If you’re looking for place to start trading that offers an easy-to-use platform with a wide variety of tokens, Rarible is perfect for you! In this Rarible review, we’ll cover the basics of Rarible including its pros and cons, fee schedule, key features and more. Let’s get started!
Rarible At a Glance
| Blockchain | Ethereum |
| Fees | 2.5% |
| Services | Buying and selling |
| Wallet | MetaMask, Coinbase, Torus, and MyEtherWallet |
| Payment Method | Cryptocurrency |
| Platform | macOS, PC, iOS, android |
For crypto-focused investors that offers NFT creation, selling, and purchasing capabilities, Rarible is an ideal platform. It presents an excellent opportunity for earning extra income through NFT creations.
Pros and Cons | Rarible
| Pros | Cons |
| Non-custodial and open-source marketplace. | Doesn’t have a mobile app |
| Is user friendly and simple. | Extremely high gas fees. |
| Rarible is an ideal marketplace for crypto novices. | Customer support needs improvement. |
| Houses a large collection of NFTs | Faces intense competition |
| Credit card payment is available | |
| Buyers and sellers are rewarded with RARI tokens. |
Top Perks of Rarible
Here’s the top perks that you need to know about the platform. Let’s have a look!
Easy to Use Platform
Rarible’s platform is perfect for beginners because it’s so easy to use. Just connect your crypto wallet, and you can start buying and selling non-fungible tokens without any hassle. You can also browse through various non-fungible tokens by using filters. Although you can pay with a credit card, keep in mind that there are cheaper ways to get crypto.
Support Several Different Blockchains
Ethereum is the top choice for non-fungible tokens, but it has expensive fees for transactions. Rarible knows this and supports four other blockchains. They’re even planning to add more in the future. So, if you want to avoid high fees, you can use Polygon (MATIC), Tezos (XTZ), or Flow (FLOW) on Rarible’s platform.
Multi-Wallet Connection
Having lots of different wallets and networks for your digital assets can be really annoying. But don’t worry, Rarible has a solution! They offer “multi-wallet support”. This means you can link up to 20 wallets to one account on Rarible.
Creator and Collector Validation
Rarible checks many users everyday to make sure they are trustworthy. If they pass the check, they get a special yellow checkmark on their profile, so people can easily see them on the site. But remember, the checkmark doesn’t mean everything they do is true; it just gives us more confidence in their reliability.
Fees
Rarible take a small fee 2.5% from both the buyer and the seller. Artists also get a share 5% to 10% when their item is sold. But there’s an extra fee called blockchain fee. It’s like a toll you pay for using the platform, and the amount you pay depends on the blockchain network you use. Ethereum is the most popular, but it can have higher fees.
Here are some Ethereum gas fee for various transactions:
| Transaction | Approximate dollar cost |
| Burn/transfer | Around $10 |
| Accept a bid | Over $100 |
| Buy an NFT | Around $90 |
Payment Methods
Rarible accept both cryptocurrencies and credit cards. But no matter which option you choose, you’ll need a crypto wallet to use Rarible. The cryptocurrencies available for payment depend on the blockchain network you use such as ETH, FLOW, XTZ, or MATIC.
