This guide tells you everything you need to know about making bids on Opensea. Bidding is also known as making an offer. Bids or offers on Opensea must be carried out using Wrapped Ether (WETH). Now you are probably wondering why ETH cannot be used. Well, it’s because ETH transactions are designed to take place using ETH, and bids and offer are designed to take tokens of ETH. Its a bit like going to a fairground where some attractions require cash, and some may require tokens. In this cash you must use the cash to buy tokens so they can be used for placing bids/offers. ETH and WETH therefore have the same value, but used slightly differently. In a nutshell WETH was designed to allow safer and easier trades.
Advantages of Bidding or Making Offers on Opensea
- WETH allows you to bid on multiple items at once.
- You will only pay for NFTs which have accepted your offer, and you have enough funds in your account to buy.
- Offers make it possible to get a very good deal, below the item list price.
How to Make a Bid/Offer in Opensea
- Convert your ETH into WETH.
- Click on the NFT you are interested in. You should now see the item page for that NFT.
- Click “Make Offer”.
- Now enter the amount of WETH you wish to offer for that item.
- Click “Make Offer”. Please note that you may be charged a gas fee for your 1st WETH offer. After that, all gas fees for offers will be free.
- Now approve your offer on Metamask wallet.
- You will receive an email notification if your offer is accepted. You can also view your offers on your Opensea profile.