How to Mint BRC-20 Tokens With Xverse: A Step-by-Step Guide
Learn how to mint BRC-20 tokens using the Xverse Mint App and Xverse Wallet in this step-by-step guide.
BRC-20 tokens have become popular among traders and speculators since they emerged in March 2023. Minting new BRC-20 tokens has never been easier, thanks to the new Xverse Mint App. Read on to learn how to mint BRC-20 tokens with Xverse.
What Are BRC-20 Tokens?
BRC-20 tokens are fungible digital assets issued on the Bitcoin blockchain using the experimental Ordinals-based BRC-20 token standard. They are generally meme tokens driven in value by investor speculation. ORDI, the first BRC-20 token, was launched by the pseudonymous developer Domo in March 2023.
The BRC-20 token standard is modeled after Ethereum’s ERC-20 standard for fungible tokens. However, the two standards are different in a few ways. For instance, BRC-20 is experimental, while ERC-20 is well-established. Moreover, the ERC-20 token standard utilizes complex smart contracts, while BRC-20 doesn’t rely on smart contracts.
Although BRC-20 tokens are still fairly new, they have attracted a large community of enthusiasts, traders, and speculators, creating a billion-dollar market.
How Does Minting BRC-20 Tokens Work?
BRC-20 tokens are based on Ordinals and are minted by appending data to an individual satoshi (sat).
Before the tokens can be minted, they must first be deployed. The deployment stage entails storing JSON data on an individual satoshi (sat) using the deploy function. The JSON data defines the BRC-20 token’s maximum supply, ticker, and limit per mint.
Once the token is deployed, the next step is generating the tokens using the mint function. This process involves first creating an Ordinal inscription to mint a BRC-20 token. After minting BRC-20 tokens, you can transfer them to another wallet using the transfer function.
While you can create your own BRC-20 token from scratch, you can also mint tokens that others have deployed. This is where minting platforms like the Xverse Mint App come in.
How to Mint BRC-20 Tokens on Xverse Mint
Xverse has recently introduced a BRC-20 token minting app called Xverse Mint that is easy to use and allows for low-fee minting of deployed BRC-20 tokens that have not been completely minted.
Here is a step-by-step guide on how to mint BRC-20 tokens on Xverse Mint:
- Download the Xverse Chrome extension wallet and set it up.
- Next, fund the wallet with BTC.
- Open the Xverse Mint App on your browser.
- Select the BRC-20 token you wish to mint. You can also use the search bar to look for a BRC-20 token to mint.
- Once you find the desired token, click the “Mint” button.
- Enter the number of times you want to perform the minting and hit “Submit.” This action will launch your Xverse Chrome extension wallet. The repeat mint feature lets you generate BRC-20 tokens in bulk, saving you money.
- Type in your Xverse wallet password and complete the transaction by clicking “Confirm.”
- Your tokens will appear in your Xverse BRC-20 wallet once the transaction is confirmed on the Bitcoin network.
Securely Manage Your BRC-20 Tokens Using Xverse Wallet
Xverse enables you to mint BRC-20 tokens while offering a user-friendly, non-custodial, Ordinals-supporting Bitcoin wallet to manage them.
You can also send and receive BRC-20 tokens in a few easy steps or use Xverse Wallet to buy BRC-20 tokens.
To access these and other features, download Xverse Wallet today!
Frequently Asked Questions
Where to mint BRC-20 tokens?
You can mint existing BRC-20 tokens on the Xverse Mint App if the maximum supply of a deployed token hasn’t yet been reached. You will need a funded Xverse Chrome extension wallet to mint BRC-20 tokens on the Xverse minting platform.
How do I make my BRC-20 transferable?
To make a BRC-20 token transferable, you must first create a transfer inscription. To do this, go to the platform where you deployed the token and connect your Xverse wallet. Next, choose the BRC-20 transfer option, enter the amount you wish to transfer, and specify the quantity you want to inscribe. For example, if you want to send two tokens to three different wallets, type “3” in the quantity field and complete the transaction.
Once the transfer inscription is confirmed, you can easily transfer your BRC-20 tokens from Xverse to the destination wallets.
How do I check my BRC-20 balance?
You can see the BRC-20 balance in your wallet after you have minted a deployed BRC-20 token. In Xverse Wallet, this balance is visible on the home screen under the name of the BRC-20.
You can transfer a segment of the balance by selecting the BRC-20 and hitting “Send.” Subsequently, enter the amount you wish to transfer and the recipient's address to complete the transaction.
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