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OpenSea's Deals Launch Draws Mixed Reviews From Web3 Community

When OpenSea hinted at a big announcement last week, many speculated a token launch was imminent. But instead, they surprised users by unveiling a new "Deals" feature for direct NFT trading on their platform.

Deals lets users exchange NFTs or bundles of NFTs from their collections for others' NFTs. WETH can also be added to offers. This creates a more peer-to-peer experience right on OpenSea.

Reactions to Deals have been mixed. Many approve of the added flexibility and security. Direct on-platform trading reduces scams from shady off-platform negotiations. However, some criticize the timing, wishing this came sooner. Others hoped for a token, not a product update.

The timing is debatable. But ultimately, a more trustworthy trading environment benefits everyone. Although late by some standards, Deals should attract new users desiring a safer experience. Despite criticisms, enhanced security is a clear positive.

Source: NFTNow

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Trading Basics in Six Steps

Web3Trading.com covers how trading in digital assets works, with risk management first and hype last.

0 of 6 complete
Investing means holding for years. Trading means buying and selling over days or hours to profit from price moves, which is harder than it looks.

Time horizon

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Limit order

Crypto prices can move 10% or more in a day. Size every position as if that move could happen against you.

Volatility

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Leverage

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Stop-loss

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Trading Basics in Six Steps

Web3Trading.com covers how trading in digital assets works, with risk management first and hype last.

0 of 6 complete
Investing means holding for years. Trading means buying and selling over days or hours to profit from price moves, which is harder than it looks.

Time horizon

A market order fills now at the best price available. A limit order fills only at your price or better.

Limit order

Crypto prices can move 10% or more in a day. Size every position as if that move could happen against you.

Volatility

Borrowing to trade multiplies gains and losses. A small move against a leveraged position can wipe it out.

Leverage

A stop-loss sells automatically at a set price to cap a loss. Decide your exit before you enter.

Stop-loss

Log every trade with the reason, the result and the fees. It shows what works, and you will need it for taxes.

Trade journal

Educational only, not financial advice. Crypto prices move fast and you can lose what you put in. Some links are affiliate links; we may earn a commission at no cost to you.

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