The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces popping up all over the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea is among them and is worth checking out.
If you’re well-versed in cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the biggest and most popular marketplaces for cryptocurrency users because of its security and rapid transactions.
Now hop aboard, and discover what you can do with OpenSea, along with checking what NFTs you can view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Soccer Nft Cards
The purpose to create OpenSea was to offer artists with a marketplace/platform to easily upload their commissions with no additional fees. It has more functions which allow you to market your art without too many issues.
For registration, you won’t have to worry about giving too many details about yourself. All you have to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that and without much hassle as you step into NFTs.
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also operates on the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains that are available it is possible to choose which one you would like to upload your NFT on as a seller. This ensures the safety of your NFT, along with the people who want to buy it. All transactions are made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name, to a piece of art from an artist that you admire. Anyone can become a seller, but it takes a while for anyone to become an established one.
There is a wide variety in the collection at OpenSea and you could join in with that! You can create your own market here, along with finding NFTs you’d like to buy for yourself.
What is an NFT?
A recent change in 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 aren’t exactly sure what it actually means. Let’s break down what an 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 token that is unique and can’t be replaced. This can be an item of any rareness, such as authentic baseball cards or uncommon vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible thing that you sell online. More straightforwardly, you can just imagine an NFT being a virtual collectible paid via cryptocurrency only.
Minting is like calling the shots to your NFTs. You’re claiming ownership over that particular token/item you uploaded on market, as you’re offering it for sale. Usually, this becomes official once you fill out the proper information regarding the NFT and finally submit it for sale on.
On OpenSea It’s a very simple procedure to create your own NFTs. All you have to do is visit the store and making a collection to begin! Complete the correct and correct information regarding your NFT and select the type of settings you’d like for it (e.g. blockchain and money transfer tokens). After that you are able to upload it, if it’s within the 100 MB limit.
It is possible to wait and see how transactions progress from now on to see if OpenSea is the best marketplace for you.
What NFTs can you get here?
In this moment you’re probably asking yourself which kind of NFT can be purchased here and what kind of NFTs you can also sell if you choose to go that route. The kind of NFT it can be isn’t limited because there’s a wide range of options for how to go about it.
You can be selling digital products, trading cards game assets domain names, also physical goods! Explore what you believe can yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that separates OpenSea from the other options. There are zero gas fees for using this feature to create and market NFTs. This simply means that you’ll receive the maximum profits when you begin selling since you won’t need to spend on extra fees.
Very few NFT marketplaces offer this feature, which is why this is great for you to earn a high return from your NFT collection.
The Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets that offer advantages by referring your friend 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 through this action.
Other NFT marketplaces don’t have the same feature This is a further benefit OpenSea is able to offer over other NFT marketplaces.
There is an OpenSea mobile app, but it’s mostly used to browse the marketplace. It isn’t able to purchase or sell anything as you browse through the listings.
OpenSea’s mobile apps are available for both iOS in addition to Android. Even though you can’t buy or sell something, you can at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use to trade your fiat currency for cryptocurrency on these platforms. Soccer Nft Cards
You can convert the fiat currency you have with a the credit card, or Paypal on these reliable websites to exchange it for crypto:
- Bittrex, and more!
Each of them has the option to exchange for ETH that is the most common cryptocurrency payment option in OpenSea.
While OpenSea has been described as being an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than others. Since it is built mainly around an ETH blockchain, all wallets with a connection to that network will be suitable for the site.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage as well as the capability to buy cryptocurrency using credit cards. Soccer Nft Cards
For more information about the service, you can check their FAQs to see the steps you can begin and also what other crypto wallets work with OpenSea.
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 view its pros and cons here:
- Available as mobile apps that are compatible with iOS as well as Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
- Allows royalties of only up to 10% for artists (low royalty).
- It is not possible to buy or sell items through the mobile app.
- Only supports cryptocurrency as its type of payment.
- The use of a Crypto account is needed to access this marketplace.
OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly regain that when you are actively selling since there’s no additional cost for it.
Frequently Asked Questions Soccer Nft Cards
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to provide artists a platform to market their work online, and to accept cryptocurrency as a form of payment. It’s a great platform for artists using the platform to market NFTs because of its zero cost of gas and low commission fee rate that you have to pay.
You can browse and purchase a vast collection of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since its system is based on a blockchain and is secured, it is safe to claim that your transactions are secure and safe.
In addition as a seller you will be verified after you have built up your credibility. A blue checkmark will appear on your account or the collection that you have uploaded to assure every customer. The OpenSea team reviews regularly the content to ensure that users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you can be paid only 10 percent of the royalties after you have uploaded the NFT. This is considered to be reasonably low compared against others NFT marketplaces.
What cryptocurrency is accessible in OpenSea?
Ethereum (ETH) has been frequently utilized on this website and other sites to provide the increasing number of cryptocurrency users. Below are the other cryptocurrency that you can buy on the OpenSea marketplace:
These are the primary cryptocurrencies you can utilize to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can buy and sell cryptocurrency on reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As we mentioned earlier There is an official mobile application from OpenSea that is available for iOS or Android. Download it at their respective app store and you can start exploring the collection now!
There is also a version for desktops that OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications on updates regarding 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/).