Sometimes, inscriptions can be useless and have no value to you. However, they may still contain a small or significant amount of Bitcoin. In these cases, you can exchange your inscriptions for Bitcoin and use them as Bitcoin.
Here's how to exchange inscription for Bitcoin.
Exchange Inscription for Bitcoin
Step 1: Copy Output of Your Inscription
Visit the BestinSlot homepage. Enter your inscription number in the search bar, and click on the search result.
Copy the inscription ID.
Visit Ordinals homepage, enter your inscription ID into the search bar and click on the Search button.
Scroll down and copy the output of the inscription.
Step 2: Exchange Inscription for Bitcoin Through Sparrow Wallet
Now, import your wallet containing this inscription to Sparrow wallet. Open the UTXO tab in your Sparrow wallet.
You'll see all UTXOs of your wallet, along with their outputs. Now, find the UTXO with output that you copied earlier.
The value column shows the number of satoshis in each UTXO. You will receive Bitcoin equal to the number of satoshis in the UTXO you select.
You can now send this UTXO to any centralized crypto exchange on Bitcoin address, where it will be credited to your account as Bitcoin.
How to Exchange all Inscriptions for Bitcoin?
Using Select all option, you can select all of your UTXOs and send them all to an exchange in one transaction. The exchange will then credit your account with the equivalent amount of Bitcoin.
What to do When my Bitcoin Inscriptions are Mixed?
When you have merged inscriptions in your wallet, they will have the same output and number of satoshis. All merged inscriptions will have their own separate inscription numbers though.
For example, when you have two merged inscriptions with value of 5,000, you only have 5,000 sats in total. This is because the value represents the total number of sats in all merged inscriptions.
When you want to exchange selected inscriptions to Bitcoin then first split them using this 👇 method and then follow the steps explained above.
When you do not want to split your merged inscriptions, you can use the method described above freely.
However, you will only be able to find the output from one inscription number, because the output will be the same for all merged inscriptions. This means that you will only have one UTXO for all merged inscriptions in the Sparrow wallet.
To exchange your merged inscriptions for Bitcoin, simply find the UTXO in the Sparrow wallet and follow the method explained in step 2.
The Ordinals ecosystem is a new and rapidly evolving technology that is bringing many new use cases to the Bitcoin blockchain. However, it is important to be very careful when dealing with inscriptions of BRC-20 tokens or Bitcoin NFTs, as these assets are still in their early stages and there is a risk involve.
Frequently Asked Questions
1. Can I import my taproot address to Sparrow wallet?
Yes, you can import your any Bitcoin wallet to Sparrow wallet.
2. What is difference in Ordinals and Bitcoin NFTs?
Although the term "Ordinals" is often used to refer to Bitcoin NFTs, it is important to note that Ordinals is actually the name of a protocol that allows the creation of both BRC-20 tokens and Bitcoin NFTs.