OpenSea is the first and largest NFT marketplace in the world, where you can find all varieties of digital assets. Apart from the digital assets, you can also get collectibles, fancy items, and digital representation of the physical assets. In simpler words, OpenSea is like online shopping especially made for millions of NFTs under hundreds of categories.
On your first visit to OpenSea, you may be a little surprised and confused about choosing NFTs. So as a beginner, start searching for things you are aware of, like in-game assets, digital assets, and less-priced NFTs.
Considering the NFT trading volume, OpenSea holds the first position. To overcome the high gas fee and low transaction speed of Ethereum, they use the Polygon and the Klaytn. On Rarible, it allows their customers to connect their non-custodial wallets. It means that the platform is decentralized, and no third party is involved in transactions.
All your NFTs are stored on the blockchain, and for convenience, they will be displayed on your account in Rarible. You can track all your NFT transactions performed on the platform with a few steps.
Whether you’re an NFT creator, collector, or follower, it’s essential to know how to transfer your NFT from one wallet to another. The need to transfer your NFTs may vary with each other. This article discusses the four main steps to transfer your NFT from wallet to wallet. The steps are easy to follow, and transferring can be done without any problems.
How To Transfer Your NFT
Follow the below given simple steps to transfer your NFT to another wallet or ENS.
- Initially, get into the required wallet, from where you are going to transfer your NFT. It may be OpenSea or Metamask, and select the NFT for transfer and click Send.
- Enter the public wallet address where you want to transfer the selected NFT.
- Next, you have to pay the transaction fee.
- Then, you can verify your transfer on Etherscan.io.
These are the instructions of general steps to transfer your NFT from one wallet to another. Concerning your platform ( Metamask, OpenSea, etc.), from where you are going to transfer your NFT, the instructions may or may not be similar. However, the goal of transferring can be attained safely. This article focused on the OpenSea platform. From there, we are transferring our NFTs to the recipient’s wallet address.
Step 1: Get into the Account and Select the NFT you want to Transfer
As an OpenSea user, go to your account and choose which NFT you want to transfer. At the top right corner, you can find the transfer icon. Click on it to start the transfer.
Step 2: Enter The Recipient’s Wallet Address or ENS
After selecting the NFT you want to transfer, you are required to enter the recipient’s wallet address or the ENS. ENS- Ethereum Name Service, like DNS ( Domain Name System ), is made for crypto and used on Web 2.0. The wallet address starts with 0x, and if it is ENS, it ends with .eth.
Step 3: Pay the Transaction Fee
After verifying the recipients’ address, you are required to pay the transaction fee. It may cost anywhere from 50¢ to $15.00 as a fee to transfer your NFTs. You can choose either slow or fast transactions. If you want to spend less amount as a fee, choose the slow transaction. With a little more amount, you can go with fast transactions. It only varies with the time for transferring and not compromising with the safety.
Depending on your selection, the transaction speed may vary. So don’t get confused; it can take several minutes to complete the transfer. For confirmation of transfer, you will receive a notification.
Step 4: Use Etherscan to verify your transfer
In Etherscan.io, you can verify whether your transfer is complete or not. You can also view it by the Activity tab present on your wallet account. There you can find all the recent activities. Select the required transaction to verify and then select View on Etherscan. With this, you can find all the transaction details with the Ethereum Blockchain Explorer.
If the status looks green, the transaction has been successfully completed. It’s always recommended to double-check your transferring status. Using Etherscan, you can check the status of transfer with a timestamp, fees, recipient address, or ETH value.
Guidelines for Safely Transferring your NFTs
In general, transferring your NFT will be completed without any issues. Moreover, there are certain considerations or guidelines you must be aware of to get an as safe and secure transfer as possible.
Make sure you’re following the guidelines given below:
- Don’t share your wallet seed phrase:
If you provide your seed phrase to anyone, they can easily access your wallet. Never give your seed phrase or any other information with respect to your wallet. To know more about this, you can read Securely Storing Your NFTs.
- Double-check with the recipient address you are sending:
You have to always check whether you are entering the correct address where you want to transfer your NFT. If you transferred to the wrong address, there is no way to get back your NFT. It’s possible only if the recipient sends your NFT back.
- Go with the Fast Transaction option when sending an NFT:
It’s advisable to choose the Fast transaction option; it requires a little more amount from the slow transaction. However, the transaction will be done successfully on either option. Go with the Fast transaction option for the best and fast results and confirmation.
- Unless receiving the payment, Don’t send your NFTs:
If you are expecting payment in return for sending an NFT to other users, it’s a good way to receive the payment to your wallet before the transfer. Always make sure with the currency type and payment amount which is received in your wallet before transferring your non-fungible token to others.
Transferring your NFT from one wallet to another should be carried out with care. If any mistakes happen, it leads to a huge loss for you. Transferring may happen, if you want to send your NFT to your friends or clients? If you want to transfer yourselves from one wallet to another. The reasons may vary but the goal is to transfer it safely. We have mentioned the four steps to transfer and verify the status of transferring your NFT to another wallet. Moreover, we have mentioned the safety guidelines to follow for securing your wallet and NFTs you own.