Cryptocurrency is booming right now, and you’re probably wondering where you can invest your crypto coins. Markets have popped up across the internet, designed to buy and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re familiar with cryptocurrency, you’ve probably heard of OpenSea before for a good reason. It’s now one of the biggest and most popular marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.
So, hop on board and discover what you can do with OpenSea, along with checking the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Speed Of Flow Thru Nft Hydroponics
The aim of OpenSea was to provide artists with a marketplace/platform to easily upload their commissions with no additional costs. It has more functions that allow you to sell your art without too many problems.
For the registration process, you don’t have to worry about giving any personal information about yourself. All you have to do is connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized to carry out the majority of processes. It is also based on the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains available, you can choose which one you’d like to publish your NFT as seller. This ensures the safety of your NFT as well as those who wish to purchase it. All transactions will be made using this blockchain, which is why you need to think about where you should 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 an official artwork from an artist you admire. Anyone can become a seller however, it takes some time for anyone to become an established one.
There are a variety of NFTs of NFTs available on OpenSea, and you can also be a part of the collection! You can create your own marketplace on this site, as well as find NFTs you want to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on internet that a lot of millennials have heard of it but not exactly sure what it is. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things you can buy can be an NFT. The NFT is a token that is non-fungible which is extremely exclusive and cannot be changed. It can be a piece of rarity like rare baseball trading cards in mint condition or a rare vinyl record.
There’s no limit to what an NFT can be as it’s a non-fungible item you’re selling on the internet. More straightforwardly, you can simply think of the NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is similar to calling for dibs for your personal NFTs. It is a way of claiming the ownership of the particular item that you posted to the marketplace, and you’re offering it for sale. Typically, this is official when you have filled in the correct information about the NFT and submit it for sale on.
On OpenSea It’s a very simple process to mint your NFTs by visiting the store and simply create a collection! Complete the correct and correct information regarding your NFT and then select what type of settings you want to use it with (e.g. blockchain, payments tokens). Once that’s all done, you can finally upload it, if it’s within the limit of 100MB.
It is possible to wait and see how transactions progress from here on out to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably asking yourself which kind of NFT can be purchased here and what you can sell should you decide to go that route. The kind of NFT that you can purchase isn’t limited since there’s a broad range of how you can do it.
It is possible to sell digital products, trading cards game assets domain names, some physical items! Find out what you think will reap the best rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what separates OpenSea from other companies. There’s no cost for gas when you utilize this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you begin selling since you won’t need to spend on extra fees.
Very few NFT marketplaces provide this feature, which is why this can be a fantastic way to make a huge profit from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets there are rewards by referring someone else to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there, you’ll receive 2.50% of the sale amount, which means you can earn more cash through this action.
Other NFT marketplaces don’t offer this feature This is a further advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listings.
The mobile apps of OpenSea are available on the two platforms of iOS and Android. Even though you can’t buy or sell anything, you can still at least browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use to convert your fiat money into cryptocurrency using these platforms. Speed Of Flow Thru Nft Hydroponics
You can exchange your fiat money via the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of them have the option of converting them into ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, the wallets still more compatible with it than others. Since it is built mainly on an ETH blockchain, all wallets that share that network will be suitable for the site.
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: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only, and the function to purchase cryptocurrency using the credit card. Speed Of Flow Thru Nft Hydroponics
For more information about the service You can go through their FAQs to see the steps you can get started and what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps are available for iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security with the support of blockchain.
- The best option for beginners to the crypto industry and NFTs.
Cons
- Allows royalties up to 10% for artists (low royalty).
- You cannot buy or sell products on this mobile application.
- Only accepts cryptocurrency as a method of payment.
- An Crypto wallet is required to use this marketplace.
Pricing
OpenSea is accessible to everyone who has any crypto currency in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percentage of commissions that all buyers on the marketplace. However, overall, you will quickly recover this amount if you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Speed Of Flow Thru Nft Hydroponics
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance to sell their works online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists who use for selling NFTs due to its no cost of gas and the low commission rate that you have to pay.
You can browse and shop for the vast array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded in the year of 2018. Since its system is built on blockchain technology that is secure, you can claim that your transactions are safe and secure.
In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed to your account or any collection you’ve uploaded to ensure the safety of every customer. The OpenSea team reviews regularly the contents to ensure users are secure.
How do I earn royalties on OpenSea?
However, as an artist, you will be paid only 10 percent of the royalties when you have uploaded the NFT. This is thought to be quite low in comparison against the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is commonly used on this site and many others to accommodate the increasing number of crypto users. These are other cryptos you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to use OpenSea.
What are the payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can buy and sell cryptocurrency on trusted platforms with fiat money. All you need just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop or mobile application?
As we mentioned earlier, there is definitely an official mobile app from OpenSea for both iOS and Android. Download it at their respective app store and begin exploring the collection now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application, you can manage multiple accounts and get notifications about updates to 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/).
