The majority of NFT users purchase assets or collections to resell. But sometimes, the NFT is not so tempting, plus the holder wishes to sell or opt for something more appealing. Binance offers a user-friendly platform for those who want to sell their NFTs.
Here are some of the top reasons why NFT traders and collectors prefer Binance NFT as their preferred platform to sell their NFT.
Since Binance NFT, it has become the fastest-growing and the biggest centralized NFT marketplace. It sells over 1 million NFTs and works with more than 800 creators worldwide.
Since its launch in June 2021, Binance NFT has become the world’s largest and fastest-growing centralized NFT marketplace, selling more than 1 million NFTs and working with over 800 creators worldwide.
1. Industry-leading Volume and Liquidity
Volume is the total sum of NFTs traded during a specified period, whereas liquidity is the speed at which an investor can buy an NFT asset or sell it for its market rate.
With high liquidity and volume, Binance NFT creators or sellers can process fast and straightforward transactions, plus they can sell as well as trade on a bigger scale and get exposure to the world’s biggest crypto community.
2. Simple deposits from BSC and ETH Networks
Using the latest features, NFT collectors can rapidly sell and deposit NFTs from other platforms on Binance NFT. But, you should consider some requirements.
Binance only deals with the NFT contract addresses completely incorporated with its own NFT Marketplace, and users cannot deposit NFTs using non-approved innovative agreements addresses.
This platform keeps expanding and updating the approved smart agreement list.
2. Reduced costs
Binance NFT takes a fee of flat 1% for all NFT creators and sellers. Compared to other platforms that gather up to 7.5% of expenses, Binance offers its services at a reduced price in the marketplace. Additionally, sellers need to pay 1% royalty charges to the creators. The attractive low amounts of the Binance NFT enable sellers to receive more revenue on their assets.
3. Quick Fiat Cash Out
The platform provides a safe, straightforward, and faster way to withdrawal to binance from the NFT market. All the users of this platform can use their Binance wallets and current accounts on the Binance platform without additional steps.
4. How to trade BUSD and BNB revenues to fiat currencies
After a successful sale of NFT, users can switch their profits (ETH, BNB, or BUSD) into accessible fiat pairs to withdraw.
5. How to cash out Fiat through Card Withdrawal
You can also take out through card withdrawal and receive fiat for appropriate nations – UAH, RUB, EUR, and GBP.
6. Cash-Out via Third Party Payments
You can use third-party payments for GeoPay, SettlePay, and Advcash.
Access NFTs effortlessly with Binance Mobile App
The Binance NFT platform is automatically associated with your mobile application’s wallet and user account. While using its application, you need to click on the option “More” on its homepage.
Here you will find another option, “Trade” now, click on the Binance NFT, and follow the exact process you did before for listing your NFT for sale.
Ranking feature
Binance NFT highlights the best artists, NFTs, and collections on its ranking boards. Collections and artists get more publicity, whereas collectors can simply discover trending and new pieces to increase their collections. Also, the new ranking boards allow collectors to evaluate better and charge their asset value more precisely, boosting the possibility of a more lucrative sale.
7. Simple Token Conversions
Binance NFT holders can easily switch NFT crypto revenue to their favorite product or token on the Binance platform. It gives different features that fulfill various crypto targets. You can withdraw your gains, send them whenever you want globally, or subscribe to an Earn-product for generating crypto rewards, etc.
How to Deposit NFTs on Binance NFT
For building a large platform, NFT collectors from NFT, ETH, and BSC platforms can now influence the most significant crypto community across the globe, trade and sell on a bigger scale and enjoy the maximum NFT marketplace.
Binance accepts agreement addresses incorporated with the NFY market place with Binance. Here are the steps to follow for depositing NFTs on your Binance NFT.
Connect your wallet
Visit the User Centre page and click on the option “Deposit.”
You will then see the option “Wallet Connect.” From here, you will need to pick your wallet network (Ethereum network or Binance Smart Chain) and then click on confirm.
Now, choose the suitable wallet from WalletConnect or MetaMask and click on Sign.
2. Make your first deposit
First of all, you should click on the Deposit NFT option. Now, here you will need to paste the NFT contract address of your asset; you can find this option in
NFT contract address under Means the address of your contract. Please click on the enter button and try not manually enter the address.
After evaluating your contracts address and other details, you can check the NFTs of your collection. You will have to choose the one you wish to deposit and then click on it.
Fix the gas charges for your deposit and click on the confirm option.
As soon as you finish the process, you can quickly get and list your deposited NFTs in the NFT Asset.
Conclusion
The NFT industry is closely considered as one community. Community engagement and promotion are the next major step once you have listed your NFT on a marketplace. So, pick your products carefully and invest in your favorite product.
