Bitcoin Ordinals are a new way to create NFTs on the Bitcoin blockchain. They are stored directly on the Bitcoin blockchain, rather than on a separate layer-2 network. This makes them more secure and immutable.
Creating NFTs on the Bitcoin blockchain is a straightforward process, here's how to do it.
Create Bitcoin Ordinals
Step 1: Create Ordinals Wallet
Step 2: Add Bitcoin To Ordinals Wallet
After creating an Ordinals wallet, you will need to add Bitcoin to your wallet. To create a single NFT on the Bitcoin blockchain, you will need 50-100 USD worth of Bitcoin.
The larger your file size and the higher the network fees, the more it will cost to process your transaction.
However, creating a collection of Bitcoin Ordinals may require more Bitcoin, depending on the number of NFTs you want to create.
Step 3: Create Bitcoin Ordinals
Now click Inscribe on Ordinals Wallet homepage.
You can upload a single file of any format up to 300kb to inscribe it on the Bitcoin blockchain as an Ordinal.
Select the network fee you want to pay for this transaction.
Check the current network fee on Mempool space to ensure your transaction is confirmed quickly and doesn't get stuck for a long time.
Review all fees associated with creating a Bitcoin ordinal, then click Inscribe.
Your transaction is now processing. It will take the standard amount of time for a Bitcoin transaction to be confirmed on the blockchain, and your Ordinal will then be deposited into your wallet.
Your Ordinals will appear under the My Inscriptions tab in your Ordinals Wallet.
This method allows you to create a single NFT on the Bitcoin blockchain in a single transaction.
There are ways to create multiple NFTs in a single transaction. However, this can be more expensive in the long run. This is because all of the NFTs will be merged together, and you will not be able to transfer or sell them without splitting them first. Splitting NFTs costs network fees, so it is best to avoid this situation.
Step 4: Transfer Your Bitcoin Ordinal
To view your NFTs, go to the My Inscriptions section of your wallet and click on Show all. Your NFTs will be listed in this section. Click Transfer.
To send an NFT, enter the recipient's address, choose a network fee, and click Send.
Enter your wallet password and click Unlock.
Review the transaction and click Confirm. Now, your transaction will process and the Bitcoin ordinal will be transferred to another address.
Frequently Asked Questions
1. Can I sell single Bitcoin Ordinal as an NFT, instead of making a collection?
Currently, you must create a collection to sell a Bitcoin Ordinals here. However, a collection can be just one NFT. Once you create a collection on the registry, you can coordinate with ordinal marketplaces to list your collection by referring them to your collection on the registry.
2. What is mean by Inscription?
Inscription is a general term used to describe Bitcoin Ordinals (NFTs) and other digital assets that are created on the Bitcoin blockchain. This includes BRC-20 tokens and domain names as well.