How To Earn Money With BRC-20 Tokens

There are new tokens in town! And it’s not going any time soon. The BRC-20 tokens standards were created in March 2023. And have been earning the interest of many investors in the crypto world. You might be wondering what the heck is a BRC-20 token. Well, the answer is straightforward. BRC-20 tokens are the same thing as ERC-20 tokens, but instead of powering on the Ethereum network like the ERC-20 tokens. BRC-20 tokens power on the Bitcoin network. But, the main interesting thing is how can we use BRC-20 tokens to make money. Well, stick with here to find out!

What Are BRC-20 Tokens? 

BRC-20 is a new experimental token standard that allows the minting and the exchange of fungible tokens through the Ordinals protocol on the Bitcoin Blockchain. 

Same to ERC-20 tokens, BRC-20 tokens highlight different functions and mechanisms. Although BRC-20 tokens were gaining massive popularity during the first half of 2023, they are still experimental, and users must take precautions before dealing with said tokens. 

How To Buy And Sell BRC-20 Tokens?

First things first. What you need is a wallet, obviously. But not just any wallet will do the job. You need a special wallet for bitcoins like UniSat Wallet or the Ordinals Wallet. Here, we will be providing examples of how to buy and transfer BRC-20 tokens according to the UniSat website. 

1. UniSat Wallet:

•  Download the Chrome extension from the Unisat website.
• Select the Taproot address starting with “bc1p”.
• You can use this address also for receiving $BTC (ONLY FOR UNISAT WALLET).

• You can also head to the ‘BRC-20’ section to check out the newly created tokens. 
• You can also select “In-Progress” to see all the tokens that are still available for mint.
• Note: You should avoid tokens with: More than 90% progress (lose fees). And Low holders & transactions (red flag).

2. Buying: 

• Simply head to the ‘Marketplace’ section in UniSat. And this is where you will be able to buy your BRC-20 token. 
• You must make sure that the token you want to invest in is not completely minted. Meaning that it is 100% minted and there is no supply left. You can check this out on websites like CoinCarp or the website BRC-20.io. 
• When buying in a Marketplace you must be aware that buying and exchanging BRC-20 tokens are not by your terms. Meaning you cannot simply buy 1 ORDI you must buy the amount presented e.g.: 200 Ordi for the price presented. Here the price is 8. 28$ per Ordi. So, you would end up buying 200 Ordi for $1656. (UniSat)

Thus, getting into the BRC-20 tokens game is unfortunately not as easy and cheap as one might think. 

3. Selling/Transfering:

• Check to see if your BRC-20 token is available for transfer. Click on the BRC-20 token in your wallet to check the details. The transferable ones would be colored green. 

• You then click Transfer to start the process. Note that if you don’t have enough transferable inscriptions yet, you are going to inscribe them first. 

• Click the inscribe button. Then input the amount that you want to inscribe into a TRANSFER inscription. Choose an appropriate fee rate. And click the ‘Inscribe TRANSFER’ button on the bottom.

• After previewing the details, you then click ‘pay&inscribe’ to execute the process. 
• Once a number of TRANSFER inscriptions are chosen, you can proceed to send them to the receiver by typing their address (or .sats name). 

• You then proceed to sign the contract and thus the transaction would be completed.

Top BRC-20 Tokens

Since the debut of the BRC-20 token standard, many tokens were racing to claim first place. And we see these tokens gaining more popularity in the Crypto market without even being linked to BRC-20 tokens. Without further ado, the top BRC-20 tokens are the following:

Ordinals (ORDI): 

This BRC-20  token holds the highest Market Cap and is the number one token on the list. ORDI uses the Bitcoin protocol. This means that anyone can use ORDI to create their own digital assets which are unique and one-of-a-kind to them. But, we must be aware that ORDI is still new and is drawing a lot of people to invest in it. The statistics for ORDI, at the time of writing, are as follows:

• Market Cap: $238,463,400
• Price: $11.36

• 24H Volume:  $197,880,000

VMPX

VMPX is a BRC-20 token created by Jack Levin. The new token is already crushing it when it comes to the volume of transactions. It has even proved to be one of the highest in the market. Talk about impressive for sure. The token’s statistics are as follows: 

• Market Cap: $20,669,735

• Price: $0.19

• 24H Volume:  $411,648

PEPE: 

Surprised? Yes, PEPE is a BRC-20 token. The famous Memecoin actually uses the Bitcoin Protocol. Even though the token is extremely popular with a huge community backing it. This Memecoin’s statistics are as follows: 

• Market Cap: $8,329,704

• Price: $0.20

• 24H Volume: $620,578

OSHI

This project has the aim of providing liquidity to the BRC-20 ecosystem and helping with the creation of more stable and reliable liquidity pools for investors. The token’s statistics are as follows:

• Market Cap: $7,490,073

• Price: $561.60
• 24H Volume: $275,405

MEME

This is the second BRC-20 token ever created! It has a total supply of 99,999 and you can only mint 1 per inscription. This made people rush to claim their tokens after the mint immediately and now has an impressive amount of investors. This token’s statistics are as follows: 

• Market Cap: $6,042,110
• Price: $60.42
• 24H Volume: $628,524 

Final Statement

Lastly, when talking about the BRC-20 tokens we must mention that it is still in the Beta phase. This means that it is still experimental and one must do their complete research before investing in this new project. The thing is, this relatively new project is still under study. And we have no way to know if it will be a hit or a miss. Therefore, if you want to further expand your knowledge about BRC-20 tokens you can check out more info here.