Binance NFT: Top Crypto Exchange & Leading NFT Marketplace


To buy and sell Binance NFT you must pay a trading fee of 1% of the transaction value to the platform that acts as an NFT marketplace. The platform deals in NFTs belonging to the Premium category, sports, gaming, art, entertainment, collectibles, and charitable.  Besides its own Binance coin (BNB), Binance accepts a wide range of cryptocurrencies such as Bitcoin, Ethereum, Polygon, Dogecoin, Solana, ShibaInu, TRON, Litecoin, and Lisk. Binance’s trading fee is the lowest in the market and coupled with the acceptance of a diverse range of cryptos, Binance is the largest online exchange in terms of volume. Binance offers a lot of flexibility to users, which is another reason for its popularity. Knowing how to add Binance smart chain to Metamaskensures a lot of flexibility.  In a few easy steps that you can learn from the internet, you can access Binance smart chain Metamask.

What is Binance NFT?

It’s not any NFT but the name of an online marketplace for transacting NFTs which are tokenized versions of real-world or digital assets. Binance users can buy and sell NFTs on the platform which is one of the most popular cryptocurrency exchanges in the world.  Ethereum users can actively buy and sell NFT on Binance by knowing how to add Binance smart chain to Metamask, the wallet meant for Ethereum users.  Linking Metamask to the Binance chain walletgives ready access to NFTs on the Binance platform.  By the same principle, you can use Binance Dogecoin for NFT transactions.

Which should you choose – Binance or Coinbase

You might face a dilemma when choosing between Coinbase and Binance as both are highly popular cryptocurrency exchanges. Knowing a bit about the ongoing Binance vs. Coinbase debate can help to ease the selection. Beginners would be comfortable starting their crypto journey with Coinbase, the US-based exchange that provides good support to beginners because of the simple user-friendly design. However, the exchange offers limited transaction types. Binance is for advanced users as it has a steep learning curve and provides hundreds of trading options to international crypto traders. Senior crypto traders use Binance APIto facilitate crypto trading.

What isthe Binance referral code?

To attract new users and retain existing users Binance deploys the well-known marketing strategy of luring users by offering a discount for transacting on the exchange by using the Binance referral code. For example, by applying the referral code FLE5KN9K you can earn an unlimited discount on trading fees. Moreover, you can share the referral code with friends to earn a bonus over and above unlimited discounts on trading fees.

Binance is facing rough weather in the UK

Binance entered the UK market in 2020, the year of the pandemic by launching Binance UK operated by Binance Markets Ltd. Binance UK facilitates trading in cryptocurrencies against fiat-currencies for residents of the UK and Europe. However, The UK experience of Binance has been far from pleasant because FCA Binance Binancetimeshas been a thorn in the flesh. The Financial Conduct Authority (FCA) which is one of the world’s leading financial regulators flagged the Binance operations and considered that the platform posed a significant risk to consumers. 

Having a Binance account is necessary to access Binance NFT.  Opening a Binance account is easy but the account opening time can vary as it depends on the time taken to complete the verification process. How long does Binance verification take is an oft-asked question. It can vary between 2-10 days to complete the verification process and receive a Verified badge. However, if you want to avail of more transaction privileges that come with the Verified Plus badge then it can take three to ten days for the completion of verification.

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