How to participate in BRC-20 using a Web3 wallet?
BRC-20 is an experimental standard for issuing fungible tokens on the Bitcoin network. The key difference from ERC-20 is that the Bitcoin network does not support smart contracts. Instead, it deploys
1. How to Mint BRC-20?
Before starting, ensure your Web3 wallet has a sufficient amount of BTC.
- Click on "Ordinals" and select BRC-20.
- On the "BTC Generic Inscription Page," enter the BRC-20 text you want to mint.
- Input the token name, e.g., ubox.
- Specify the quantity and number of times to mint.
- Choose "Single Address" or "Multiple Addresses."
- Click "Generate."
- Select an appropriate fee rate, recommended "Fast."
- Finally, click "Submit Order."
- Patience is needed as you wait for blockchain confirmation in the "Memory Pool/My Orders" section.
- If BTC transactions are frequent, it might lead to network congestion, resulting in longer confirmation times. Check progress on Mempool and wait for confirmation.
-After minting, view the minted tokens and quantities in your personal center.
2. How to List/Unlist/Inscribe Tokens?
-List Tokens: On Ubox, click "Personal Center," choose the token to list, and click "List." Before listing, inscribe a transfer token sats by clicking "Inscribe" and entering the quantity, then sign "Confirm."
-During inscription, ensure you hold assets of that BRC-20 and have BTC as GAS fees.
-Inscription requires waiting for 3 block confirmations. After confirmation, click "List Tokens" to see the "Available Inscription Balance." Enter the price, click "List," sign, and complete the listing.
Unlist Tokens: In "My Orders," view listed tokens, click "Unlist" to remove the order. Unlisting incurs network fees, so reserve enough BTC for Gas. If BTC is insufficient, you need to "Add BTC."
3. Can BRC-20 Minting Fail?
Insufficient Gas Fee is a common reason for BRC-20 minting failure. Network congestion on BTC may also cause failure. The progress might show completion, but if the transaction is still awaiting confirmation on the chain, it may lead to ultimate failure.
Note: If minting fails, you may incur transaction fee losses, as fees are collected by miners, and the platform cannot refund.
4. How to Purchase BRC-20?
-On the "Ordinals" page, select the desired BRC-20 token, click "Buy Now."
-Confirm fees and prices, click "Confirm" to place the order.
Monitor the purchase status in "My Orders" and wait patiently for blockchain processing.
Once successful, view your purchase in the personal center.
Disclaimer The provided information is solely for informational purposes and should not be construed or considered as an offer, solicitation, recommendation, or investment advice for any product transactions.
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