How to Transfer NFTs Between Wallets (Safely & Legally in Australia)

Cillian

Cillian

— 3 min read
How to Transfer NFTs Between Wallets (Safely & Legally in Australia)

If you're like me and you’ve collected a few NFTs — whether from OpenSea, airdrops, or Aussie projects — eventually you’ll need to move them between wallets. Whether it's shifting from MetaMask to Ledger for safekeeping or sending something to a mate, I’ve done it all.

And if you're in Australia, there are a few important things you need to know to stay safe and on the right side of the ATO.

Let me walk you through how I transfer NFTs between wallets in 2025 — the easy, legal way.

🔐 Why I Transfer My NFTs

Here’s why I’ve had to transfer NFTs between wallets:

  • Security: I don’t like keeping high-value NFTs in hot wallets, so I use my Ledger for long-term storage.
  • Organisation: I keep different types of NFTs in different wallets — gaming, art, experiments.
  • Testing: I’ve experimented with different wallets to compare gas fees and speed.
  • Resale/Gifting: Once I gave an NFT to a friend — yes, that counts as a transfer too.

📦 My Step-by-Step Process

Here’s how I transfer NFTs between wallets (say, from MetaMask to Ledger):

What I prepare first:

  • My receiving wallet address
  • Some ETH in my sending wallet for gas
  • The NFT details (chain, token ID, etc.)

The process:

  1. I log into my sending wallet (usually MetaMask)
  2. I click on the NFT and hit “Send”
  3. I paste the exact receiving address (I usually double-check it)
  4. Review gas fees and confirm
  5. Then I wait for confirmation — usually within 30 seconds to 1 minute

Pro tip: I always send a small test transaction if I’m moving something valuable.

💸 What It Costs Me (in Gas Fees)

Ethereum NFTs usually cost me between $3–$20 AUD depending on how busy the network is. Polygon or Solana NFTs are way cheaper — usually less than a dollar.

That’s one reason I try to batch transfers when I can — it saves on fees.

⚠️ Mistakes I’ve Made (So You Don’t Have To)

Here are a few rookie errors I made early on — avoid these!

MistakeWhat Happened
Sent to wrong walletNFT lost forever — no refunds 😩
Forgot to check the blockchainNFT didn’t show up on receiver
Used an exchange wallet addressNFT disappeared — not supported
Didn’t check gas feesPaid $40 for a $20 NFT… 😬

Now, I triple-check everything before I hit send. Always.

🇦🇺 What the ATO Says About Transfers

The ATO treats NFTs as crypto assets — and if you're just moving NFTs between wallets you control, there’s no Capital Gains Tax (CGT) event.

But if you:

  • Send an NFT to someone else,
  • Sell it on a marketplace,
  • Trade one NFT for another...

...then the ATO treats that as a disposal, and you’ll need to report it.

I always keep track of my transfers.

🧠 Questions I Had (and You Might Too)

Can I store NFTs on a Ledger?
Yes — I use my Ledger with MetaMask to view and store NFTs offline.

Do I pay tax when I move NFTs?
Only if you’re transferring them to someone else. Just moving between your own wallets? No tax.

What happens if I send it to the wrong address?
It’s gone. Forever. That’s why I do test transactions with cheap NFTs first.

What wallet do I use?
MetaMask for daily use, and Ledger for long-term storage. I’ve also tried Trust Wallet, which works well for mobile.

✅ My Final Advice

Transferring NFTs between wallets isn’t hard, but it’s easy to mess up if you’re not careful.

Here’s what I always do:

  • Use hardware wallets for high-value NFTs
  • Double-check the receiving address and chain
  • Keep a record of all my transfers
  • Ask myself: Is this a disposal under tax law?

📚 Related Reading:

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