Why you should choose NFT instead of trading
If you’re new to the crypto world, or just have no clue what NFT (non-fungible token) means, we’ll explain it in brief first. Most coins are fungible tokens, which means that each unit of the coin has an equal value as another unit of the same coin. In other words, every Coin A has exactly the same value as another Coin A created by someone else on some other day and time in another location. NFTs are not fungible, because each token has its own unique properties or characteristics and value.
NFT is more Privacy than trading
When people trade on trading exchanges, their purchase and sale is usually recorded in a public ledger which can easily be traced back to them, especially if it’s through fiat money. On an exchange like OpenSea that allows users to transact using non-fungible tokens (NFT), however, there’s no way for third parties to determine who you are from your purchases. With decentralization comes privacy; as long as your ETH wallet address isn’t tied to your real identity or any information about yourself, your purchases will remain private. People often aren’t aware that when they trade crypto or other items through traditional channels, they are actually giving away their own information just by buying and selling – because these transactions are typically logged on a blockchain somewhere.
Easy Access of NFT
With traditional marketplaces, it’s tough to know whether prices are fair. After all, if I’m selling a hoverboard for $1,000 and someone offers me $900 for it, does that mean I made a good deal? Or does it mean that person is getting a deal? With NFTs, however, buyers and sellers can establish prices directly with each other. That means less uncertainty about whether your price is fair.
Flexibility of NFT
Whether you’re into gaming, building, writing or another creative pursuit, non-fungible tokens give creatives new ways to monetize and fund their projects. While each project can be customized with its own set of rules, most non-fungible tokens are cryptographically unique—and that uniqueness is what makes them so valuable. You see, if I have a cool idea for a game but don’t have any money to build it (or know how to code)
I can make my idea into a crypto asset and sell it on an exchange. The buyer gets full ownership of my idea — including all future profits made from selling my game — meaning it will only increase in value as time goes on. It also means other developers could work on top of my idea by creating derivative games based on mine without having to pay me anything more than they would have originally paid for just my original crypto asset. And because anyone could create games like these, ownership proves even more valuable since there’s an entire community built around games rather than just one instance.
Autonomy
When it comes to work, employees with autonomy experience more creativity and even self-esteem. Autonomy is also important because it gives workers a sense of ownership—you’re going to give your best when you feel like what you do actually matters. Some companies empower their employees by allowing them to choose how they get their job done—as long as those methods lead to results. You don’t have to be a business owner or executive in order to enjoy autonomy at work, but it certainly helps!
No Exchange Rates
The major exchanges are constantly adding new coins, and these currencies need to be on that exchange for a minimum amount of time before being listed. For example, if your coin has a market cap of $10M and is added to an exchange with a 1% volume fee (standard), it would cost around $100K per month in fees just to stay on that exchange. Additionally, not all exchanges have fiat options or local banking partners.
Returns are fixed
While there’s no guarantee that a person who invests in an ICO will see any sort of return on their investment, it’s important to note that there are fixed returns associated with non-fungible tokens (NFTs). If a token represents a piece of property—be it digital or physical—then its value is intrinsically tied to that property.
No Taxes on Gains
One great benefit of tax-free ETFs is that they don’t trigger capital gains taxes when you sell them. Capital gains taxes can be up to 20%—so not only do you keep more money in your pocket, but also save on expensive taxes.
No Capital Gains Tax / Income Tax (CGT/IT)
No capital gains tax or income tax is due on digital currencies. This means no taxes to pay if they appreciate in value, and none if they depreciate in value (which can happen). Compare that to traditional investments where when you sell there are fees and taxes.
Anonymity (if desired)
The anonymity provided by a non-fungible token allows individuals to enjoy all of their rights and freedoms in every economic transaction. This includes not only monetary transactions, but also physical goods or services—meaning one’s family and friends are not liable for debts created during these exchanges. If a person lends a friend some gas money or groceries, they don’t have to worry about being held accountable if that person is unable to repay them.