The crypto currency market is in a boom right now and you’re probably wondering where you can invest your crypto currency. Markets have popped up all over the internet, designed to sell and buy NFTs using cryptocurrency! OpenSea is among them and is worth a look.
If you’re well-versed in cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It’s now one of the largest and most popular marketplaces among cryptocurrency enthusiasts due to its security and rapid transactions.
Get on board, and let’s see the possibilities of OpenSea as well as examining 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. After, you will want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Where Can I Sell Nft
The goal of OpenSea was to simply provide a platform/marketplace for artists to upload commissions without any extra fees. It has more functions that let you sell your art without too many problems.
When it comes to registration, you don’t need to give all of your personal details. All you need to do is connect your crypto wallet–and voila!–you have an account with OpenSea! It can be as simple as that, without much hassle as you step into NFTs.
The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system which is utilized to carry out the majority of processes. It is also based with the Polygon blockchain, which ensures the lowest cost and speediest trading.
With these two kinds of blockchains you can pick which one you want to upload your NFT on as a seller. This ensures the safety of your NFT and those who wish to buy it. All transactions are made by using the blockchain, so you should think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online marketplace where you can exchange your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name, to a piece of art from an artist you admire. Anyone can become a seller, but it takes some time for anyone to be an established seller.
There is a wide variety in the collection of NFTs available at OpenSea and you could become a part of that! You can create your own marketplace there, and also find NFTs you’d like to buy yourself.
What is an NFT?
A recent change in the crypto market, the term “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t sure exactly what it means. Let’s take a look at what NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the latest ways that you can buy with cryptocurrency can be an NFT. The NFT is a token that is non-fungible which is extremely unique and can’t be changed. It could be a piece of rareness like rare baseball trading cards in mint condition or a unique vinyl album.
There’s no limit to what an NFT can be since it’s a non-fungible item that you can sell online. It is simpler to simply consider as an NFT being a virtual item paid via cryptocurrency only.
Minting is similar to calling for dibs for your personal NFTs. You are calling ownership over that particular token/item that you posted to the marketplace, and you’re putting it up for sale. Usually, this becomes official when you have filled in the correct information about the NFT and upload it to the marketplace.
On OpenSea, it’s a simple process to mint your NFTs by going to the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and choose what kind of settings you’d like to use to use it with (e.g. blockchain or money transfer tokens). After you’ve completed the process then you’re able to upload it if it fits the limit of 100MB.
You can wait and observe how the transactions go from now on to determine if OpenSea is the marketplace for you.
What NFTs can you get here?
In this moment you’re probably asking yourself which kind of NFT you shop for here, and what you could also sell if you choose to pursue that route. The type of NFT it can be is indefinite as there’s a variety of how you can approach it.
It is possible to sell digital products, trading cards game assets, domain names, and also physical goods! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from the others. There are zero gas fees when you utilize this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you sell because you won’t have to spend on any additional charges.
There aren’t many NFT marketplaces provide this feature, and it is a great way to make a huge profit from your portfolio.
The Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets that offer benefits when you refer your friend to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which allows you to make more money by this method.
Other NFT marketplaces don’t offer this kind of feature either This is a further benefit OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile app, but it’s mostly to browse through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.
The mobile apps from OpenSea are accessible on both iOS and Android. Even though you can’t buy or sell anything, you can still look through the options you’re interested in on the go.
Crypto Exchange Platforms
A variety of cryptocurrency exchange platforms are available for you to use You can also exchange your fiat money for cryptocurrency using these platforms. Where Can I Sell Nft
You can swap your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:
- Bittrex and more!
Each of them has the option of exchange for ETH that is the primary cryptocurrency payment option in OpenSea.
Although OpenSea has been described as being an NFT marketplace that is open to all kinds of cryptocurrency, wallets are nonetheless more compatible than other. Since it is built mainly using the ETH blockchain, any wallets with a connection to the same network are suitable for this website.
Here is a list of several crypto wallets you can utilize in OpenSea:
- Authereum and much more!
*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, mobile-only usage, and the function to buy cryptocurrency using credit cards. Where Can I Sell Nft
For more information about the service, you can check their FAQs to see the steps you can get started and what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like many crypto marketplaces every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can read about its pros and cons here:
- Available as mobile apps for iOS and Android.
- Smart contracts are used for transactions.
- Security at the highest level with the help of blockchain.
- Ideal for those who are new to the crypto market and NFTs.
- Allows royalty rates of 10% to artists (low royalties).
- It is not possible to buy or sell items via the mobile app.
- Only supports cryptocurrency as its form of payment.
- A Crypto wallet is required to use this marketplace.
OpenSea is accessible to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly regain that when you sell regularly since there is no additional fee for it.
Frequently Asked Questions Where Can I Sell Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that is designed 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 using it to sell NFTs due to its no gas fees and low commission fees you must pay.
You can shop and browse an array of digital items on the NFT marketplace, so you should check it out!
Is OpenSea real and secure?
The short answer is yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year of 2018. Since its system is based on a blockchain that is secure, you can declare that transactions are secure and safe.
In addition, as a seller, you will be verified after you build up your reputation. A blue checkmark will be assigned on your account or collection you uploaded to reassure anyone who buys from you. OpenSea’s team regularly reviews the content to ensure users are safe.
How can I earn royalties on OpenSea?
As an artist, you’ll receive only up to 10% of the royalties once you have uploaded the NFT. This is thought to be quite low in comparison with other NFT marketplaces.
What are the cryptocurrency options offered in OpenSea?
Ethereum (ETH) has been widely used on this site and numerous others to cater for more crypto users. Here are the other cryptocurrencies that you can buy on the OpenSea marketplace:
These are the core cryptocurrencies you can make use of for OpenSea.
How do I pay for OpenSea? What are my payment methods for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. 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 mentioned before, there is definitely an official mobile app by OpenSea available for both iOS or Android. Install it from their app store, and begin exploring the collection right now!
The desktop application for OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts and get alerts on any updates that affect your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).