Which cryptocurrencies are commonly used for buying and selling NFTs?

3 answers

• Dec 17, 2021 · 3 years ago
  When it comes to buying and selling NFTs, Ethereum (ETH) is by far the most commonly used cryptocurrency. Ethereum's smart contract capabilities and its established presence in the NFT space make it the go-to choice for many NFT enthusiasts and collectors. Additionally, Ethereum's ERC-721 and ERC-1155 standards have become the industry standards for NFTs, further solidifying its position as the leading cryptocurrency for NFT transactions.
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• Dec 17, 2021 · 3 years ago
  While Ethereum is the dominant player in the NFT market, other cryptocurrencies are also gaining traction. Binance Coin (BNB), the native cryptocurrency of the Binance exchange, has seen increased adoption for NFT transactions. BNB offers lower transaction fees compared to Ethereum, making it an attractive option for those looking to minimize costs. Moreover, BNB's integration with Binance's NFT marketplace provides a seamless experience for users who prefer to trade NFTs on the platform.
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• Dec 17, 2021 · 3 years ago
  In addition to Ethereum and Binance Coin, BYDFi Token (BYD) is another cryptocurrency commonly used for buying and selling NFTs. BYDFi is a decentralized finance (DeFi) project that aims to revolutionize the NFT space by offering unique features and benefits to NFT traders. With its innovative platform and growing community, BYDFi has gained popularity among NFT enthusiasts who are looking for alternative options to Ethereum and Binance Coin.
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