OpenSea was established in the year of 2017. and over the years it has become not only the most popular NFT market place among the people. but also the busiest market place . If you want to buy a non-fungible token then openSea is the best place for you.
There are Various Kinds of NFT which are offered by OpenSea Market Place.
Some of them are Given Below –
5. Trading Cards
If you are a creator or a buyer OpenSea is the ideal place for you. Because it doesn’t believe in a specialized segment of the market and everyone is free here to buy or sell and Create all kinds of NFTs they want.
Steps to Open an OpenSea Account
If you want to trade in nft, then OpenSea is the best place for you. So for trading in NFTs, you have to open an account on OpenSea market place first. And given below are some steps by which you can easily open an account in OpenSea
- Go to the OpenSea market place and then search for the menu. Then enter the menu section.
- Now for connecting to the OpenSea, choose the desired wallet you want to link with OpenSea. This will ask you to approve it by digitally signing, indicating that you want to link your wallet to the OpenSea marketplace.
- After linking your wallet to the open sea you can easily update your profile from the settings and update your profile pic your user name your contact details and bio and email address. You can easily sign in to OpenSea using your linked wallet.
Steps to Set up an OpenSea Account
Here is something you need to know before opening an OpenSea account: you have to trade some basic items from the marketplace.
- Ethereum Wallet
A digital wallet is a basic requirement for storing your cryptocurrency and NFT’s and when it comes to a digital wallet the Ethereum wallet is best in the business. It’s very much important for storage of crypto and NFT’s in the OpenSea account.
Dealing in cryptocurrency is so much easier on OpenSea. So after choosing your desired wallet you should add some cryptocurrency to the wallet so that you can start your transaction. Also OpenSea accepts a wide range of cryptocurrency but the most popular ones are ETH/WETH. So when the process of setting up an account is over you can now enter your debit card or bank account details for buying a crypto from the desired exchange you like and you can easily buy any crypto you want. It will take a little bit longer to buy a crypto from the bank account directly so try to use debit cards as it will be available immediately.
OpenSea Initialize Account Fee
If you are new to OpenSea you might have a question that how much does it cost for the opensea initialize account fee. The answer is zero. Yes, OpenSea charges nothing. So, how does the company make profit after every successful transaction? The company actually receives a commission of 2.5 % on every successful transaction. Ethereum network is must for every transaction and for using this network customers have to pay an additional gas fee. Once a transaction has been completed, sellers receive ETH in their wallets, and payments are made once a month to the address they have provided.
Steps to sell a NFT on OpenSea
Selling is not a difficult task on OpenSea as it has a very quality efficient user interface which makes selling Easy even for the beginners.
Select account option in the menu section. After clicking on the account option choose the desired NFT you want to sell by going into your profile. Then click on the sell button after selecting the note you want to sell. This provides you the ability to schedule your listing and set the price for your NFT.
Opensea provide you four type of listing option for selling your NFT
- Fixed Price
If you choose fixed price option then your NFT will be available for purchase at the “buy now price” This is a simple and effective listing option provided by OpenSea if you have a set price for your NFT.
- Dutch Auction
Benefits of using this option is that you can easily set a starting price and ending price and even the duration of the auction by the Dutch auction listing option.
You set the price of the nft as a base price and then bidding starts for your NFT and you will get the maximum price for your NFT.This listing option is just like a simple english auction. You also have the ability to set a reverse price.
If you want to sell more than one NFT to a particular buyer then this is the best listing option for you. This option helps you save the gas fee.
How to buy NFT’s on OpenSea ?
You can easily buy NFTs on OpenSea. It is just as easy as opening your OpenSea account. You can buy any NFT of your interest from the explore tab or from the search option of the browser. If you find the NFT you are looking for, select that particular NFT and then click on the buy now option and then make an offer to the seller. After that you need to register yourself for the transaction and wait for the confirmation from the seller.
- Is it possible to mint NFT on opensea ?
- Yes we can easily create the NFT on OpenSea this is another feature of OpenSea along with buying and selling .
- Is there any opensea initialize account fee ?
- No OpenSea charges nothing for opensea initialize account fee.
OpenSea is a very popular site for trading in NFTs and it’s also very reliable and cheap. We hope that this article has provided you with enough information about OpenSea and its features like Buying or selling NFT and creating your account on OpenSea and your queries related to OpenSea initialize account fee.
ALSO READ :- NFT UTILITY – ALL YOU NEED TO KNOW