I have expected for a while that Bitcoin will be something else than just a store of value. Fortunately, this seems to happen now, with the arrival of the ordinals on Bitcoin network, and the BRC-20 tokens, which are the equivalent of Ethereum ERC-20 tokens... But on Bitcoin network. The BRC-20 tokens are getting so much hype on Bitcoin that the transaction fees on the network are now higher than the mining rewards, giving to Bitcoin a new utility:

Daily fees on Bitcoin are now more than half of Ethereum fees, about 6 times higher than Uniswap and about 20 times higher than Binance Smart Chain...

Therefore, it is worth considering what happens on Bitcoin, and what people are doing to increase so much the fees. The truth is that most of these fees are due to the minting, buying and selling of BRC-20 tokens, and most of these tokens are meme coins, with a limited supply since they are based on satoshis and there are 100 million satoshis per Bitcoin. Ordinals are not fungible and hence similar to NFTs whereas BRC-20 tokens are fully fungible.

The good news is that you can mint & trade BRC-20 tokens.

How to mint & trade BRC-20 tokens

You can trade BRC-20 tokens by using the UniSat.io platform, which is a wallet and marketplace for BRC-20 tokens. You can also mint these tokens:

Step 1: Set up UniSat Wallet

1. Visit the UniSat website at unisat.io and download the browser extension for UniSat Wallet.
2. Open UniSat Wallet and choose to create a new wallet.
3. Create a strong password to protect your wallet and confirm it. Remember to keep this password safe as it will be required to access your wallet.
4. UniSat Wallet will generate a 12-word recovery phrase (Seed). Note down this phrase and keep it secure as it is crucial for recovering your wallet.
5. Select the Taproot network when prompted to choose the network for your wallet, ensuring compatibility with BRC-20 tokens.
6. Once these steps are completed, your UniSat Wallet will be created and ready to use.

Step 2: Minting BRC-20 Tokens

1. Go to the UniSat website and navigate to the BRC20 section. Here, you will find a list of tokens that are being distributed or have ongoing supply.
2. Choose a token that is currently in distribution (in progress) and click on it to participate in the minting process.
3. Decide the number of times you want to mint (recurrences). For example, if you choose to mint once, you will receive a specific number of tokens. If you mint ten times, you will receive ten times more tokens.
4. Select the gas fees to expedite the validation process for minting. The gas fees depend on the priority you want to give to your transaction. Higher gas fees ensure faster processing.
5. Pay attention to the total supply of the token and the number of tokens distributed per mint. If the supply is high and the number of tokens per mint is low, it may take a longer time and more users to complete the distribution, which may not be cost-effective.
6. Monitor the minting progress closely to avoid getting front-run by other users. Front-running occurs when someone increases their gas fees to overtake your transaction. If the token distribution reaches 100% before you complete minting, you will lose the tokens you intended to obtain along with your gas fees.

In conclusion, minting BRC-20 tokens through UniSat Wallet provides an opportunity to create and acquire tokens on the Bitcoin blockchain. By following the steps above, you can participate in the minting process and explore the growing world of BRC-20 tokens. Remember to conduct thorough research on projects and tokens before investing, and always stay informed about the latest developments in the BRC-20 ecosystem. Happy minting!

Disclaimer: The information provided in this post is for informational purposes only and should not be considered financial or investment advice.

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