How to Transfer NFT from OpenSea to Another Wallet?

What Is NFT Transfer?

Simply put, NFT transfer means changing the ownership of an NFT asset from one digital wallet to another. You probably know that NFTs are unique digital assets verified on a blockchain network for maximum security and transparency.

If you’re new to the crypto sphere, learn more about NFTs in the article named “What is an NFT?”.

As mentioned above, transferring NFTs means changing ownership, but why should we transfer NFTs?

Why Should We Transfer NFTs?

We may need to transfer NFTs for the following reasons.

• Selling: When you sell an NFT you own, you'll need to transfer ownership to the buyer's wallet.
• Gifting: If you’d like to give an NFT to someone as a gift, you need to transfer its ownership to the person receiving it.
• Security: Sometimes, for security reasons, i.e., you may want to transfer the NFT to a more secure wallet.
• Portfolio Management: Transferring NFTs among wallets you own is a way to organise and manage your digital asset portfolio.
• Moving to a New Platform: When an NFT owner moves to a new NFT marketplace or platform, they have to transfer the NFTs to a new wallet compatible with the new platform.

Before transferring the NFTs, you need to consider several factors, which we’ll elaborate on in the following section.

Read More: What Are Blockchain Wallets And How To Use Them?

Factors to Consider Before NFT Transfer

To ensure a smooth and successful transaction, you need to consider the factors below.

• Compatibility: The wallet you're transferring to must be compatible with the blockchain on which the NFT was issued. For example, if the NFT was issued on the Ethereum blockchain, you'll need a wallet that supports Ethereum-based tokens.
• Fees: Transferring NFTs will cost some gas fees you need to pay before the transfer is executed.
• Security: Make sure the wallet you're transferring to is safe, and you trust the recipient. NFT transfer is irrevocable, and when it’s done, you can never take the NFTs back.
• Ownership Verification: You need to verify that you’re the owner and have the right to transfer it. To ensure you have these rights, you can check the ownership records on the blockchain.
• Timing: to avoid delays or more gas fees, check the transfer timing, as blockchain networks can be busy and slow during peak periods.

As mentioned above, NFT transfer entails gas fees, but is there a way to dodge the fees?

Learn More: The Ultimate List Of Free NFT Wallets For 2023: Which One Is The Best?

How to Transfer NFT without Gas Fees?

Unfortunately, you can’t avoid paying the NFT transfer gas fee, as these fees are paid to miners on the blockchain to process and verify the transaction.

NFT transfer is a complex and resource-intensive process, so gas fees are necessary to incentivise and compensate miners for their work.

However, we can take some measures to minimise NFT transfer gas fees:

• Choose The Best Time: Network load and demand affect the gas fee you must pay. To minimise gas fees, try to transfer your NFT when the network is not congested, and the activity is low.
• Choose a Low Gas Price: When transferring an NFT, you can choose the gas price you want to pay. More gas fees result in a faster transfer, so if you can wait longer, you can choose to pay lower overall gas fees. Learn more about Ethereum Gas.
• Use a Decentralised Exchange (DEX): Some DEXes charge lower gas fees, but using them is usually riskier, so research before using them.

Now that we know the basics let’s learn how the transfer process works and how to transfer NFT from OpenSea to another wallet. 

How to Transfer NFT Between OpenSea and Coinbase?

To Transfer an NFT between OpenSea and Coinbase, you only need to take the following steps.

How to Send NFT from OpenSea to Coinbase Wallet?

1. Make sure the NFT you want to transfer is in your OpenSea wallet. If it's not there, move it from your current wallet to your OpenSea wallet.
2. Log in to your Coinbase account and go to the "Portfolio" section.
3. Select the cryptocurrency (ETH, USDC, etc.) to pay the gas fees, and make sure to have enough funds in your Coinbase wallet.
4. Click "Send" in your Coinbase wallet and enter the receiver’s address, i.e., your OpenSea wallet address.
5. Enter the amount of cryptocurrency you want to send in the "Amount" section. Remember that it must also cover the gas fees.
6. Choose the gas fee, which is calculated based on the network activity and how quickly you want the transfer to be processed.
7. Double-check the transaction details, i.e., the address and gas fee, and click "Send". Remember that crypto transactions are irreversible, so make sure everything is correct.
8. As soon as the transaction is processed, you'll receive a confirmation message from Coinbase. You can also check your OpenSea wallet to see if the NFT has been transferred successfully.

Read More: The Best Crypto Wallet For Under 18: A Free Guide To Set Up Crypto Wallet For Child

How to Receive NFT from Coinbase Wallet?

Receiving an NFT in your Coinbase wallet, sent from your OpenSea or other wallets, is similar to the process above but in reverse. Let’s check the steps together.

1. Log in to your Coinbase account and go to the "Assets" section.
2. Find the cryptocurrency you want to receive the NFT in. It means if the NFT you’re receiving is based on Ethereum, you must choose Ethereum (ETH).
3. Click the "Receive" button next to the cryptocurrency to see the unique wallet address you can receive the NFT.
4. Copy the wallet address provided by Coinbase. Don’t write it yourself to avoid any mistakes.
5. Go to the wallet or platform where the NFT is currently located, and initiate a transfer of the NFT to the wallet address you copied from Coinbase.
6. Wait for the transaction confirmation, which may take some minutes based on the network activity load and gas fees.
7. As soon as the transaction is confirmed, the NFT will be credited to your Coinbase wallet. Go to your Coinbase "Portfolio" section and search for the NFT to check if the NFT has been received successfully.

How to Transfer NFT Between OpenSea and Metamask?

To transfer NFTs between OpenSea and Metamask, you must follow the easy steps below.

How to Send NFT from OpenSea to Metamask Wallet?

1. Make sure the NFT you want to send is in your OpenSea wallet. If not, transfer it from your current wallet to your OpenSea wallet.
2. Open your Metamask wallet and go to the menu by clicking on the three dots in the top right corner.
3. Select "Add Token" and click the "Custom Token" tab.
4. Enter the contract address, token symbol, and decimals for the NFT you want to transfer. You can find this information on the OpenSea marketplace or by searching for the NFT on Etherscan.
5. Click "Next" and "Add Tokens" to add the NFT to your Metamask wallet.
6. Then, click the "Send" button and enter the receiver’s address, i.e., your OpenSea wallet address.
7. Enter the amount of the NFT you want to transfer in the "Amount" section.
8. Choose the proper gas fee based on network congestion and transaction speed.
9. Double-check the transaction details, i.e., the receiver’s address and gas fee, and click "Next".
10. Click "Confirm" to complete the transfer.
11. When the transaction is completed, you'll receive a confirmation message from Metamask. By going to your OpenSea wallet, you can see if the NFT has been transferred successfully.

How to Receive NFT from Metamask Wallet?

To receive NFTs in your Metamask wallet, you must provide the sender with your Metamask wallet address. You can find your Metamask wallet address by following the steps below.

1. Open your Metamask wallet and go to the menu by clicking on the three dots in the top right corner.
2. Select "Copy Address to Clipboard" to copy the wallet address. You can also click "View on Etherscan" to see your wallet address.
3. Share the wallet address with the sender. To do so, you can send them a message or copy and paste the wallet address into a form or input field.
4. Once the sending process is done, you'll receive a notification in your Metamask wallet.
5. Go to your Metamask wallet and search the NFT to see if the NFT has been received successfully.

When receiving an NFT, the receiver doesn’t need to initiate a transaction or pay any gas fees, as it’s all on the sender.

How to Transfer NFT Between OpenSea and Trust Wallet?

The following steps lead you to transfer NFTs from your OpenSea wallet to your Trust Wallet.

How to Send NFT from OpenSea to Trust Wallet?

Follow the steps below to send an NFT from your OpenSea wallet to your Trust Wallet.

1. Log in to your OpenSea account and go to "Profile".
2. Click "Wallet" and choose the NFT you want to send to your Trust Wallet.
3. Click on the "Send" button and enter the receiver’s address, i.e., the Trust Wallet address.
4. Enter the amount of the NFT you want to transfer in the "Amount" section.
5. Select the proper gas fee, which differs based on the network activity and transaction speed.
6. Check again the details, i.e., the receiver’s address and gas fee, and click "Send".
7. Now, you need to sign the transaction using your OpenSea wallet. Follow the prompts to do so.
8. Once the transfer is initiated, wait for the transaction confirmation.
9. Once the confirmation is completed, the NFT will be credited to your Trust Wallet.

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How to Receive NFT from Trust Wallet?

Receiving an NFT in your Trust Wallet is an easy process containing the following steps.

1. Make sure you have created a wallet on Trust Wallet, and it is set to receive NFTs. If not, download and set up the Trust Wallet app on your mobile device.
2. Find the NFT you want to receive.
3. Get the NFT's contract address and token ID, which are usually provided by the seller or gift-giver. You can also find this info by searching the NFT on Etherscan.
4. Open your Trust Wallet app and go to the "Collectibles" tab.
5. Tap the "+" button to add a new NFT.
6. Enter the contract address and token ID of the NFT you want to receive.
7. Tap "Add" to add the NFT to your collection.
8. When the NFT is added, you can see it in your Trust Wallet under the "Collectibles" tab.

How to Transfer NFT Between OpenSea and Rarible?

Transferring an NFT between OpenSea and Rarible just takes the following steps.

How to Send NFT from OpenSea to Rarible?

1. Log in to your OpenSea account and go to "Profile".
2. Click "Wallet" and choose the NFT you want to transfer to Rarible.
3. Click "Send" and enter the receiver’s address, i.e., the Rarible wallet address.
4. Enter the amount of the NFT you want to transfer in the "Amount" field.
5. Choose the gas fee based on the network activity and transaction speed.
6. Double-check the receiver’s address and gas fee, and click "Send".
7. You'll be prompted to sign the transaction using your OpenSea wallet. You just need to follow the prompts to do so.
8. Wait for the transaction confirmation.
9. Once the transaction is confirmed, the NFT will be credited to the Rarible wallet.

Read More: The Best Cheap NFT Project That Will Explode In 2023

How to Receive NFT from Rarible?

You must have an Ethereum-compatible wallet like Metamask or Trust Wallet to receive an NFT from Rarible. The following steps guide you to receive an NFT from Rarible easily.

1. Log in to your Rarible account and find the NFT you want to receive.
2. Check the NFT’s name, description, and owner to ensure it's the correct item.
3. Click "Buy Now" or "Place Bid" to start the transaction.
4. If you choose “Buy Now”, you’ll need to confirm the transaction details, i.e., the price and gas fee. If you choose "Place Bid", you’’ be asked to enter the bid amount and gas fee.
5. Confirm the details to be prompted to sign the transaction using your Ethereum-compatible wallet. Ensure you have enough funds in your wallet to cover the purchase price and gas fee.
6. Once the confirmation is completed, the NFT will be transferred.

Summary

The growing popularity of NFTs makes NFT enthusiasts learn how to transfer NFT from OpenSea to another wallet. This article has covered all the steps you need to take to transfer NFTs.

Whether transferring to Coinbase, Metamask, Trust Wallet, or Rarible, you must consider the gas fees, network compatibility, and transaction details to avoid any problems.

To stay ahead of your game, you need to stay alert to market changes, do your own research, and check authentic and all-in-one sources like Cryptologist to save countless hours crawling the net and make confident investment decisions.

FAQ

The following Q&As will cover all that is left about how to transfer NFT from OpenSea to another wallet.

Can You Switch Wallets on OpenSea?

Yes, go to the top right menu and click the Wallet icon. You can see a list of your other crypto wallets by clicking the down arrow next to the profile name. Choose the crypto wallet you want.

Does Transferring NFT in OpenSea Cost Gas?

Yes, when transferring or buying an NFT using OpenSea, you must have enough cryptocurrency in your wallet to cover the gas fees.

Can I Have 2 Wallets on OpenSea?

Yes, OpenSea supports multiple wallets, and you can easily switch between them.

Who Pays 2.5% to OpenSea?

Selling NFTs on OpenSea costs a 2.5% fee that is always paid by the seller.