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 all over the internet, designed to sell and buy NFTs via cryptocurrency! OpenSea can be one, and it’s worth a look.
If you’re familiar with cryptocurrency you’ve probably heard of OpenSea previously for a valid reason. It has become one of the biggest and most popular marketplaces among users of cryptocurrency due to its security and quick transactions.
Now hop aboard, and let’s explore what you can do with OpenSea as well as examining the NFTs available to view!
Before you continue, 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.
OpenSea as an NFT Marketplace Which Nft Crypto To Buy
The purpose for OpenSea was to provide an online marketplace for artists to upload their commissions, without having to pay any additional costs. It also has additional functions that let you sell your work without having to deal with many difficulties.
When it comes to registration, you don’t need to provide all of your personal details. All you need to connect your crypto wallet and voila! You have an account with OpenSea! It’s as easy as that without going through many hassles when you enter into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for most processes. It also functions with the Polygon blockchain, which allows for low-cost and quicker trading.
There are two types of blockchains available it is possible to choose which one you want to upload your NFT on as an seller. This ensures the safety of your NFT, along with the people who want to buy it. Every transaction will be conducted along with this blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall where you can exchange your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name to an official artwork from an artist that you admire. Anyone can sell however, it takes some time for anyone to become a reputable one.
There is a wide variety in the collection on OpenSea and you could join in with this! You can start your own market on this site, as well as find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent development for the crypto market the term “NFT” has been going around for so long on the internet that many millennials are familiar with it , but aren’t exactly sure what it means. Let’s take a look at what NFT is for any beginners in cryptocurrency.
One of the newest things you can purchase your cryptocurrency includes an NFT. An NFT is a non-fungible currency that is very individual and cannot be substituted. It could be an item of rareness like authentic baseball cards or uncommon vinyl record.
There is no limit to what an NFT can be as it’s a non-fungible object you’re selling online. In simpler terms, you could just think of an NFT being a virtual collectible that is paid for using cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. It is a way of claiming the owner of the item or token you uploaded on the marketplace, and you’re putting it up for sale. Usually, this is recognized after you fill in the proper information regarding the NFT and then submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by visiting the store and making a collection to begin! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use it with (e.g. blockchain and payment tokens). After you’ve completed the process, you can finally upload it, if it’s within the limit of 100MB.
It is possible to wait and see the way transactions are handled 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 the kind of NFTs can you shop for here, and what you could sell should you decide to go that route. The kind of NFT it is unlimited as there’s a variety of options for how to go about it.
You could be selling digital products, trading cards, game assets, domain names, and some physical items! Consider what you believe will reap the best rewards by trying OpenSea.
OpenSea: Collection Manager Feature
This Collection Manager function is the one that differentiates OpenSea from the other options. There’s no cost for gas when you use this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you won’t need to spend on additional fees.
Not many NFT marketplaces have this feature, so this is a great way to make a huge profit from your NFT collection.
Referral Program
The Referral Program is another distinctive feature of OpenSea to be admired. Similar to traditional online markets there are advantages when you refer someone else to OpenSea! If you invite a friend to join OpenSea and buy an NFT from there you’ll earn 2.50 percent of the purchase amount, which means you can earn more money by this method.
Other NFT marketplaces don’t offer the same feature and that’s another benefit OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly to browse through the marketplace. It isn’t able to purchase or sell anything while you browse through the listings.
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 explore the products you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal, and you can exchange your fiat money for cryptocurrency on these platforms. Which Nft Crypto To Buy
You can swap your fiat money via credit card or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and many more!
Each of them has the option of exchange for ETH, which is the primary cryptocurrency used in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all types of cryptocurrency, the wallets nevertheless more compatible than other. Since it is built mainly around an ETH blockchain, any wallets with a connection to this network are appropriate for this site.
Here’s a list several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each wallet has its own restrictions including simple registration, only mobile usage and the ability to purchase cryptocurrency using a credit card. Which Nft Crypto To Buy
To know more about it to learn more, check out their FAQs for a rundown of how you can start and also what other crypto wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and pros here:
Pros
- 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 world and NFTs.
Cons
- Allows royalties of only up to 10% for artists (low royalties).
- Cannot buy or sell via the mobile app.
- Only supports cryptocurrency as its type of payment.
- A Crypto wallet is required to access this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee that all buyers on the marketplace. But overall, you can quickly recover this amount if you sell regularly since there is no additional fee for it.
Frequently Asked Questions Which Nft Crypto To Buy
What is OpenSea?
OpenSea can be described as an NFT marketplace that seeks to give artists a chance to sell their works online, and to accept cryptocurrency as their form of payment. It’s a great platform for artists who use it to sell NFTs due to its low gas fees and low commission fees which you are required to pay.
You can browse and shop for an array of digital goods in this NFT marketplace, so you should go through it!
Is OpenSea legitimate and is it safe?
Short answer: Yes! OpenSea is a reputable marketplace since it was established on the 1st of December in 2018. Since the system it operates on is based on a blockchain, it is safe to claim that your transactions are secure and safe.
In addition, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark will appear on your account or collection that you have uploaded to assure every customer. 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 receive only up to 10 percent of the royalties when you upload the NFT. This is thought to be a reasonable amount compared against other NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) can be commonly 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:
- WETH
- USDC
- DAI.
These are the core cryptocurrencies you can utilize to access OpenSea.
Which are the accepted payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges through its website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you have just connect your debit or credit card to Paypal for the transaction.
Does OpenSea have a desktop or mobile app?
As we mentioned earlier There is an official mobile app by OpenSea that is available for iOS and Android. Download it at their respective app store, and then you can begin exploring the collection right now!
The Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts and get notifications about updates to 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/).
