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How to trade NFTs on OpenSea?

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Whale
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OpenSea is the world's leading all-in-one marketplace for NFTs. It allows users to discover, buy, sell, and create digital collectibles across various fields like art, profile pictures (PFPs), gaming, and more.

A key feature of OpenSea is its cross-chain payment system. Users can pay with their existing tokens such as ETH, WETH, or USDC to purchase NFTs across different blockchain networks.

For example, let's say you want to buy an NFT on Polygon, but you only have ETH on Ethereum. No problem. At checkout, you can simply choose to pay with your ETH. OpenSea will automatically handle the swap and cross-chain transfer for you with just one click.

How to Buy an NFT

1. Connect Your Wallet

  • On the "Browser" tab in your imToken app, search for OpenSea or directly visit opensea.io
  • In the pop-up window, confirm to authorize the wallet connection.

2. Browse and Discover NFTs

There are several ways to find an NFT you'll love:

  • Use the search bar: If you know exactly what you're looking for, type it in at the top 🔍.
  • Check the Stats: Explore the "Trending" and "Top" rankings to see what's currently popular and identify leading projects.
  • Use Filters: Click the menu in the top left to go to “Activity” and filter by status (e.g., Listing, Sale, Mint), offer type (e.g., Collection Offer, Trait Offer), or network (Ethereum, Polygon, etc.) to narrow down your search.

3. Understand the NFT Details Page

On an NFT's detail page, pay attention to the following information:

  • Network: The blockchain where the NFT is located, like Ethereum or Polygon. 
  • Price Info:
    • FLOOR PRICE: The current lowest price in a collection. Click "Buy Floor" to purchase this cheapest NFT.
    • Buy now: Purchase immediately at a fixed price. You can also click "Make Offer" to negotiate a price or check "Offers" for other offers.
  • Details (Traits): The traits and rarity of the NFT—more rare features usually mean higher value.
  • Activity: ​​The history of this NFT’s on-chain activities like mint, listing, offer, and transfers.

4. Make the Purchase

You have two ways to buy:

Method 1: Buy Now

Buy the NFT at the seller’s fixed price and complete the transaction instantly.

Taking the purchase of an NFT on the Polygon network as an example. Click the "Buy Now" button. Depending on the tokens in your wallet, the flow will differ:

  • If you have enough ETH on Polygon, your wallet will automatically prompt you to sign the approval and purchase transactions.
  • If your Polygon wallet lacks ETH but you have ETH on another network (e.g., Arbitrum), you can choose to pay with ETH from that network (as shown below). Then click "Purchase" and confirm the transaction in your wallet. The platform will automatically handle the cross-chain payment.

Method 2: Make Offer

  • If the price seems too high, click "Make Offer" and enter your offer amount and offer expiry date.
  • Review fees such as platform commissions and creator royalties, then click “Review Item Offer” to approve the transaction in your wallet.

💡 What is an approval transaction? It grants the OpenSea smart contract permission to use a specified amount of your tokens (like WETH) to make a purchase or an offer on your behalf.

To ensure your offer is valid, the WETH used for the offer will be temporarily locked. If the seller accepts, the transaction completes automatically. If the seller declines or the offer expires, the tokens are automatically unlocked and returned to you.

5. View Your Purchased NFT

Once the transaction is confirmed, you can view your new NFT by clicking on your Profile icon in the top-right corner of the OpenSea page.

How to Sell an NFT

1. Choose the NFT to Sell

  • Go to your Profile and under the "NFTs" tab, find and click on the NFT you want to sell. 
  • Click the "List for sale" button.

2. Set the Price and Duration

Enter your desired selling price and set the listing duration (e.g., 1 day, 7 days).

3. Confirm and Sign

  • Review the details and fees.
  • Click "Review listing" and sign the transaction in your wallet to finalize the listing.

Once listed, your NFT will appear on the marketplace for buyers to view and purchase or make offers on.

You can manage your listed NFTs anytime through your profile under "NFTs," including changing prices, adjusting listing durations, or canceling listing.(Please note that editing the price or canceling a listing requires paying a gas fee.)

OpenSea official channels

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For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also allows users to use OpenSea and supports the NFT ecosystem.

Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Tokens investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.