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Cryptocurrency is booming right now and you’re probably thinking what you can do with your crypto currency. There are numerous marketplaces popping up all over the internet, designed to buy and sell NFTs with cryptocurrency! OpenSea can be one, and it’s worth a look.

If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea previously for a valid reason. It’s one of the largest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.

Get on board, and discover the possibilities of OpenSea as well as examining 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 review. After, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Recommended Soil Less Medium For Nft

The purpose to create OpenSea was to offer artists with a marketplace/platform to upload their commissions with no additional costs. It has more functions that let you sell your work without having to deal with many problems.

When it comes to registration, you won’t have to provide any personal information about yourself. All you need to do is 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 to use in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized for the majority of transactions. It also functions using the Polygon blockchain, which allows for low-cost and quicker trading.

With these two types of blockchains that are available, you can choose which one you want to publish your NFT as a seller. This is to ensure the security of your NFT, along with those who wish to buy it. Every transaction will be conducted using this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs for other NFTs. You can purchase anything from the simplest domain name to an official artwork by an artist you admire. Anyone can sell however, it takes time for anyone to be a reputable one.

There’s a huge selection of NFTs available at OpenSea and you can join in with that! You can start your own market on this site, as well as find NFTs you want to purchase yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent advancement for the cryptocurrency industry, the term “NFT” has been going around for so long on internet that a lot of millennials are familiar with it but aren’t sure exactly what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.

One of the newest things that you can buy with cryptocurrency is an NFT. A NFT is a non-fungible token that is very unique and can’t be substituted. It can be a piece of rareness like authentic baseball cards or unique vinyl album.

There’s no limit to what an NFT can be since it’s a non-fungible item that you can sell on the internet. More straightforwardly, you can simply imagine as an NFT being a virtual item paid via cryptocurrency only.

Minting NFTs

Minting is like calling dibs for your personal NFTs. You are calling ownership over that particular token/item that you posted to market, as you’re offering it for sale. Usually, this becomes official after you fill in all the necessary information about the NFT and add it on the market.

On OpenSea It’s a very simple process to mint your NFTs. All you have to do is visit the store and creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you want for it (e.g. blockchain or payment tokens). After that then you’re able to upload it to the internet if it’s in the limit of 100MB.

You can watch and see how the transactions go from now to determine if OpenSea is the right marketplace for you.

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> > Click Here to Explore OpenSea < <

What NFTs can you find here?

At this point you’re probably thinking about which kind of NFT can be found here and what you can sell should you decide to go that route. The type of NFT it is indefinite as there’s a variety of how you can approach it.

It is possible to sell trade cards, digital goods game assets domain names, some physical items! Explore what you believe can bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager features is one of the things that sets OpenSea from the other options. There are no gas costs for using 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 sell because you won’t have to spend on extra fees.

Very few NFT marketplaces provide this feature, and it is a great way to receive high profit from your portfolio.

Referral Program

This Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets that offer advantages when you refer someone else to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which allows you to earn more money through this action.

Other NFT marketplaces don’t have this feature This is a further advantage OpenSea is able to offer over other NFT marketplaces.

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> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile application, however it’s mostly to browse through 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 browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are to you You can also convert your fiat money into cryptocurrency on these platforms. Recommended Soil Less Medium For Nft

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!

All of these have the option to exchange for ETH that is the most common cryptocurrency used in OpenSea.

Crypto Wallets

While OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than other. Since it is built mainly on an ETH blockchain, all wallets with a connection to that network will be suitable for the site.

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 one has its own set of limitations including simple registration, only mobile usage as well as the capability to buy cryptocurrency using credit cards. Recommended Soil Less Medium For Nft

To know more about it You can go through their FAQs to see an overview of how you can start and what other crypto wallets work with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps are available that are compatible with iOS and Android.
  • Smart contracts can be used to perform transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties 10% for artists (low royalties).
  • It is not possible to buy or sell items on this mobile application.
  • Only accepts cryptocurrency as a method of payment.
  • An Crypto account is needed for this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. However, overall, you will easily recover that amount when you actively sell because there’s no additional cost for it.

Frequently Asked Questions Recommended Soil Less Medium For Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to give artists a chance for selling their artwork online, and to accept cryptocurrency as their form of payment. It’s an ideal platform for artists who use for selling NFTs due to its no cost of gas and the low commission rate you must pay.

You can browse and purchase a vast collection of digital products on this NFT marketplace which is why you should definitely check it out!

Is OpenSea legit & secure?

Answer: Yes! OpenSea has been a reliable marketplace since its inception on the 1st of December in 2018. Since its system is based on a blockchain and is secured, it is safe to declare that transactions are safe and secure.

Additionally as a seller you will be verified after you’ve earned a reputation. A blue checkmark is placed on your account or any collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are protected.

How can I earn royalties on OpenSea?

However, as an artist, you can get only 10% of the royalties once you upload the NFT. This is thought to be a reasonable amount compared with others NFT marketplaces.

What is the most popular cryptocurrency available in OpenSea?

Ethereum (ETH) can be frequently used on this site and numerous others to cater for many more crypto users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

Which are the accepted payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you need to do is connect your credit card or Paypal for the transaction.

Does OpenSea has a mobile or desktop app?

As we mentioned earlier There is an official mobile app by OpenSea available for both iOS and Android. Download it at their respective app store and you can start exploring the collection right now!

A Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts as well as 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/).

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> > Click Here to Explore OpenSea < <

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