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The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto coins. There are numerous marketplaces popping up all over the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea can be one and is worth a look.

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 biggest and leading marketplaces among users of cryptocurrency 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!

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Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of our article for a more comprehensive review.

OpenSea as an NFT Marketplace Usc Nft

The goal of OpenSea was to provide artists with a marketplace/platform to upload commissions with no additional fees. It has more functions that let you sell your artwork without any difficulties.

In terms of registration, you don’t need to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account on OpenSea! It’s as simple as that, without many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency that is used on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It also functions on the Polygon blockchain, which ensures low-cost and quicker trading.

With these two kinds of blockchains it is possible to choose which one you’d like to publish your NFT as a seller. This will ensure the security of your NFT, along with the people who want to buy it. All transactions are made using this blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall where you can trade in your cryptocurrency or NFTs for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist you admire. Anyone can become a seller however it takes some time for anyone to be a reputable one.

There are a variety of NFTs of NFTs available of NFTs available at OpenSea, and you can become a part of that! You can start your own marketplace there, and also find NFTs you’d like to buy for yourself.

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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 actually means. Let’s take a look at what 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 can be an NFT. An NFT is a non-fungible currency that is very individual and cannot be replaced. It can be an item of rarity like mint-condition baseball trading cards or a uncommon vinyl record.

There is no limit to what an NFT can be since it’s a non-fungible object that you can sell on the internet. In simpler terms, you could simply consider an NFT as a digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is like calling dibs to your NFTs. You’re claiming the owner of the item or token that you have uploaded to the market place, but offering it for sale. Usually, this becomes official after you fill in all the necessary information about the NFT and submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs by visiting the store and simply making a collection to begin! Complete the correct and accurate information about your NFT and select the type of settings you’d like to use it with (e.g., blockchain or payments tokens). Once that’s all done then you’re able to upload it, if it’s within the limit of 100MB.

You can watch and see how transactions progress from now on to determine if OpenSea is the best marketplace for you.

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What NFTs can you get here?

So, at this point, you’re probably wondering what kind of NFTs can be purchased here, and what you could sell should you decide to go that route. The type of NFT it can be is unlimited as there’s a variety of options for how to go about it.

It is possible to sell digital items, trading cards games, domain names, and even physical assets! Consider what you believe will reap the best rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that differentiates OpenSea from the others. There are no gas costs for using this feature when you create and market NFTs. This simply means that you’ll get the most profit when you begin selling since you won’t have to spend on additional fees.

There aren’t many NFT marketplaces provide this feature, which is why this is great for you to receive high profit from your portfolio.

Referral Program

A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets that offer advantages when you refer a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which means you can make more money through this action.

Other NFT marketplaces do not have this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it’s mostly used to browse the marketplace. You can’t buy or sell anything as you browse through the listing.

The mobile apps of OpenSea are available on both iOS in addition to Android. Although you aren’t able to purchase or sell things, you can at least browse through the selections you’re interested in while on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency on these platforms. Usc Nft

You can exchange your fiat currency using a your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and more!

All of these have the option of converting them into ETH which is the most common cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea can be described as an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nevertheless more compatible than others. Because it is based on an ETH blockchain, wallets with a connection to that network will be suitable for this site.

Here is a list of different crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and more!

*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations including simple registration, mobile-only usage as well as the capability to buy cryptocurrency using the credit card. Usc Nft

To learn more about it to learn more, check out their FAQs to see a rundown of how you can start and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces 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 pros here:

Pros

  • Available as mobile apps that are compatible with iOS and Android.
  • Smart contracts are utilized for transactions.
  • High-level security with the support of blockchain.
  • Ideal for those who are new to the crypto industry and NFTs.

Cons

  • Allows royalties of only 10% for artists (low royalties).
  • You cannot buy or sell products on the mobile app.
  • Only supports cryptocurrency as its method of payment.
  • 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 a seller, 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’s no additional cost for it.

Frequently Asked Questions Usc Nft

What is OpenSea?

OpenSea can be described as 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 who use it to sell NFTs due to its no cost of gas and low commission fee rate that you have to pay.

You can shop and browse an array of digital products on this NFT marketplace and you must go through it!

Is OpenSea real and safe?

Short answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in the year of 2018. Since the system it operates on is based on a blockchain that is secure, you can say that your transactions are safe and secure.

Furthermore, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark will be assigned next to your account or the collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are protected.

How do I earn royalties from OpenSea?

However, as an artist, you’ll get only 10 percent of the royalties when you upload the NFT. This is thought to be a reasonable amount compared with others NFT marketplaces.

What are the cryptocurrency options accessible in OpenSea?

Ethereum (ETH) can be commonly used on this site and other sites to provide many more crypto users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the core cryptocurrencies you can use for OpenSea.

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges on the website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal for the transaction.

Does OpenSea has a mobile or desktop app?

As mentioned before, there is definitely an official mobile application from OpenSea for both iOS and Android. Install it from their app store and you can start browsing through the collection right now!

There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application you can manage multiple accounts and get notifications about updates to 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/).

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