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The crypto currency market is in a boom right now, and you’re probably wondering what you can do with your crypto-coins. Markets have popped up all over the web that allow users to purchase and sell NFTs via cryptocurrency! OpenSea is among them and is worth checking out.

If you’re familiar with cryptocurrency, you’ve probably heard about OpenSea previously for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its safety and speedy transactions.

Get on board, and let’s see the possibilities of OpenSea as well as examining what NFTs you can view!

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Before you continue, you may want to check out this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.

OpenSea as an NFT Marketplace Wayfair Nft-Oak-T

The goal of OpenSea was to simply provide an online marketplace for artists to easily upload their commissions with no additional costs. There are additional features which allow you to market your art without too many difficulties.

In terms of registration, you don’t need to worry about giving any personal information about yourself. 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 going through much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It also operates with the Polygon blockchain, which ensures lower costs and faster trading.

With these two types of blockchains you can pick which one you would like to publish your NFT as a seller. This will ensure the security of your NFT and those who would like to buy it. Every transaction will be conducted along with this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything as simple as a domain name to official art from an artist you admire. Anyone can sell however, it takes some time for anyone to become a reputable one.

There is a wide variety from the selection at OpenSea, and you can also be a part of that! You can start your own personal market here, along with finding NFTs you’d like to buy yourself.

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> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent advancement for the crypto industry”NFT” is a term that has been used in recent times “NFT” has been going around for so long on internet that many millennials are familiar with it but not exactly sure what it actually means. Let’s look at what an NFT is for any beginners in cryptocurrency.

One of the newest things you can buy is an NFT. A NFT is a non-fungible token that is exclusive and cannot be replaced. This can be a piece of rareness like rare baseball trading cards in mint condition, or a uncommon vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible thing that you sell on the internet. More straightforwardly, you can simply imagine as an NFT to be a type of digital item that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. It is a way of claiming ownership over that particular token/item that you posted to the marketplace, and offering it for sale. Usually, this becomes official once you fill out the correct information about the NFT and finally submit it for sale on.

On OpenSea It’s a very simple process to mint your NFTs by visiting the store and creating a collection to start! Input the appropriate and complete information about your NFT and choose what kind of settings you’d like to use to use it with (e.g., blockchain, money transfer tokens). After that, you can finally upload it if it fits the limit of 100MB.

You can watch and see the way transactions are handled from here on out to determine whether OpenSea is the right marketplace for you.

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What NFTs can you find here?

In this moment, you’re probably wondering what kind of NFTs can be found here and what kind of NFTs you can also sell if you decide to pursue that route. The type of NFT it can be is indefinite as there’s a variety of how you can do it.

You can be selling trade cards, digital goods games, domain names, and some physical items! Consider what you believe will reap the best rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager features is one of the things that sets OpenSea from the other options. There’s no cost for gas when you use this feature when you mint and sell NFTs. This means you’ll receive the maximum profits when you start selling because you don’t need to pay on extra fees.

Not many NFT marketplaces have this feature, and it can be a fantastic way to receive high profit from your collection.

Referral Program

A Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site, you’ll receive 2.50 percent of the sales amount, which allows you to earn more money by this method.

Other NFT marketplaces do not have this feature, so that’s just another benefit OpenSea has over the other marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse the marketplace. It isn’t able to purchase or sell items as you scroll through the list.

The mobile apps from OpenSea are accessible for both iOS in addition to Android. While you’re not able to buy or sell things, you can at least browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are available for you to use You can also convert your fiat money into cryptocurrency through these platforms. Wayfair Nft-Oak-T

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

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

All of these have the option of exchange for ETH which is the primary crypto payment in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace open to all types of crypto, wallets are nevertheless more compatible than other. Since it is built on an ETH blockchain, all wallets with a connection to the same network are suitable for this site.

Here’s a list several crypto wallets you can utilize in OpenSea:

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

Note: The compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, mobile-only usage as well as the capability to purchase cryptocurrency using the credit card. Wayfair Nft-Oak-T

To learn more about it You can go through their FAQs to get an overview of how you can start and also what other crypto wallets are compatible with OpenSea.

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> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like many crypto marketplaces each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps available that are compatible with iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalties 10% for artists (low royalty rates).
  • Cannot buy or sell through this mobile application.
  • Only supports cryptocurrency as its method of payment.
  • An Crypto digital wallet must be used to use this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll easily recover that amount when you sell regularly since there is no additional fee for it.

Frequently Asked Questions Wayfair Nft-Oak-T

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great option for artists who want to use the platform to market NFTs due to its low gas fees and low commission fees that you have to pay.

You can shop and browse a vast collection of digital items on the NFT marketplace and you must go through it!

Is OpenSea real and is it safe?

Short answer: Yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in 2018. Since the system it operates on is built on a blockchain that is secure, you can claim that your transactions are safe and secure.

Furthermore, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the content to ensure that users are protected.

How can I earn royalties from OpenSea?

As an artist, you can get only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared with the other NFT marketplaces.

What cryptocurrency is offered in OpenSea?

Ethereum (ETH) is commonly used on this site 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 primary cryptocurrencies you can use for OpenSea.

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

OpenSea is the only platform that allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you have just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea has a mobile or desktop application?

As previously mentioned, there is definitely an official mobile app from OpenSea for both iOS or Android. You can download it through their app store and then you can begin browsing through the collection right now!

The desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application, you can manage multiple accounts and get notifications on updates regarding 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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