Introduction BRC20 User Guide

15 May, 2023 12:28 pm

how to buy brc20 tokens

If you use a centralized exchange, however, make sure to transfer your tokens into a secure, non-custodial BRC-20 wallet like Xverse to ensure you have complete control over your assets. In some cases, you will need at least 20 UniSat points to access the marketplace. This means you have at least deployed or minted tokens before coming to the buying market. When you head over to A compatible BRC-20 marketplace or wallet, say UniSat, you can hit deploy. Once you follow the instructions on the screen, you can create your own BRC-20 token. Post creation and assigning traits to the token — say max supply and mint limit — you can start with minting.

Use cases of BRC-20 tokens

  1. We mentioned earlier that the JSON script during deployment determines the total supply and mint capacity of the concerned token.
  2. However, BRC, as a token standard, is as simple as Bitcoin Request for Comment.
  3. Also, Inscribing transfer and eventually transferring or listing the Face tokens would incur a network fee — something to keep in mind.
  4. Satoshi Nakamoto created the Bitcoin blockchain for p2p transactions; five years into its creation, the utility became even clearer and the Bitcoin revolution has been on a roll since this time.
  5. BRC-20 tokens utilize the Bitcoin network and can be moved between wallets on the network regardless of the location of each wallet.

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The BRC-20 and Ordinals connection: are they the same?

Now you need to head to one of the marketplaces and purchase your chosen token. For this article we have selected our .COM token and cover the OKX and Unisats marketplaces. For the purposes of this article we have chosen the OKX wallet, but other wallets should have similar user experiences.

Origin of BRC-20 tokens

how to buy brc20 tokens

The BRC-20 token standard is similar to the ERC-20 token standard on Ethereum and EVM blockchain networks. On successful deployment, any Bitcoin ordinals wallet can connect to the network and mint the token, which can be spent like any other cryptocurrency. ORDI is the first fungible token created using the BRC-20 standard on the Bitcoin blockchain. It currently trades at $17.89 with a market cap of over $350 million at the time of writing. Although BRC-20 tokens function like regular crypto tokens, they are powered by a different back-end technology and are created in a unique way.

how to buy brc20 tokens

BRC-20 tokens started out as an experiment to create fungible tokens on the Bitcoin network. Non-fungible tokens (NFTs) have been a significant force in digital ownership, representing unique digital content such as art, music, and videos. Bitcoin NFTs extend this concept to the Bitcoin blockchain, offering a new dimension of authenticity, ownership, and rarity in digital items.

BRC-20, on the other hand, has a $1 billion market cap and hardly any utility as of 2024. From a distance, a BRC-20 standard looks like any other token that uses a specific base layer, like the ERC-20, BEP-20, and more. However, BRC, as a token standard, is as simple as Bitcoin Request for Comment.

While we have already listed quite a few wallets that double as BRC-20 marketplaces, here are the ones you can specifically look to buy and sell BRC-20 tokens. As mentioned earlier, every step along the way needs to invoke a function. Also, Inscribing free money flow transfer and eventually transferring or listing the Face tokens would incur a network fee — something to keep in mind. As far as the token utility is concerned, BRC-20 tokens like ORDI and SHIB haven’t yet done anything to prove usefulness as of now.



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