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 web that allow users to sell and buy NFTs with cryptocurrency! OpenSea is one of them and is worth a look.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea prior to this for a valid reason. It has become one of the largest and leading marketplaces among users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and let’s explore 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 overview. After, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Shark Card Gta 5 Online Nft
The goal to create OpenSea was to provide artists with a marketplace/platform to easily upload their commissions without any extra fees. There are additional features that let you sell your art without too many issues.
When it comes to registration, you won’t have to provide any personal information about yourself. All you have to do is connect your cryptocurrency 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.
OpenSea: Blockchain
The most widely-used cryptocurrency used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It is also based on the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains that are available it is possible to choose which one you would like to transfer your NFT to as seller. This is to ensure the security of your NFT as well as the people who want to buy it. All transactions are made by using the blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name, to a piece of art from an artist that you admire. Anyone can be a seller however, it takes some time for anyone to become an established seller.
There is a wide variety in the collection at OpenSea and you could also be a part of this! You can create your own market here, along with finding NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it , but not exactly sure what it is. Let’s take a look at what NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can purchase your cryptocurrency is an NFT. An NFT is a non-fungible currency which is extremely unique and can’t be replaced. This can be an item of any rarity like mint-condition baseball trading cards, or a rare vinyl record.
There’s no limit on what an NFT could be, since it’s a non-fungible object that you can sell on the internet. In simpler terms, you could simply think of as an NFT as a digital collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs to your NFTs. It is a way of claiming ownership over that particular token/item that you have uploaded to the marketplace, and you’re offering it for sale. Typically, this is official once you fill out all the necessary information about the NFT and then add it on the market.
On OpenSea it’s a straightforward process to mine your NFTs. All you have to do is visit the store and simply create a collection! Input the appropriate and complete information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain, payment tokens). After you’ve completed the process then you’re able to upload it if it fits the 100 MB limit.
You can watch and see how transactions progress from now to determine whether OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point you’re probably thinking about what kind of NFTs can be found here, and what you could also sell if you decide to pursue that route. The type of NFT it isn’t limited since there’s a broad range of ways to do 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
The collection Manager function is the one that sets OpenSea from the others. There are zero gas fees when you utilize this feature to mint and sell NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you won’t need to spend on extra fees.
There aren’t many NFT marketplaces offer this feature, which is why this can be a fantastic way to make a huge profit from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to admire. Like traditional online marketplaces there are benefits when you refer someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, which allows you to make more money by this method.
Other NFT marketplaces don’t offer the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it is mainly used for perusing through the marketplace. You can’t buy or sell anything while you scroll through the list.
The mobile apps from OpenSea are accessible on both iOS as well as Android. While you’re not able to buy or sell things, you can at least look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are available to you to convert your fiat money into cryptocurrency through these platforms. Shark Card Gta 5 Online Nft
You can swap your fiat currency using a your credit or debit card as well as Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
All of them have the option of converting them into ETH, which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea is an NFT marketplace open to all types of cryptocurrency, the wallets nevertheless more compatible than other. Because it is based using an ETH blockchain, any wallets that share the same network are suitable for this website.
Here’s a list of various crypto wallets that which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, only mobile usage, and the function to purchase cryptocurrency using credit cards. Shark Card Gta 5 Online Nft
To know more about it to learn more, check out their FAQs for an overview of how you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalty rates).
- It is not possible to buy or sell items through our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- The use of a Crypto account is needed to access this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. But overall, you can quickly recover this amount if you actively sell because there is no additional fee for it.
Frequently Asked Questions Shark Card Gta 5 Online Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform to sell their works online, and to accept cryptocurrency as their form of payment. It’s an ideal option for artists who want to use the platform to market NFTs due to its low cost of gas and low commission fee rate you must pay.
You can shop and browse the vast array of digital products on this NFT marketplace and you must take a look!
Is OpenSea legit & is it safe?
The short answer is yes! OpenSea has been a reliable marketplace since it was established on the 1st of December in 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are protected and secured.
Additionally as a seller you will be verified after you have built up your credibility. A blue checkmark will appear next to your account or collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the contents to ensure users are secure.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you can get only 10 percent of the royalties when you upload the NFT. This is considered to be quite low in comparison to other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) is commonly used on this site and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency 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 through its website. It is easy to buy or sell cryptocurrency through reliable platforms using fiat currency. All you need to do is connect your credit card or Paypal for the transaction.
Does OpenSea have a desktop or mobile app?
As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store and you can start browsing through the collection right now!
A version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application, you can manage multiple accounts and 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/).
