The crypto currency market is in a boom right now and you’re probably thinking where you can invest your crypto coins. Marketplaces are popping up across the digital web designed to buy and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea previously for a valid reason. It’s one of the largest and most popular marketplaces among users of cryptocurrency due to its safety and speedy transactions.
Now hop aboard, and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Super Rare Nft
The aim of OpenSea was to simply provide an online marketplace for artists to upload their commissions, without having to pay any additional charges. There are additional features which allow you to market your artwork without any issues.
For registration, you don’t need to worry about giving all of your personal details. All you have to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It can be as simple as that and without many hassles when you enter into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency used on the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized for most processes. It also functions on the Polygon blockchain, which allows for low-cost and quicker trading.
With these two types of blockchains available, you can choose which one you would like to transfer your NFT to as seller. This ensures the safety of your NFT, along with those who would like to buy it. Every transaction will be conducted using this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from just a domain name, to a piece of art by an artist you admire. Anyone can sell however it takes some time for anyone to be an established seller.
There is a wide variety in the collection on OpenSea and you can join in with this! You can set up your own personal 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 development for the crypto market the term “NFT” has been going around for so long on internet that a lot of millennials have heard of it but aren’t exactly sure what it means. Let’s look at what an NFT is for any beginners in the field of cryptocurrency.
One of the new things you can buy can be an NFT. The NFT is a token that is non-fungible that is very individual and cannot be replaced. It could be an item of rarity like rare baseball trading cards in mint condition, or a rare vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible thing that you sell on the internet. In simpler terms, you could simply think of the NFT being a virtual item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming ownership over that particular token/item that you posted to the market place, but selling it. Usually, this becomes official after you fill in the correct information about the NFT and finally submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and simply creating a collection to start! Input the appropriate and correct information regarding your NFT and select the type of settings you want to use it with (e.g., blockchain or money transfer tokens). Once that’s all done, you can finally upload it to the internet if it’s in the limit of 100MB.
It is possible to wait and see the way transactions are handled from now on to see whether OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering which kind of NFT be purchased here, and what you could also sell if you choose to pursue that route. The type of NFT it can be isn’t limited as there’s a variety of ways to go about it.
It is possible to sell digital products, trading cards game assets, domain names, and even physical assets! Find out what you think will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that sets OpenSea from the other options. There are zero gas fees for using this feature to make and then sell the NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t have to spend on any additional charges.
Not many NFT marketplaces have this feature, and it is a great way to earn a high return from your portfolio.
Referral Program
The Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets there are rewards by referring a friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, letting you earn more money from this act.
Other NFT marketplaces don’t have this kind of feature either, so that’s just another advantage OpenSea has over them.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it’s mostly used to browse through the marketplace. You can’t buy or sell items as you scroll through the list.
The mobile apps of OpenSea are available for both iOS in addition to Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re interested in while on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available at your disposal You can also trade your fiat currency for cryptocurrency through these platforms. Super Rare 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 many more!
All of these have the option to exchange for ETH, which is the standard cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace that is open to all forms of cryptocurrency, the wallets nonetheless more compatible than other. Because it is based on an ETH blockchain, all wallets with a connection to this network are appropriate for this site.
Here’s a list of various crypto wallets that you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage, and the function to purchase cryptocurrency using the credit card. Super Rare Nft
For more information about the service You can go through their FAQs to see the steps you can get started and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all 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:
Pros
- Mobile apps available that are compatible with iOS as well as Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto world and NFTs.
Cons
- Allows royalty rates of 10% for artists (low royalties).
- You cannot buy or sell products through this mobile application.
- Only supports cryptocurrency as its method of payment.
- The use of a Crypto account is needed to access this marketplace.
Pricing
OpenSea is available to anyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. However, overall, you will quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Super Rare Nft
What is OpenSea?
OpenSea is an NFT marketplace that aims to give artists a chance to market their work online to receive cryptocurrency as a form of payment. It’s an ideal option for artists who want to use for selling NFTs because of its zero gas costs and low commission fee rate you must pay.
You can browse and purchase the vast array of digital products on this NFT marketplace which is why you should definitely take a look!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since its inception in the year of 2018. Because its system is based on a blockchain that is secure, you can claim that your transactions are protected and secured.
In addition, as a seller, you’ll be verified when you build up your reputation. A blue checkmark is placed to your account or any collection you’ve uploaded to ensure the safety of any customer. The team at OpenSea regularly checks the contents to ensure users are safe.
How do I earn royalties from OpenSea?
However, as an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be reasonably low compared to the other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) has been commonly used on this site as well as many others to accommodate the increasing number of crypto users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can buy and sell cryptocurrency through secure platforms that accept fiat money. All you need be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As mentioned before there’s an official mobile application from OpenSea that is available for iOS or Android. Install it from their app store, and begin browsing through the collection right now!
There is also a desktop application for OpenSea that can be downloaded through WebCatalog. On the desktop app you are able to manage multiple accounts and get 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/).
