BRC-20 is an experimental token standard enabling the issuance of fungible tokens on the Bitcoin network. Unlike ERC-20 on Ethereum, BRC-20 leverages the Ordinals protocol to deploy, mint, and transfer tokens by embedding JSON-formatted data inscriptions. This allows developers to create and unlock fungible tokens without relying on smart contracts.
Step-by-Step Guide to Managing BRC-20 Assets
1. Accessing Your OKX Web3 Wallet
- New Users: Download the OKX App and create a Web3 wallet within the platform.
- Existing Users: Log in to your OKX App and navigate to the Web3 wallet section.
👉 Get started with OKX Web3 Wallet
2. Adding BRC-20 Tokens
- Go to Crypto Asset Management in your wallet.
- Search for your desired BRC-20 token and add it to your asset list.
Tip: Use the search bar to quickly locate specific tokens.
3. Viewing and Trading BRC-20 Tokens
- Select the token from your Crypto Assets list to view transaction history.
- Click Trade to buy/sell BRC-20 tokens instantly.
Optimize your portfolio by tracking market trends.
4. Transferring BRC-20 Assets
- Select Send, choose the inscription you wish to transfer, and confirm.
- Enter the recipient’s address and customize the inscription quantity (ensure it doesn’t exceed your available balance).
Double-check addresses to avoid errors.
How to View and Convert BTC Addresses
- Open the OKX App → Select Wallet.
- Navigate to Crypto Assets → Choose BTC.
- Click Convert to see all existing BTC addresses.
Use this feature to manage multiple addresses seamlessly.
👉 Explore OKX’s multi-chain wallet features
FAQ Section
Q1: What is the difference between BRC-20 and ERC-20?
A: BRC-20 operates on Bitcoin via the Ordinals protocol, while ERC-20 relies on Ethereum’s smart contracts. BRC-20 uses JSON inscriptions instead of code-based contracts.
Q2: Can I trade BRC-20 tokens directly on OKX?
A: Yes! Use the Trade button in your wallet to execute buy/sell orders swiftly.
Q3: How secure are BRC-20 transfers?
A: OKX employs robust encryption. Always verify recipient addresses and inscription details before confirming transfers.
Q4: Why can’t I see my BRC-20 token balance?
A: Ensure the token is added to your asset list. If issues persist, refresh the app or contact support.
Key Takeaways
- BRC-20 expands Bitcoin’s utility beyond payments.
- OKX Web3 Wallet simplifies BRC-20 management with intuitive tools.
- Always verify transaction details to safeguard assets.
For advanced features like staking or cross-chain swaps, visit OKX’s official resources.