The cryptocurrency market is on the rise and you’re probably thinking what you can do with your crypto currency. Marketplaces are popping up across the digital web designed to purchase and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth looking into.
If you’re interested in crypto you’ve probably heard about 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.
Get on board, and discover what you can do with OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review.
OpenSea as an NFT Marketplace Who Created Nft
The purpose for OpenSea was to 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.
In terms of registration, you don’t need to provide any personal information about yourself. All you have to connect your crypto wallet–and voila!–you have an account on OpenSea! It can be as simple as that, without much hassle as you step into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It is also based on the Polygon blockchain to ensure lower costs and faster trading.
There are two types of blockchains available, you can choose which one you want to publish your NFT as seller. This will ensure the security of your NFT as well as those who would like to purchase it. Every transaction will be conducted using this blockchain, which is why you need to think about where you should upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from just a domain name to official art from an artist you admire. Anyone can be a seller, but it takes a while for anyone to be an established seller.
There’s a huge selection of NFTs available of NFTs available at OpenSea and you could also be a part of this! You can create your own marketplace there, and also find NFTs you’d like to buy yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
A recent change in the cryptocurrency industry, the term “NFT” has been going around for so long on internet that a lot of millennials are familiar with it , but aren’t exactly sure what it means. Let’s take a look at what NFT is for anyone who is new in cryptocurrency.
One of the newest things you can buy includes an NFT. A NFT is a non-fungible token that is unique and can’t be changed. This can be an item of any rareness, such as mint-condition baseball trading cards or uncommon vinyl record.
There’s no limit to what an NFT can be since it’s a non-fungible thing that you sell online. More straightforwardly, you can simply consider an NFT to be a type of digital collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs on your own NFTs. You are calling the owner of the item or token that you have uploaded to the market place, but you’re selling it. Usually, this is recognized when you have filled in the proper information regarding the NFT and finally submit it for sale on.
On OpenSea, it’s a simple process to mint your NFTs. All you have to do is visit the store and creating a collection to start! Fill out the proper and correct information regarding your NFT and choose what kind of settings you want to use it with (e.g. blockchain or payments tokens). After you’ve completed the process then you’re able to upload it to the internet if it’s in the 100 MB limit.
You can watch and see how transactions progress from now on to determine whether OpenSea is the right marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs can you find here?
In this moment you’re probably thinking about the kind of NFTs can be found here and what you can sell should you decide to pursue that route. The kind of NFT it is unlimited as there’s a variety of ways to do it.
It is possible to sell digital items, trading cards, game assets domain names, also physical goods! Consider what you believe will yield the most profit by experimenting with OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager features is one of the things that differentiates OpenSea from other companies. There are zero gas fees for using this feature to mint and sell NFTs. This is essentially a way to ensure that you receive the maximum profits when you start selling because you won’t need to spend on extra fees.
Very few NFT marketplaces have this feature, and it can be a fantastic way to receive high profit from your collection.
Referral Program
This Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive advantages when you refer your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site you’ll earn 2.50% of the sale amount, which allows you to earn more money by this method.
Other NFT marketplaces don’t have the same feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile app, but it’s mostly to browse the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.
OpenSea’s mobile apps are available on both iOS and Android. Although you aren’t able to purchase or sell things, you can browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Numerous cryptocurrency exchange platforms are available for you to use to exchange your fiat money for cryptocurrency using these platforms. Who Created Nft
You can convert your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex and more!
All of them have the option of converting them into ETH that is the primary cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, wallets are nevertheless more compatible than other. Since it is built mainly around the ETH blockchain, all wallets that share that network will be suitable for the site.
Here is a list of several crypto wallets you can utilize in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Wallets that are compatible with crypto can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage as well as the capability to buy cryptocurrency using credit cards. Who Created Nft
To know more about it You can go through their FAQs for a rundown of how you can get started 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, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and pros here:
Pros
- Available as mobile apps for iOS and 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 royalty rates of 10% for artists (low royalty).
- You cannot buy or sell products on this mobile application.
- Only supports cryptocurrency as its method of payment.
- An Crypto account is needed to use this marketplace.
Pricing
OpenSea is open to everyone who owns any crypto coins in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll quickly regain that when you actively sell because there’s no additional cost for it.
Frequently Asked Questions Who Created Nft
What is OpenSea?
OpenSea is an NFT marketplace that aims to provide artists a platform to market their work online to receive cryptocurrency as a method of payment. It’s an excellent option for artists who want to use the platform to market NFTs because of its zero gas costs and low commission fee rate you must pay.
You can shop and browse an array of digital goods in this NFT marketplace which is why you should definitely take a look!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea is a reputable marketplace since its inception on the 1st of December in the year of 2018. Since its system is built on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.
Additionally as a seller you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned to your account or the collection that you have uploaded to assure anyone who buys from you. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties from OpenSea?
However, as an artist, you will receive only up to 10 percent of the royalties after you have uploaded the NFT. This is considered to be a reasonable amount compared against the other NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) can be frequently utilized on this website and other sites to provide more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to access OpenSea.
What are the payment methods for OpenSea?
OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through secure platforms that accept fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.
Does OpenSea have a desktop or mobile application?
As previously mentioned, there is definitely an official mobile app from OpenSea available for both iOS or Android. Download it at their respective app store, and then you can begin browsing through the collection right now!
A desktop application for OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts as well as receive notifications on updates regarding your account from the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
