If you follow the cryptocurrency and altcoin markets closely, you’ve probably heard about Rarible by now. Rarible is the world’s first “community-owned NFT marketplace,” according to the company. Continue reading to learn everything there is to know about Rarible, including how to buy RARI token with crypto and how to use Rarible itself.
Rarible is a software system that enables digital artists and creators to produce and sell individual crypto assets that signify ownership in their work. Therefore, Rarible is both a marketplace for these goods and an Ethereum-based platform, a distributed network that enables trading without the use of middlemen. Furthermore, Rarible’s community-run platform architecture is powered by the RARI token, the world’s first governance token in the NFT industry.
Rarible is a marketplace that tries to connect consumers with sellers — usually content providers such as digital artists, model creators, or meme makers. Firstly, to convert their work into an NFT, creators must use the Rarible protocol to mint a currency. To do so, you need to fill out a website form with photographs and other information about your work, such as the list price. Secondly, the platform introduces the new token on the Ethereum blockchain. Finally, you can exchange NFTs between wallets using Rarible’s software, like other Ethereum currencies.
Rarible has numerous features that make it unique compared to other blockchain projects. Here are some of the most important elements that set it apart from the crowd:
Rarible users are motivated to engage in the NFT market because they earn RARI coins every time they sell or acquire NFTs. Moreover, RARI acts as a governance token in addition to its inherent worth, which may be traded for actual cash via USDT or ETH on a variety of DeFi protocols such as Uniswap. Furthermore, the RARI governance token has a total supply of 25,000,000 tokens divided as follows:
Rarible’s NFT marketplace was originally a non-custodial NFT minting system and marketplace open to the public. However, as the platform’s popularity grew, as did the number of users and investors, Rarible’s developers began working on making it a true DAO. Nevertheless, before that happens, users can vote on proposals, help administer the platform, and decide on the network’s future using Rarible’s native RARI token.
Rarible royalties, which are the ownership to future revenues within NFTs, can be programmed by digital producers. Thus, you can receive returns automatically by issuing a token if you use smart contracts to determine a proportion of future sales.
The following table mentions all the notable differences between Rarible and OpenSea:
|Services and Features||Rarible||OpenSea|
|Payment Options||ETH, FLOW, XTZ||150+ cryptocurrencies|
|Credit Card Payment||Yes||No|
|Royalty Fee||Up to 50%||10%|
You’ll need the services of decentralized exchanges to buy RARI in exchange for another coin that you own. Swapzone is among the most user-friendly decentralized exchanges, aggregating different platforms so that you can simply buy RARI token with any crypto coin you want. For the sake of simplicity, we’ll use ETH as an example.
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.