After the cryptocurrency craze, NFTs are the next furor that has taken people by surprise. Today, a large portion of the population not only knows what NFTs are, but also engages in NFT trading. The ability to trade NFTs has created cases for NFT buyers to resell them, such as when the NFT buyer finds his NFT no longer attractive.
To engage in NFT trading, users need an easy-to-use and reliable platform with great features. In addition, there are several of his NFT marketplaces that offer different features such as selling NFTs, and there are certain marketplaces where new works of art can be found. Binance NFT Marketplace is one of the famous platforms where sellers and buyers can trade his NFTs of choice and has grown to be one of the largest and fastest platforms for NFT sales.
Below are some reasons why the Binance NFT Marketplace is so popular among the NFT community. Read below for more information.
5 Reasons Binance NFT Marketplace is Preferred for Selling NFTs
Binance charges the lowest fees in the market compared to other markets where fees can skyrocket up to 7.5%. Binance NFT Marketplace’s flat fee of just 1% allows NFT sellers to get better returns on their assets. If you are the seller, you only need to pay the creator her 1% royalties.
Easy deposit function
Binance allows users to quickly deposit and sell NFTs from other networks on the market, but only fully integrated NFT contract addresses are accepted. This means that a user cannot deposit her NFTs using a smart contract address that has not been approved through Binance.
However, Binance has announced that it will continue to update and expand its approved smart contract list.
Quickly withdraw fiat currency
Binance provides an easy and fast way to withdraw fiat from the NFT Marketplace. The user does not need to take any additional steps, he can simply use his existing account and Binance wallet to trade on the Binance NFT Marketplace.
After a successful NFT sale, users are free to convert the proceeds into available fiat currency pairs for cash. There are multiple options to withdraw fiat, and users can withdraw via card withdrawal to get fiat in GBP, EUR, UAH, and RUB.
Additionally, there is the ability to cash out through Advcash, SettlePay, and GeoPay third-party payment mechanisms.
binance mobile app
The Binance Mobile App gives you access to the Binance NFT Marketplace, which is automatically linked to your user account and wallet. The mobile app is easy to use and offers all the functionality offered in the web version that allows you to list your NFTs in a few simple steps.
NFT ranking function
On the Binance NFT Marketplace, top performing NFTs, artists and merch are featured on ranking boards and featured on the homepage. Up-and-coming artists like this and their work get more exposure, while NFT collectors can easily spot ongoing trends and find the right pieces to buy.
This ranking mechanism also increases the chances of driving profitable sales, as NFT collectors can more accurately price property values using ranking boards.
Selling NFTs is not as simple as it seems. Because promotion and community engagement are two critical steps that drive successful sales. Binance regularly takes measures such as monthly features and upgrades to improve the user experience of buying and selling. You can find the Binance NFT Marketplace on Twitter and Instagram.of NFT Marketplace Experts lego route said that the NFT space revolves around the community, leading Binance to launch a community discussion space on Telegram.
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