How to buy NFTs on Opensea: a guide

OpenSea Marketplace was founded in 2017 and is currently one of the most popular platforms for buying, selling, and creating NFTs. Unlike many similar services, OpenSea doesn't focus on one specific niche, but rather offers a space where creators and collectors can buy, sell, and create all types of NFTs. Today, we'll discuss the steps required to complete each of these steps.

Follow us on Facebook,Telegram,Twitter orInstagramso you don't miss useful information!

How do I set up an Opensea account?

When creating an account, the first step is to create a wallet to store your cryptocurrency and NFTs. We wrote about which wallets are suitable for registering on OpenSea in ourmaterial. 

Once you've created your wallet, you can deposit some cryptocurrency into it. You can choose the currency based on your personal preference. OpenSea offers over 150 different payment tokens. However, the most popular one used for NFT sales on OpenSea is ETH/WETH. Wrapped Ether (WETH) is a token that represents ETH at a 1:1 ratio and complies with the standard.ERC 20.

Probably the most convenient and simple platform for selling cryptocurrency is Coinbase.com.

Once you've set up your account, you'll need to enter your card or bank account information into your Coinbase account for verification. Once verified, you can purchase ETH and other cryptocurrencies on Coinbase.

To buy Ethereum (ETH) on Coinbase, you need to:

• go to Coinbase.com;
• create an account;
• add a payment method;
• click “Buy / Sell”, select “Ethereum”;
• enter the amount you want to buy;
• Click "Preview Purchase" to verify the details and "Buy Now" to confirm the purchase.

Once you've purchased cryptocurrency, you can transfer it from Coinbase to your wallet. To do this:

•  open your wallet account and copy its address; 
• In Coinbase, select Portfolio - Ethereum - Send;
• paste the copied wallet address into the “To” field;
• check if the wallet address has been copied completely;
• Click "Continue".

Check your wallet funds. Delivery may take a few minutes.

Now that you have some cryptocurrency in your wallet, you can move on to setting up your OpenSea account.

Go to the Profile tab in the top right corner of the screen and select the wallet type you are connecting to OpenSea.

To confirm your intention to connect your wallet to the OpenSea trading platform, you will be asked to provide a digital signature.

Once you've connected your wallet to OpenSea, you can go to your profile and add the following information in the settings: username, a little information about yourself, and email address. That's it. You now have a profile and can buy, sell, and create NFTs.

How to buy NFT?

It's all simple here:

• choose NFT; 
• Click "Buy Now" or "Make Offer" if you want to place a bid;
• confirm the transaction.

If you select "Buy Now," the purchase is completed immediately after entering your digital signature. The asset is transferred to your wallet. If you select "Make an Offer," you'll have to wait for the seller to accept your offer. If you can't agree on a price, you'll have to reject the "offer." You'll also have to pay for gas.

To check if the transaction was successful, go to the OpenSea Menu > Profile > "Collected" tab. All NFTs purchased using the wallet address will be listed here.

How to sell NFTs?

Go to your profile and select which NFTs you want to sell. Once selected, click "Sell." In the tab that opens, you can set the price and schedule the listing.

There are four listing options available:

• Fixed price– buy now. This is the simplest listing strategy. It is suitable in cases where you havethe price has been seton NFT.
• Dutch auction– starts at a higher price, ends at a lower one. Seller Sets the starting price, ending price, and auction duration. The price decreases over time until it reaches the set minimum.
• Auction –a variant of a standard auction. NFTs are listed at a minimum price. Buyers place bids. The seller can accept any offer they like. When accepting bids, make sure the offer is in your chosen currency. It's not uncommon for people to bid $1 instead of ETH.
• Bundle– multiple NFTs in a single package. A convenient option for purchasing in a single transaction, saving the buyer on gas fees.

How to create an NFT on OpenSea?

To create an NFT, you need to follow the following sequence of steps:

• log in to your profile;
• choose "Create" or "Collection", if you need to create a collection;
• give the NFT/collection a name;
• load media; 
• configure OpenSea URL;
• add description;
• assign a category;
• Introduce a royalty percentage of up to 10 percent. Creators can earn income every time their NFT is sold on OpenSea;
• choose a blockchain for minting – Ethereum or Polygon;
• Click Create.

New NFTs can be added to an existing collection later. However, the metadata of an existing token cannot be changed. Metadata is everything listed above. Therefore, it's important to carefully review the information entered before minting.

 For NFT minting, please select at least a medium gas (transaction) rate or high to ensure successful minting. 

And for a business to operate successfully, high-qualitywebsitewith the appropriatedomainand reliablehostingRegistration will guarantee security for you and your clients.trademark (TM)and acquisitionSSL certificateThese and other goods and services can be ordered onNIC.UA.

Valid until 06.01.2023New Year's prank: by ordering or continuing servicesNIC.UA, you can wincash gifts.