According to market share, Opensea has more NFT buyers than any other marketplace. It features a user-friendly UI and a diverse selection of NFTs from the Ethereum, Solana, Polygon, and Klaytn blockchains. Exactly how does one go about purchasing an NFT from Opensea market, and make money on OpenSea then?
Opensea’s NFT Purchase Instructions
In only four easy steps, you may purchase an NFT on Opensea.
1. Register with an account on the Opensea NFT exchange.
To access Opensea, launch your web browser. Be sure you’re on the genuine Opensea before proceeding. You will be ripped off if you visit any of the suspect websites.
After making sure you’ve arrived to the right marketplace, you’ll have to link your web3 wallet. Simply navigate to the top right of the Opensea homepage and click the wallet icon.
Wallets that are compatible with Opensea will appear in a menu. Choose your preferred method of payment. The next step is to link your financial institution. Make sure you’re linking the proper wallet before continuing.
You’ll be prompted to Connect your account after clicking the Next button. Remember to check that Opensea only displays: before you link your wallet.
Your permission is requested to provide this site access to the following information: your address, your account balance, your account activity, and the transactions it thinks you should authorise.
Do not continue if you are being asked to do anything else. You should instead leave the site and double-check the URL you entered.
Assuming that you’ve confirmed that everything is to your satisfaction, select the Connect button. The NFT market on Opensea is now accessible to you.
You may personalise your time on Opensea by creating a Profile. Follow these steps by tapping your avatar and selecting Profile from the menu. Then, select Preferences.
2. Find The NFT That You Want By Searching
To start looking for an NFT to purchase, head to the search field. The name of an item, collection, or account can all be used to locate a specific NFT.
Verifying the Opensea authenticity of an NFT collection is a vital step if you’re looking for a certain archive.
- A blue checkmark next to the collection or item name will indicate that it has been successfully added.
- To purchase an NFT, simply tap on the asset when you’ve located one you’re interested in.
- Choose a payment method and then click “Buy now” or “Make offer.”
- On Opensea, you can choose between a “Buy now” and “Make offer” button when you want to purchase an NFT.
- Get your hands on it now. You consent to purchasing the NFT at the stated price.
- When you click the “Buy Now” button, you’ll be directed to the shopping cart.
When making a purchase of NFT, you have the option of having it delivered to a different wallet. If you’re making the purchase with a software wallet but wish to store your NFT in a hardware wallet, this is a viable solution.
- If you’re giving an NFT as a present, you can specify the recipient’s wallet address instead.
- Click the “Complete Purchase” button if everything checks out. Your wallet will display a notification.
- Gas prices can be reviewed and changed at this time, and a detailed transaction history and final cost can be shown.
When you have reviewed the total and are satisfied, click the Confirm button. A transaction can take anywhere from 10 seconds to over 10 minutes to complete, depending on the speed you choose (Low, Medium, High) and the current transaction volume on the blockchain.
Selecting High as your gas speed is the safest bet if you want to make sure your transaction goes through. In most cases, medium will do the trick, albeit it will take a little longer.
Low is not a good option for buying NFTs on Opensea because the transaction might not go through and you might end up paying the gas fee nonetheless.
You can cancel the order at any time before it is processed by clicking the Reject button. If you click the Reject option, you won’t be charged anything.
Do a deal. You are welcome to make a lesser offer than the one displayed.
Just click the “Make offer” button if you’d like to make a lesser offer than the asking price. To place a bid on an Ethereum-based NFT, you will need wrapped ETH (wETH).
Enter the amount of wETH you wish to contribute, and then click Add WETH if you already have ETH in your wallet. To make an offer, you’ll need to use Uniswap to encapsulate your ETH.
Additionally, wETH can be bought using a debit card straight from your wallet.
Some disadvantages of placing a bid on Opensea include:
- The cost to encrypt your ETH is little.
- There is a little transaction fee associated with making your first wETH offer.
- Your offer may or may not be accepted.
- You risk being outbid by someone else.
- Any offer cancellations after submission will incur a transaction fee.
Of course, the chance to get an NFT for less than its quoted price is a huge benefit that more than makes up for the few drawbacks. Nonetheless, caution is still advised.
If your bid is accepted, the NFT plus the associated fee will be transferred to your wallet address immediately.
3. Web3 Wallet Users – Please Disconnect From Opensea
Disconnecting your web3 wallet after each use of Opensea (or any other platform that requires you to do so) is crucial for security reasons.
If you want to cut off all communication between your wallet and Opensea, you’ll have to do it manually. Keep in mind that the specifics of this process will shift based on the type of wallet you’re utilising. Nonetheless, the idea remains the same.
To disconnect from a site, open the MetaMask menu (the three dots), click Connected sites, and then click Disconnect.
It’s also smart to put your wallet away securely while it’s not in use.
The wallet can be secured by selecting the account icon and choosing Lock. The next time you try to link your wallet to a new service, you will be prompted to enter your password.
4. Metamask Wallet Setup for Opensea NFT Purchases
The only method to purchase an NFT from the Opensea marketplace is using a web3 wallet that supports NFT purchases. MetaMask is the most widely adopted Opensea software wallet. So, I’ll walk you through the process of creating a Metamask wallet.
Wallets that are compatible with Opensea are listed below for your convenience.
Use the Chrome desktop browser to go to Metamask.io/download.
Be sure you’re on the right Metamask.io domain at all times. If you end up on a different site by accident, you can rest assured that it was created with nefarious intent. Please don’t skip over this easy procedure.
Go to the Chrome Web Store and click “Install Metamask for Chrome.”
On desktop, you can only install Metamask using the Chrome browser.
Chrome users, fear not; the mobile app is now available for download on iOS and Android devices. Following these instructions to set up your Metamask wallet is identical to setting up the browser extension, with the exception that you will be installing the app.
To help make Metamask better, please select “No Thanks” or “I Agree.”
There is no correct response to this question. By clicking “I Agree,” you agree to provide Metamask with feedback that will be used to refine the quality of its products and services. They will monitor every every mouse click and page visit if you choose to help.
Click the “Start” button.
When you’re prepared, click the “Start” button.
Go to the “Wallet” tab and click “Create.”
For first-time users of Metamask, “Create a Wallet” will take you through the process of creating a wallet.
Select Import Wallet if you already have a Metamask wallet and know your Secret Recovery Phrase. The wallet will be activated once you enter your phrase and set a new password.
Making a Password
The Metamask wallet needs a password, which you can create. Together, your Secret Recovery Phrase and this password will grant you access to your digital possessions.
Passwords are only as secure as their weakest link, so take care to choose a combination of capital and lowercase letters, digits, and special characters.
In order to safeguard your Secret Recovery Phrase, please view the accompanying video.
If you’ve forgotten your wallet’s password and need to reset it, the secret recovery phrase is your only hope.
In a Bitcoin wallet, the Recovery Phrase is used to access the wallet’s contents. It is essential that you take the time to learn the appropriate way to preserve your Secret Recovery Phrase.
Your recovery phrase should never be saved online. Keep money in a bank safe deposit box or a personal safe, and split it up between the two.
Disclose and save your personal “Secret Recovery Phrase”
Don’t forget to record your Secret Recovery Phrase somewhere secure. It’s necessary for the next stage, too.
Verify your Protected Reset Password
Below the box, you’ll see your Recovery words. Confirm your Secret Recovery Phrase by clicking on the words below in the correct order.
You’ll need cryptocurrency in your crypto wallet before you can buy an NFT on Opensea. Ethereum (ETH/WETH), SOL, USDC, and DAI are just some of the cryptos that can be used with Opensea.
Since Ethereum’s primary token is ETH, that’s what I’ll be discussing. Instructions for adding funds to your Metamask wallet from an Ethereum purchase are provided below.
- To buy, just launch your Metamask wallet and hit the “Buy” button.
- To use Metamask, simply install the extension for Chrome, then click “Buy” to access your wallet.
- To make a purchase using Metamask, open your wallet and click “Buy.”
- To purchase ether (ETH), use Coinbase’s payment option.
When buying Ethereum (ETH) with your Metamask wallet, you can do it from a number of different cryptocurrency exchanges, including:
AMOUNTS PAID BY Coinbase
- Transak
- MoonPay
- Wyre
- Cash Deposits
The Coinbase Pay option is my top pick for purchasing Ethereum because Coinbase is one of the most well-known and reputable cryptocurrency exchanges.
Make a Coinbase account for yourself.
Log in to your existing Coinbase account and authorise access from your Metamask wallet. You will need to open a Coinbase account and link it to your bank account if you don’t already have one.
- After signing up, you’ll need to give Metmask permission to access your Coinbase balance.
- The asset you wish to acquire must be chosen (ETH)
- The next step is to settle on a particular asset to acquire
- Preview your purchase by entering the desired amount of ETH
- Put in the desired amount of Ether (ETH). Click the “Preview Purchase” button to check out your acquisition before committing to it.
Checkout and finalise the deal after reviewing your order
To make sure everything is correct with your order, please look everything over. Make that the quantity of Ether you’re buying is correct, that your payment went through, that the Ether was sent to the correct wallet, and that the network is working properly.
Be aware that in addition to the network cost, there is a Coinbase fee. As a result, your grand total will increase. Be sure you understand this.
If everything looks good, click the Confirm button. In most cases, your Ether will be available in your Metamask wallet within minutes. If you’re ready to make the purchase of your NFT on Opensea, you can do so now.
What Other Cryptocurrency Wallets Can I Use With Opensea?
The Opensea platform is compatible with a wide variety of web3 wallets. However, not all Opensea wallets are created equal when it comes to keeping your digital assets secure.
If you want to know which wallets support Opensea, here’s the whole list.
| Wallets Compatible with Opensea | Compatible Blockchain | Type of Wallet |
| Ledger | Ethereum, Solana, Polygon, Klaytn | Hardware, Mobile/Desktop |
| Trezor | Ethereum, Solana, Klaytn | Hardware, Mobile/Desktop |
| Metamask | Ethereum, Polygon | Software, Mobile/Desktop |
| Coinbase Wallet | Ethereum, Solana, Polygon | Software, Mobile/Desktop |
| TrustWallet | Ethereum, Solana, Polygon, Klaytn | Software, Mobile/Desktop |
| Phantom | Solana | Software, Mobile/Desktop |
| Glow | Solana | Software, Mobile |
| Solflare | Solana | Software, Mobile/Desktop |
| Fortmatic | Ethereum | Software, Mobile/Desktop |
| Kaikas | Klaytn | Software, Mobile/Desktop |
| Bitski | Ethreum, Polygon | Software, Mobile/Desktop |
| Venly | Ethreum, Polygon | Software, Mobile/Desktop |
| Dapper | Ethreum, Flow | Software, Mobile/Desktop |
| Authereum | Ethereum | Software, Mobile/Desktop |
| Torus | Ethreum, Polygon, Solana | Software, Mobile/Desktop |
| Portis | Ethereum, Polygon | Software, Mobile/Desktop |
| OperaTouch | Ethreum, Polygon, Solana | Software, Mobile/Desktop |
Can You Tell Me How Much It Will Set You Back to Acquire an NFT on Opensea?
The average price of an NFT on Opensea, as recorded by DappRadar, is $490. Opensea’s 2.5% service fee, gas costs, and royalty payments are not factored into this price and can add significantly to the final amount paid by buyers and sellers.
When purchasing an NFT on Opensea, you may anticipate to pay the following fees.
Price for this service.
A 2.5% commission is paid to Opensea on all sales. You can make your own NFT whenever you choose without cost, however if you decide to sell it, Opensea will take 2.5% of the proceeds.
Gas tax
Purchasing Ethereum NFTs on Opensea entails a gas cost. Each time a user submits a transaction to the blockchain, they must pay a gas cost.
When you buy an NFT, list an NFT, make an offer, or withdraw an offer, you will be charged a gas fee. The price tag might be ranging from $5 to $150. This is contingent upon the volume of other transactions taking place on the blockchain at that time.
Etherscan has a feature called the Gas Tracker where you can keep tabs on gas prices.
If you’d rather not pay as much for gas, Opensea also provides access to NFTs on other blockchains, like Solana, Polygon, and Kalytn.
The “creator’s” share of the royalties
The maximum royalty rate you can establish as an Opesnea creator is 10% of your net NFT earnings. By doing so, you might earn 10% on every subsequent sale of your NFT.
The vendor, not the purchaser, is responsible for this cost.
When you buy an NFT on Opensea, what happens next?
When you make a purchase of an NFT on Opensea, the seller receives the funds from your wallet and the NFT is transferred to your address. Please be aware that Opensea does not host your digital asset. Instead, it is associated with the wallet address you provided during checkout on the blockchain where it was originally acquired.
You must log into your wallet before you can get to your NFT.
Additionally, I’d like to stress that buying an NFT on Opensea does not equate to the platform acquiring legal title to your assets. Opensea is merely a medium for exchanging, transmitting, receiving, and inspecting digital assets.
None of the funds in your wallet are owned or managed by Opensea. However, if there is good cause, they can remove NFTs from their platform.
A hardware wallet is recommended if you intend to keep your NFT stored for an extended period of time.
A hardware wallet provides the highest level of security for storing cryptocurrency and other blockchain-based assets.
Accessing Your NFT in Opensea
Follow these three simple steps to see your NFTs on Opensea:
- The “Collected” tab can be found on your profile.
- To access the NFTs in your wallet, sign in to Opensea with that wallet’s credentials.
- View your profile by clicking on the Profile tab.
- All of your NFTs will be displayed under the “Collected” tab.
- You don’t have to link your wallet to your Opensea account if all you want to do is access your NFTs. All of your NFTs will be displayed when you do a search for your login.
- If you haven’t already done so, create a profile and assign yourself a username before proceeding.
For all transactions involving the exchange or transfer of NFTs, the user must first log in using the wallet where the NFTs are stored.
Buying an NFT on Opensea is a simple process. Simply connect your web3 wallet to Opensea, look for the NFT you wish to purchase, choose your preferred form of payment, and remember to log out of Opensea and disconnect your wallet before exiting the marketplace.
If you don’t know how to safely keep your NFT, you could lose it in a scam or a hack if you buy one.
However, many people search about OpenSea using the following terms:
- Can you buy NFT on OpenSea?
- Where can I find NFT with OpenSea?
- How much does it cost to put an NFT on OpenSea?
- How much does it cost to mint NFT on OpenSea?
- How do I buy in OpenSea with MetaMask?
- Why is there no Buy button on OpenSea?
- How much is the gas fee on OpenSea?
- What NFT should I buy on OpenSea?
- What happens if NFT doesn’t sell on OpenSea?
- How much does it cost to make 10000 NFTs?
- Do I own the NFT if I Mint it?
- How do you make a 10k NFT collection?
- How do I buy NFT in OpenSea with MetaMask?
- How do I deposit money into OpenSea?
- Do you need MetaMask for OpenSea?
- Can you cash out NFT money?
- Who pays fees OpenSea?
- Is OpenSea free?
- Can anyone make a NFT?
- How much should I sell my NFT for?
- How much would it cost to mint 1000 NFTs?
- How do NFTs get their value?
- How much does it cost to make an NFT?
- What is the most expensive NFT?
- Why do people give away NFTs for free?
- Do you have to pay a gas fee for every NFT?
- Can you make money on OpenSea?
- What is the cheapest way to make an NFT?
- Is it worth creating an NFT?
- How do I turn my art into NFT?
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