7/27/2023 0 Comments Nft art finance binanceIt's an incredibly simple process and one that takes just a few minutes. Voila! You have now gifted your friend or loved one an NFT. ![]() It is crucial to get all of your information correct here as you will not be able to change it once the purchase is complete. You can browse between categories, and there are plenty of filters you can apply via Marketplace to help you find the perfect NFT. Binance NFT only accepts BNB, BUSD, or ETH, so you will need to top up your account with one of these currencies. To do this, simply register for an account on Binance using your phone or email. So, how do you go about gifting one?īinance has made it incredibly easy to gift NFTs with just a few simple steps: Learn more: Binance Launches Binance NFT Mini App FeatureĪs you can tell, there truly is an NFT to suit every personality and occasion. Let's take a look at the different types of NFTs you can expect to find on Binance. Because Binance does not currently have a way to gift NFTs directly, the recipient will need to create their own account on the platform before they can receive the NFT. When purchasing an NFT as a gift, the main fees to note are the deposit and platform fees. A fee of 0.000001 BNB for each creation on the Binance Smart Chain goes to the Binance team and is used to upkeep the network and continue development. Minting fees apply to people who create new NFTs.On Binance, sellers need to pay between 1-10% of the total sale price to the creator. Royalty fees ensure that NFT creators receive a percentage of each transaction made on their artwork.The rates are taken from whichever blockchain you are withdrawing to and go toward paying miners' fees for that blockchain. Withdrawal fees are incurred when you remove NFTs from Binance.Platform fees apply to all purchases and sales.You can set this to your desired rate (within parameters). This is to prevent spam and maintain network health. Deposit fees, or gas fees, are incurred whenever you deposit an NFT onto the Binance platform.What You Need To Know Before Gifting an NFTīefore taking the leap and purchasing on Binance, it's important to note the unique Binance NFT fee system. They'll appreciate the unique experience NFTs offer, and you'll know that you're giving them something valuable and exciting.Įven if the NFT decreases in value (or flops altogether), you'll have given the recipient a unique digital experience that they can talk about and remember for years to come. If you're buying a gift for someone who has already been dabbling in stocks, crypto, and the like, an NFT could be the perfect next step for them. NFTs are perfect for your curious friends.This could be an artwork associated with a special memory or moment, or it could simply include a picture or symbol that reminds you of the person you're gifting it to. Since there are so many types of NFTs, it's possible to find one with sentimental value for the recipient. ![]() If you know someone who loves collecting things, an NFT could be the perfect gift for them. Just like physical objects, NFTs come in different shapes and sizes – but unlike physical objects, the scarcity of some NFTs makes them incredibly valuable. Gift your recipient an NFT, and you'll be opening up a whole new world for them to explore. NFTs haven't been around for very long, meaning they offer a unique and exciting experience that many people are yet to discover. There are plenty of reasons to gift NFTs: ![]() Would you gift someone a painting or sculpture? NFTs are simply digitized artworks that come with an authenticity certificate and all. If it helps, you can think of an NFT as a unique and valuable artwork. You may be wondering – why on earth would anyone want to gift an NFT, as opposed to something physical? The answer is simple: NFTs offer a unique, digital experience that the recipient can truly appreciate.
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