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Maximizing NFT Profits With FTX's Marketplace
Gas Free Mobile & Desktop Trading of Ethereum + Solana NFTs with FTX US
Welcome to The Drop NFT Newsletter. Subscribe and join the discord for breaking NFT news, project breakdowns, & artist spotlights. Thank you for following along on this journey!
🚨 This newsletter is sponsored by FTX:
FTX US is a regulated crypto exchange that hosts some of the highest amounts of trading volume and daily active users in the industry.
On top of this, FTX US offers desktop and mobile trading of Ethereum + Solana NFTs with NO GAS FEES! Start your FTX journey today by getting set up here 🔥
Maximizing NFT Profits and Improving User Experience
All investments inherently involve some level of risk. Those of us invested in NFTs and crypto are cognizant of this element of risk, but anticipate that it comes with the potential for great reward. Regardless of how long you’ve been exposed to the space, it’s natural to continuously look for ways to lessen risk and increase profit. We had the opportunity to have a conversation with the Head of Strategy at FTX US, to talk about some of the products being offered for FTX US users to decrease overall costs, increase security, and boost the overall user experience.
Buying an NFT
FTX started as a crypto exchange in 2019, and they are rapidly expanding! But what sets them apart? This platform makes trading simple, offering products that provide users with the most trouble-free crypto experience. If you have ever purchased an NFT (assuming most reading this have, or have at least tried) you understand the agony of the lengthy process. The process of buying and selling an NFT usually goes something like this:
Many of us are now accustomed to this lengthy process, without realizing there is an easier way. The same process with FTX looks something like this:
(That’s it!) When you set up an account with FTX US, you gain access to a platform that operates at the exchange, hot wallet, and NFT marketplace - ALL IN ONE. And to make things even better, the FTX US NFT Marketplace is one of the only multi-chain marketplaces in the world. This means users have the ability to track all of their NFTs in one place— whether it be Solana or Ethereum based NFTs. Additionally, users can purchase NFTs in their currency of choice, without the hassle and lengthy process. This means you can buy an NFT with credit or your choice of crypto, providing great optionality in an otherwise monolithic market. All of these NFTs are held in a custodial wallet, (which can be transferred to a non-custodial wallet at any time) to improve the user experience, increase security, and decrease costs. P.S. FTX has never been hacked. Next, let’s talk about how they are decreasing costs.
Decreasing Fees to Maximize Profits
Low fee trading should be one of the highest priorities for traders who wan to retain their balances. Chances are, if you’re using any other marketplace or exchange, you are paying exorbitant fees (as well as suffering through a severely over-complicated process). Exchange fees and gas fees are two of the biggest factors that will eat into your profits. FTX is putting significant pressure onto their competitors, and saving users hundreds (if not thousands) of dollars on trades. But let’s break this down. Say FTX and Opensea have an NFT listed from the same collection, both for a price of 1 ETH ($2,500). Here’s the cost breakdown:*fees vary based on ETH gas prices at the time of mint / listing / sale
Based on this actual market breakdown, OpenSea users are paying nearly double in fees every time they buy/mint, list, and sell an NFT on OpenSea. Additionally, when using a hot wallet such as Metamask to transact on these marketplaces, users will be required to send crypto back to an exchange in order to subsequently transfer the cashback to a bank account if they choose to liquidate. This will also incur additional transfer fees. Though these amounts may appear trivial for some, with a quick Etherscan search, I discovered that over the past 6 months, I’ve spent between $5k-7k in fees. Incessant fees add up QUICKLY, especially if you’re an active trader.
FTX US NFT Marketplace 🔥
These are a few of the many practical reasons we partner with FTX US. To have your crypto and NFT trading all under one seamless platform that is eliminating gas fees and decreasing costs, click here!
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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.
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