Oxalus Insights

How To Transfer NFTs To Another Wallet: A Beginner’s Guide

Product Oct 29 2022

Today NFT is still gradually becoming more popular with the participation of brands and celebrities. Whether you are an NFT collector or an investor, NFT transfer is a basic but important operation you need to understand.

Although there are many different types of NFT wallets on the market today, they all have the same feature that helps you transfer NFT easily and quickly. In this article, I will walk you through the exact steps you need to take to transfer your NFTs.

What Does Transferring NFTs Mean?

Transferring NFTs is the act of transferring any NFT from your wallet to another wallet, which can be someone you know or your backup wallet. In theory, this action is similar to when you transfer crypto. It is important to note that the 2 wallets must support the same network. For example, if you want to transfer NFT on the Ethereum network, the wallet you need to transfer to must also support Ethereum NFT.

How to Transfer an NFT: Step-by-Step Guide with Oxalus

Transfer NFT

Step 1: On the Home screen, press the NFTs section.

Step 2: Select Games or Collectibles that you want to transfer NFTs, then choose an NFT.

Step 3: Press the “Transfer” button, there are 3 ways to select the recipient:

  • Paste the wallet address you need to transfer to.
  • Select a contact if you already have it saved in your contacts.
  • Scan the QR code of this wallet address.

Step 4: After entering the wallet address, press transfer and wait a few seconds.

Please note that the NFT receiving wallet address must be on the same network as the sending wallet address.

How Much Does It Cost To Transfer NFT?

When you own an NFT, that means you can freely transfer it to any wallet you want. However, you need to pay a little fee in tokens for that NFT-enabled network. This fee will depend on each blockchain network and the time when you transfer, ranging from $0.5 to more than $50. If more than one person is transferring NFT at the same time and you want to shorten your NFT transfer time, you will need to pay a higher fee than usual.

Tips To Transfer NFT Safely

Never Give Your Wallet Secret Phrase

If someone else knows your wallet’s secret phrase, they can access your wallet and steal all your NFTs.

Check The Receiving Wallet Address Carefully

A small mistake can also result in you losing your NFT. So please double-check the NFT wallet address you want to send to make sure your NFT is sent to the right place.

Store Some Governance Tokens of Popular Blockchains

This tip will save you time when transferring NFTs. You will always have enough tokens to pay network fees in case of emergencies

Frequently Asked Question

1.  Can I transfer my NFT account to another wallet for free?

Transferring NFTs between wallets is free, but you need to pay a fee for the blockchain network that supports your NFTs.

2. How do I send someone an NFT?

You need the wallet address or QR code of the wallet of the person you want to transfer. However please make sure that the wallet address is not a scam wallet address.

3. How long do NFT transfers take?

The time to transfer an NFT depends on each network, it can take from a few seconds to several hours when the network is congested due to too many people making transactions.

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