Sending Crypto Using Your NFT Domain
Sending and receiving crypto has been relatively easy for those with an interest and understanding of crypto technology. With over 250,000 transactions every day, we can also easily see where the future of finance is going. But what if we told you there was an even easier way to process crypto transactions?
NFT domains are currently playing a significant role in the market and allowing users to change their crypto addresses, making them much more user-friendly and accessible to the general public.
Whether it’s receiving or sending crypto, we’ll tell you everything in this ultimate guide.
What are NFT Domains?
NFT domains (also called blockchain domains) are the future of the traditional domain system, as we can find online right now. NFT domains are decentralized, which means that the owner wholly owns it is once he purchases it.
Standard domains normally end in .com, .media, .net, and so on. But on the other hand, blockchain domains can end in .x, .wallet, .888, and .coin, among other extensions.
They have become an essential part of the crypto world as they are a way to personalize a crypto address, making it simple to send and receive crypto.
How are NFT Domains Beneficial to the Crypto World?
NFTs have been popular for several years for their technology and for artists and investors to make money out of the system. Naturally, there are other benefits to enjoy and facilitating crypto transactions, is one of the most notable.
When you buy an NFT domain, you receive a smart contract to verify you fully own it and, therefore, eliminate intermediaries. Blockchain domains are beneficial to the crypto world since users can send and receive crypto much easier and quicker than ever before.
So, to the question, are NFT domains worth it? the answer is a clear yes!
How to Send and Receive Crypto Using Your NFT Domain
Since the launch of NFT domains and their compatibility with the crypto platforms, sending and receiving cryptocurrencies has become effortless. Let’s go into the details step-by-step.
Open a Crypto Wallet
The first thing you should do to buy, sell, send, and receive crypto is open a wallet. If you happen to already have a crypto wallet, move on to the next point; if not, keep reading.
Opening a crypto wallet is very easy, and there are numerous ones on the market to choose from. The most popular ones are:
We recommend starting with Coinbase or MetaMask since they are the easiest to use. You will need a crypto wallet to buy your NFT domain, as it can only be purchased using Ethereum or Bitcoin.
Once you’ve opened your crypto wallet, you’re ready to buy your NFT domain on Cloudname. After carefully choosing your domain name and paying the gas fees, proceed to the next point.
Mint and Move Your NFT Domain to Your Crypto Wallet
In order to get full ownership of your NFT domain and to keep it safe, you’ll have to mint it and transfer it to your crypto wallet. To mint your domain on Polygon, head over to your profile on Cloudname and click on “Mint Your Domain on Polygon”.
After that, click on “add wallet” and insert your crypto address – you’ll be able to choose between different crypto wallets. Choose yours, sign in, and click on “Transfer Domain to Crypto Wallet”.
Once you’re done, you will be able to see your NFT domain in your wallet.
Sending Crypto to Your NFT Domain
You’re nearly ready to start receiving crypto with your NFT domain. Once you log into your crypto wallet, select “Receive Crypto” and choose your NFT domain. You can give that address to the recipients or send the QR code.
With Cloudname, you’ll have the option to receive numerous cryptocurrencies from Bitcoin to Ethereum and many others, and that is a much easier way to deal with these transactions.
Now that you’ve successfully set up your NFT domain and stored it in your crypto wallet, making transactions will be extremely simple. As mentioned above, when using Cloudname, you’ll be able to receive numerous different cryptocurrencies.