The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto coins. Markets have popped up across the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea can be one and is worth a look.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Now hop aboard, and let’s see what you can do with OpenSea and also see the NFTs available to view!
Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Wall Mounted Nft System
The aim of OpenSea was to provide a platform/marketplace for artists to easily upload their commissions, without having to pay any additional fees. There are additional features that allow you to sell your work without having to deal with many problems.
When it comes to registration, you don’t need to give too many details about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it, and this is used for the majority of transactions. It also functions using the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two kinds of blockchains that are available it is possible to choose which one you would like to upload your NFT on as seller. This ensures the safety of your NFT as well as the people who want to buy it. Every transaction will be conducted by using the 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 marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything as simple as a domain name, to a piece of art from an artist that you admire. Anyone can be a seller, but it takes time for anyone to become a reputable one.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you can become a part of this! You can create your own personal market here, along with finding NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials are familiar with it but not exactly sure what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in cryptocurrency.
One of the newest things you can purchase your cryptocurrency is an NFT. The NFT is a non-fungible token which is extremely individual and cannot be changed. This can be an item of rareness, such as authentic baseball cards or a uncommon vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible item that you sell online. It is simpler to simply consider the NFT as a digital item that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You are calling the ownership of the particular item that you have uploaded to market, as you’re putting it up for sale. Typically, this is official after you fill in the correct information about the NFT and upload it to the marketplace.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and then creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you want for it (e.g. blockchain or payments tokens). After you’ve completed the process, you can finally upload it if it fits the 100 MB limit.
It is possible to wait and see how the transactions go from now to determine if OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you get here?
So, at this point, you’re probably wondering the kind of NFTs you shop for here and what kind of NFTs you can also sell if you choose to go that route. The type of NFT it isn’t limited since there’s a broad range of how you can approach it.
You can be selling digital items, trading cards game assets, domain names, and some physical items! Explore what you believe can bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager features is one of the things that separates OpenSea from the others. There are no gas costs when you use this feature when you mint and sell NFTs. This means you’ll be able to make the highest profits once you sell because you won’t have to spend on additional fees.
Very few NFT marketplaces offer this feature, which is why this is great for you to receive high profit from your portfolio.
Referral Program
This Referral Program is another distinctive feature of OpenSea to admire. Similar to traditional online markets there are rewards when you refer your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll be rewarded with 2.50% of the sale amount, which means you can earn more money through this action.
Other NFT marketplaces don’t offer this kind of feature either and that’s another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly 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 on both iOS as well as Android. Although you aren’t able to purchase or sell things, you can at least explore the products you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are to you to exchange your fiat money for cryptocurrency using these platforms. Wall Mounted Nft System
You can convert your fiat money via the credit card, or Paypal via these reputable websites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and other things!
Each of them has the option to exchange for ETH that is the standard crypto payment in OpenSea.
Crypto Wallets
Although OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, wallets are nevertheless more compatible than others. Since it is built around the ETH blockchain, wallets that share this network are appropriate for this website.
Here’s a list different crypto wallets which you can use with OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and many more!
*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage as well as the capability to purchase cryptocurrency using a credit card. Wall Mounted Nft System
For more information about the service You can go through their FAQs to get a rundown 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 each one comes with advantages and drawbacks. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:
Pros
- Available as mobile apps for iOS and Android.
- Smart contracts are used for transactions.
- High-level security , with the backing of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty rates).
- Cannot buy or sell through the mobile app.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto account is needed to access this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees that all buyers on the marketplace. In the end, you’ll quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Wall Mounted Nft System
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to provide artists a platform to sell their works online, and to accept cryptocurrency as their form of payment. It’s a great option for artists who want to use it to sell NFTs due to its no gas fees and low commission fee rate which you are required to pay.
You can shop and browse an array of digital goods in this NFT marketplace and you must take a look!
Is OpenSea real and safe?
The short answer is yes! OpenSea has been a reliable marketplace since it was founded at the end of the year 2018. Since the system it operates on is built on a blockchain, it is safe to claim that your transactions are secure and safe.
Furthermore as a seller you will be verified after you build up your reputation. A blue checkmark is placed next to your account or the collection you uploaded to reassure anyone who buys from you. The team at OpenSea regularly checks the contents to ensure users are secure.
How can I earn royalties from OpenSea?
As an artist, you will get only 10 percent of the royalties after you have uploaded the NFT. This is thought to be reasonably low compared with others NFT marketplaces.
What cryptocurrency is offered in OpenSea?
Ethereum (ETH) can be commonly utilized on this website and many others to accommodate many more cryptocurrency users. Here are the other cryptocurrencies you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can utilize to access OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on reliable platforms using fiat currency. All you need be able to connect is your credit or Paypal to complete the transaction.
Does OpenSea have a desktop/mobile application?
As previously mentioned There is an official mobile app by OpenSea available for both iOS and Android. You can download it through their app store and then you can begin browsing through the collection right now!
The Desktop application that OpenSea can be downloaded via WebCatalog. In the desktop application you can manage multiple accounts as well as receive alerts on any updates that affect your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
