![]() ![]() This does naturally extend to other projects that the company may have - if you see that some service is owned or run by Binance, you do automatically assume a certain level of trustworthiness, too. ![]() We’ll cover the fee and liquidity aspects a bit later on in the guide, but another point that’s surely worth considering is the recognition that Binance has managed to accumulate over the years, and how it transfers to the NFT market side of the platform.īinance has earned the respect and trust of millions of different users worldwide. Both aspects are super-important for anyone who’s planning on trading NFTs with the intention of making a profit, or simply wants to avoid the high gas fees associated with Ethereum. In short, your non-fungible trading experience should be much safer, in the broad sense of the term!įollowing that, the centralized nature of the Binance NFT market allows it to possess some of the best fees and liquidity. This is because the trading processes aren’t anonymous - every creator, buyer, and seller of a specific NFT has submitted their identity-proving documents to Binance before entering the marketplace in question. There are certain benefits associated with this very fact, too.įor starters, Binance is able to eliminate a huge number of malicious players from the field. Unlike many other competitor projects, Binance offers its users the chance to trade NFTs in a centralized manner, having passed all of the “ Know Your Customers” processes ( in other words, having verified your identity). ![]() The last part - the creation of NFTs - is still a bit tricky, but we’ll get to that in due time. The Binance NFT market is a centralized platform where you can sell, buy, and create different non-fungible tokens. It’s a very popular place to store and keep your NFTs in, which does tie in perfectly with the marketplace itself, too. There’s also a Binance-owned wallet associated with the aforementioned exchange - the Binance Wallet. Most individuals know it as a cryptocurrency and token exchange - it’s one of the largest ( if not *the* largest) crypto exchanges on the market! As mentioned in the beginning part of the guide, Binance is a very well-known name in the crypto industry. ![]()
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