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What is Rarible
Rarible is an NFT marketplace for digital assets and unique collectibles. Users can create, trade, and manage their own digital assets on the platform. Rarible also allows users to mint unique tokens which represent their creations. These tokens are tradable and allow people to show ownership of the asset or item they created or collected.
The platform also has its own native utility token, RARI which serves as an incentive for users who contribute to the network’s growth by creating content, trading assets, curating collections, and more.
What is RARI
RARI is the governance token of the Rarible platform. It is used to give holders voting rights on all decisions taken within the DAO, as well as granting access to exclusive features and discounts. Holders of the RARI token can vote on proposals for network upgrades and new features, such as introducing new tokens or changing fees for certain services.
By holding the token, users have a say in how their experience with the platform evolves over time. Additionally, they can also benefit from lower fees when using certain services offered by Rarible. The token is also useful for staking, giving users an additional way to earn rewards while being actively engaged with the platform.
Is Rarible Safe?
Yes, it is one of the largest NFT marketplaces in DeFi and widely regarded to be the most secure as it has never once been subject to a cyber attack, unlike its popular competitor, OpenSea.
Rarible employs a number of security measures to ensure that users are as safe as possible when trading and holding tokens on the platform. These include using encryption protocols, two-factor authentication, and multi-signature wallets. Users can feel confident in their ability to safely trade NFTs and collectibles on Rarible.
Rarible Supported Crypto Wallets
Rarible has integrated with various secure crypto wallets, which means you have more options to store NFTs. These wallets include MetaMask, WalletConnect, Coinbase Wallet, Portis, Fortmatic, Torus, Phantom and many more. Each wallet provides its own security features to ensure your assets stay protected while trading on the platform. To see the full list of wallets, visit here.
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How to buy an NFT on Rarible
Below we will show you two different ways to buy an NFT on Rarible. The first will be how to buy NFT's using Ethereum and the latter will be how to buy NFT's using FIAT ($USD).
- Buy Ethereum from a trusted local exchange like Uphold and send ETH to your MetaMask or Web3 wallet.
- Connect Metamask to Rarible by clicking the profile button on the top right.
- Browse NFTs on the marketplace, approve Ethereum to transact and hit buy.
or
- Go to the explore page on Rarible and find the NFT you wish to purchase.
- Click buy and tap 'Add funds with Mastercard/Visa', and follow the prompts to buy the NFT.
Rarible vs Opensea Fees
If you compare Rarible vs OpenSea, you will notice Rarible does not charge a listing fee on its platform, unlike OpenSea. Rarible only takes 2.5% on the buyer side and 2.5% on the seller side from every sale on the marketplace. They simply take a flat rate of 2.5% and they offer free minting (creating/mining) of NFTs whereas other marketplaces would force you to cover all minting fees.
Final Thoughts
Rarible is a secure and user-friendly NFT platform that allows users to create, trade, and manage their own digital assets. It also has its own native token, RARI, which gives holders voting rights on proposals and access to exclusive features and discounts.
Users can feel confident in their ability to securely trade NFTs on the platform as it uses encryption protocols and other security measures. Additionally, various crypto wallets are supported for added convenience when trading NFTs. All of these factors make Rarible an extremely attractive option when looking for an NFT marketplace.
