Rick Northcraft Nft

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The cryptocurrency market is on the rise, and you’re probably wondering where you can invest your crypto-coins. There are numerous marketplaces popping 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 previously for a valid reason. It’s now one of the biggest and most popular marketplaces for 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 of OpenSea.

OpenSea as an NFT Marketplace Rick Northcraft Nft

The purpose to create OpenSea was to offer artists with a marketplace/platform to easily upload their commissions without any extra charges. It has more functions that allow you to sell your artwork without any issues.

In terms of registration, you don’t need to provide any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as simple as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used to carry out the majority of processes. It is also based using the Polygon blockchain to ensure low-cost and quicker trading.

With these two types of blockchains that are available you can pick which one you’d like to upload your NFT on as seller. This is to ensure the security of your NFT as well as those who would like to purchase it. All transactions will be made by using the blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from as simple as a domain name, to a piece of art by an artist you admire. Anyone can become a seller however, it takes a while for anyone to be an established seller.

There’s a huge selection of NFTs available of NFTs available at OpenSea and you can also be a part of this! You can set up your own market there, and also find NFTs you’d like to buy yourself.

Rick Northcraft Nft

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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 a lot of millennials have heard of it but not exactly sure what it is. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the latest ways that you can buy with cryptocurrency includes an NFT. The NFT is a non-fungible token which is extremely unique and can’t be changed. It can be a piece of rareness, such as authentic baseball cards or a rare vinyl record.

There’s no limit on what an NFT could be, since it’s a non-fungible item that you sell online. In simpler terms, you could just consider the NFT to be a type of digital collectible which is only paid in cryptocurrency.

Minting NFTs

Minting is like calling dibs to your NFTs. You are calling the owner of the item or token that you posted to market, as you’re offering it for sale. Typically, this is official when you have filled in the correct information about the NFT and upload it to the marketplace.

On OpenSea, it’s a simple process to mine your NFTs by going to the store and then making a collection to begin! Complete the correct and accurate information about your NFT and then select what type of settings you’d like for it (e.g. blockchain and money transfer tokens). After you’ve completed the process, you can finally upload it, if it’s within the 100 MB limit.

You can watch and see how the transactions go from now to see whether OpenSea is the best marketplace for you.

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What NFTs can you find here?

So, at this point you’re probably thinking about the kind of NFTs can you shop for here and what kind of NFTs you can sell should you decide to go that route. The type of NFT it can be is unlimited as there’s a variety of how you can approach it.

You could be selling digital items, trading cards game assets, domain names, and even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what separates OpenSea from the others. There’s no cost for gas when you use this feature when you create and market 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 any additional charges.

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

Referral Program

The Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets there are rewards by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50 percent of the sales amount, which allows you to make more money by this method.

Other NFT marketplaces don’t offer this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.

OpenSea’s mobile apps are available for the two platforms of iOS and Android. Although you aren’t able to purchase or sell anything, you can still look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are for you to use You can also trade your fiat currency for cryptocurrency on these platforms. Rick Northcraft Nft

You can exchange your fiat currency using a the credit card, or Paypal on these reliable websites for cryptocurrency:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

Each of them has the option of exchange for ETH that is the most common cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are still more compatible with it than others. Since it is built 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: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency with credit cards. Rick Northcraft Nft

For more information about the service You can go through their FAQs to see a rundown of how you can begin and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS or 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 world and NFTs.

Cons

  • Allows royalty rates of 10% for artists (low royalty rates).
  • It is not possible to buy or sell items via this mobile application.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. But overall, you can quickly regain that when you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Rick Northcraft Nft

What is OpenSea?

OpenSea can be described as an NFT marketplace that seeks to give artists a chance to sell their works online and receive 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 fees and low commission fee rate you must pay.

You can shop and browse the vast array of digital goods in this NFT marketplace, so you should check it out!

Is OpenSea real and is it safe?

Answer: Yes! OpenSea is a reputable marketplace since it was founded in the year of 2018. Since its system is built on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.

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

How do I earn royalties from OpenSea?

However, as an artist, you can be paid only 10 percent of the royalties when you have uploaded the NFT. This is thought to be reasonably low compared against the other NFT marketplaces.

What is the most popular cryptocurrency offered in OpenSea?

Ethereum (ETH) is frequently used on this site and numerous others to cater for the increasing number of crypto users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can use for OpenSea.

Which are the accepted payment methods for OpenSea?

OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal to complete the transaction.

Does OpenSea have a desktop/mobile app?

As previously mentioned, there is definitely an official mobile app from OpenSea available for both iOS or Android. Download it at their respective app store, and you can start browsing through the collection right now!

There is also 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 alerts on any updates that affect 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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