The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto-coins. Markets have popped up all over the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and let’s see what you can do with OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Sell Music Nft
The goal of OpenSea was to provide a platform/marketplace for artists to upload commissions without any extra fees. There are additional features that let you sell your artwork without any difficulties.
When it comes to registration, you won’t have to provide all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology which is utilized for the majority of transactions. It also operates on the Polygon blockchain to ensure low-cost and quicker trading.
There are two types of blockchains available it is possible to choose which one you want to transfer your NFT to as an seller. This will ensure the security of your NFT, along with those who would like to buy it. Every transaction will be conducted by using the blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can become a seller however, it takes time for anyone to be an established seller.
There is a wide variety of NFTs available on OpenSea, and you can also be a part of this! You can create your own marketplace here, along with finding NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t exactly sure what it is. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the latest ways you can purchase your cryptocurrency includes an NFT. A NFT is a non-fungible currency that is unique and can’t be substituted. It can be a piece of rareness like mint-condition baseball trading cards or a unique vinyl album.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you can sell online. It is simpler to just think of an NFT being a virtual collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling the shots on your own NFTs. You’re claiming the ownership of the particular item that you posted to the marketplace, and offering it for sale. Typically, this is official after you fill in the proper information regarding the NFT and finally upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and making a collection to begin! Input the appropriate and correct information regarding your NFT and choose what kind of settings you’d like for it (e.g. blockchain, payments tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how the transactions go from now to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably thinking about what kind of NFTs can be found here, and what you could also sell if you choose to go down that path. The kind of NFT that you can purchase is unlimited since there’s a broad range of options for how to do it.
You can be selling digital items, trading cards, game assets domain names, also physical goods! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what sets OpenSea from the other options. There are no gas costs when you utilize this feature when you make and then sell the NFTs. This means you’ll receive the maximum profits when you sell because you won’t need to spend on extra fees.
There aren’t many NFT marketplaces provide this feature, so this is a great way to receive high profit from your NFT collection.
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 a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site you’ll earn 2.50% of the sale amount, letting you earn more cash by this method.
Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it is mainly used to browse through the marketplace. You can’t buy or sell anything while you browse through the listings.
The mobile apps of OpenSea are available on both iOS and Android. Even though you can’t buy or sell something, you can browse through the selections you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency on these platforms. Sell Music Nft
You can swap your fiat currency using a your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
Each of them has the option to exchange for ETH which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all forms of crypto, wallets are nevertheless more compatible than other. Because it is based on an ETH blockchain, wallets with a connection to this network are appropriate for this site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage as well as the capability to buy cryptocurrency using the credit card. Sell Music Nft
To know more about it You can go through their FAQs to get the steps you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Available as mobile apps that are compatible with iOS and Android.
- Smart contracts can be used to perform transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto industry and NFTs.
Cons
- Allows royalties of only 10% to artists (low royalty).
- Cannot buy or sell via the mobile app.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. However, overall, you will quickly recover this amount if you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Sell Music Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists who use for selling NFTs due to its no gas fees and the low commission rate you must pay.
You can browse and shop for an array of digital items on the NFT marketplace which is why you should definitely go through it!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was founded on the 1st of December in the year 2018. Since its system is based on a blockchain, it is safe to declare that transactions are secure and safe.
Additionally, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark will appear on your account or collection that you have uploaded to assure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you will be paid only 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison against the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be commonly used on this site and numerous others to cater for more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize for OpenSea.
What are the payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you have be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier, there is definitely an official mobile app by OpenSea 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 Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application, you can manage multiple accounts and get notifications on updates regarding 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/).
