The cryptocurrency market is on the rise and you’re probably thinking where to invest your crypto-coins. There are numerous marketplaces popping up all over the web that allow users to purchase and sell NFTs using cryptocurrency! OpenSea is one of them, and it’s 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 largest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.
So, hop on board and let’s explore the possibilities of OpenSea as well as examining the NFTs available to view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Where To Buy OpenSea Crypto
The aim of OpenSea was to simply provide artists with a marketplace/platform to easily upload their commissions without any extra charges. There are additional features that allow you to sell your work without having to deal with many problems.
In terms of the registration process, you don’t have to worry about giving too many details about yourself. All you have to do is connect your crypto wallet and voila! You have an account with OpenSea! It can be as simple as that and without much hassle as you step into NFTs.
The most popular cryptocurrency used on the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain system which is utilized for most processes. It also functions on the Polygon blockchain to ensure lower costs and faster trading.
With these two kinds of blockchains available it is possible to choose which one you want to upload your NFT on as seller. This ensures the safety of your NFT, along with the people who want to buy it. All transactions are made by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online marketplace that lets you trade your NFTs or cryptocurrency for other NFTs. You can purchase anything from the simplest domain name to an official artwork by an artist you admire. Anyone can sell however, it takes some time for anyone to be an established seller.
There is a wide variety of NFTs available at OpenSea, and you can also be a part of this! You can start your own personal market here, along with finding NFTs that you would like to purchase yourself.
What is an NFT?
In a recent advancement for the cryptocurrency industry,”NFT” is a term that has been used in recent times “NFT” has been going around so long on the internet that the majority of young people are familiar with it , but aren’t sure exactly what it is. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.
One of the new things you can buy includes an NFT. The NFT is a non-fungible token that is very individual and cannot be substituted. It could be a piece of rareness like authentic baseball cards or uncommon vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible item that you sell on the internet. In simpler terms, you could simply consider an NFT to be a type of digital collectible which is only paid in cryptocurrency.
Minting is like calling dibs to your NFTs. You are calling the ownership of the particular item that you have uploaded to market, as offering it for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea it’s a straightforward process to mine your NFTs by going to the store and simply making a collection to begin! Complete the correct and accurate information about your NFT and select the type of settings you’d like to use for it (e.g. blockchain or money transfer tokens). After that, you can finally upload it to the internet if it’s in the 100 MB limit.
You can watch and see how the transactions go from now on to determine if OpenSea is the right marketplace for you.
What NFTs are available here?
So, at this point you’re probably thinking about the kind of NFTs can be found here and what kind of NFTs you can sell should you decide to go down that path. The type of NFT it can be is unlimited since there’s a broad range of ways to go about it.
It is possible to sell digital items, trading cards, game assets, domain names, and even physical assets! Consider what you believe will reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager function is the one that separates OpenSea from the other options. There’s no cost for gas when you utilize this feature when you create and market NFTs. This is essentially a way to ensure that you be able to make the highest profits once you sell because you won’t have to spend on additional fees.
There aren’t many NFT marketplaces have this feature, so this is a great way to receive high profit from your collection.
This Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces, you can receive advantages 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 percent of the purchase amount, which allows you to make more money through this action.
Other NFT marketplaces don’t have this kind of feature either and that’s another benefit OpenSea has over them.
There is an OpenSea mobile app, but it’s mostly to browse the marketplace. You can’t buy or sell items as you browse through the listing.
The mobile apps from OpenSea are accessible for both iOS as well as Android. While you’re not able to buy or sell anything, you can still look through the options you’re interested in while on the go.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use You can also trade your fiat currency for cryptocurrency on these platforms. Where To Buy OpenSea Crypto
You can convert your fiat currency using a credit card or Paypal via these reputable websites for cryptocurrency:
- Bittrex and other things!
All of them have the option of exchange for ETH, which is the standard cryptocurrency used in OpenSea.
Although OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built mainly around the ETH blockchain, all wallets which are part of that network will be suitable for this site.
Here is a list of various crypto wallets that you can utilize in OpenSea:
- Authereum and much more!
Note: The compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, use on mobile devices only, and the function to purchase cryptocurrency with credit cards. Where To Buy OpenSea Crypto
To learn more about it You can go through their FAQs to see the steps you can begin and also what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like all crypto markets, each one has its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:
- Mobile apps are available for iOS as well as Android.
- Smart contracts are utilized 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 royalties of only 10% for artists (low royalty).
- You cannot buy or sell products through the mobile app.
- Only accepts cryptocurrency as a method of payment.
- An Crypto account is needed to access this marketplace.
OpenSea is available to anyone who owns any crypto coins in their cryptocurrency wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. However, overall, you will easily recover that amount when you are actively selling since there is no additional fee for it.
Frequently Asked Questions Where To Buy OpenSea Crypto
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to market their work online, and to accept cryptocurrency as their form of payment. It’s an excellent platform for artists who use the platform to market NFTs due to its no gas fees and low commission fees which you are required to pay.
You can browse and shop for the vast array of digital goods in this NFT marketplace, so you should take a look!
Is OpenSea real and is it safe?
The short answer is yes! OpenSea has been a trusted marketplace since its inception in 2018. Because its system is built on blockchain technology and is secured, it is safe to claim that your transactions are protected and secured.
Additionally as a seller you’ll be verified when you build up your reputation. A blue checkmark will appear next to your account or collection that you have uploaded to assure anyone who buys from you. OpenSea’s team regularly reviews the contents to ensure users are safe.
How can I earn royalties on OpenSea?
Unfortunately, as an artist, you will get only 10% of the royalties once you have uploaded the NFT. This is considered to be a reasonable amount compared to other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) can be widely utilized on this website and many others to accommodate more cryptocurrency users. Below are the other cryptocurrency you can purchase on the OpenSea marketplace:
These are the cryptocurrencies that you can make use of to access OpenSea.
Which are the accepted payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges on its website. You can buy and sell cryptocurrency on secure platforms that accept fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop/mobile app?
As mentioned before there’s an official mobile app by OpenSea available for both iOS and Android. Download it at their respective app store and then you can begin exploring the collection right now!
A desktop application for OpenSea which can be downloaded from WebCatalog. On the desktop app, you can manage multiple accounts and receive notifications on updates regarding your account from the desktop.