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OpenSea Overview: Everything You Need to Know

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If you’re reading this, it’s probably because you’re curious about what’s driving the next wave of commerce.

Digital assets are a new asset class—and they’ve been around for a while. For more than half a decade, digital assets have let people play games, express themselves on social media, and find new ways to make money.

We’re here to show you that opensea is the best place to buy and sell digital assets on the internet. And we’ll give you good reasons why:

What is OpenSea?

 

OpenSea is a marketplace for crypto collectibles. It’s the most popular and largest marketplace of its kind, which means more people are buying and selling crypto collectibles on OpenSea than anywhere else. Think of it like eBay — but for crypto collectibles.

You can use OpenSea to buy, sell, or trade cryptocurrency items in exchange for money or other cryptocurrency items (like Ethereum). If you’re new to crypto collectibles, start by purchasing a few items here. But if you’ve already got plenty of crypto collectibles and want to earn some money off of them, you’ll want to sell your own items through OpenSea as well.

 

Advantages of investing with OpenSea

 

As a secure and decentralized marketplace, OpenSea is a great option for anyone looking to invest or trade. Let’s take a look at some of the biggest advantages OpenSea has to offer.

  • Free listing: It’s free to list an asset on OpenSea, which means that it’s easy for you to get started selling your assets. This also makes it easy for buyers to browse OpenSea’s inventory.
  • You’re in control: When you sell your assets on OpenSea, you’re in control of the whole process. This gives you more flexibility than other marketplaces where sales need to be approved by moderators first.
  • No transaction fees: There are no transaction fees when using OpenSea—another advantage over other crypto-marketplaces!
  • Don’t limit yourself: There’s no limit on the number of assets you can list on OpenSea, so this is a great place if you want one central location where all your digital assets can live together and be sold as needed.

Creating and owning an asset on OpenSea

 

You can create your own assets on OpenSea. You can also own assets there. Creating and owning assets on OpenSea is free, but the first step to creating or owning an asset is creating a wallet.

To create a wallet, click the “Get Started” button at the top of the page and select “Create a Wallet”.

Once you’ve created your wallet, you’ll need to sign in using your unique passphrase, which will be visible at this point. Record this passphrase somewhere safe as you will use it each time you log in and it’s required for account recovery if lost.

The next step is connecting your wallet by selecting MetaMask from the drop-down menu and clicking Connect when prompted in MetaMask.

Finally, you’ll need to fund your OpenSea account with some Ether (ETH) from within MetaMask so that transaction fees can be paid when buying/selling items on OpenSea.

When funding an account, please be advised that sending ETH directly from exchanges like Coinbase or Kraken will likely result in a loss of funds due to how those services handle ERC20 tokens like ETH; only send ETH that’s been withdrawn to a local wallet (like MetaMask) first!

How do you get started with OpenSea?

 

If you’re new to blockchain and crypto, there are a couple of things you’ll need to do before getting started on OpenSea:

  • register for an account
  • get some cryptocurrency
  • connect your wallet

Let’s cover each of these steps in turn.

 

How to register an account on OpenSea

 

  • Go to the OpenSea website

OpenSea’s home page is where you can see all the available assets that are available on that blockchain. This includes collectibles, utility tokens, and other blockchain-based assets.

  • Click on the register button near the top right of the homepage.
  • Fill out the textboxes with your information.
  • Check all checkboxes in order to agree to our terms and services and privacy policy, including agreeing to allow us to sell your data to third parties without notifying you or getting your consent
  • Next, you’ll select your wallet provider and connect your account.

This is the step where you can create a new wallet or sign in to an existing one. Clicking ‘Continue’ will automatically lead you to the next step. You may be asked authentication questions to verify that it’s actually you. Once verified, you will be redirected back to OpenSea and your account should now be created!

 

Sign the transaction using your hardware wallet or MetaMask.

 

If you’re registering a hardware wallet account, your device will show instructions on what to do.

If you’re registering a MetaMask account, the MetaMask extension in your browser will show instructions on what to do.

 

Congratulations!

 

You are now registered on OpenSea, the world’s largest marketplace for users to buy and sell crypto collectibles. This means you can now start buying, selling, bidding and trading non-fungible tokens (NFTs) from games such as Axie Infinity, CryptoKitties and Decentraland.

In addition to your user name and password, everyone on OpenSea has a unique Ethereum wallet address. Your wallet address is the most important way to identify yourself in the blockchain space.

You’ve successfully registered an account on OpenSea. You can now buy, sell, and trade your crypto collectibles. OpenSea allows you to create a shop where you can list your collectibles for sale.

OpenSea also has a wallet that holds Ethereum or any ERC-721 tokens you own. To check your wallet balance, go to the OpenSea [home page](https://opensea.io), log in, and click the “Account” button on the top right of your screen. The next screen will show “Your Wallet Balance: 0 ETH” if your wallet is empty (you don’t have any ETH or crypto collectibles).

 

How to get some cryptocurrency to Opensea

 

Step 1: Go to opensea.io and click on “Login” in the upper-right corner.

Go to opensea.io and click on “Login” in the upper-right corner. This will take you to http://opensea.io/login, where you can log in using either your GitHub or MetaMask account.

 

Step 2: You’ll be asked to connect your wallet. If you already have one, click on “Connect Wallet”. Otherwise, click on “Get a Wallet”.

 

So now, you’ve found what you want to buy, and are ready to take it home.

You’ll be asked to connect your wallet. If you already have one, click on “Connect Wallet”. Otherwise, click on “Get a Wallet”.

If you had to click on “Get a Wallet”, follow the steps until set up is complete.

Step 3: You will then be redirected to an interface where you can choose your preferred wallet. We recommend Portis for new users! It is the easiest way to get started using cryptocurrency.

 

Once you’ve successfully signed up for an account, you’ll be greeted with a page that looks like this:

You will then be redirected to an interface where you can choose your preferred wallet. We recommend Portis for new users! It is the easiest way to get started using cryptocurrency. Once your wallet is set up, you can use it to buy crypto assets and send them to your wallet on Opensea by following these steps:

  • Copy the Ethereum address of your Opensea wallet. You can find it on your profile page under “Account.” Your address will look something like this: 0x788b75f60cf7Cf89c66B6E1c6e8D24F1136Abd25. Make sure that when you copy the address from Opensea, all of it gets copied (including the “0x” at the beginning).
  • Go back to your original wallet provider’s website and select “Send Transaction.” Then paste in the Ethereum address from Opensea as well as how much currency/cryptocurrency/cryptoassets/etc. (whatever we’re calling it here) you’d like to send into that address. Then complete the transaction!

After a few minutes, that currency should appear in your Opensea account balance.

Step 4: Once you have a wallet, go back to opensea.io and refresh the page. Click on “Connect Wallet” again, and choose your preferred option.

You may have noticed that your wallet address is now filled in—that’s because you’ve been automatically logged in through MetaMask. If you’re using a different web3 provider, go back to opensea.io, refresh the page and click on “Connect Wallet” again – this time choosing your preferred option.

Congratulations! You are now ready to buy cats with ERC-721 tokens and get the best deal on pets ever!

 

Step 5: Approve the connection of your wallet in the pop-up window on your screen, and you should then see yourself as logged in!

 

Now that your wallet is successfully connected, you can use it to purchase crypto on OpenSea! Please note that if you want to buy crypto, you will need to first go to a separate exchange (like Coinbase) and buy the crypto there. You can then send the crypto over to your wallet in order to make purchases on OpenSea.

 

 

Investing in assets on OpenSea

 

If that sounds complicated, don’t worry. We’re going to break it down for you in a way that will hopefully help you understand the process of investing in digital assets on OpenSea.

So, how do you invest in digital assets? First you must create an account on OpenSea. Once your account is created, all of the actions listed above can be performed by using the buttons displayed on different pages within the user interface. To find your way around OpenSea’s interface, let’s go over each of these actions one by one:

How to sell assets on OpenSea?

 

It is also very simple to sell your assets on Opensea. There are three different ways in which you can do this, and they all have their pros and cons:

  • Sell at a fixed price. If you don’t want to bother with the market-based system, you can always sell your assets for a fixed price. This option has both its advantages and disadvantages. On the one hand, it’s simple and quick; on the other hand, it may be difficult to determine what price point works best for your asset. However, once you get the hang of it, selling at a fixed price doesn’t take much time at all so it may be easier if you just want to quickly exchange something for money rather than wait for someone else to come along with an offer that suits your needs
  • Set a price based on supply and demand. If you choose this second method, then your asset will be sold according to how much demand there is for it versus how many similar items people already own (this is the supply). This is probably one of the best methods because it makes sure that everyone gets what they want fairly easily without having any extra hassle involved when trying to figure out who should get first dicks or not since whichever person offers more will usually win in these situations unless somebody else beats them by even more money before they fulfill their orders which means both parties still benefit from each transaction
  • Set a price based on token value. Finally!

You can buy and sell blockchain assets on Opensea.

Opensea is a crypto marketplace that allows you to buy, sell and create blockchain assets. You can easily acquire game items, NFTs and other digital assets here.

You’ll need an Ethereum-based wallet such as Metamask in order to create an account on Opensea.

Once you’ve done that, you can hit the “Create Listing” button on the top right of your screen to post your first listing!

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