The crypto currency market is in a boom right now and you’re probably wondering what you can do with your crypto currency. There are numerous marketplaces 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 interested in crypto you’ve probably heard about OpenSea previously for a valid reason. It’s now one of the biggest and leading marketplaces among users of cryptocurrency due to its security and quick transactions.
Get on board, and discover what you can do with OpenSea and also see the NFTs that you can see!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you will want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace Who Now Is Nft
The goal of OpenSea was to provide an online marketplace for artists to upload their commissions, without having to pay any additional fees. It has more functions that let you sell your art without too many difficulties.
For registration, you won’t have 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 many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most well-known cryptocurrency to use on the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain technology which is utilized for the majority of transactions. It also operates with the Polygon blockchain to ensure the lowest cost and speediest trading.
With these two types of blockchains available you can pick which one you would like to transfer your NFT to as an seller. This will ensure the security of your NFT as well as those who wish to buy it. All transactions are made by using the blockchain, which is why you need to think about where to upload it.
OpenSea: NFT Collection Galore
At OpenSea, it is like an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name, to a piece of art by an artist you admire. Anyone can be a seller however, it takes a while for anyone to be an established seller.
There’s a huge selection in the collection of NFTs available at OpenSea and you can also be a part of this! You can create your own marketplace there, and also find NFTs that you would like to purchase yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around so long on the internet that many millennials are familiar with it , but not exactly sure what it is. Let’s look at what an NFT is for those who are just beginning to get started in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible token that is very individual and cannot be substituted. It can be a piece of rarity like rare baseball trading cards in mint condition or unique vinyl album.
There’s no limit on what an NFT can be as it’s a non-fungible thing you’re selling on the internet. It is simpler to simply imagine the NFT to be a type of digital item paid via cryptocurrency only.
Minting NFTs
Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item you uploaded on the marketplace, and offering it for sale. Typically, this is official when you have filled in the proper information regarding the NFT and finally add it on the market.
On OpenSea it’s a straightforward procedure to create your own NFTs by visiting the store and creating a collection to start! Fill out the proper and accurate information about your NFT and select the type of settings you’d like to use for it (e.g., blockchain and money transfer tokens). After that you are able to upload it if it fits the 100 MB limit.
You can watch and see how transactions progress from now on to see if OpenSea is the best marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
In this moment you’re probably thinking about what kind of NFTs can be purchased here and what you can sell should you decide to pursue that route. The kind of NFT it can be isn’t limited since there’s a broad range of how you can do it.
You could be selling digital products, trading cards game assets domain names, some physical items! Explore what you believe can reap the best rewards when you try out OpenSea.
OpenSea: Collection Manager Feature
The collection Manager feature is what separates OpenSea from the others. There are zero gas fees 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 begin selling since you won’t have to spend on additional fees.
Not many NFT marketplaces provide this feature, so this can be a fantastic way to receive high profit from your collection.
Referral Program
A Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets there are rewards by referring a friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, which means you can earn more money from this act.
Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea is able to offer over other NFT marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There is an OpenSea mobile application, however it is mainly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you scroll through the list.
The mobile apps of OpenSea are available for the two platforms of iOS as well as Android. Even though you can’t buy or sell anything, you can still browse through the selections you’re interested in while on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are for you to use to exchange your fiat money for cryptocurrency through these platforms. Who Now Is Nft
You can exchange the fiat currency you have with a 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 standard cryptocurrency payment option in OpenSea.
Crypto Wallets
While OpenSea can be described as an NFT marketplace open to all forms of cryptocurrency, the wallets nonetheless more compatible than other. Since it is built using an ETH blockchain, any wallets that share that network will be suitable for this website.
Here’s a list of different crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and more!
*Note: Compatible crypto wallets can be found on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage and the ability to buy cryptocurrency using the credit card. Who Now Is Nft
To know more about it, you can check their FAQs to get the steps you can get started and also what other crypto wallets work with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps are available for iOS and Android.
- Smart contracts can be used to perform 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 royalties).
- You cannot buy or sell products via the mobile app.
- Only supports cryptocurrency as its form of payment.
- An Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is available to anyone who owns any crypto coins in their crypto wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. However, overall, you will quickly regain that when you actively sell because there is no additional fee for it.
Frequently Asked Questions Who Now Is Nft
What is OpenSea?
OpenSea can be described as an NFT marketplace that aims to give artists a chance to market their work online to receive cryptocurrency as a method of payment. It’s an ideal option for artists who want to use the platform to market NFTs due to its no gas fees and low commission fee rate which you are required to pay.
You can browse and purchase a vast collection of digital goods in this NFT marketplace, so you should take a look!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea has been a reliable marketplace since it was established at the end of 2018. Since the system it operates on is based on a blockchain that is secure, you can claim that your transactions are protected and secured.
In addition, as a seller, you can become verified once you’ve earned a reputation. A blue checkmark will appear on your account or collection you’ve uploaded to ensure the safety of anyone who buys from you. OpenSea’s team regularly reviews the content to ensure that users are safe.
How do I earn royalties from OpenSea?
As an artist, you will be paid only 10% of the royalties once you have uploaded the NFT. This is considered to be a reasonable amount compared to others NFT marketplaces.
What is the most popular cryptocurrency accessible in OpenSea?
Ethereum (ETH) has been frequently used on this site as well as other sites to provide many more crypto users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can make use of to access OpenSea.
What are the payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges through its website. It is easy to buy or trade cryptocurrency using secure platforms that accept fiat money. All you need just connect your debit or credit card to Paypal to complete the exchange.
Does OpenSea has a mobile or desktop application?
As we mentioned earlier there’s an official mobile application from OpenSea available for both iOS as well as Android. You can download it through their app store and begin exploring the collection right now!
The version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts and get 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/).
