The cryptocurrency market is on the rise and you’re probably thinking where you can invest your crypto currency. There are numerous marketplaces popping up across the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard of OpenSea before for a good reason. It’s now one of the largest and most popular marketplaces for cryptocurrency enthusiasts due to its security and quick transactions.
Now hop aboard, and discover what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Starting Nft Hydroponic Growing
The goal for OpenSea was to provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional fees. It has more functions that allow you to sell your artwork without any issues.
For registration, you won’t have to give all of your personal details. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It’s as simple as that, without many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology which is utilized for most processes. It also functions using the Polygon blockchain, which ensures low-cost and quicker trading.
There are two types of blockchains that are available you can pick which one you would like to publish your NFT as a seller. This is to ensure the security of your NFT and the people who want to buy it. Every transaction will be conducted using this blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace 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, but it takes some time for anyone to be a reputable one.
There are a variety of NFTs in the collection on OpenSea and you could join in with this! You can create your own personal market there, and also find NFTs that you would like to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials are familiar with it but aren’t exactly sure what it actually 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 new things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible currency that is very unique and can’t be replaced. It could be an item of rareness, such as authentic baseball cards or rare vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible object that you sell on the internet. In simpler terms, you could just imagine an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. It is a way of claiming ownership over that particular token/item you uploaded on the market place, but offering it for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea it’s a straightforward 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 select the type of settings you’d like to use to use it with (e.g. blockchain, payments tokens). After that, you can finally upload it if it fits the 100 MB limit.
It is possible to wait and see how transactions progress from here on out to determine whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
So, at this point you’re probably asking yourself what kind of NFTs be found here and what you can sell should you decide to pursue that route. The kind of NFT that you can purchase is indefinite since there’s a broad range of how you can approach it.
You could be selling digital products, trading cards, game assets, domain names, and also physical goods! Consider what you believe will yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what separates OpenSea from the other options. There’s no cost for gas for using this feature when you make and then sell the NFTs. This simply means that you’ll receive the maximum profits when you start selling because you won’t need to spend on additional fees.
Not many NFT marketplaces have this feature, so this is great for you to receive high profit from your NFT collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Similar to traditional online markets there are rewards when you refer someone else to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there, you’ll receive 2.50 percent of the purchase amount, letting you earn more money from this act.
Other NFT marketplaces do not have this feature This is a further benefit OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listings.
The mobile apps of OpenSea are available on the two platforms of iOS and Android. While you’re not able to buy or sell anything, you can still at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are for you to use, and you can trade your fiat currency for cryptocurrency through these platforms. Starting Nft Hydroponic Growing
You can convert your fiat currency using a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
All of them have the option to exchange for ETH which is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, wallets are still more compatible with it than others. Because it is based using an ETH blockchain, wallets which are part of this network are appropriate for this site.
Here’s a list of several crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using a credit card. Starting Nft Hydroponic Growing
To learn more about it, you can check their FAQs to get the steps you can begin and which other wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:
Pros
- Mobile apps available that are compatible with iOS or Android.
- Smart contracts are utilized for 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 up to 10% for artists (low royalty rates).
- Cannot buy or sell through the mobile app.
- Only supports cryptocurrency as its form of payment.
- A Crypto wallet is required for this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. When you are 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 sell regularly since there’s no additional cost for it.
Frequently Asked Questions Starting Nft Hydroponic Growing
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance for selling their artwork online, and to accept cryptocurrency as a form of payment. It’s an ideal platform for artists who use for selling NFTs because of its zero gas fees and low commission fees which you are required to pay.
You can shop and browse an array of digital products on this NFT marketplace, so you should go through it!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea has been a trusted marketplace since its inception on the 1st of December in the year of 2018. Since the system it operates on is built on a blockchain that is secure, you can declare that transactions are secure and safe.
Additionally, as a seller, you can become verified once you build up your reputation. A blue checkmark will be assigned next to your account or the collection that you have uploaded to assure any customer. OpenSea’s team regularly reviews the content to ensure that users are safe.
How can I earn royalties on OpenSea?
As an artist, you’ll get only 10% of the royalties once you have uploaded the NFT. This is considered to be reasonably low compared against the other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) has been commonly used on this site as well as numerous others to cater for the increasing number of cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of for OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency through reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned There is an official mobile application from OpenSea available for both iOS as well as Android. Install it from their app store, and begin exploring the collection now!
A version for desktops that OpenSea can be downloaded via WebCatalog. In the desktop application, you can 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/).
