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Using the FTX.us NFT Marketplace: How to Deposit & Mint NFTs

FTX.us is a U.S. regulated cryptocurrency exchange, that offers its users, not only maybe the most solid platform to trade any of the 250 traditional cryptos, fiat currency, or wire transfers.

The great news is that now you can buy, sell and mint your own NFTs on FTX.us Marketplace as well.

When you go to the FTX.us NFT Marketplace website, you can already see all the NFTs that have been listed including Degenerate Ape Academy, Eitbit Ape, Sollamas, Solamanders, Red Panda Squad, or Galactic Gekko Space Garage, among others.

Of course, you can buy and sell, but the extra feature of auctioning off changes the game completely. You can set a buy now price, along with an initial bid floor price and an expiring time frame, without those Solana´s fees.

FTX Security

FTX uses a password, plus the Two Factor Authentification (2FA) and a seperate password for withdrawals. The 24h lock, when changing the password or 2FA removal, that the platform has developed by default is another extra security feature.

FTX.us will also notify the user by mail of any unusual login attempts. As if that weren’t enough, the user can pre-set the IP addresses allowed. Still, large withdrawals and/or suspicious deposits will have to go through a manual human review.

Low maker fees (0.02%) and low taker fees (0.07%), a lifetime 5% discount in trading fees, and its increased scalability help make this platform very attractive to common users.

Getting Started with NFTs

An NFT is a non-fungible token that you can buy, sell, and hold. Unlike most existing cryptocurrencies in the crypto space, NFT is typically indivisible meaning it may not be fungible with any other tokens.

Because values associated with NFTs can change rapidly, FTX.us will not offer refunds on NFTs. As so, you are advised to only purchase items that you are comfortable enjoying for their artistic value.

  • First of all, you will need to go to www.ftx.us/home/, register, and create an account. Now you´ll want to enable the 2FA, by clicking on profile and settings (top right).
  • From the Security tag, you will access the 2FA, to enable it with your Google Authenticator.
  • On level 1 you input your data, and you are already authorized to make deposits and daily withdrawals. Up to 10K U$D.
  • If you want to use your credit card, have unlimited withdrawals or U$D deposits, you´ll have to upgrade security to level 2.
  • Now you click on the Wallet tag (up left) and you´ll get an overview list, of all of your balances on your account.
Some of the NFTs on the marketplace
Some of the NFTs on the marketplace

NFTs on FTX.us

The NFTs can be bidded upon or purchased instantly. You can hold your NFTs in your NFT gallery on FTX.us and withdraw them to your Web3 Wallet. Moreover, you can also mint your own NFT and subject some fees to that.

How to Deposit NFTs to FTX.us

To deposit U$D, choose from the stable coins options, an ACH bank account, or credit card or wire if you have a level 2 verification status. For any other crypto coin, you just click on it and choose the address of the desired network.

Now that you have funds deposited on your account, you can go to NFTs on the top right again, and explore. All collections or a specific one can be accessed.

With all the necessary information about them. Some are offered in Ethereum, some in Solana or U$D.

The options are to buy now, and/or place a bid, to get the chance to get them for less. If the NFT you desire is in a different currency than your wallet´s, you just go back to it and hit convert without cost. Your purchased NFT will become visible on your wallet.

  • To deposit your Solana NFT to your FTX.us NFT Wallet, you will need to go to your NFT Wallet and click ‘Deposit Solana NFTs’, then copy the address and head to your Solana NFT wallet of choice.
  • Also in there, click the NFT you want to deposit then click ‘Send’, input the wallet address generated in the previous step into the ‘Recipient’s SOL address’ field and then click ‘Send’ again.
  • When you want to deposit Ethereum NFTs, the steps also are similar to depositing Solana NFTs.
  • You will need to go to your NFT Wallet and click ‘Deposit Ethereum NFTs’, copy the address and head to your ETH NFT wallet of choice, click the NFT you want to deposit, click ‘Send’, and input the wallet address generated into the ‘Recipient’s ETH address’ field and then click ‘Send’ again to finish.

How to Mint NFTs on FTX.us

  • For minting your own NFT, you have to go back to the FTX homepage, and click on the MINT/LIST YOUR OWN NFTs tag to take you to the List NFTs page.
  • Now you fill in some of your NFT´s item details such as the name of the issuer, the name of the collection, a description of this specific item, or the attribute of your NFT.
  • After completing all of the fields, it’s ready to upload and set the bearings for the buyers by selecting ‘Choose File’. Auction´s initial price, time frame, and buy now´s price. Feel free to modify any of the indications with no cost, on the Trade Options button.
  • Bidding, winning the auction, and placing it to auction again is an interesting possibility to make a profit too. Stating last-minute bids near the deadlines is a way of making sure you get the lowest prices.
  • In addition, it should be noted that all NFT submissions are subject to a non-refundable $3 submission fee and the process will take at least 72 hours for the FTX.us team to review and approve your NFT submission.

How to Withdraw Solana NFTs from FTX.us

You must be logged in and own the NFT to withdraw it. There’s the “Withdraw NFT to Solana” button for you to select the specific NFT. All you will do is simply click the button to implement your withdrawal order.

FTX.us will charge a 2% fee to the seller on each sale or trade, and $1 to mint/list your own NFTs.

In addition, the exchange will deduct a percentage from the seller’s proceeds for royalties, to be paid to the creators according to the specification on the NFT metadata which is capped at a max rate of 40%.

Royalties will be sent to the creators about every two weeks.

FTX.us NFT Marketplace

NFTs have been an emerging medium that is actively being explored by not only investors but also art collectors.

FTX.us is not only a place where you can trade the common cryptocurrencies such as Bitcoin, Ethereum, Solana, or Doge at low fees but also a place where you purchase or create NFTs in just a few clicks.

Whether you’re looking to buy a limited edition art piece from your favorite artist or simply just enjoy the art, FTX.us may meet your demands!

The post Using the FTX.us NFT Marketplace: How to Deposit & Mint NFTs appeared first on Blockonomi.

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