFT is a token that is non-fungible which is extremely individual and cannot be replaced. It could be an item of any rareness, such as authentic baseball cards or a unique vinyl album.
There’s no limit on what an NFT could be, since it’s a non-fungible object that you sell online. More straightforwardly, you can simply consider the NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots to your NFTs. You are calling the owner of the item or token that you posted to market, as you’re putting it up for sale. Usually, this becomes official once you fill out the correct information about the NFT and then add it on the market.
On OpenSea, it’s a simple process to mine your NFTs by visiting the store and create a collection! Complete the correct and accurate information about your NFT and select the type of settings you’d like to use to use it with (e.g. blockchain or payments tokens). Once that’s all done then you’re able to upload it if it fits the limit of 100MB.
It is possible to wait and see the way transactions are handled from now to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably asking yourself what kind of NFTs can be found here and what you can also sell if you decide to pursue that route. The type of NFT that you can purchase is indefinite because there’s a wide range of how you can go about it.
You could be selling digital products, trading cards games, domain names, and even physical assets! Explore what you believe can yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that sets OpenSea from the other options. There are zero gas fees when you utilize this feature when you make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you start selling because you don’t need to pay on additional fees.
Very few NFT marketplaces provide this feature, so this can be a fantastic way to earn a high return from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets, you can receive rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from there, you’ll receive 2.50 percent of the purchase amount, which means you can earn more money by this method.
Other NFT marketplaces don’t offer this kind of feature either and that’s another benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used for perusing 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 as well as Android. Even though you can’t buy or sell things, you can at least explore the products 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 through these platforms. Pp Nft Tx Assn
You can exchange your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option of exchange for ETH, which is the primary crypto payment in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nonetheless more compatible than others. Since it is built using an ETH blockchain, wallets which are part of this network are appropriate for the site.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with credit cards. Pp Nft Tx Assn
To learn more about it, you can check their FAQs for an overview of how you can begin and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- Available as mobile apps for iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty).
- You cannot buy or sell products via our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. But overall, you can quickly recover this amount if you actively sell because there’s no additional cost for it.
Frequently Asked Questions Pp Nft Tx Assn
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 a method of payment. It’s a great option for artists who want to use for selling NFTs because of its zero gas costs and the low commission rate you must 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 legit & is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since it was founded at the end 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’ll be verified when you’ve earned a reputation. A blue checkmark will appear to your account or the collection you uploaded to reassure anyone who buys from you. The team at OpenSea regularly checks the content to ensure users are protected.
How can I earn royalties on OpenSea?
As an artist, you can get only 10 percent of the royalties when you have uploaded the NFT. This is considered to be quite low in comparison against other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as numerous others to cater for many more cryptocurrency users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary 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 through its website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned There is an official mobile app from OpenSea that is available for iOS as well as Android. You can download it through their app store, and then you can begin exploring the collection now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application, you can manage multiple accounts as well as receive alerts on any updates that affect your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
