Atomic hub wax wallet portable#
They say bridges to Polygon and Solana are coming soon as they progress along with their roadmap to becoming a truly portable and decentralised platform. This new bridge means NFTs can now be traded on WAX and the EOS mainnet. This has made the barrier to entry for NFTs much lower. The choice of EOSIO means they are able to offer a very low carbon approach with faster transactions and no gas fees. It was launched on a private EOSIO blockchain which means they are the only block producers. was originally created to be a new approach to social media but pivoted to become a platform for non-fungible tokens.
This will give users the ability to send Voice NFTs to Anchor Wallet on EOS and sell on the Atomic Hub. That’s the message from the NFT platform as its NFT bridge is now available on the EOS mainnet. Please consider using one of the marketplaces for most of your trades as it really benefits the ecosystems and is generally less susceptible for scams and frauds.LONDON (Bywire News) - The multichain is now a reality.
Atomic hub wax wallet how to#
You now know exactly how to safely trade using backed tokens and why this is the preferred method for some players. Just remember that paying fees ultimately helps all three parties to improve whatever they’re doing, which will benefit you as well in the long term. These are the circumstances, where people start searching for alternative ways to trade, and backing NFTs with WAX was a great alternative that saves you a whopping 12% in this case. With the 8% fee that they charge, users have to pay a total of 12% for a marketplace transaction.
For example, R-Planet has one of the highest collection fees. However, sometimes collections tend to go overboard with their collection fee. Most people agree to pay the tokenomics fee of 2% to the WAX blockchain, but also to pay the 2% fee to the marketplace so that they can continue to improve their platform. Are WAX-backed token trades ethical?įees are induced for a reason: a monetary reward in exchange for a service. So always double-check the collection is correct. Instead of rplanet the collection could be called rplanet1. Some scammers upload similar artworks and add the same details to an NFT, but it’s not the same verified collection.
Therefore, always look at the features of an NFT as shown in the following image. With a few Photoshop skills, they were able to trick people. Scammers saw an opportunity to scam people. Why you should be careful with WAX backed token trades Fake backed tokens The only thing you have to do now is select the WAX-backed token, double-check if the other players’ NFT is correct, and then select “Send trade offer”. It’s a good practice to go to the Atomic Hub market, click the orange button next to the search area, and sort it to “Price (Lowest)”. You better use a useless or cheap NFT because this NFT will be lost once burned. If you want to back a token with WAX, you first need an NFT to back. The collection fee depends on the percentage set by the particular collection from which you are purchasing the card. This is the fee that a marketplace like Atomic Hub charges to continue offering its services. This is the fee paid to WAX to improve the ecosystem. This is because the transaction costs can sometimes be high on marketplaces due to the following fees: People use WAX Backed Tokens to avoid transaction fees. Once you’ve added WAX tokens to an NFT, you can always add extra WAX tokens though. Make sure you never back WAX to an expensive NFT, as the WAX tokens can never be recovered unless the NFT is burned.
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