How to Trade NFTs on OpenSea [Beginners Guide]

[00:02] for hundreds of thousands if not millions of dollars as well as brand new mints being profitable for both whitelisters as well as traders on the secondary market. And while there are plenty of money-making opportunities, I

[00:15] believe the best is still yet to come. So, it is crucial to understand how to use these tools today so you're ready for what's right around the corner. So, in today's video, I'm going to show you how I make money trading NFTts with my

[00:27] whole time while we do this, we're going to be earning OpenC XP and other rewards, which are going to lead up to OpenC Foundations C token airdrop. Ladies and gentlemen, welcome back to another Cryptogorilla video. As usual, I

[00:41] am not a financial adviser. I am also an OpenC ambassador. But everything I say, my opinions, my speculation, it is all my personal opinions. So, hit that subscribe button and let's jump right into today's video. So, OpenC is a

[00:56] decentralized marketplace, meaning you have full custody over your NFTts, your tokens and they have no control over your assets. However, this also puts the burden of responsibility on you, meaning you're going to need a decentralized

[01:10] wallet. Now, there's a ton of options to choose from on OpenC. They all pretty much function the same. They're all browser plugins. My personal favorite is Rabby, but you're free to pick whichever one you want. And it's just going to act

[01:23] as this little popup here on top of your browser. So, install it, make an seed phrase, which you need to keep private. If someone gets access to your seed phrase, they have access to your funds, and there's no refunds. Now, once

[01:36] to fund it with some crypto. Unfortunately, at the time being, you cannot purchase crypto directly on OpenC using a credit card. Some decentralized people, you're probably going to do it through a centralized exchange, for

[01:51] description down below. So, now that you have a wallet, your wallet is funded. Let's get started looking at some NFTts. So, we're going to go on the left side here to the collections page. This is where you see all the NFTs that are

[02:04] trading on the market. OpenC has the most chains on the market. They have 19. and chains like Salana and Ordinals have been hinted that they are coming in the near future. Personally, I prefer trading NFTs on ETH. So, if we want, we

[02:18] can filter it down to ETH. You can also use more filters here, like maybe I just want to look at art NFTTS or music NFTs or PFPs, whatever floats your boat. And then depending on what I'm doing, if I'm shopping for a legacy collection or if

[02:32] I'm trying to trade what's hot in the market, I will swap between the top tab and the trending tab. Now, trending is where I'm going to find a lot of my daily trades. However, you do need to be careful. People are creating collection,

[02:45] spoof collections, trying to pretend it's a real one to lure you in. So, whenever you see this new symbol, for example, monster capsules, I can tell immediately this is a fake collection because it says new. Now, OpenC is great

[02:58] quickly, but some are going to pass through the cracks. But two things, one, always hover here. Like created 8 hours ago, this makes no sense. If we just look up Monster Capsules, you can see this is the real one. And I know one

[03:11] because of the volume, even though fake ones get volume, but the floor price as well as this verified badge. You always want to look for that blue verified badge on collections that are notable. Now, we're going to come back to this

[03:23] trending page because I do want to show you how I trade brand new collections. But let's first start off by looking at a collections individual page. So, I'm very notable collection. So, here we are on the collection page. You can see all

[03:37] of the NFTts in this collection. You can also change the layout. Like maybe I'm the art. Maybe I just want to see how thin the floor is. So, I'm going to back to this one cuz I like looking at these NFTs. Now, if we look on the left

[03:52] all of your filters. So, maybe I'm just want to look at different traits. So, for example, the solid gold fur, which recently there was actually a $666 ETH sale, $2.3 million on a solid gold

[04:09] ape. Now, as I toggle on and off these filters, you'll notice on the right side here, the activity is changing. That's because it's also filtering down the activity. So, I can see specifically what is the activity on this trait,

[04:21] which is something I love. Now, maybe there's a second trait I like, like this crown or Caesar hat. I'm not sure what it's called. For that, I would click on the NFT. I would scroll down. I would look for the hat trait, and it's called

[04:33] Laurel Wreath. For that, I can just click it. And now, I'm going to see all the different wreath hat traits that are available in this collection. But I also wanted solid gold. So, let's turn on two. And it turns out there's only one

[04:45] in this collection. So, maybe here I go purchase it for uh what is this? $2 Moving on to the right side, we already saw there's your activity feed. There's also a chart which personally I look at these a lot especially when something's

[04:58] getting swept. I want to see what the uh price action is in that collection. And you can also filter by time. So let's go to one year. If you're good at TA, if be really useful. Like I recently purchased an ape for 12 ETH. And while

[05:12] that is very expensive, I was looking at this chart and you can see from last September, like every time the floor has come down to 10 ETH, even recently, it has held really strong. So, I knew this was an area of support and I felt good

[05:27] buying an ape at 12 because I thought worst case it goes down like 15% or whatever it is to 10 ETH and best case in my opinion it's going to 2 to 3x this cycle. So, a lot of information is available on this page. Another thing

[05:40] you can do, let's say you want to get exposure to the board ape or Yuga Labs ecosystem, but a board ape currently $42,000 like that's extremely expensive, right? for anybody, not just uh somebody who doesn't like NFTs, even for a

[05:52] can do is you can go to the about section, scroll down to the featured collections, and here we can see all of the related collections to board apes. So, here we have mutant apes, which are cheaper, still like six grand. We have

[06:06] the kennels, which are 1,400. We have other deeds. So, it's just telling you, collection and you want exposure, but you don't have enough for a board ape, and other people are also going to be looking at these. And it's the same on

[06:21] any collection you go to that has subolctions. So, if we go to Pudgy Penguins, for example, like really expensive at $50,000, but maybe I still want exposure. I'm going to scroll down to featured collections here. I can get

[06:33] a little Pudgy. I can get a Pudgy Rod. If I go to Isuki, it's going to be the For moonbirds, there's going to be mythics and oddities and so on. So, let's just quickly run through the other tabs before I show you how to buy, sell,

[06:47] make offers, and all that. We have a more detailed activity feed where you can filter by price. You could filter by trades, which I use this a lot. We also have the holders page, which this is something I look at more for new

[06:59] somebody's going to dump on me, or if I want to find wallets, like, hey, who's this guy who holds 219 apes? Maybe this is a wallet I should pay attention to. the offer section. And this is also going to apply to new collections, but I

[07:14] like to go see the offers on expensive collections because there's a lot of money to be made here. A certain type of trading is putting in offers on a floor, getting it accepted, and then immediately flipping that NFT. For

[07:27] example, if we go to activity, I can see right here, this ape sold twice within a 1 hour period. You could see somebody got an offer accepted for $39,300

[07:39] and he flipped it within an hour for $41,400. Over $1,000 profits, not counting the fees. So, this is one viable method of trading. But the downside here is if you put in an offer, it gets accepted and

[07:55] going to be stuck holding something you potentially didn't want to buy in the first place. Now, if you do want to put in an offer, there's a few ways you can do this. You can either make a collection offer, this is going to apply

[08:08] to the entire collection. So, never bid above floor and usually you bid around the other highest offer. So, if I want to be the highest, I would come in and bid 11.3 ETH. And to do that, it's super easy. You literally just write 11.3. I

[08:23] ETH in my wallet, but you would just click uh review collection offer. Your wallet would pop up. you accept sign and your offer is going to go through. Now, maybe I only want to make an offer on a specific ape. In that case, I would

[08:36] click it and then I would do make offer. So, this is only going to apply to that specific NFT. Or if I filter by trait, let's say I really want a solid gold fur ape. Then, when I filter down, it's going to say make trait offer. So, when

[08:51] I put an offer here, it's going to apply to all of the NFTts with that specific trait. Now, another thing you might have noticed is it's saying we w and yes, there is a difference between ETH and wrapped ETH, but the price is exactly

[09:05] the same. It is the same asset. The only difference is you're wrapping your ETH, and you need that in order to make offers. Now, back in the day, you used to have to swap ETH for wrapped ETH, but luckily, OpenC added a feature where

[09:18] it's just going to do the swap for you. So, even though in my wallet, I have two ETH, but only 0.04 wrapped ETH. If I try to go through cuz they're going to do the transaction for me. Now, we'll talk

[09:30] a little bit more about offers, even accepting offers in a little bit. But I did want to go back to the collection page and show you how I play brand new I've been trading over the last week. No bad trippers is one that did really

[09:44] well. If we look here, multiple times that went down to 6, and I completely messed up this one. Okay, I dumped right before this massive pump. But why did I buy in? What's the logic of me buying in? Because I did buy five. And there's

[09:57] at and I'm going to show you uh why I bought into that one as well. But what I saw here was it was getting a ton of volume. So the first thing I look at is volume. The second thing I look at is the listings were decreasing. So

[10:11] to be less listings, but it's not like there was a ton of listings that were there was a ton of listings that were flooding the market. Right now at 17.5%. That's really high for listings. For a collection of only 3,000 supply, there

[10:24] collection of only 3,000 supply, there are over 500 listings. 524. That is very high. So looking at it, looking at the floor, it's it's actually not that bad going up. If there was a sweep that came through, it could go pretty quickly. But

[10:36] I try to really look for volume and not get too involved when there's a lot of at volume. I look at the number of listings. I also look at how many people are buying rares. So all of these sales, these yellow dots on the chart, these

[10:51] are people buying rare NFTts from that collection, which is a good sign when it's a high frequency. So to see this, let's just close insights here. I can do highest last sale. It's going to show me the most expensive sales that recently

[11:07] these guys' wallets. Maybe you're going to find somebody talking about it on Twitter, which is another thing I often look for. Who are the people talking about these NFTs on Twitter? And for this specific collection, I saw a bunch

[11:20] of big NFT collectors celebrating it, sharing their mints or their purchases they're going to diamond hand it. And that's because this is an artist that people know, right? Killer Acid. A lot of people know him. They like collecting

[11:34] his stuff. So, those are things I look for. I also want to look at who are the wallets who are buying. So, I will go to the holders tab. Here you see TMA. He's a notable trader. He runs a great community that is very NFT focused. So,

[11:47] collecting these. And we actually track all of these collectors in my community, Guerilla Labs. And we have a channel that is going to ping you whenever some of these collectors buy and sell NFTts. So, you're going to get alerts like,

[12:01] attention to this or maybe you should get out because some of the big holders recently got into, and please don't just go buy these collections cuz I bought it. I'm probably going to have sold by the time this video is uploaded. So,

[12:15] just look at this as me showing you why I bought these. I came in last night and purchased 12 of these. I currently only have six because I flipped six of them for 2x. So, I covered my entry cost and now I am holding for free. And the

[12:31] reason I bought these even though they've been out for like over a week is because of these sweeps that started coming in. And I was seeing again big names on Twitter talking about these. So to me that was a signal. And look how

[12:43] much the volume was increasing here with all these sweeps. So I just saw okay sweeps, barely any sales. Bad sign. I don't like when there's not a lot of sweeps. I was part of this sweep. This is where I bought because I saw another

[12:56] sweep coming through. I went to bed. I listed before going to bed and then boom, I woke up and there was a ton of sweeps that happened overnight. So I am constantly looking at charts. I am constantly looking at what the volume is

[13:08] over a 24-hour period or even a 1 hour period to know, hey, people are interested in this collection because at on with NFTTS. There aren't that many collections that people are trying to

[13:21] buy into. So when attention is on a collection, everybody's looking for something to play. So those are the kind of signs I look for in NFTts. And if we activity, you can see last night I came in, I swept 12, I listed them, and then

[13:36] overnight throughout the day, a bunch of them sold. Now, it's not only brand new collections that I look for these kind of signs on. I also look for it on legacy collections like Moonbirds is something I want to be buying into, but

[13:48] the floor is just extremely strong and I really missed out. I should have had offers in. So, offers are very powerful. You can catch a crazy dip and then the floor just bounce right back. For example, Moonbirds with the market crash

[14:01] started to go down a little bit and they went all the way down to 1.9. They are currently already back up to 2.4 ETH, which that's roughly half an ETH. So, like $1,600 profits in less than half a

[14:14] day. Now, another collection that's been getting a ton of activity is Clon X. And with Clonex. Okay, I got my shoes right here, but uh love hate. But the sweeps that have been coming in on Clone X have been crazy. And you can see the floor

[14:29] price is currently 38. That's like a 4x in the last couple of weeks. So, I've been racking my brain trying to figure out why is this collection pumping. Should I be getting in on it? And a lot of people are speculating that there's a

[14:43] CTO that happened like a buyout on Clone X or something's going on. So, I'm scouring Twitter looking for who's talking about this. Does anybody have any alpha? Do I know anybody who's talking about it that I can DM and get

[14:56] some info from them? And here we have Kosmodo Demadichi, a notable person in NFTs. He collects a lot. He's uber rich. And he replies here to De's who asked, don't get it." He said, "I'll tell you after the announcement." So,

[15:11] unfortunately, I don't personally know Kosmodo Demidichi. I don't know if he's there's something that's going on with his collection. So, I'm really considering here getting a position in Clonex, but I have PTSD with this

[15:24] collection. Like, I do not want to get burnt again. One of my first shorts that I posted is how I lost 20 grand on Clone X. But that's really my logic when it it's something new, I'm looking at who's trading it, like how's the volume, how

[15:38] dumping it and they're moving on to something else or are they still interested in it? And then for legacy collections, I got a position in Pudgy Moonbirds. I just bought a board ape. That's because I believe in these

[15:51] collections long term. As more people return to the market or as more people do believe they're going to pick up these assets. However, there's also, like we just saw, legacy collections like Cloneex where, you know, I've lost

[16:04] complete faith, but there's something going on. There is information that's going to lead to a catalyst that's potentially going to full send it. And looking for. Now, let's say I'm ready to buy an NFT. How do you do that? Let's

[16:17] they're really cheap and I don't feel like losing $1,000 in this video. Let's say I've I've chosen one. There's a few different ways you can purchase. One way is just clicking buy now directly on it. It's going to pop up your wallet. You

[16:31] can actually here choose to use your debit or credit card. However, you're still going to need that decentralized wallet to hold your assets. And then you're also going to need to have some crypto. So, no matter what, you need to

[16:43] have a decentralized wallet. Let's go back to my Rabby here. I would click sign and I would purchase it. And then it's going to appear in my wallet. You to your profile page. You're going to see all of the NFTts that you own. But

[16:59] the other ways you can purchase. You can click this buy floor. Like if things are immediately buy the floor by clicking this button. Maybe I want to purchase multiple. I can manually select them with this little plus sign. And now

[17:13] they're going to be uh selected. Let's just clear that to turn it off. The yesterday, is just sweeping. Like I just use this little sweep thing here. It's going to tell you the total of how much you are spending on this entire

[17:27] collection. You can also set a max price per item uh that you want to purchase, sweeper here. And then you would just click the sweep button. It's going to tell you how much you're spending. Again, pops up your wallet. We are not

[17:40] going to clear this, but I am going to purchase one. So, let's just click buy When we sell, there's going to be more information. So, let's go ahead and buy down here. We're going to get a confirmation shortly.

[17:56] And voila, item purchased. If I go to my wallet, it just appeared right here. And I now have seven onchain allstars. Now, let's say I no longer want this NFT and I want to sell it. We have a few options. So, the first option is sell

[18:10] now, which this is just going to dump it into the highest bid available, which you can see is less than the floor. It is $15 less than the floor. So, if I click sell now, I'm going to be accepting this bid, I'm losing $15

[18:24] compared to if I listed it on the floor and somebody buys it. Maybe 10 people cancel for now. You also have to consider the fees. So, there's a 0.5% platform fee which goes to OpenC, but this collection has creator royalties.

[18:39] cases, you're actually able to toggle these off. That's completely up to you. collection, you could pay royalties. this. Like, I want I'm here to make money flipping NFTs. So, I try to pay as

[18:54] going to hear me say that and freak out. I don't care, okay? I want to make money trading NFTs. So, I have to add this in to my sale price, especially if I'm trying to break even here on how much I'm losing when I sell this NFT. So, if

[19:09] I wanted to accept the bid, I would just click retry and I would sign the to list it. So, there's a few options here. Either I click on it and I click list for sale. Here, I can set a price. So, I would look, okay, what's the floor

[19:23] price? It's 0.0323. Oh, I have a trade floor. have a rare trait which is currently listed for 0.069. So maybe I want to undercut that guy. 068, but I feel nobody cares about that

[19:36] rare trait. So I would probably just list it uh on the floor or maybe a a little bit less than the floor. Again, you have to consider that you're paying creator fees. Then I just click review listing. It's going to prompt my

[19:48] MetaMask. I'm going to click sign. It's going to do its thing and boom, my NFT is listed. If I go to the collection, here I am on the floor. Uh hopefully to be losing a little bit of money on that because of the fees. Now, let's say

[20:03] I want to nuke the floor. I'm like, yo, I don't want any of these NFTs, okay? I want to sell them all here. I could automatically list multiple in one shot. And what you can do here is I can ladder them. So, maybe I don't want to, you

[20:16] know, put seven NFTts on the floor at 0.0323 0323 because now somebody's gonna come undercut me and it's going to be a lot to sell. Maybe I want to ladder them. Maybe I want to go to bed or go to the gym or something and I want to make

[20:29] money as the floor is going up, which is exactly what I did last night as this floor was going up. So here what you can do with ladder is I'm setting a base floor price of 0.0323 and it's saying, "Hey, how much do you want to increase

[20:42] "Hey, how much do you want to increase by? Let's do uh 0015." Okay. So now I click confirm and it's automatically going to set prices for all of these going up in increments of 0.0015. Now if I had 30 NFTts, this is extremely

[20:58] convenient because it's really tedious to one by one type in a price. So if I edit because mine are actually already listed. But you would click it would say in your wallet. So just for the sake of it, I'm going to uh accept an offer so

[21:14] going to go here and click accept offer. I'm going to have to sign in my wallet. The transaction is going to go through and you won't see my balance go up in Weath again because when it comes to uh

[21:28] placing offers offers and accepting offers, it is always in Weath. And voila, my balance has gone up and the NFT is no longer in my wallet. Now, OpenC is expanding. They are no longer just NFTTS. You can also purchase tokens

[21:44] on the platform. So, they have a ton of chains. They also have Salana, which they don't yet have for NFTTS, but it's soon going to be added. So, let's go ahead and purchase a token. So, you can see what that's like. I'm going to

[21:56] purchase some Pangu. We're going to actually look for it. And right here, collections, which are NFTs. So, you see Pudgy Penguins, but there's also tokens. So, under tokens, I'm going to click Pangu. And this one is on Salana. So, if

[22:09] you want to do this, you are going to need to use a Salana wallet. So, here I'm clicking switch to Salana. I might actually have to manually connect it. And let's just go ahead and purchase. I like I like Pangu. Let's purchase one

[22:21] soul of Pangu here. It's going to give you a quote. If I click this dropown, there's a provider fee. There's an open which is uh rally I believe. There's a

[22:33] slippage which if you want to change that, it is up here. Uh, Pangu is a not that volatile. So, I'm going to actually set this to one just to lower

[22:45] slippage. Slippage is the amount that you're willing to get give up in order So, if it's a brand new memecoin, I set my slippage to like 30% sometimes. If or I want to give up as little as possible. So, I'm just going to put it

[22:59] at 1%. And then I'm going to go ahead and click swap. Just like in my Rabby wallet or MetaMask, whatever you're using, I have to confirm in my wallet. using, I have to confirm in my wallet. And voila, I swapped one soul for 4,545

[23:13] Pangu. Now, we also have a notification bell here at the top, which is going to notify you for multiple things. It's going to tell you when you've sold an NFT, when you purchased an NFT via bid. So, you can see here I had a bid on a

[23:26] bad bun and it notified me. but it's also going to tell you when you have uh unclaimed rewards. So, like I said at the beginning of this video, this whole time we are farming XP. We are earning rewards on OpenC and that has to do with

[23:40] their rewards program which I highly suggest you sign up for. Your screen is to be a little walkthrough where they introduce some stuff, but we have a few things going on here. So, let's run through it. The first thing are voyages

[23:53] which these are daily quests from Monday to Friday where you have tasks such as to Friday where you have tasks such as buy an NFT, buy a token on a specific chain or any chain, uh do some social tasks or do some educational tasks like

[24:08] explore a token page or whatever it is. Now you can see I can claim this reward and that's because this task was purchase any token on the Salana chain with a $10 minimum which I just purchased Pangu which is on Salana for

[24:22] like 150 bucks. So if I go ahead and click claim reward. This is worth 100 XP. You're going to see my XP here. I might have to refresh actually but it is currently claiming. Here we go. We got 100 XP for completed his voyage. Let's

[24:35] didn't even need to refresh. But you could see I just crossed over 12,000 XP. could see I just crossed over 12,000 XP. I am actually little flex in the top.1% of XP earners according to some random Dune dashboard that I found like a month

[24:49] ago. So take that with a grain of salt. But this is something I have been doing as much as possible. If we go to my activity, I have been completing every single voyage that I can if I'm home or whatever uh to try to get as much XP as

[25:03] possible. And there's five different rarities of voyages and they all have rarities of voyages and they all have different XP from 25 all the way up to I mean 250 for a rare or epic but legendary is even more and legendaries

[25:16] come in the form of shipments for so for and we don't know what shipments are for example there was a message up here that said hey voyages are done for the weekend go touch some grass upload a picture on Twitter with the hashtag

[25:28] opencouchgrass so I did it and when I got back on Monday boom I had a shipment that I was able to open. Unfortunately, this one was only 50 XP, but there's been shipments in the past that here 1,415 XP, 500 XP. So, this is where you

[25:44] really rack up a lot of XP, both doing the daily voyages as well as getting these rare shipments. Now, another thing you can do is collect treasure. Treasure

[25:56] are like badges that are rewarded uh at random pretty much to everyone who has participated in them. So you can see I have three. There are six tiers. So for this one, I only got tier five of six. And just an example, this one was

[26:08] awarded for being in the top 1% of XP earners during the OpenC2 beta test. So maybe in the future there's going to be some for like having tweeted or having a lot of volume or token swaps or whatever it is. I have no idea. Again, these are

[26:23] given out at random whenever the team feels like it. But I am trying to make sure I get as many as possible. Now, another thing I'm trying to do is keep my loyalty at 100%. And the way this works is you have to be loyal to OpenC.

[26:36] If an NFT is available to trade on OpenC, but also other platforms, make sure you are doing it on OpenC to keep your loyalty score high. If it's something like Ordinals or Hyperlid, those aren't available yet on OpenC. So,

[26:50] no problem. Go trade it on another exchange. But for things on ETH, abstract, AVAC, whatever it is, I am always doing it on OpenC. Now, the other but they have said they are considering is your trading history. So, if you were

[27:04] around in the 2021 bull run, they are going to count that your trading during the bare market, but also your current volume. So, I'm just organically trading collections cuz I love trading NFTts, which is great cuz it's all being added

[27:18] onto my profile, which is going to lead to an eventual token airdrop. But I'm not only doing NFTTS, I am also trading tokens, which is something that was mentioned in an article by Adam Hollander. So whenever I want to swap a

[27:31] coin, whenever I want to trade meme coins that are available on this platform, or if I want to buy altcoins as I'm still DCAing into altcoins like uh Avalanche or whatever coin you like, I am doing it on OpenC. So that is how I

[27:47] trade NFTts. That is how I use OpenC which in my opinion even though I work which in my opinion even though I work with them is the best exchange on the crushing it with features. In fact, if you have a feature request or you find a

[28:00] bug on the platform, right, there's going to be bugs. Go in the Discord, report it. They will answer you within a minute. They will open a ticket and they will forward it to their dev team and get it done for you. Whether it's a bug

[28:12] have on the platform. They have been absolutely crushing it. So, great job to the OpenC team and everybody working on this platform and I hope you liked it and I hope you make money in NFTTS cuz I feel they are about to explode. So, that

[28:28] questions, please ask them in the description down below. I will answer you even if it's been 2 years, okay? I love YouTube. I love NFTTS. I'm not going anywhere. So, ask it. I will answer it. If not, you could join my

[28:41] Discord and tag me and I'll try to answer you there. If you appreciated haven't already done so, would you kindly hit that subscribe button, smash that bell notification? Thank you for watching another Cryptogorilla video.

[28:55] watching another Cryptogorilla video. Peace.