Facebook Twitter Instagram
    BeanstalkBeanstalk
    • Home
    • Our Articles
      1. Gaming
      2. Roblox
      3. Pokemon
      4. Codes
      5. Games Like
      6. PS5
      7. Retro
      8. Reviews
      9. Metaverse
      10. Play to Earn
      11. Free to Play
      12. Wallpaper
      13. Hardware
      14. View All

      Games Like Elden Ring: 17 Similar Action RPG Alternatives

      March 30, 2023

      Games Like It Takes Two: 2 Player Co-Op Action Game Alternatives

      March 30, 2023

      The Ultimate Level Guide For Roblox Apeirophobia

      March 30, 2023

      Games Like Valheim: Top 15 Sandbox Survival Game Alternatives

      March 30, 2023

      Roblox Car Dealership Tycoon: How To Get The Criminal Van

      March 30, 2023

      Roblox Military Tycoon: How to Get All 10 Part Locations

      March 30, 2023

      Ability Wars: How to get Pulse Ability & Charged Badge

      March 30, 2023

      Roblox Anime Adventures Tier List: Our Top Picks

      March 30, 2023

      10 Best Wolf Pokemon: Our Top Picks Ranked

      March 27, 2023

      10 Best Fox Pokemon: Our Top Picks Ranked

      March 27, 2023

      20 Best Psychic Type Pokemon: Our Top Picks Ranked

      March 22, 2023

      Games Like the Pokemon Series: 11 Similar Monster RPG Game Alternatives

      March 22, 2023

      Fart Race Codes: Free Pets, Toilets & More!

      March 28, 2023

      Roblox Xeno Online 3 Codes: Get Free Spins & More!

      March 28, 2023

      Roblox Sonic Speed Simulator Codes: Get Free Rewards, Boosts & More

      March 24, 2023

      Roblox Driving Empire Codes: Get Free Cash & More

      March 21, 2023

      Games Like Elden Ring: 17 Similar Action RPG Alternatives

      March 30, 2023

      Games Like It Takes Two: 2 Player Co-Op Action Game Alternatives

      March 30, 2023

      Games Like Valheim: Top 15 Sandbox Survival Game Alternatives

      March 30, 2023

      Games Like Dragon Age: Top 15 Fantasy RPG Alternatives

      March 30, 2023

      Best PS5 PlayStation 5 Online Multiplayer Games: Our Top Picks Ranked

      March 30, 2023

      Best PS5 PlayStation 5 Platformer Games: Our Top Picks Ranked

      March 27, 2023

      Best PS5 PlayStation 5 Indie Games: Our Top Picks Ranked

      March 27, 2023

      Best Free PS5 PlayStation 5 Games: Our Top Picks Ranked

      March 13, 2023

      Best Original Xbox Games: Our Top Picks Ranked

      March 29, 2023

      Best PS1 PlayStation Emulators: Our Top Picks Ranked

      March 25, 2023

      Best Original Xbox Emulators: Our Top Picks Ranked

      March 25, 2023

      Best GBA Game Boy Advance Emulators: Our Top Picks Ranked

      March 25, 2023

      How We Test VPNs: Our Comprehensive & Rigorous Approach

      March 28, 2023

      Best Gaming Monitor for PUBG: Our Top Picks & Buyer’s Guide

      March 25, 2023

      Best VPN for Fortnite: Top Picks & Advice

      March 24, 2023

      Best Gaming Monitor for Fortnite: Our Top Picks & Buyer’s Guide

      March 24, 2023

      What is Vulcan Verse? A Fantasy Open-World MMORPG

      September 14, 2022

      What is Nitro League? A World of Racing

      September 14, 2022

      What is Sinverse? Your Own Decentralized Virtual World

      September 14, 2022

      Whats is Netvrk? A Virtual Reality Blockchain Game

      September 14, 2022

      How to Create an Axie Infinity Account? (Step By Step) For Beginners

      October 5, 2022

      What is Nyan Heroes? F2P Play-And-Earn Battle Royale Built on Solana

      September 14, 2022

      What is Farmers World? The Play to Earn Farming Simulation Game

      September 14, 2022

      What is Monster Racing League? Multiplayer Strategic Racing Game

      September 14, 2022

      Best Units To Have In Roblox Anime Adventures Update 7

      March 30, 2023

      How To Play Roblox Unblocked At School (Step by Step) Complete Guide

      March 28, 2023

      Roblox Now.GG: How To Play Roblox Unblocked In Your Browser

      March 28, 2023

      How To Defeat Cops In Roblox Jailbreak: Criminal Guide

      March 27, 2023

      Stranger Things Wallpaper: 50+ HD Desktop Wallpaper to Download

      March 30, 2023

      Elden Ring Wallpaper: 50 Best HD Desktop Wallpapers to Download for Free

      March 30, 2023

      Cyberpunk: Edgerunners Wallpaper: 40 HD Cyberpunk Anime Wallpapers

      February 9, 2023

      Sonic Frontiers Wallpaper: 50+ HD Desktop Wallpaper to Download

      February 9, 2023

      Are Curved Monitors Better for Gaming? All The Pros & Cons

      March 30, 2023

      How to Choose a Gaming Headset: What to Look Out For

      March 30, 2023

      Wired vs Wireless Gaming Headsets: Which is Better? Pros & Cons

      March 27, 2023

      What is an RGB Keyboard? Guide to RGB Lighting in Gaming Keyboards

      March 27, 2023

      Are Curved Monitors Better for Gaming? All The Pros & Cons

      March 30, 2023

      How to Choose a Gaming Headset: What to Look Out For

      March 30, 2023

      Stranger Things Wallpaper: 50+ HD Desktop Wallpaper to Download

      March 30, 2023

      Roblox Car Dealership Tycoon: How To Get The Criminal Van

      March 30, 2023
    • About
    • Contact
    • Advertising
    Facebook Twitter
    BeanstalkBeanstalk
    NFT

    How to Buy an NFT on Opensea: Everything You Need to Know

    This NFT Marketplace is the biggest for a reason ranging from great features to a vast collection of NFTs. Let’s take a look at why OpenSea is such a powerhouse and how you can use it to buy an NFT.
    Nick SayBy Nick SayAugust 15, 2022No Comments
    Facebook Twitter Reddit Email Telegram WhatsApp
    How to Use Opensea
    How to Use Opensea
    Beanstalk is reader-supported. If you purchase something via one of our links we may earn a small commission. This does not affect our reviews or placement of products on the site.

    Despite all the skepticism around them when the craze started back in 2021, Non-Fungible Tokens (NFTs) have continued to be a popular digital asset among artists, collectors, and investors.

    Having generated more than $17 billion last year, NFTs have also become more than mere collectibles as developers find new use cases in areas such as music, sports, real estate, the Metaverse, sports, eSports, and many more.

    With NFTs proving to be such a useful and popular technology, it is not a surprise that NFT ownership has doubled over the past year. Not only has this resulted in the creation of a whole new open digital economy but also in a whole new world of possibilities for people around the world to connect.

    The Opensea website
    The Opensea website

    Names like Bored Ape Yacht Club, Axie Infinity, Pak, Beeple, Rarible, and Foundation have become synonymous with the NFT space over the past year. However, no brand has done more to boost the growth of the ecosystem than OpenSea.

    This NFT Marketplace is the biggest for a reason ranging from great features to a vast collection of NFTs. Let’s take a look at why OpenSea is such a powerhouse and how you can use it to buy an NFT.

    Visit Opensea


    Table of Contents

    • What is OpenSea?
    • Buying an NFT On OpenSea: Step By Step
      • Step 1: Set Up Your Wallet
      • Step 2: Connect Your Wallet to OpenSea
      • Step 3: Find an NFT & Buy Now or Make Offer
    • Why Use OpenSea to Buy NFTs?
      • Easy to Use for Beginners
    • Should You Buy an NFT?

    What is OpenSea?

    OpenSea is the largest NFT marketplace both in terms of user base, trading volume, and NFTs offered. Founded back in 2017, the marketplace has seen a trading volume of over $20 billion from selling more than 80 million NFTs across 2 million collections.

    A lot of success is the result of the marketplace’s popularity with over 1 million active user wallets, something their close competitors can only dream of at this time.

    OpenSea was founded by Alex Atallah and Devid Finzer after they became fascinated with the movement that CryptoKitties started. As early adopters of NFTs and crypto, these 2 entrepreneurs came up with the mission to build “the most accessible marketplace for buyers, sellers, and creators.”

    An NFT Collection page
    An NFT Collection page

    Today, it is possible to say they have fulfilled this mission continuously, forcing other marketplaces to try to keep up and in turn, boosting the whole NFT ecosystem.

    Over the past years, the success of OpenSea has been seen by billions of people, with media and investors keeping close tabs on it.

    Andreessen Horowitz, Coinbase, Blockchain Capital, and YCombinator are only some of the investments that have chosen to back the company financially and strategically.

    Celebrities like Mark Cuban, 3Lau, Ben Silberman, Alexis Ohanian, Ashton Kutcher, and more have also publicly advocated for the company, increasing its exposure.


    Buying an NFT On OpenSea: Step By Step

    Now that you have decided to buy an NFT on OpenSea, it is time to look at the steps you will have to follow to do so.

    Buying an NFT in OpenSea is a pretty simple process for anyone familiar with blockchain or crypto. However, if you are new to the space, there are some terms and tools that will be unfamiliar. Worry not, we will explain.

    Step 1: Set Up Your Wallet

    OpenSea will require you to have an account with them in order to interact with the marketplace.

    However, unlike traditional marketplaces, this account won’t be linked to your email address, username, or password. Instead, you will be making use of a crypto wallet to use the marketplace.

    The wallet is a tool that you use to store your cryptocurrency and digital assets, allowing you to interact with decentralized and blockchain-based platforms.

    A crypto wallet can allow you to send, receive, sell, buy, trade, stake, or perform other operations with your assets, as well as authenticate yourself. The limits of these features will depend on the wallet and platform you are using.

    For the purpose of this guide, we will be only taking a look at some basic features of crypto wallets.

    While we will be looking at how to buy an NFT on OpenSea using Metamask, these instructions will be translatable to other supported wallets like Phantom, Coinbase Wallet, Glow, and more.

    Metamask is the most popular crypto wallet when it comes to NFTs as it is compatible with most Ethereum-based decentralized applications (dApps). In addition to being extremely secure and highly compatible, it also offers both a mobile and web version.

    You can download MetaMask on its official website. We recommend that you install it in your browser as this will make the process of connecting with OpenSea quick and easy. Just head to the link, install the wallet and get ready to set it up.

    Metamask website
    Metamask website

    Important Note: Make sure you are on the correct Metamask website as they are lots of scams around. Never click a link from email or messages on social media platforms. The correct URL is https://metamask.io

    To do this, just choose the “Create a wallet option” and create a strong password to ensure the safety of your assets.

    You will then be given a secret recovery phrase that you should take note of and make sure to keep safe as it is the only way to recover access to your wallet if needed. Don’t underestimate the importance of this recovery phrase.

    Now, you will need to confirm the recovery phrase by clicking on the words in the right order. Once you do this, your wallet will be set up and ready to operate.

    Step 2: Connect Your Wallet to OpenSea

    Now that you have a wallet, you will need to connect your wallet to OpenSea. This is as easy as going to OpenSea’s Login page and clicking the “Metamask” button. A “Connect With Metamask” prompt will pop up once you do so. Click “Next” after making sure the right wallet is ticked.

    Connect Your Wallet
    Connect Your Wallet

    Your MetaMask is now linked to OpenSea. Click on “Accept and sign” to finish the process by clicking on “sign” in the window that will pop up. This is basically the same as clicking on “Sign up” on any other website and implies the acceptance of the terms of service.

    You now have an OpenSea account which will use your wallet as the key. Just add funds to your MetaMask wallet and you will be ready to buy NFTs using OpenSea!

    Step 3: Find an NFT & Buy Now or Make Offer

    You are now set to buy an NFT using OpenSea. The process will be pretty straightforward from here on. You will need to find the NFT you are interested in buying using the “Explore” or search options. Once you know what NFT you want to add to your collection, you will just need to use the “Buy now” option.

    When using “Buy Now”, you will be required to have the fund in your wallet as the transaction will take place immediately. This is no different than making a purchase with a credit or debit card:

    You pay and get the asset. The only difference is that in this case, the asset will be sent to your wallet. This process can take some minutes depending on the network status.

    A single NFT details page
    A single NFT details page

    You can also use the “Make Offer” option, which will notify the owner of the asset of your proposal. If the owner was to accept, the transaction will take place just as with the “Buy Now” option.

    Once a transaction takes place and the NFT is transferred to your wallet, it is yours to keep. You can choose to sell it, trade it, or just keep it in your collection.

    You are now a member of the NFT community and can enjoy all the benefits it entails!


    Why Use OpenSea to Buy NFTs?

    NFT collectors and creators using OpenSea have access to a vast collection across categories like Art, Collectibles, Domain Names, Music, Photography, Sports, Trading Cards, Utility, Virtual Worlds, and more.

    However, the marketplace is more notable for its multi-chain support, which allows Ethereum, Solana, Polygon, and Klaytn NFTs to be traded using the platform. ETH, DAI, USDC, and over 150 tokens are also supported.

    While this might not sound like much, it brings a whole new lot of possibilities for everyone to use.

    Surprisingly, OpenSea has been able to remain easy to use despite its exponential growth over the years, making it one of the best platforms for beginners.

    Not only does it offer a super clean user interface but also access to a lot of resources and an extensive knowledge base.

    In addition to this, its popularity means that a strong and big community has emerged around it, creating an extra layer of support for anyone looking for information on it.

    Easy to Use for Beginners

    OpenSea is also known for how easy it is to use, which is a huge plus for any beginner.

    With a variety of resources and a vast knowledge base, you are likely to find whatever information you are looking for. If you are still unable to do so, the platform’s customer support team will provide top-notch service.

    With the Blockchain ecosystem still in its infancy, it is not unusual to hear about hacks and security flaws in established projects. Fortunately for its users,

    OpenSea is widely known as one of the most secure NFT marketplaces out there.

    Unlike other platforms, OpenSea has taken a holistic approach toward security which goes beyond protecting its server and services but also establishing communities like the NFT Security Group.


    Should You Buy an NFT?

    Now that you know why OpenSea might be the right choice for you to buy an NFT, it is worth asking if you should buy one in the first place. Sure, NFTs are more than just a lot of fun as they can also open the door to closed communities, services, and much more.

    However, it is important to remember that NFTs will in most cases be an investment of sorts. If you are thinking about buying an NFT as a means to get rich quickly, you should reconsider.

    Investing in NFTs is an idea that has been misunderstood by people for quite a while. Let’s make it clear: There is no such thing as investing in NFTs. NFTs are not an asset class but a means to demonstrate ownership over an underlying asset, which can be of different classes.

    While this might seem meaningless, understanding it can change how you approach NFTS and help you make better investments in the future.

    Why NFTs & The Metaverse Are The Future of Gaming
    Read Also: Why NFTs & The Metaverse Are The Future of Gaming

    Investing using NFTs can be harder than other assets like gold, precious metals, and even forex. With human perception taking a bigger role, those looking to make money out of NFTs need to be able to determine the perceived value of an asset in the short and long term.

    This is especially true when it comes to digital art, the most popular niche in the NFT market at the time.

    NFTs can be highly volatile, even more so than cryptocurrencies. This is not only due to them being speculative in nature more often than not but also due to how fast the ecosystem is evolving. With new projects being born by the hour, a phenomenon like FOMO can easily affect a project’s behavior.

    As such, the best rule to follow before buying NFTs as a form of investment is the same as with any other asset: Don’t invest what you can’t afford to lose. Now, if you are interested in buying NFTs due to their utility or any other trait beyond value, then go ahead!

    Views: 53

    Share. Facebook Twitter Pinterest Email Reddit Telegram WhatsApp
    Nick Say

      Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.

      Related Posts

      87

      LooksRare NFT Marketplace Review: Complete Guide to How it Works

      March 22, 2023
      83

      GameStop NFT Marketplace Review: Everything You Need to Know

      March 22, 2023

      How to Spot a Blue Chip NFT Project Early: All You Need to Know

      October 26, 2022

      What is NFT Trading? Can You Make Money? A Simple Guide for Beginners

      October 26, 2022
      Add A Comment

      Leave A Reply Cancel Reply

      Latest
      Hardware

      Are Curved Monitors Better for Gaming? All The Pros & Cons

      March 30, 2023By Saad M

      Nowadays, gaming setups have been the subject of intense scrutiny and optimization. Whether it’s the…

      How to Choose a Gaming Headset: What to Look Out For

      March 30, 2023

      Stranger Things Wallpaper: 50+ HD Desktop Wallpaper to Download

      March 30, 2023

      Roblox Car Dealership Tycoon: How To Get The Criminal Van

      March 30, 2023
      • Facebook
      • Twitter
      About Beanstalk

      Beanstalk is an online publication dedicated to Gaming & Technology. Our goal is to bring the latest news and updates from this fast-moving industry.


      Beanstalk
      Beanstalk is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com
      Beanstalk.io™ Copyright © 2019 - 2023 Kooc Media Ltd. All rights reserved. Registered Company No.05695741 // Gaming, Technology, Metaverse, Web3.
      • Home
      • About
      • Contact
      • Advertising
      • Privacy Policy
      • Terms & Conditions

      Type above and press Enter to search. Press Esc to cancel.