When Was Nftart Launched

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The crypto currency market is in a boom right now and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up across the digital web designed to buy and sell NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re familiar with cryptocurrency, you’ve likely heard of OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.

So, hop on board and let’s explore the possibilities of OpenSea as well as examining the NFTs that you can see!

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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 of OpenSea.

OpenSea as an NFT Marketplace When Was Nftart Launched

The purpose for OpenSea was to offer artists with a marketplace/platform to upload commissions without any extra costs. It has more functions that let you sell your art without too many issues.

When it comes to registration, you won’t have to worry about giving all of your personal details. All you have to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based using the Polygon blockchain, which ensures lower costs and faster trading.

With these two types of blockchains available, you can choose which one you want to publish your NFT as seller. This ensures the safety of your NFT and those who would like to purchase it. Every transaction will be conducted by using the blockchain, and you must think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an endless online mall where you can exchange your NFTs or cryptocurrency for other NFTs. You can buy anything just a domain name to official art from an artist you admire. Anyone can be a seller, but it takes some time for anyone to be an established seller.

There are a variety of NFTs in the collection at OpenSea and you can become a part of this! You can create your own market there, and also find NFTs you’d like to buy yourself.

When Was Nftart Launched

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What is an NFT?

A recent change in the crypto market,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials have heard of it but aren’t sure exactly what it means. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.

One of the newest things you can purchase your cryptocurrency includes an NFT. A NFT is a non-fungible token which is extremely exclusive and cannot be replaced. It can be an item of any rareness like rare baseball trading cards in mint condition or a rare vinyl record.

There’s no limit to what an NFT can be as it’s a non-fungible item that you can sell on the internet. More straightforwardly, you can simply consider the NFT being a virtual item that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling dibs on your own NFTs. You are calling ownership over that particular token/item you uploaded on the market place, but putting it up for sale. Usually, this becomes official when you have filled in the correct information about the NFT and then upload it to the marketplace.

On OpenSea, it’s a simple process to mint your NFTs by going to the store and creating a collection to start! Fill out the proper and complete information about your NFT and choose what kind of settings you’d like to use it with (e.g., blockchain or money transfer tokens). Once that’s all done then you’re able to upload it if it fits the limit of 100MB.

You can wait and observe 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 asking yourself which kind of NFT be found here and what you can also sell if you decide to go down that path. The type of NFT it can be is unlimited as there’s a variety of options for how to approach it.

You could be selling digital items, trading cards games domain names, also physical goods! Explore what you believe can bring the greatest rewards when you try out OpenSea.

OpenSea: Collection Manager Feature

The collection Manager feature is what differentiates OpenSea from the others. There are zero gas fees for using this feature to make and then sell the NFTs. This simply means that you’ll be able to make the highest profits once you begin selling since you don’t need to pay on additional fees.

Very few NFT marketplaces provide this feature, and it can be a fantastic way to receive high profit from your portfolio.

Referral Program

A Referral Program is a different aspect of OpenSea to be admired. Like traditional online marketplaces there are benefits when you refer a friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from the site you’ll earn 2.50% of the sale amount, which means you can earn more cash through this action.

Other NFT marketplaces do not have this feature and that’s another benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything as you browse through the listings.

OpenSea’s mobile apps are available on the two platforms of iOS as well as Android. Even though you can’t buy or sell things, you can look through the options you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are at your disposal, and you can exchange your fiat money for cryptocurrency using these platforms. When Was Nftart Launched

You can convert your fiat money via your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:

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

All of them have the option to exchange for 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 types of cryptocurrency, the wallets still more compatible with it than others. Because it is based on the ETH blockchain, all wallets that share this network are appropriate for this website.

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

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

*Note: Wallets that are compatible with crypto can be found on OpenSea’s FAQ page. Each has its own limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency using a credit card. When Was Nftart Launched

To know more about it You can go through their FAQs to see the steps you can start and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

As with many other crypto markets each one comes with its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons 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 support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties up to 10% for artists (low royalty).
  • You cannot buy or sell products on our mobile apps.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto wallet is required to use this marketplace.

Pricing

OpenSea is open to everyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. In the end, you’ll easily recover that amount when you sell regularly since there’s no extra charge for it.

Frequently Asked Questions When Was Nftart Launched

What is OpenSea?

OpenSea is an NFT marketplace that seeks to give artists a chance to market their work online, and to accept cryptocurrency as a form of payment. It’s an ideal option for artists who want to use it to sell NFTs due to its no gas fees and the low commission rate which you are required to pay.

You can browse and purchase a vast collection of digital products on this NFT marketplace and you must go through it!

Is OpenSea legit & secure?

Short answer: Yes! OpenSea is a reputable marketplace since it was founded in the year 2018. Since its system is built on blockchain technology and is secured, it is safe to declare that transactions are protected and secured.

Additionally, as a seller, you will be verified after you build up your reputation. A blue checkmark will appear on your account or any collection you uploaded to reassure every customer. OpenSea’s team regularly reviews the content to ensure users are safe.

How can 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 believed to be quite low in comparison against the other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been frequently used on this site and other sites to provide 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 use to access OpenSea.

What are the payment methods for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges through its website. It is easy to buy or sell cryptocurrency on 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 previously mentioned, there is definitely an official mobile application from OpenSea that is available for iOS or Android. You can download it through their app store and you can start exploring the collection now!

The desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application 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/).

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