An exchange for crypto assets is a decentralized exchange where you can exchange smart contracts.
With the birth of dapps, a new technology has been created and therefore a new way of acting.
Today the Dapps are many and with them they have also created assets that serve for the functioning of the dapps themselves.
Being able to sell or buy these assets is very important as it increases their functions.
A very important one is certainly Opensea, an excellent exchange for crypto assets.
In fact it acts as an e-commerce where it puts in communication more subjects.
What is Opensea the exchange for crypto assets
Opensea is a decentralized exchange for crypto assets that is cryptographic objects that use a Blockchain to work.
It uses the Ethereum network to work, and is integrated with light wallets like Metamask.
You can sell everything as long as it is a cryptographic object on blockchain and is a contract with ERC-20 protocol.
For the future it seems that the company is integrating other blockchains to increase the variety of trade.
There are around 60 types of assets on the market, including CryptoKitties, Decentraland, MyCryptoHeroes, etc.
Furthermore, in order to examine the transactions it is necessary to use the Ethereum scan as it works on its blockchain.
There you can see all the contracts you have on your wallet address.
How Opensea works
First you need to go to the official site of the exchange that is here.
After that the site does not give the possibility to register but you must have a portfolio for browsers like Metamask.
I can also use others like Dapper or Portis.io, all with the possibility of being a browser extension.
Once we access the wallet we can connect to it and enter the platform.
Obviously the assets must be present in the portfolio in question to be uploaded to the site.
After logging in using the wallet, going to My items in Account at the top right, we can see all the assets we have on the wallet address.
On My activity we can see all our transactions, instead on My offers all offers made or received.
Buy and sell an asset
By clicking on an own asset, we can exchange it by selecting one of 3 possibilities, ie:
- Set Price, sell it to the highest bidder;
- Highest bid, sell it at a set price;
- Bundle, sell it along with other assets at a price.
We can also be anonymous about the sale by ticking Private or including a reserve price by ticking Ending.
In addition, the price drops by a small percentage every day until it reaches a set minimum price to increase the possibility of selling.
Opensea takes 2.5% of Fee for having made you sell the asset.
To find an asset on the market just go to the search bar at the top or go to the main menu and scroll through the items on the right.
By clicking on a chosen asset we can make the offer by going to the BUY NOW item, offering the minimum price.
Or depending on the type of sale we can buy it directly if it is sold as Highest bid.
On the lower part of the page, we find the details of the single object, its properties, if it was previously sold, etc.
It also presents an excellent community to be able to exchange opinions, and is present on:
Opensea is an excellent tool for those who want to sell or buy crypto assets for their Dapps.