7 Reasons To Sell Your NFTs On Binance NFT Marketplace

Main Takeaways:

• Enjoy the lowest fees on Binance NFT, at only a flat 1% trading fee for all NFT sellers and creators.

• Deposit your favorite BNB Chain (former BSC) and ETH network NFTs and unlock access to a worldwide crypto community and the highest-liquidity market. 

• Buy and sell NFTs with low fees on Binance NFT, and enjoy easy cash out through our fiat gateways.

• Trade NFTs and access the Binance NFT Marketplace with the Binance mobile app anytime, anywhere.

Like sneaker, art or streetwear resellers, a large population of NFT users buys collections or assets for the sole purpose of reselling. On the other hand, sometimes the NFT is no longer appealing, and the holder wants to sell and move on to something more exciting. At Binance NFT, we provide an easy-to-use platform for anyone looking to sell their NFTs. 

Here are seven reasons why NFT collectors, traders, and more prefer Binance NFT – the official NFT Marketplace of Binance, as their go-to platform for NFT selling. Since its launch in June 2021, Binance NFT has become the world’s largest and fastest-growing centralized NFT marketplace, selling more than 3 million NFTs and exciting collaborations with popular celebrities, sports players and brands worldwide.

1. Industry-leading Liquidity and Volume

The term “volume” refers to the total quantity of NFTs traded during a given time, while “liquidity” refers to the speed with which an NFT asset can be bought or sold for its market price. 

With high volume and liquidity, Binance NFT sellers or creators can make fast and easy transactions, sell and trade on a grander scale and gain exposure to the largest crypto community in the world.

2. Lowest Fees

Binance NFT charges a flat 1% platform fee for all NFT sellers and creators. Compared to other marketplaces that collect up to 7.5% in fees, we provide the lowest fees in the market. In addition, sellers only need to pay a 1-10% royalty fee to the creator. Binance NFT’s attractive low fees allow NFT sellers to enjoy better returns on their assets. For further information please refer to NFT Transaction Fees.

3. Easy Deposits from the ETH and BNB Chain Networks

With our recent feature updates, NFT collectors can quickly deposit and sell NFTs from other networks on Binance NFT. However, there are some requirements to keep in mind. 

Binance only accepts NFT contract addresses fully integrated with the Binance NFT Marketplace. Users will not be able to deposit NFTs with non-approved smart contract addresses. Binance will continue to update and expand the approved smart contract list. You can visit our listing page or follow @TheBinanceNFT on Twitter for the latest updates. 

Please read the complete list of Binance NFT Supported Contract Addresses and Not Supported Contract Addresses on Binance.

Here is a short tutorial on how to connect your wallet:

Simply click [Deposit] to connect your wallet, and you’ll be able to select the NFTs from the collection you want to deposit. Click [Deposit Now], and you’re done!

Once the deposit is confirmed, users can find and list their deposited NFTs for sale in their Profile via Collected NFTs. For detailed steps and further information, please refer to the How to Deposit NFT FAQ.

4. Quick Fiat Cash Out

We provide a quick, easy and secure way to cash out to Binance from the NFT Marketplace. All Binance users can use their existing accounts and Binance wallets to trade on Binance NFT Marketplace — with no extra steps required. 

How to trade proceeds to fiat currencies on Spot

After a successful NFT sale, users can exchange their proceeds into available fiat pairs to cash out. For more detailed information on how to trade your proceeds for fiat currencies on Spot, you can follow our step-by-step guide.

How to Withdraw Fiat via Card Withdrawal

Users can also withdraw via card withdrawal and get fiat — please refer to our guides How to Use Instant Card Withdrawals and the List of Supported Issuing Countries for EUR or GBP Withdrawal.

How to Withdraw via Bank Transfer

To withdraw via Bank transfer, please find a detailed guide here – How to Withdraw USD via SWIFT. 

For BRL or local BRL bank transfer, please refer to our guides – Frequently Asked Questions on Brazilian Reals (BRL) Bank Transfer and How to Withdraw BRL from Binance.

Cash Out via Third Party Payments

Third-party payments are available for Advcash, SettlePay, GeoPay. Please refer to relevant guides for the corresponding market here.

5. Access NFTs on the go with Binance Mobile App

The Binance NFT Marketplace is automatically linked to your user account and wallet on the Binance mobile app. When using the Binance mobile app, click [More] on the homepage. Under Trade, click [Binance NFT] to access the Binance NFT Mini App. You can also use the Progressive Web App (PWA) to easily make NFT purchases across different devices.

6. Ranking feature

Binance NFT spotlights the top-performing NFT collections on the homepage, and the most popular NFT collections, NFTs, Mystery Boxes, and creators on the ranking boards under Stats. Artists and their collections get more exposure, while collectors can easily find new and trending pieces to grow their collections. The ranking boards also enable collectors to assess better and price their asset value more accurately, increasing the chances of a more profitable sale.

7. Simple Token Conversions              

Holders on Binance NFT can easily convert NFT crypto profits to their preferred token or product on the Binance ecosystem. The Binance ecosystem provides various features that meet different crypto goals. Cash out your profits, send them anywhere globally, or subscribe to an Earn product and generate crypto rewards and much more.

Closing Thoughts

The NFT space is all about community. Once your NFT is listed on a marketplace, promotion and community engagement is a vital step. For more tips on connecting and engaging with your community, read our guide to NFT advertising.

As a marketplace, we regularly launch monthly features upgrades that improve users’ buying and selling experience on Binance NFT. Join our Binance NFT Community on Telegram or follow Binance NFT on Twitter and Instagram for the latest news and updates. 

Read the following helpful articles for more information:

• (Support) How to Get Started on Binance to Trade Binance NFTs

• (Support) How to Sell NFTs on Binance NFT Marketplace

• (Blog) How To Sell Gaming NFTs & Cash Out Crypto Via Fiat

• (Blog) Binance NFT Feature Update: Deposit Your NFTs from ETH & BNB Chain Networks

• (Blog) How Binance NFT is Building The No.1 Gaming Metaverse

This article was last updated on January 17, 2023.