Bitcoin NFT and OpenSea
NFTs on the subject of Bitcoin exist as a unique collection at OpenSea. Each NFT is unique and exists only at OpenSea.
What are NFTs?
Non-Fungible Tokens (NFTs) are unique digital assets that represent ownership of specific items (art, music, collectibles, etc.).
Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, each NFT is unique and cannot be exchanged one-to-one with other NFTs. This uniqueness allows for the creation of digital art and collectibles that have value based on their rarity.
How to trade NFTs at OpenSea
To trade NFTs at OpenSea, the following steps are required
1. Create a Crypto Wallet: In order to trade NFTs on OpenSea, you will first need a Crypto Wallet (e.g. MetaMask), a browser extension that allows you to easily interact with the Ethereum blockchain.
2. Connect your Wallet to OpenSea: After creating your Wallet, connect it to OpenSea by going to the OpenSea website and clicking on the “Connect Wallet” button in the upper right corner.
3. fund your Wallet with Ethereum: To buy, sell, or trade NFTs with OpenSea, you need Ethereum (ETH) in your Crypto Wallet. ETH is the primary payment format for transactions on the OpenSea platform, purchased from cryptocurrency exchanges such as Coinbase and Binance.
4. buying and selling NFTs: to trade NFTs on OpenSea, explore the OpenSea marketplace and look for NFTs that interest you. once you find an NFT, click on the card to open more information about that NFT. If you wish to purchase the NFT, you can either buy it at a fixed price, or you can bid on it yourself, setting your own asking price and bid expiration date.
5. Selling an NFT: To sell an NFT, go to your profile and click on the “Collected” tab. Here you can select multiple items, click on “List items” and select the list price and sale period for each item.
6. Auction and Time Auction: OpenSea supports two main ways to sell NFTs: Fixed Price Sales and Time Auctions. In fixed-price sales, NFTs are listed at a set price and can be purchased immediately by buyers. In a time auction, a starting price is set and interested buyers can bid within a specified time frame. The highest bidder becomes the winner at the end of the auction.
7. fees and costs: When trading NFTs on OpenSea, you must consider the gas fees associated with the Ethereum blockchain. Gas fees are transaction costs for performing operations such as buying, selling, issuing new NFTs, transfers, etc.
Bitcoin NFTs
Bitcoin NFTs are unique and each has data associated with a bitcoin transaction. This allows a Bitcoin transaction to be represented as art, which can then be held as an NFT. These bitcoin NFTs can be traded on the OpenSea marketplace and prices vary.
I hope this information helps you understand bitcoin NFTs and OpenSea.
※Reference URL①:Bitcoin NFTs
※Reference URL②:How to Trade NFTs on OpenSea: A Concise Guide for Beginners
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