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Why Should I Use the Binance NFT Marketplace

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Non-fungible tokens (NFTs) have gained a lot of attention in recent times. In case you are looking to get into the NFT space and don’t know what marketplace to use, I highly recommend that you try Binance NFT. Ever since it was launched in June 2021, Binance NFT has become the world’s largest and fastest-growing centralised NFT marketplace because of its excellent features and ease of use. But before we talk about the Binance NFT marketplace, we’ll begin with a brief explanation of what NFTs are.

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WHAT IS AN NFT?

NFT means Non-Fungible Token. In Economics, fungibility means that an asset can be interchanged with other assets of the same kind because their values are equal. A non-fungible asset, however, is an asset which cannot be interchanged. 

An NFT as a unit of data stored on a blockchain that certifies a digital asset which is unique and cannot be interchanged. NFTs are varied and exist in different forms. They are unique digital assets, securely recorded on the blockchain, which represent ownership of real-world items like art, video clips, music, etc. 

The buying and selling of NFTs is at an all-time high. So, if you are looking to get into the NFT space or already are in the space, you definitely want to know where the best marketplace for NFTs is. Well, look no further than Binance NFT. 

THE BINANCE NFT MARKETPLACE 

Binance is the world’s largest crypto exchange by trading volume, with well over 90 million registered users worldwide. The Binance NFT Marketplace is a low-fee platform where users can create, buy and sell a range of NFT items. 

WHY SHOULD I USE THE BINANCE NFT MARKETPLACE

High Liquidity 

Liquidity is very important in any market. High liquidity means that you’ll be able to trade seamlessly without being left “holding the bag”. The Binance NFT marketplace has a very high liquidity meaning that your buy/sell orders get filled quicker. 

Easy to Use 

The Binance NFT marketplace is easy to navigate and use. This is particularly because everything is connected to the world’s largest exchange, Binance. You don’t have to go through any stress in getting your crypto and moving it into a third-party wallet because everything is connected to the Binance ecosystem where you can deposit fiat and convert it to crypto for your transactions. 

Low Fees

One of the perks of the market place is the low NFT minting fee. A set fee of just 1% is charged on every transaction. This is one of the lowest transaction fees you’ll find on any NFT marketplace. Users can also reduce the amount being paid as gas fees by using the Binance Smart Chain instead of the Ethereum network. 

Security 

Binance doesn’t joke with asset security. All account access requires two-factor authentication (2FA). 

Different Types of NFTs

Binance NFT offers a wide variety of NFTs to choose from. There are different categories, ranging from gaming to entertainment, sports and art. 

The Unique Mystery Box Feature

Binance has a unique mystery box feature which is not available on any other platform. A Mystery Box contains a surprise NFT that is only revealed when you open the box. These NFTs are grouped into Super Super Rare (SSR), Super Rare (SR), Rare (R), and Normal (N).

HOW TO BUY AND SELL ON THE BINANCE NFT MARKETPLACE

Buying and selling NFTs on Binance is as easy as N-F-T. Check out the following resources for guidelines:

GET STARTED TODAY! 

All you need to access the Binance NFT marketplace is a verified Binance account. You can create a Binance account for free. Verifying your account requires selfies, submitting personal information and valid government identification. 

Open a Binance account now: https://accounts.binance.me/en/register?ref=YA35VD1V 

Start trading NFTs today: https://www.binance.com/en/nft/home 

SOURCES

Reasons to sell your NFTs on Binance NFT Marketplace 

How to Buy and Sell NFTs with Cash on Binance NFT Marketplace 

How to Buy a Mystery Box on Binance NFT Marketplace

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