The crypto currency market is in a boom right now, and you’re probably wondering where you can invest your crypto coins. Markets have popped up all over the digital web designed to sell and buy NFTs using cryptocurrency! OpenSea is one of them, and it’s worth checking out.
If you’re interested in crypto you’ve probably heard about OpenSea before for a good reason. It’s one of the biggest and leading marketplaces among users of cryptocurrency due to its safety and speedy 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 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 Pva Alternatives Nft Garden
The purpose to create OpenSea was to provide artists with a marketplace/platform to upload their commissions with no additional costs. There are additional features that let you sell your art without too many difficulties.
For the registration process, you don’t have to give too many details about yourself. All you have to connect your crypto wallet and voila! You have an account with OpenSea! It’s as easy as that, without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most widely-used cryptocurrency used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It also operates with the Polygon blockchain, which allows for lower costs and faster trading.
There are two types of blockchains you can pick which one you’d like to upload your NFT on as seller. This will ensure the security of your NFT and those who would like to buy it. Every transaction will be conducted by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online mall where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name to an official artwork from an artist you admire. Anyone can become a seller however, it takes some time before anyone can become an established seller.
There’s a huge selection from the selection on OpenSea, and you can become a part of that! You can set up your own market there, and also find NFTs you’d like to buy 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 a lot of millennials are familiar with it , but not exactly sure what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things that you can buy with cryptocurrency includes an NFT. An NFT is a non-fungible currency which is extremely individual and cannot be replaced. It could be an item of rarity like mint-condition baseball trading cards or a rare vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible object you’re selling on the internet. It is simpler to just consider an NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots for your personal NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to market, as you’re selling it. Typically, this is official after you fill in the correct information about the NFT and add it on the market.
On OpenSea it’s a straightforward process to mine your NFTs. All you have to do is visit the store and making a collection to begin! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use it with (e.g., blockchain or money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the limit of 100MB.
You can watch and see the way transactions are handled from here on out to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point, you’re probably wondering the kind of NFTs can be purchased here, and what you could also sell if you choose to go that route. The kind of NFT it can be is indefinite since there’s a broad range of how you can approach it.
You can be selling trade cards, digital goods, game assets domain names, even physical assets! Consider what you believe will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from the others. There are no gas costs for using this feature to mint and sell NFTs. This simply means that you’ll get the most profit when you sell because you won’t need to spend on additional fees.
Not many NFT marketplaces have this feature, and it is great for you to make a huge profit from your NFT collection.
Referral Program
The Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces there are advantages when you refer someone else to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more cash from this act.
Other NFT marketplaces do not have this kind of feature either, so that’s just another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.
The mobile apps from OpenSea are accessible on both iOS in addition to Android. Although you aren’t able to purchase or sell something, you can at least explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available to you, and you can exchange your fiat money for cryptocurrency on these platforms. Pva Alternatives Nft Garden
You can convert your fiat money via the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option to exchange for ETH that is the most common cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nevertheless more compatible than others. Because it is based around an ETH blockchain, all wallets which are part of that network will be suitable for this site.
Here is a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Pva Alternatives Nft Garden
To know more about it to learn more, check out their FAQs for the steps you can begin and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces each one comes with 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 as well as Android.
- Smart contracts are utilized for transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty rates).
- You cannot buy or sell products through our mobile apps.
- Only accepts cryptocurrency as a method of payment.
- A Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is open to everyone who has 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 actively sell because there’s no extra charge for it.
Frequently Asked Questions Pva Alternatives Nft Garden
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to offer artists a way to market their work online to receive cryptocurrency as a method of payment. It’s a great platform for artists using for selling NFTs due to its no gas costs and low commission fee rate that you have to pay.
You can browse and shop for an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and secure?
Short answer: Yes! OpenSea has been a reliable marketplace since it was established in 2018. Since its system is based on a blockchain, it is safe to claim that your transactions are secure and safe.
In addition as a seller you can become verified once you build up your reputation. A blue checkmark will be assigned to your account or any collection you’ve uploaded to ensure the safety of anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are safe.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is considered to be quite low in comparison to the other NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been frequently used on this site and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of for OpenSea.
What are the payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or trade cryptocurrency using trusted platforms with fiat money. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier There is an official mobile app from OpenSea for both iOS and Android. Download it at their respective app store, and begin exploring the collection now!
There is also a version for desktops that OpenSea can be downloaded via WebCatalog. On the desktop app you are able to manage multiple accounts and 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/).
