Cryptocurrency is booming right now and you’re probably wondering what you can do with your crypto-coins. Marketplaces are popping up across the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea can be one and is worth a look.
If you’re interested in crypto you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for users of cryptocurrency due to its security and quick transactions.
Now hop aboard, and discover the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you go on, you may want to watch 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 Star Wars Nft
The purpose of OpenSea was to provide an online marketplace for artists to upload their commissions without any extra costs. There are additional features that let you sell your art without too many issues.
For registration, you won’t have to worry about giving too many details about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that and without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used in the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based on the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains it is possible to choose which one you’d like to publish your NFT as seller. This is to ensure the security of your NFT, along with the people who want to buy it. Every transaction will be conducted using this blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is 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 by an artist you admire. Anyone can sell however it takes time for anyone to be an established one.
There’s a huge selection in the collection at OpenSea and you can also be a part of this! You can create your own market here, along with finding NFTs you’d like to buy for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the crypto industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials are familiar with it but aren’t exactly sure what it means. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can buy can be an NFT. The NFT is a non-fungible token which is extremely individual and cannot be changed. It could be an item of any rarity like mint-condition baseball trading cards or uncommon vinyl record.
There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell on the internet. It is simpler to just imagine an NFT as a digital collectible which is only paid in cryptocurrency.
Minting NFTs
Minting is like calling dibs for your personal NFTs. It is a way of claiming the ownership of the particular item you uploaded on market, as selling it. 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 simple process to mint your NFTs. All you have to do is visit the store and then making a collection to begin! Input the appropriate and complete information about your NFT and then select what type of settings you’d like for it (e.g. blockchain, money transfer tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
You can wait and observe how transactions progress from now on to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
At this point you’re probably thinking about the kind of NFTs can be found here and what you can sell should you decide to go down that path. The type of NFT that you can purchase is indefinite since there’s a broad range of ways to approach it.
It is possible to sell trade cards, digital goods, game assets domain names, also physical goods! Find out what you think will bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from the others. There are no gas costs when you utilize this feature when you mint and sell NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you don’t need to pay on extra fees.
Not many NFT marketplaces offer this feature, so this is great for you to make a huge profit from your NFT collection.
Referral Program
This Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces there are advantages when you refer your friend to OpenSea! If you encourage a friend join OpenSea and then purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can earn more money from this act.
Other NFT marketplaces don’t offer the same feature and that’s another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
The mobile apps of OpenSea are available for both iOS as well as Android. Although you aren’t able to purchase or sell something, you can at least explore the products you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal, and you can trade your fiat currency for cryptocurrency through these platforms. Star Wars Nft
You can swap your fiat money via the credit card, or Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
All of them have the option of exchange for ETH which is the most common cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace that is open to all types of crypto, wallets are nonetheless more compatible than other. Because it is based using an ETH blockchain, all wallets with a connection to that network will be suitable for this site.
Here’s a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, mobile-only usage, and the function to buy cryptocurrency using credit cards. Star Wars Nft
To know more about it You can go through their FAQs for the steps you can start and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Best for beginners in the crypto market and NFTs.
Cons
- Allows royalties 10% to artists (low royalties).
- Cannot buy or sell through this mobile application.
- Only accepts cryptocurrency as a method of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
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. In the end, you’ll easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Star Wars Nft
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance to sell their works online, and to accept cryptocurrency as their form of payment. It’s an excellent platform for artists using it to sell NFTs due to its no cost of gas and the low commission rate which you are required to pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace and you must go through it!
Is OpenSea real and safe?
Short answer: Yes! OpenSea has been a trusted marketplace since its inception at the end of the year of 2018. Since its system is based on a blockchain and is secured, it is safe to declare that transactions are safe and secure.
Furthermore, as a seller, you will be verified after you have built up your credibility. A blue checkmark will be assigned to your account or collection you uploaded to reassure any customer. OpenSea’s team regularly reviews the contents to ensure users are protected.
How do I earn royalties from OpenSea?
As an artist, you will be paid only 10% of the royalties once you upload the NFT. This is thought to be quite low in comparison with the other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) has been widely utilized on this website and numerous others to cater for the increasing number of crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on its website. You can buy and trade cryptocurrency using secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before there’s an official mobile app from OpenSea available for both iOS or Android. Download it at their respective app store, and then you can begin browsing through the collection right now!
A desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app 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/).
