Cryptocurrency is booming 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 buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces for cryptocurrency users because of its security and quick transactions.
Now hop aboard, and discover what you can do with OpenSea as well as examining 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’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Sell Nft
The aim for OpenSea was to simply provide an online marketplace for artists to upload commissions without any extra fees. It has more functions that let you sell your artwork without any difficulties.
When it comes to the registration process, you don’t have to give all of your personal details. All you have to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain system which is utilized for most processes. It is also based with the Polygon blockchain, which allows for the lowest cost and speediest trading.
With these two types of blockchains that are available it is possible to choose which one you’d like to upload your NFT on as a seller. This ensures the safety of your NFT and the people who want to buy it. Every transaction will be conducted along with this blockchain, and you must think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name, to a piece of art from an artist that you admire. Anyone can become a seller, but it takes some time for anyone to become an established seller.
There’s a huge selection of NFTs available of NFTs available at OpenSea, and you can join in with that! You can start your own marketplace here, along with finding NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on the internet that the majority of young people are familiar with it but aren’t sure exactly what it actually means. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.
One of the latest ways you can purchase your cryptocurrency is an NFT. A NFT is a token that is non-fungible that is very exclusive and cannot be changed. This can be an item of any rareness like rare baseball trading cards in mint condition or rare vinyl record.
There’s no limit on what an NFT can be since it’s a non-fungible object that you can sell on the internet. It is simpler to just imagine as an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. It is a way of claiming the ownership of the particular item you uploaded on the market place, but offering it for sale. Usually, this becomes official after you fill in the correct information about the NFT and then upload it to the marketplace.
On OpenSea, it’s a simple process to mint your NFTs by visiting the store and simply creating a collection to start! Input the appropriate and correct information regarding your NFT and then select what type of settings you’d like to use it with (e.g. blockchain and money transfer tokens). After you’ve completed the process you are able to upload it if it fits the limit of 100MB.
It is possible to wait and see how the transactions go from here on out to see whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point you’re probably asking yourself what kind of NFTs be found here and what kind of NFTs you can sell should you decide to go that route. The type of NFT that you can purchase is unlimited since there’s a broad range of ways to approach it.
It is possible to sell digital products, trading cards, game assets domain names, even physical assets! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from other companies. There are no gas costs for using this feature to create and market NFTs. This means you’ll receive the maximum profits when you start selling because you won’t have to spend on extra fees.
Not many NFT marketplaces provide this feature, which is why this is great for you to make a huge profit from your collection.
Referral Program
This Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are benefits by referring someone else to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there you’ll be rewarded with 2.50% of the sale amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t have the same feature and that’s another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly to browse the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still explore the products you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are for you to use to trade your fiat currency for cryptocurrency using these platforms. Sell Nft
You can exchange your fiat money via your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of these have the option to exchange for ETH which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all forms of cryptocurrency, the wallets still more compatible with it than other. Since it is built mainly around the ETH blockchain, wallets with a connection to the same network are suitable for this website.
Here’s a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to buy cryptocurrency using credit cards. Sell Nft
To know more about it You can go through their FAQs for an overview of how you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as 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 market and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalties).
- It is not possible to buy or sell items on our mobile apps.
- Only supports cryptocurrency as its type of payment.
- A Crypto wallet is required for this marketplace.
Pricing
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Sell Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to provide artists a platform to sell their works online, and to accept cryptocurrency as their form of payment. It’s an ideal platform for artists using the platform to market NFTs because of its zero gas fees and the low commission rate which you are required to pay.
You can shop and browse the vast array of digital items on the NFT marketplace and you must take a look!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in the year 2018. Since the system it operates on is built on blockchain technology that is secure, you can declare that transactions are secure and safe.
Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will appear on your account or collection you uploaded to reassure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
Unfortunately, as an artist, you will receive only up to 10% of the royalties once you upload the NFT. This is believed to be quite low in comparison to the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be commonly utilized on this website and other sites to provide many more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can buy and sell cryptocurrency through trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile app?
As we mentioned earlier There is an official mobile application from OpenSea for both iOS or Android. You can download it through their app store and begin exploring the collection now!
The desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and get notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
