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 web that allow users 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 likely heard of OpenSea before for a good reason. It’s one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Get on board, and let’s see what you can do with OpenSea, along with checking the NFTs that you can see!
Before you go on, you may want to check out 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.
OpenSea as an NFT Marketplace Sell Nft Art
The purpose of OpenSea was to provide artists with a marketplace/platform to upload their commissions, without having to pay any additional costs. There are additional features that let you sell your work without having to deal with many difficulties.
For registration, you won’t have to worry about giving too many details about yourself. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that without going through many hassles when you enter into NFTs.
The most well-known cryptocurrency that is used in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based using the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two kinds of blockchains available you can pick which one you’d like to upload your NFT on as seller. This will ensure the security of your NFT, along with those who wish to purchase it. All transactions are made along with this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless where you can trade in your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name to an official artwork from an artist that you admire. Anyone can be a seller, but it takes time before anyone can become a reputable one.
There are a variety of NFTs of NFTs available at OpenSea and you could become a part of the collection! You can set up your own marketplace here, along with finding NFTs that you would like to purchase yourself.
What is an NFT?
A recent change in the crypto market,”NFT” is a term that has been used in recent times “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 look at what an NFT is for anyone who is new in cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. A NFT is a non-fungible currency that is unique and can’t be replaced. It can be a piece of rarity like rare baseball trading cards in mint condition or a unique vinyl album.
There’s no limit on what an NFT can be as it’s a non-fungible item you’re selling online. It is simpler to just consider as an NFT as a digital item paid via cryptocurrency only.
Minting is like calling the shots on your own NFTs. It is a way of claiming the owner of the item or token that you posted to market, as putting it up for sale. Usually, this becomes official when you have filled in the correct information about the NFT and finally add it on the market.
On OpenSea it’s a straightforward procedure to create your own NFTs. All you have to do is visit the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and then select what type of settings you’d like to use it with (e.g. blockchain or payments tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.
You can wait and observe the way transactions are handled from now on to see if OpenSea is the right marketplace for you.
What NFTs can you get here?
So, at this point, you’re probably wondering what kind of NFTs be found here and what kind of NFTs you can sell should you decide to go down that path. The kind of NFT it can be isn’t limited as there’s a variety of ways to go about it.
You could be selling digital items, trading cards, game assets domain names, some physical items! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the others. There are zero gas fees when you utilize this feature when you create and market NFTs. This simply means that you’ll receive the maximum profits when you start selling because you don’t need to pay on any additional charges.
Not many NFT marketplaces have this feature, which is why this can be a fantastic way to make a huge profit from your collection.
This Referral Program is a different aspect of OpenSea to admire. Similar to traditional online markets that offer rewards when you refer someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the purchase amount, letting you earn more cash from this act.
Other NFT marketplaces don’t have this feature, so that’s just another advantage OpenSea has over the other marketplaces.
There is an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell items as you browse through the listings.
The mobile apps of OpenSea are available on both iOS in addition to Android. Even though you can’t buy or sell anything, you can still at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency using these platforms. Sell Nft Art
You can convert your fiat currency using a the credit card, or Paypal via these reputable websites for cryptocurrency:
- Bittrex and other things!
All of them have the option of exchange for ETH that is the most common crypto payment in OpenSea.
Although OpenSea can be described as an NFT marketplace that is open to all kinds of crypto, wallets are nevertheless more compatible than others. Because it is based around the ETH blockchain, wallets with a connection to that network will be suitable for this website.
Here’s a list of different crypto wallets you can utilize in OpenSea:
- Authereum and much more!
Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage, and the function to purchase cryptocurrency using credit cards. Sell Nft Art
For more information about the service to learn more, check out their FAQs for an overview of how you can get started and what other crypto wallets work with 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 view its pros and cons here:
- Available as mobile apps for iOS or Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto industry and NFTs.
- Allows royalty rates of 10% for artists (low royalties).
- You cannot buy or sell products through the mobile app.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto account is needed to access this marketplace.
OpenSea is open to everyone who owns any 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. But overall, you can quickly recover this amount if you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Sell Nft Art
What is OpenSea?
OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online and receive cryptocurrency as their form of payment. It’s an excellent platform for artists using it to sell NFTs due to its low cost of gas and low commission fee rate you must pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legitimate and safe?
The short answer is yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year 2018. Because its system is based on a blockchain that is secure, you can declare that transactions are protected and secured.
Furthermore as a seller you will be verified after you build up your reputation. A blue checkmark will appear next to your account or any collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are protected.
How can I earn royalties on OpenSea?
As an artist, you can be paid only 10% of the royalties once you upload the NFT. This is considered to be reasonably low compared with other NFT marketplaces.
What cryptocurrency is available in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as many others to accommodate the increasing number of cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:
These are the cryptocurrencies that you can use for OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile app?
As we mentioned earlier There is an official mobile application from OpenSea available for both iOS and Android. Install it from their app store, and then you can begin exploring the collection now!
The desktop application for OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts and receive 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/).