Introduction
I think everyone has heard about earning from the Bitcoin Token trend by now. For example, Ordinals Wallet gave away $3,000 worth of NFTs to users who made at least one transaction in the wallet. The $OXBT token minted for $13 and could be sold for $1k, the NFT Pepe&Pepita minted for $30 and could be sold for $250 and there are many such examples.
In this article we are going to break actual topic of Bitcoin (BRC-20) Tokens and NFT (Ordinals). We will analyze BRC-20 ecosystem: wallets, marketplaces, DEX, how to minify tokens and NFT, and how to earn from it.
What is BRC-20?
BRC-20 is a new interchangeable token standard for the Bitcoin Network that uses data writing in the order of the smallest BTC units (satoshi). It allows tokens to exist in parallel with bitcoin in its blockchain, similar to the way ERC-20 tokens exist in the Ethereum network.
Bitcoin Ordinals allow images and other types of data to be placed on the Bitcoin blockchain.
BRC-20 ecosystem
The main wallets in the Bitcoin Network:
There are three main wallets in the Bitcoin Network that are used to mint tokens and NFTs:
The most convenient way is to create an account in Unisat, and then import it by seed-phrase into Xverse. When creating a wallet, choose the Taproot Network!
You can refill your Wallet from any exchange in the Bitcoin Network.
Marketplaces in the Bitcoin Network:
In most cases NFT mint is like Magic Eden, where you need to connect any of the wallets for the Bitcoin Network and mint NFT.
DEX for BRC-20 Tokens:
The main exchange for BRC-20 tokens is Unisat. Under "All" you can see a list of all BRC-20 Tokens, and under "In Progress" you can see a list of mines of Tokens that are going through now.
How to mint BRC-20 Tokens
There are several options on how mint pass, and here it all depends on the project. It can be on the platform Unisat, but in most cases the mint take place on a separate site (page) of the exchange-launchpad Luminex or on the site of the project.
Let's look at an example of a mint on the Unisat platform:
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Under "In Progress" look for the desired Token, select it and click "Mint Directly"
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Select the quantity
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Copy and save the code (you will need it later)
- Click "Next" and choose gas and buy Tokens
In the Bitcoin Network, the situation with gas is similar to the Ethereum Network: if you choose low gas, the transaction may fail. That's why it's recommended to set gas higher.
After successfully purchasing tokens, we need to mint them:
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To do this, go to the section "Inscribe", in the tab "Text" paste the code that we copied earlier
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Press "Next" and mint the Tokens
You can sell Tokens in the "Marketplace" section by selecting "My Inscriptions".
In the same section, you can also buy Tokens. If necessary, you can sell Tokens on other DEX in the Bitcoin Network.
Let's look at an example of a mint on the Luminex site:
Most of the mints of hype tokens (like $VMPX, $OXBT, for example) take place on a separate page. And here we need Xverse Wallet (the most convenient for this).
For example let's take $MXRC token mint:
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Go to the mint site and plug in the Xverse wallet
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The first line of the input address, at which we want to receive Tokens, and the second line the number of Tokens (this information should be obtained directly before or during the mint)
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At the bottom there will be a button for mint
A good example of Token mint is the official instructions of $MXRC.
Similar Token seals also have stages of minting for different levels of WL and Public. So you need to clarify in advance the time and number of tokens that can be minted for your mint phase.
To sell the Tokens we bought, we also need to smith them. To do this, we need to do everything as in the instructions above. In the "Inscribe" section of the Unisat platform we insert the code and minify the Tokens.
How to search for BRC-20 projects
The best way to find Tokens and NFT projects is Twitter. The easiest way is to subscribe to Bitcoin Influencers, search by hashtags or keywords (#BRC20, #BRC20Token, #Bitcoin, #Ordinals).
Bitcoin projects, as well as NFT projects in other Networks, give out WL to participate in the mint. So, if the project is HYIP, it makes sense to try to get WL.
The ways to get WL are the same as in usual NFT-projects: you can win in raffles, get it for an asset in Discord and Twitter, buy it on OTC, etc.
List of Bitcoin Influencers:
@hash_bender @rodarmor @LeonidasNFT @Psifour @p0stc4p0n3 @pazNGMI @TO @rocktoshi21 @0xfar @ChartFuMonkey @ZK_shark @adam_7_btc @GGstarlord @cbspears @swagt0shi @0xLoopring @BRC20Coins @waleswoosh @0xBunzy
BRC-20 and Ordinals problems
The main disadvantage of all this Bitcoin movement is that the blockchain is not adapted to NFT/Tokens and buy/selling Tokens is not very convenient. Also, the Network has quite high commissions, sometimes you have to pay about $12 for withdrawal from the exchange, and $20-30 per gas for Free-mint.
Useful Links
BRC-20 Price Tracking:
Auctions:
Explorers:
Aggregators:
Conclusion
Mint NFT and Bitcoin Tokens - this is one of the few trends that allow you to make money in the market, so it is definitely worth to deal with this topic and take part in the "highpaying mines".
As for ways to earn money, everything is as simple as possible, you can mint - sold at a higher price. Or you can sell WL.
As a bonus for those who read the article to the end, we will leave a link to a project that will soon be mining and it has a good HYIP and potential for earning (DYOR): Chromatica Ordinals, Satoshi & Finney’s Curious Curations.
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