The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto-coins. Markets have popped up across the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is among them, and it’s worth a look.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea before for a good reason. It has become one of the biggest and most popular marketplaces for cryptocurrency enthusiasts due to its safety and speedy transactions.
So, hop on board and let’s explore what you can do with OpenSea, along with checking the NFTs available to view!
Before you go on, 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 Water Temp For Nft Micrgreens
The purpose to create OpenSea was to offer a platform/marketplace for artists to upload their commissions with no additional costs. It also has additional functions that allow you to sell your art without too many issues.
When it comes to registration, you don’t need to give all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy 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). This marketplace is built on the Ethereum blockchain technology and is used for most processes. It also operates on the Polygon blockchain, which ensures the lowest cost and speediest trading.
There are two types of blockchains that are available you can pick which one you want to transfer your NFT to as an seller. This ensures the safety of your NFT, along with those who would like 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 an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist you admire. Anyone can become a seller, but it takes some time for anyone to become an established seller.
There are a variety of NFTs in the collection of NFTs available at OpenSea and you could also be a part of this! You can create your own market there, and also find NFTs you’d like to buy for 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 for so long on internet that the majority of young people have heard of it but aren’t sure exactly what it actually means. Let’s break down what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the newest things you can purchase your cryptocurrency includes an NFT. An NFT is a token that is non-fungible that is exclusive and cannot be substituted. It can be an item of any rareness, such as authentic baseball cards or unique vinyl album.
There is no limit to what an NFT could be, since it’s a non-fungible object that you sell on the internet. It is simpler to simply imagine the NFT being a virtual item paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you posted to market, as you’re putting it up for sale. Usually, this becomes official when you have filled in the correct information about the NFT and then add it on the market.
On OpenSea it’s a straightforward process to mint your NFTs by going to the store and then creating a collection to start! Fill out the proper and correct information regarding your NFT and then select what type of settings you want for it (e.g. blockchain or payments tokens). After that, you can finally upload it to the internet if it’s in the limit of 100MB.
You can watch and see how transactions progress from now to determine whether 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 what kind of NFTs can be purchased here, and what you could also sell if you decide to pursue that route. The type of NFT it is unlimited since there’s a broad range of how you can go about it.
It is possible to sell digital items, trading cards game assets domain names, even physical assets! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what sets OpenSea from other companies. 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 get the most profit when you start selling because you won’t have to spend on additional fees.
Not many NFT marketplaces offer this feature, which is why this is a great way to earn a high return from your portfolio.
Referral Program
A Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces, you can receive advantages when you refer your 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 allows you to earn more money through this action.
Other NFT marketplaces do not have this feature, so that’s just another benefit OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available on both iOS and Android. Although you aren’t able to purchase or sell something, you can look through the options you’re looking for on the move.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are at your disposal You can also convert your fiat money into cryptocurrency on these platforms. Water Temp For Nft Micrgreens
You can swap your fiat money via the credit card, or Paypal through these trusted sites for cryptocurrency:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and other things!
All of these have the option of exchange for ETH that is the most common crypto payment in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace open to all types of cryptocurrency, wallets are nevertheless more compatible than other. Because it is based around the ETH blockchain, any wallets which are part of the same network are suitable for the site.
Here is a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each has its own limitations like easy registration, mobile-only usage and the ability to buy cryptocurrency using the credit card. Water Temp For Nft Micrgreens
To know more about it, you can check their FAQs to get an overview of how you can start 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 has advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
Pros
- Available as mobile apps that are compatible with iOS or Android.
- Smart contracts can be used to perform transactions.
- High-level security with the support of blockchain.
- Best for beginners in the crypto world and NFTs.
Cons
- Allows royalty rates of 10% to artists (low royalty).
- You cannot buy or sell products on our mobile apps.
- Only supports cryptocurrency as its method of payment.
- A Crypto digital wallet must be used to access this marketplace.
Pricing
OpenSea is open to everyone who has crypto coins in their crypto wallets. If you’re selling, OpenSea takes a 2.5% portion of commission fees for all sellers on the platform. In the end, you’ll easily recover that amount when you sell regularly since there’s no extra charge for it.
Frequently Asked Questions Water Temp For Nft Micrgreens
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to offer artists a way to market their work online and receive cryptocurrency as a method of payment. It’s an ideal platform for artists who use the platform to market NFTs due to its low gas fees and the low commission rate which you are required to pay.
You can shop and browse a vast collection of digital items on the NFT marketplace, so you should go through it!
Is OpenSea real and safe?
Short answer: Yes! OpenSea has been a trusted marketplace since it was established at the end of the year 2018. Since its system is built on blockchain technology that is secure, you can declare that transactions are safe and secure.
Additionally, as a seller, you can become verified once you build up your reputation. A blue checkmark is placed next to your account or any collection you uploaded to reassure any customer. The OpenSea team reviews regularly the contents to ensure users are secure.
How can I earn royalties on OpenSea?
As an artist, you will be paid only 10% of the royalties once you upload the NFT. This is believed to be quite low in comparison with other NFT marketplaces.
What are the cryptocurrency options available in OpenSea?
Ethereum (ETH) is widely used on this site and other sites to provide many more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the cryptocurrencies that you can make use of to access OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you need just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As mentioned before, there is definitely an official mobile app by OpenSea that is available for iOS or Android. You can download it through their app store, and begin exploring the collection right now!
A Desktop application that OpenSea can be downloaded via WebCatalog. On the desktop app, you can manage multiple accounts and get 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/).
