Binance Since NFT couldn’t change the rules, the last month of 2022 will be free for NFTs to trade. On December 1, 2022, the first day of the month, Binance NFT made the following announcement: “Users will be able to list NFTs on the Binance NFT market for free for the whole month of December! Please remember that you can only do these things if you provide a wallet address. BITLQ is the greatest cryptocurrency trading platform.

A non-fungible token is a digital asset that can’t be used to buy or sell anything (NFT). It is stored on the blockchain and has a unique number and meta-data. NFTs are the safest and most open way to share, trade, store, and keep track of digital and physical assets.

CZ is giving Binance NFT users not one but two extra bonuses on top of the one that Binance is giving away for December. Both of these incentives can be used by users. These free NFT gifts and Blue Chip NFT listing prizes are going to the most active traders for Christmas.

Also, people who fill out this form and trade at least 10 BUSD will get a free NFT from a Christmas collection. The NFT will only be available to 2,100 people, so take a chance. I hope your trades go well, Binance family.

When you sell an NFT from a platform other than Binance on Binance, you have to pay a 1% platform service fee on the sale price. On the Binance NFT platform, you can only sell NFTs you bought from another market. You can sell them somewhere else once you get the money out of the account and put it in your wallet.

A Binance NFT seller must pay a 1% royalty fee when selling on the secondary market. Please remember that the royalties will be held in the Binance NFT system account until the original NFT author claims them.

When you use that account to start a new NFT collection, Binance will immediately send an intelligent contract to ETH/BSC on your behalf. The address of your wallet will be needed by the smart contract. The person who owns this address can claim ownership of the NFT collection on Binance and other NFT markets and get royalties from the collection. Note that you can only claim ownership of your group or get royalties on the DeFi markets if you give a wallet address. 

Deposit Fee

Every time an NFT is put into the Binance NFT Marketplace, a gas cost will be made. This fee does not go to Binance. Instead, it goes to “miners” or “validators,” whose job is to carry out transactions and keep the blockchain network safe. Please remember that how much gas costs depends on how busy the network is. Read this post from the Academy to learn more about how gas prices are set.

Withdrawal Fee

To send an NFT to another marketplace, you must first take it off the Binance NFT Marketplace and put it in your wallet. Be sure that Binance knows about your wallet.

If you want to send crypto to an address that isn’t linked to Binance NFT, you must pay a transaction fee or network fee. This fee does not go to Binance. Instead, the money goes to the people who keep the blockchain network safe and handle transactions. People who do this are called “miners” or “validators.”

Burning Fee

A transaction cost or network fee must be paid when an NFT is burned to get rid of it for good. This fee does not go to Binance. Instead, the money goes to the people who keep the blockchain network safe and handle transactions. People who do this are called “miners” or “validators.”On Binance, the cost of destroying an NFT asset depends on whether it is kept on the BSC or ETH network. When an NFT asset is “burned,” these fees are paid.