BRC-20 is an experimental token standard for issuing fungible tokens on the Bitcoin network. Unlike ERC-20, which operates on Ethereum's smart contract-enabled blockchain, BRC-20 leverages the Ordinals protocol to inscribe JSON-formatted data for token deployment, minting, and transfers. This innovative approach allows developers to create and issue fungible tokens on Bitcoin without native smart contract support.
Step-by-Step Guide to Trading BRC-20 Tokens
1. Listing BRC-20 Tokens on OKX Ordinals Marketplace
Follow these steps to list your BRC-20 tokens:
Navigate to BRC-20 Listings:
- Select your token from the BRC-20 section in the OKX Ordinals Marketplace.
- Click 【List】 on the token details page.
Choose Inscriptions to List:
- Select eligible inscriptions and click 【List】.
- Enter your desired price and confirm the listing.
Mint Transfer Inscriptions (If Needed):
- If no transferable inscriptions are available, click 【Engrave】 to create one.
- Specify the quantity, sign the transaction, and confirm.
👉 Start trading BRC-20 tokens today
2. Buying BRC-20 Tokens on OKX Wallet
To purchase BRC-20 tokens:
Browse the Marketplace:
- Select a BRC-20 token from the list.
- Choose a transfer inscription based on price and quantity.
Complete Purchase:
- Click 【Buy】 or 【Scan】.
- Review fees and confirm the order.
3. Updating Token Logo (Community-Driven Process)
To modify a BRC-20 token logo:
Community Voting Requirement:
- Organize a Twitter/Weibo poll with ≥100 supporter votes.
- Submit proof (screenshot) and a PNG logo file to OKX Wallet for approval.
Note: Final discretion rests with OKX Wallet.
FAQs About BRC-20 Tokens
Q1: What makes BRC-20 different from ERC-20?
A1: BRC-20 uses Bitcoin’s Ordinals protocol for token operations, while ERC-20 relies on Ethereum’s smart contracts.
Q2: Can I trade BRC-20 tokens on any wallet?
A2: Currently, OKX Wallet’s Ordinals Marketplace supports BRC-20 trading. Other wallets may require integration.
Q3: How long does logo approval take?
A3: Processing times vary. Rejected applications receive email notifications.
Q4: Are gas fees higher for BRC-20 transactions?
A4: Fees depend on Bitcoin network congestion but are typically comparable to standard BTC transfers.
👉 Explore BRC-20 token listings now
Key Takeaways
- BRC-20 tokens extend Bitcoin’s utility beyond store-of-value.
- OKX Wallet simplifies trading via its Ordinals Marketplace.
- Community governance plays a role in token metadata updates.
For additional support, consult OKX Wallet’s official documentation.