The crypto currency market is in a boom 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 via cryptocurrency! OpenSea is among them, and it’s worth checking out.
If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and most popular marketplaces for users of cryptocurrency due to its security and rapid transactions.
Now hop aboard, and discover the possibilities of OpenSea and also see what NFTs you can view!
Before you go on, 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 our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Strawberry Nft
The goal of OpenSea was to simply provide artists with a marketplace/platform to easily upload their commissions, without having to pay any additional costs. It has more functions that let you sell your art without too many difficulties.
For registration, you don’t need to give too many details 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 many hassles when you enter into NFTs.
The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system and is used to carry out the majority of processes. It also operates using the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains, you can choose which one you would like to publish your NFT as seller. This is to ensure the security of your NFT, along with those who wish to buy it. Every transaction will be conducted using this blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name to official art from an artist that you admire. Anyone can become a seller, but it takes some time for anyone to be a reputable one.
There’s a huge selection of NFTs available at OpenSea and you could join in with that! You can create your own personal market there, and also find NFTs you want to purchase for yourself.
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 for so long on internet that the majority of young people are familiar with it , but aren’t exactly sure what it means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the latest ways that you can buy with cryptocurrency can be an NFT. The NFT is a non-fungible currency that is unique and can’t be replaced. It could be an item of rareness like authentic baseball cards, or a unique vinyl album.
There is no limit to what an NFT can be as it’s a non-fungible object you’re selling online. It is simpler to just consider as an NFT to be a type of digital item that is paid for using cryptocurrency only.
Minting is like calling the shots for your personal NFTs. You’re claiming the ownership of the particular item that you have uploaded to the market place, but you’re putting it up for sale. Typically, this is official once you fill out the correct information about the NFT and finally upload it to the marketplace.
On OpenSea It’s a very simple procedure to create your own NFTs by visiting the store and create a collection! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like to use to use it with (e.g., blockchain and money transfer tokens). Once that’s all done you are able to upload it if it fits the limit of 100MB.
You can watch and see how transactions progress from now on to see if OpenSea is the marketplace for you.
What NFTs are available here?
In this moment you’re probably asking yourself which kind of NFT can you shop for here and what kind of NFTs you can sell should you decide to go that route. The type of NFT it can be is indefinite as there’s a variety of options for how to go about it.
You could be selling trade cards, digital goods game assets, domain names, and some physical items! Explore what you believe can bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from the others. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This simply means that you’ll get the most profit when you sell because you won’t need to spend on additional fees.
Not many NFT marketplaces offer this feature, which is why this is a great way to receive high profit from your NFT collection.
The Referral Program is a different aspect of OpenSea to take note of. Similar to traditional online markets that offer advantages by referring someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, letting you make more money from this act.
Other NFT marketplaces do not have this kind of feature either This is a further benefit OpenSea has over the other marketplaces.
There is 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.
OpenSea’s mobile apps are available for both iOS and 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
A variety of cryptocurrency exchange platforms are available at your disposal to convert your fiat money into cryptocurrency through these platforms. Strawberry Nft
You can swap your fiat money via your credit or debit card as well as Paypal through these trusted sites to exchange it for crypto:
- Bittrex and other things!
Each of them has the option of exchange for ETH, which is the standard crypto payment in OpenSea.
While OpenSea has been described as being an NFT marketplace that is open to all kinds of crypto, wallets are nevertheless more compatible than others. Because it is based using an ETH blockchain, all wallets that share the same network are suitable for this website.
Here’s a list of various crypto wallets that you can use in OpenSea:
- Authereum and many more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Strawberry Nft
To learn more about it to learn more, check out their FAQs to see an overview of how you can begin and which other wallets work with OpenSea.
Pros and Cons of OpenSea
As with many other crypto markets every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can view its pros and cons here:
- Mobile apps available for iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
- Allows royalties 10% to artists (low royalties).
- Cannot buy or sell via our mobile apps.
- Only accepts cryptocurrency as a type of payment.
- A Crypto digital wallet must be used for this marketplace.
OpenSea is open to everyone who has crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you sell regularly since there’s no additional cost for it.
Frequently Asked Questions Strawberry Nft
What is OpenSea?
OpenSea is an NFT marketplace that is designed to give artists a chance to market their work online, and to accept cryptocurrency as a form of payment. It’s an excellent platform for artists using for selling NFTs due to its no gas fees and the low commission rate you must pay.
You can shop and browse an array of digital products on this NFT marketplace and you must go through it!
Is OpenSea legitimate and is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since its inception at the end of the year 2018. Since the system it operates on is built on a blockchain that is secure, you can claim that your transactions are secure and safe.
Additionally, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark will appear on your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. The OpenSea team reviews regularly the contents to ensure users are safe.
How do I earn royalties from OpenSea?
As an artist, you’ll get only 10 percent of the royalties when you upload the NFT. This is thought to be quite low in comparison to the other NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as other sites to provide more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
These are the cryptocurrencies that you can make use of to access OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you have to do is connect your credit card or Paypal to complete the transaction.
Does OpenSea have a desktop or mobile app?
As previously mentioned There is an official mobile application from OpenSea for both iOS or Android. You can download it through their app store, and you can start browsing through the collection right now!
The Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application, you can manage multiple accounts as well as receive 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/).