In March 2023, the BRC-20 token standard was introduced to the world of cryptocurrencies through its launch on the Bitcoin blockchain. This innovative standard enables users to create and trade fungible tokens on the Bitcoin network. Although BRC-20 tokens share similarities with Ethereum‘s ERC-20 tokens, they are not interchangeable. The creation of BRC-20 tokens is made possible by the Ordinals protocol.
The Ordinals technology empowers users to securely and efficiently store data on the Bitcoin blockchain. Each newly minted BRC-20 token’s metadata is protected by an ordinal inscription. This crucial information includes the token’s name, symbol, total supply, and the identity of its owner.
The transfer of BRC-20 tokens between users is facilitated on the Bitcoin network. The sender needs to specify the recipient’s address and the number of tokens to be transferred in a digitally signed transaction. Subsequently, the receiver can redeem the tokens using their wallet.
Although still in their early stages, BRC-20 tokens have the potential to revolutionize token creation and exchange on the Bitcoin blockchain. By simplifying token generation and utilization, BRC-20 tokens could contribute to wider adoption of Bitcoin and enhance its versatility as a platform for decentralized applications.
However, despite the similar naming convention, there are significant differences between BRC-20 and ERC-20 tokens. BRC-20 tokens are native to the Bitcoin network, while ERC-20 tokens are associated with the Ethereum network. BRC-20 tokens do not utilize smart contracts and therefore offer fewer functionalities. In contrast, ERC-20 tokens can interact with various protocols and applications, enabling a wide range of services such as lending and borrowing.
In terms of maturity, ERC-20 tokens surpass BRC-20 tokens. ERC-20 tokens were introduced in 2015 and gained official recognition in 2017. They have withstood the test of time, demonstrating their stability and functionality in the cryptocurrency world. On the other hand, BRC-20 tokens are newcomers, and their future remains uncertain. Only time will reveal how they evolve and develop.
Why Ordinal Wallets is Suitable for BRC-20 Tokens
When it comes to storing BRC-20 tokens, the process is similar to storing other cryptocurrencies, but with the distinction that they exist on the Bitcoin blockchain. In theory, BRC-20 tokens can be stored on any wallet that supports Bitcoin Taproot addresses. However, it’s important to note that not all wallets offering this support are capable of displaying the Ordinals scripts. This means that while many wallets can store BRC-20 tokens, they may not be able to show or send them.
To fully leverage the potential of BRC-20 tokens, it is recommended to use one of the wallets mentioned in this guide. These wallets have been chosen for their comprehensive support of BRC-20 tokens, including both sending and receiving functionalities. Most of these Bitcoin wallets are non-custodial, ensuring that you have complete control and responsibility over your stored funds.
Ordinals Wallet is a non-custodial wallet that represents a distinctive form of non-fungible tokens (NFTs) that assign a unique identification to each satoshi on the Bitcoin network. With this feature, users can generate exclusive digital assets that are tradable and collectible. Furthermore, Ordinals Wallet also provides support for BRC-20 tokens.
Accessible through any internet-connected device, Ordinals Wallet operates as a web-based platform. It is built on an open-source foundation, ensuring transparency and allowing anyone to verify the code. By offering this level of transparency, the wallet provides a secure and trustworthy solution for managing and storing Bitcoin Ordinals.
The Ordinals Wallet offers users the ability to securely hold, store, and view their Ordinals tokens directly from within the wallet. It provides convenient features for transferring, sending, inscribing, buying, and selling Ordinals tokens, all seamlessly integrated into the wallet’s user-friendly interface. Users have expressed positive feedback regarding the wallet’s intuitive design and functionality. Notably, the Ordinals Wallet is a community-funded project, demonstrating the collaborative support behind its development and ongoing improvement.
Why use an Ordinals Wallet
- Access the Bitcoin NFT World: Ordinals Wallet provides the best gateway to the world of Bitcoin NFTs, leveraging the security, decentralization, and immutability of Bitcoin, the most trusted and valuable cryptocurrency.
- User-Friendly Interface: Enjoy a user-friendly interface that makes navigating the Ordinals Wallet seamless and intuitive, ensuring a smooth user experience.
- Low Fees and Fast Transactions: Benefit from low transaction fees and fast transaction processing times, allowing for efficient buying, selling, and trading of Ordinals.
- Explore Diverse Collections: Discover thousands of Ordinals collections and inscriptions across various categories, including art, gaming, memes, sports, and more, offering a wide range of options to explore and enjoy.
- Peer-to-Peer Marketplace: Engage in peer-to-peer buying and selling of Ordinals using Bitcoin on a marketplace without intermediaries or commissions, giving you full control over your transactions.
- Create and Mint Ordinals: Unleash your creativity by easily creating and minting your own Ordinals and inscriptions using simple tools and templates provided by Ordinals Wallet.
- Secure Storage and Management: Store and manage your Ordinals securely within your wallet, utilizing encryption and backup features to ensure the safety of your digital assets.
- Enhanced Visual Experience: Immerse yourself in the world of Ordinals with high-quality 3D graphics and animations that bring your digital collectibles to life.
- Share and Showcase: Share and showcase your prized Ordinals with friends and followers on social media, allowing you to express your digital creativity and engage with others in the community.
How to get started with an Ordinals Wallet
Getting started with Ordinals Wallet is a simple and enjoyable process. All you need is a device connected to the internet and some Bitcoin. Follow these steps to begin:
- Download the Ordinals Wallet app from the App Store or Google Play Store, or visit the website at ordinalswallet.com.
- Create a new wallet or restore an existing one by using your seed phrase or private key.
- Fund your wallet with Bitcoin by either transferring it from another wallet or purchasing it with a credit card or bank transfer through the integrated Moonpay service.
- Explore the marketplace within Ordinals Wallet and discover the Ordinal that catches your interest. You can conveniently filter by collection, price, rarity, inscription, and more.
- Once you’ve found your desired Ordinal, simply tap on the buy button and confirm the transaction. The Ordinal will be swiftly transferred to your wallet, instantly becoming part of your collection.
- Enjoy your new Ordinal! Take pleasure in viewing it in immersive 3D, personalize it with a unique inscription featuring a message or image, or consider selling it to another enthusiast in the marketplace.
Trusted Ordinals Wallets to Store Your Digital Artifacts
Sparrow Wallet stands as a robust solution catering to those who prioritize financial independence. Built upon a foundation of security, privacy, and usability, Sparrow empowers users with complete transparency. Rather than obscuring information, it offers an extensive view of transactions and UTXOs while ensuring manageability. By harmonizing disclosure and user accessibility, Sparrow enables an informed approach to Bitcoin management.
Noteworthy for its versatile offerings, Sparrow supports single sig and multisig wallets across common script types, presenting a broad spectrum of connection options, including public servers, Bitcoin Core, and private Electrum servers. This wallet adheres to standards, boasting full PSBT support and seamless integration with popular hardware wallets. Beyond conventional features, Sparrow boasts a unique transaction editor that doubles as a blockchain explorer, offering users the ability to edit transaction fields and preview transaction bytes.
Privacy takes center stage in Sparrow’s ethos. Guiding users on a journey toward heightened privacy, it encourages the shift from public servers to private cold storage techniques. Despite its advanced capabilities, Sparrow maintains an accessible user experience. The process is straightforward: download, install, and embark on your Ordinals journey with confidence using Sparrow Bitcoin Wallet.
Xverse Wallet is a Bitcoin Web3 wallet that prioritizes building the most advanced Bitcoin wallet while providing exceptional support for Ordinals. Users can interact with the blockchain through Xverse without running a full Bitcoin node.
The app’s fiat on-ramp service enables users to purchase Bitcoin and pay transaction fees directly within the wallet app. Creating an Ordinal involves uploading an image or text and sending a transaction to the associated address. The NFT should appear in the user’s Xverse NFT collection within approximately 30 minutes. Xverse collaborates with Gamma, a Bitcoin Ordinal marketplace, for inscribing Ordinals.
Hiro Wallet was among the first to launch its Ordinal services on February 14, 2023. The wallet offers secure storage, sending, and receiving of Bitcoin, along with the ability to create and store Ordinal NFT inscriptions within minutes. Hiro Wallet is compatible with popular Ordinals platforms such as Gamma, OrdinalsBot, and emerging apps, allowing for easy inscription directly in the web browser.
OKX Wallet pioneers multichain wallets with full support for Bitcoin Ordinals. It seamlessly integrates with the Bitcoin taproot upgrade, enabling users to view and transfer Ordinals effortlessly. Beyond the Bitcoin blockchain, OKX Wallet provides cross-chain interoperability across more than 50 chains, streamlining the user experience by eliminating the need for multiple wallets.
The wallet also facilitates convenient purchase of BRC-20 tokens. Additionally, OKX Wallet has plans to integrate the groundbreaking BRC-30 standard, which allows users to stake BRC-20 tokens and Bitcoin to earn BRC-30 tokens, providing new opportunities for participation in the Bitcoin ecosystem.
Additionally, OKX Wallet introduced a new feature called Bitcoin Cross-Chain Swap, expanding the capabilities of the platform and enhancing the trading experience for users. The entry of OKX Wallet into BRC-20 token trading signifies the increasing recognition and adoption of these tokens, further fueling the enthusiasm and momentum in this space.
Setting a new industry standard, OKX Wallet introduces a unique feature that empowers users to expedite or abort transactions, granting them unprecedented control over their transactions and enhancing overall transaction efficiency. This innovative functionality is currently unmatched by any other wallet, further emphasizing OKX Wallet’s commitment to user-centric solutions.
The Ordinals Wallet website truly stands out as the best place for BRC token traders. With its exceptional features, user-friendly interface, and comprehensive support for BRC tokens, it offers an unparalleled trading experience. By leveraging the security, decentralization, and immutability of the Bitcoin blockchain, the Ordinals Wallet website provides a trusted and reliable environment for storing, managing, and trading BRC tokens. Its commitment to innovation, security, and community involvement positions it as the leading destination for BRC token traders, revolutionizing the way digital assets are exchanged and collected.
Why should I choose the Ordinals Wallet website for BRC token trading?
The Ordinals Wallet website is the top choice for BRC token trading due to its advanced features, seamless user experience, and comprehensive support for BRC tokens. It offers a secure and reliable platform that leverages the trusted Bitcoin blockchain, ensuring the integrity and safety of your transactions.
How secure is my BRC token storage on the Ordinals Wallet website?
The Ordinals Wallet website prioritizes security and provides robust encryption and backup features to safeguard your BRC tokens. As a non-custodial wallet, you have full control and ownership over your digital assets, reducing the risk of unauthorized access.
Does the Ordinals Wallet website support a marketplace for BRC token trading?
Absolutely! The Ordinals Wallet website integrates a marketplace where you can easily buy, sell, and trade BRC tokens with other users. This vibrant marketplace fosters a dynamic trading community and enables you to explore exciting opportunities.
Are there any fees associated with BRC token trading on the Ordinals Wallet website?
The Ordinals Wallet website maintains transparency by offering competitive transaction fees for BRC token trading. These fees are designed to be cost-effective, maximizing the value of your trades and ensuring a fair trading environment.
How does the Ordinals Wallet website engage with its community?
The Ordinals Wallet website strongly believes in community involvement and actively seeks input from its users. It listens to user feedback and incorporates it into platform enhancements and updates. By fostering a collaborative environment, the website ensures that it caters to the needs and preferences of BRC token traders, creating an optimal trading experience for all users.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.