How to buy BRC-20 tokens
Initially an experiment to create fungible tokens on the Bitcoin network, BRC-20 tokens are produced through JSON inscriptions on satoshis via Bitcoin ordinals, similar to smart contract tokens with the JSON defining the core features of the BRC-20 token.
BRC-20 tokens inherit the security and decentralization of the Bitcoin network, which, along with Bitcoin's reputation and popularity, benefits their appeal. They can be sent between peers, just like any other cryptocurrency.
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. The Bitcoin community mints BRC-20 tokens, with each ordinal wallet being able to mint them once they are deployed, subject to a limit. The total mints must not exceed the total supply.
There are two primary methods for acquiring BRC-20 tokens. The first is through centralized exchanges where they are traded, while the second is through ordinal exchanges. The process for purchasing through centralized exchanges is typical. To purchase BRC-20 tokens on an ordinal exchange, however, an ordinal wallet is necessary.
Here's a step-by-step guide on how to buy BRC-20 tokens using an ordinal wallet:
Step 1: Create an ordinal wallet by visiting ordinalswallet.com and ensure that you securely store your wallet passphrase.
Step 2: Select the BRC-20 option from the top menu to view the tokens available on the platform.
Step 3: Click on the specific BRC-20 token you're interested in to access the sale requests. To buy the token directly from your wallet, click 'Buy Now'.
Keep in mind that you must have enough bitcoin in your wallet to complete the purchase.