How to Buy ORDI: A Step-by-Step Guide
Learn how to buy ORDI on Binance and on ALEX using Xverse in this step-by-step guide.
ORDI is a popular BRC-20 token that has been making headlines since launching in March 2023. Read on to learn what ORDI is and how to buy ORDI on Binance and on the decentralized exchange ALEX using Xverse.
What Is the ORDI Token?
ORDI is a meme token built on the BRC-20 token standard by the pseudonymous developer Domo. It was the first token of its kind to be inscribed on the Bitcoin blockchain.
Although experimental, ORDI has grown significantly in price and market capitalization. As of this writing, the token is the largest BRC-20 token with a market cap of over $450 million. Like BTC, ORDI has a maximum supply of 21 million tokens.
ORDI’s price recently surged by 50% in 24 hours after being listed on Binance in early November 2023. The token has continued to climb, going from $7 on the day of listing to the current price of $26.18.
What Are BRC-20 Tokens?
BRC-20 tokens are fungible tokens generated using the Ordinal Theory-based BRC-20 token standard. Ordinal Theory is a numbering scheme that powers asset issuance directly on the Bitcoin blockchain. It allocates an ordinal number to each satoshi (sat), allowing anyone to identify, inscribe, and track individual sats within the existing Bitcoin supply.
Inscribing entails appending content like an image or text to a satoshi. This process creates an Ordinal inscription or digital artifact.
While the BRC-20 token standard was established as a fun and experimental project, speculation from investors has created a multi-million-dollar market with more than 200 tokens.
How to Buy ORDI on Binance
You can purchase ORDI on the leading crypto exchange Binance by following these steps.
- Log into your Binance account. If you don’t have an account, create one and complete KYC verification.
- Click the “Deposit” button to load your account with any of the coins you can trade ORDI against. These assets include BTC, USDT, FDUSD, TRY, and TUSD. If you don’t own any of these cryptocurrencies, deposit fiat currency to buy the asset of your choice on Binance.
- Once you have any of the assets above in your Binance account, go to the "Trade " tab and select “Spot.” This will allow you to buy ORDI on the Binance spot market.
- A trading dashboard will appear on your screen.
- To change the trading pair, type ORDI in the search field on the right.
- Pick the trading pair of your choice.
- A disclaimer will then pop up on your screen.
- Answer the questions and click “Confirm” to proceed. Binance has added this requirement since ORDI is listed under the “Seed” category. The “Seed” mark depicts innovative tokens that are riskier and more volatile than other listed digital assets.
- Next, scroll down to enter the trade details. You can specify your desired buy limit through a limit order or purchase ORDI at the best current market price via a market order.
- Once you’re satisfied with your order, go ahead and click “Buy ORDI.”
- Next, wait for the exchange to fulfill your order.
- ORDI will be reflected in your account when the order is fulfilled.
To then securely store your ORDI tokens in a self-custody wallet you own the private keys to, transfer your ORDI to yoru Xverse wallet for enhance storage security.
How to Buy ORDI on ALEX with Xverse
Alternatively to buying ORDI on a centralized crypto exchange like Binance, you can also buy the ORDI token on ALEX, a leading decentralized Bitcoin exchange.
Here’s how to go about it.
- Begin by acquiring Ethereum or Binance Smart Chain (BSC)-based USDT. You will need this stablecoin to buy ORDI. Next, if you don’t have one set up already, download Xverse wallet. In this case, you will need the Google Chrome wallet extension.
- Next, open the ALEX website on your browser and click “Launch App.”
- Click the “Bridge” tab and select “Cross-chain Bridge.” This will help you convert USDT to sUSDT, a wrapped version of USDT on the Stacks network.
- You must connect two wallets to bridge the asset. One of the wallets should hold the USDT that will be transferred from BSC or Ethereum to Stacks. The other wallet will receive sUSDT once the bridge is complete. Xverse supports sUSDT.
- Once you have received sUSDT on Xverse, go to the “B20 Orderbook” tab and choose “Trade.” B20 is a decentralized trading platform for BRC-20 and SIP-10 tokens. SIP-10 is a token standard used by the Stacks protocol.
- On the right-hand side of the trading dashboard, type ORDI in the search field and hit enter.
- Click on the ORDI/sUSDT trading pair.
- Study the chart and order book to determine the best entry point for your trade.
- Next, scroll down to create a limit or market order.
- Enter the required information and then click “Buy.”
- Once the DEX has executed your trade, you will receive ORDI in your connected Xverse BRC-20 wallet.
Securely Store and Manage Your ORDI tokens with Xverse
Xverse is a user-friendly Bitcoin Web3 wallet that allows you to securely store and manage ORDI and other BRC-20 tokens. It also enables you to send and receive ORDI to and from other wallets, such as your exchange accounts.
Download this wallet to start exploring the growing landscape of Bitcoin DeFi today.
Is ORDI a good investment?
The definition of a “good” investment will vary from one investor to another as it is determined by risk appetite, investment goals, investment horizon, market timing, and other factors. The most important aspect to remember when investing in ORDI is that it is an experimental token designed to have no financial value and its price has been purely driven by speculation. Investing in such speculative digital tokens is highly risky and shouldn’t be attempted without being aware of all the risks involved.
Where can I buy ORDI crypto?
ORDI trades on centralized and decentralized crypto exchanges such as Binance, KuCoin, OKX, ByBit, Gate.io, HTX, Bitget, and ALEX. You can only buy ORDI via spot trading on these exchanges. There are currently no derivatives on ORDI. To store your ORDI tokens after you have purchased them, you can use Xverse wallet.
How to buy ORDI BRC-20?
You can buy ORDI on ALEX directly from your Xverse wallet by trading it against sUSDT. This process requires first bridging USDT from Ethereum or BSC to Stacks. Alternatively, you can purchase ORDI on a centralized crypto exchange like Binance. Once you have obtained your ORDI tokens, don’t forget to store them on a non-custodial crypto wallet like Xverse.
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