Cryptocurrency is booming right now and you’re probably thinking where you can invest your crypto-coins. There are numerous marketplaces popping up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is among them and is worth looking into.
If you’re familiar with cryptocurrency you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
Get on board, and discover what you can do with OpenSea and also see the NFTs available to view!
Before you go on, 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 of OpenSea.
OpenSea as an NFT Marketplace Tom Brady Nft
The purpose for OpenSea was to provide a platform/marketplace for artists to upload commissions, without having to pay any additional fees. It also has additional functions that allow you to sell your artwork without any issues.
For registration, you don’t need to give too many details about yourself. All you need to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s 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 market is built upon the Ethereum blockchain system and is used for the majority of transactions. It also operates on the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two types of blockchains you can pick which one you’d like to publish your NFT as an seller. This is to ensure the security of your NFT and those who wish to buy it. Every transaction will be conducted by using the blockchain, which is why you need to consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything just a domain name to an official artwork by an artist you admire. Anyone can become a seller, but it takes time for anyone to become a reputable one.
There is a wide variety in the collection on OpenSea and you can also be a part of that! You can set up your own marketplace there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that a lot of millennials are familiar with it , but not exactly sure what it means. Let’s look at what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the new things you can purchase your cryptocurrency includes an NFT. An NFT is a non-fungible token that is very exclusive and cannot be changed. This can be a piece of rareness like mint-condition baseball trading cards, or a rare vinyl record.
There is no limit to what an NFT could be, since it’s a non-fungible item that you sell online. In simpler terms, you could just think of an NFT as a digital item paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling ownership over that particular token/item you uploaded on the marketplace, and you’re selling it. Usually, this is recognized when you have filled in the proper information regarding the NFT and submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and then creating a collection to start! Input the appropriate and complete information about your NFT and then select what type of settings you want for it (e.g. blockchain, payment tokens). After you’ve completed the process then you’re able to upload it, if it’s within the 100 MB limit.
You can watch and see the way transactions are handled from now to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
At this point, you’re probably wondering the kind of NFTs be found here, and what you could also sell if you decide to go that route. The type of NFT that you can purchase is unlimited since there’s a broad range of how you can go about it.
You can be selling trade cards, digital goods, game assets, domain names, and even physical assets! Explore what you believe can bring the greatest rewards by experimenting with OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager feature is what separates OpenSea from the other options. There are zero gas fees for using this feature to create and market NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you don’t need to pay on any additional charges.
Not many NFT marketplaces have this feature, so this is a great way to receive high profit from your portfolio.
Referral Program
A Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces there are rewards by referring someone else to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site you’ll earn 2.50 percent of the purchase amount, which means you can make more money by this method.
Other NFT marketplaces don’t have this feature, so that’s just another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it’s mostly for perusing through the marketplace. It isn’t able to purchase or sell items as you browse through the listings.
The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. Even though you can’t buy or sell things, you can at least look through the options you’re interested in on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use to exchange your fiat money for cryptocurrency using these platforms. Tom Brady Nft
You can swap the fiat currency you have with a the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
Each of them has the option of exchange for ETH, which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly around an ETH blockchain, any wallets that share this network are appropriate for the site.
Here’s a list of different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, mobile-only usage as well as the capability to purchase cryptocurrency using credit cards. Tom Brady Nft
To learn more about it You can go through their FAQs to see a rundown of how you can get started and which other 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 pros here:
Pros
- Mobile apps are available that are compatible with 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 world and NFTs.
Cons
- Allows royalties 10% to artists (low royalties).
- Cannot buy or sell on the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto digital wallet must be used to use this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. But overall, you can easily recover that amount when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Tom Brady Nft
What is OpenSea?
OpenSea is an NFT marketplace that seeks to give artists a chance to market their work online to receive cryptocurrency as a form of payment. It’s an ideal platform for artists who use for selling NFTs due to its low gas costs and low commission fees you must pay.
You can shop and browse a vast collection of digital products on this NFT marketplace which is why you should definitely check it out!
Is OpenSea legit & is it safe?
Short answer: Yes! OpenSea has been a trusted marketplace since its inception at the end of 2018. Since the system it operates on is based on a blockchain, it is safe to say that your transactions are secure and safe.
Furthermore as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will appear to your account or the collection that you have uploaded to assure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are protected.
How do I earn royalties on OpenSea?
As an artist, you can be paid only 10 percent of the royalties after you upload the NFT. This is believed to be reasonably low compared to others NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be commonly used on this site as well as numerous others to cater for the increasing number of crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can make use of to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As we mentioned earlier there’s an official mobile app by OpenSea that is available for iOS and Android. Install it from their app store, and then you can begin browsing through the collection right now!
There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you can manage multiple accounts as well as receive notifications about updates to your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
