Cryptocurrency is booming right now and you’re probably wondering where you can invest your crypto coins. Marketplaces are popping up across the digital web designed to sell and buy NFTs using cryptocurrency! OpenSea is one of them, and it’s worth checking out.
If you’re interested in crypto, you’ve probably heard about OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
So, hop on board and let’s explore the possibilities of OpenSea as well as examining the NFTs that you can see!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Va OpenSeason
The goal of OpenSea was to offer artists with a marketplace/platform to upload commissions without any extra costs. It also has additional functions which allow you to market your work without having to deal with many difficulties.
For registration, you won’t have to provide all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it and is used to carry out the majority of processes. It is also based using the Polygon blockchain, which ensures low-cost and quicker trading.
With these two kinds of blockchains it is possible to choose which one you want to transfer your NFT to as an seller. This is to ensure the security of your NFT as well as the people who want to purchase 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 in exchange for other NFTs. It is possible to purchase anything just a domain name to official art from an artist that you admire. Anyone can be a seller however, it takes a while for anyone to be an established one.
There is a wide variety from the selection of NFTs available at OpenSea, and you can become a part of the collection! You can start your own market on this site, as well as find NFTs you want 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 for so long on the internet that the majority of young people are familiar with it but aren’t exactly sure what it is. 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 includes an NFT. The NFT is a non-fungible currency that is very individual and cannot be changed. It could be an item of rareness like rare baseball trading cards in mint condition or a unique vinyl album.
There is no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. It is simpler to simply imagine an NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots on your own NFTs. It is a way of claiming the ownership of the particular item you uploaded on market, as you’re offering it for sale. Typically, this is official once you fill out the correct information about the NFT and submit it for sale on.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and then create a collection! Input the appropriate and correct information regarding your NFT and then select what type of settings you’d like to use for it (e.g., blockchain or payments tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
You can wait and observe the way transactions are handled from here on out to determine if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
So, at this point, you’re probably wondering which kind of NFT be found here and what kind of NFTs you can also sell if you choose to go down that path. The type of NFT that you can purchase isn’t limited as there’s a variety of options for how to do it.
It is possible to sell digital items, trading cards games, domain names, and even physical assets! Explore what you believe can yield the most profit when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what differentiates OpenSea from the others. There are no gas costs for using this feature to make and then sell the NFTs. This is essentially a way to ensure that you receive the maximum profits when you begin selling since you won’t need to spend on any additional charges.
Not many NFT marketplaces offer this feature, so this is a great way to earn a high return from your portfolio.
Referral Program
The Referral Program is another distinctive feature of OpenSea to take note of. Like traditional online marketplaces, you can receive rewards when you refer a friend to OpenSea! If you refer a friend to join OpenSea and buy an NFT from there, you’ll receive 2.50 percent of the purchase amount, letting you earn more money by this method.
Other NFT marketplaces don’t offer this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. It isn’t able to purchase or sell anything as you scroll through the list.
OpenSea’s mobile apps are available for the two platforms of iOS and Android. Even though you can’t buy 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 for you to use to convert your fiat money into cryptocurrency through these platforms. Va OpenSeason
You can convert the fiat currency you have with 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 of converting them into ETH that is the primary cryptocurrency used in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built using the ETH blockchain, wallets which are part of this network are appropriate for the site.
Here’s a list various crypto wallets that you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage and the ability to buy cryptocurrency using credit cards. Va OpenSeason
To learn more about it You can go through their FAQs for an overview of how you can get started and what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has advantages and disadvantages. OpenSea isn’t the only one to have this. You can view its pros and cons here:
Pros
- Mobile apps are available that are compatible with iOS or Android.
- Smart contracts are utilized for transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalties 10% to artists (low royalty).
- Cannot buy or sell on this mobile application.
- Only supports cryptocurrency as its form of payment.
- The use of a Crypto account is needed to use this marketplace.
Pricing
OpenSea is accessible to everyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. But overall, you can quickly recover this amount if you actively sell because there’s no extra charge for it.
Frequently Asked Questions Va OpenSeason
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed to give artists a chance to sell their works online to receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use it to sell NFTs due to its no gas fees and low commission fees you must pay.
You can browse and shop for a vast collection of digital items on the NFT marketplace, so you should go through it!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in 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.
Furthermore, as a seller, you’ll be verified when you have built up your credibility. 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 that users are protected.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you can receive only up to 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison with the other NFT marketplaces.
What is the most popular cryptocurrency available in OpenSea?
Ethereum (ETH) can be widely utilized on this website and other sites to provide many more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can use for OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. You can buy and sell cryptocurrency through reliable platforms using fiat currency. 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 an official mobile app from OpenSea that is available for iOS or Android. You can download it through their app store and begin exploring the collection now!
A desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts and get alerts on any updates that affect 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/).
