There are a variety of NFT Marketplace websites on the internet. With so many NFT marketplaces, it’s natural for beginners to be hesitant. In this article, we aimed to provide you with a guide explaining what you should pay attention to when purchasing or selling NFT, rather than giving you the name of the website.
Transaction volume is important
Before deciding on your platform choice for buying and selling NFTs, you need to examine whether the marketplace has sufficient transaction volume for your collections. If the platform does not have sufficient transaction volume, listing your NFT here will not be sufficient for sale.
Review security policies
Unfortunately, there are great risks in the virtual world for every technology and platform. It is possible with the security measures and risk management implemented to eliminate risks. For this reason, the importance the platform attaches to security and how it will manage or compensate for a possible threat should be taken into consideration.
Commission rates
The marketplaces I mentioned above apply different commission rates for buying and selling transactions, and this rate varies in a wide range from 2.5% to 15% for each NFT. Before deciding on the platform and making your choice, you must have information about the rates.
Transaction fees
Another concept related to the NFT issue is gas fees. Before NFTs can be bought or sold, transactions must be processed on the blockchain. This requires payment of transaction fees depending on the blockchains supported by the platform in question. For example, on some blockchain networks such as Ethereum, gas fees of up to $100 per transaction may occur. When we consider NFT as an investment tool, it is extremely important to take into account transaction fees as they will be a significant expense item.
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