How to Create a Bitcoin Ordinals Inscription on Binance?

2023-08-30 03:37

What are Bitcoin Ordinals?

Each Bitcoin is broken into 100,000,000 units called satoshis (sats). Bitcoin Ordinal Inscriptions enable users to embed additional data into individual satoshis, forming digital artifacts that are securely stored on the Bitcoin blockchain. This feature allows the creation of Bitcoin-based NFTs.

Through the use of Ordinals, you can add various types of data, such as text and images, to the Bitcoin blockchain.

How to create a Bitcoin Ordinals Inscription?

1. Log in to your Binance account and click [Finance] - [Mining Pool].

2. Go to [Ordinals Inscribe].

3. Select an inscription type.

3.1 If you select [BRC 20]:

BRC-20 tokens require deployment before minting can take place.
The maximum number of inscriptions is limited by the rules set during deployment.
The multiple minting feature allows multiple BRC-20 tokens to be minted in a single submission. For example, if the set quantity is 1,000 and the repeat minting count is set to 20, it means that 20 inscriptions will be created, each containing 1,000 tokens, totaling 20,000 tokens.

3.2 If you select [Single Image]:

The Bitcoin block size is limited. If the file is smaller than 300KB, it will be inscribed as-is.
If the file is larger than 300KB, it will be resized, compressed, and converted to the WEBP format. For security reasons, the relevant metadata will be removed.

3. If you select [Text]:

Batch engraving is not supported.
Only single text inputs, such as {"p":"brc-20","op":"mint","tick":"bank","amt":"1000"}, are accepted. The block space of Bitcoin is limited, and the text input limit is 300KB.

4. Set a transaction fee.

Notes:

The displayed amount includes the estimated Bitcoin network fees and service fees for creating your inscription.
The USD value displayed is for reference only. You’ll see the final fees in sats in the next step.

5. Enter a Bitcoin address that can receive inscriptions. It should be compatible with the Ordinals protocol. We recommended using a P2TR address, characterized by its unique "bc1p" prefix.

For more details, please refer to How to Generate a Taproot Address.

6. Review the inscription details, then read and agree to the Ordinal Inscription Creator Terms of Use.

7. Read the important reminder and click [Confirm].

8. You’ll see the payment details. Please pay the exact BTC amount in a single transaction within 24 hours before the order expires.

Please note:

Depending on the fee amount and network demand, your inscription may take hours or days to confirm. Please wait patiently for it to complete.
Once broadcasted, Binance Pool cannot refund or increase the fees.
Once deployed onto the Bitcoin blockchain, inscriptions cannot be altered or removed.