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    What Is the Binance Inscriptions Marketplace?

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    Important points

    • An inscription is a piece of metadata attached to transaction output on the blockchain.

    • Binance Inscriptions Marketplace is the place to trade and mint Inscription tokens.

    • This guide will introduce you to the Binance Inscriptions marketplace and show you how to start using it.

    introduction

    Binance Inscriptions Marketplace is a place where users can create their own Inscriptions and trade over 60,000 Inscription tokens. BRC-20 tokenEthereum Virtual Machine (EVM) tokens, etc.

    Now, let's take a look at what Inscription is, what the Binance Inscriptions Marketplace is, and how to use it to trade Inscription tokens.

    What is an inscription?

    In the virtual currency field, inscription This is the information that is added or “engraved” to the SATOSHI, the smallest unit of BTC. These became popular after expanding the use cases of the Bitcoin blockchain. bitcoin ordinal number protocol. Basically, inscriptions can represent different types of information on the blockchain, including text, videos, images, etc.

    BRC-20 tokens are examples of inscriptions. Basically, BRC-20 is an experimental token standard that allows users to send money. Substitutable Tokens via the Ordinals protocol on the Bitcoin blockchain. Created to the BRC-20 standard, each token is engraved with Satoshi.

    What is Binance Inscriptions Marketplace?

    Binance Inscriptions Marketplace is Binance Web3 Wallet. It provides an interface for trading various nameplates such as BRC-20 tokens and his EVM tokens. The Binance Inscriptions Marketplace provides users with a single environment to work with all their registrations, simplifying asset handling.

    Users can also use Inscription Center to create, expand, and forward inscriptions with just a few clicks. This and other features of Binance Inscriptions Marketplace allow users to seamlessly manage and interact with their registration tokens.

    How does the Binance Inscriptions Marketplace work?

    Essentially, Binance Inscriptions Marketplace is a trading platform for inscriptions within the Binance app. Users can move Inscription tokens between their Binance Web3 wallet and the Binance Inscriptions Marketplace to create trading orders. Binance Inscriptions Marketplace uses several frameworks to improve your trading experience.

    This platform implements a BTC transaction accelerator. This is a service that speeds up transaction confirmations, especially when the network is congested or when users set their fees too low. Therefore, this mechanism reduces transaction delays and allows high-priority transactions to be processed faster.

    Binance Marketplace is also integrated with UniSat. The platform leverages the UniSat API to enhance liquidity and offers a wide range of registered tokens for trading. As of March 2024, Binance Marketplace supports the purchase, sale, and registration of over 60,000 BRC-20 tokens.

    How to get started with Binance Inscriptions Marketplace

    Let's take a look at the Binance Inscriptions marketplace interface. Next, we'll look at how to mint Inscriptions, followed by an example of how to purchase Inscription tokens.

    How to access the Binance Inscriptions Marketplace

    1. Log in. Binance Create an account and find out [More] → [Web3 Wallet].

    2. Next, [Inscriptions Marketplace] Click on the Binance Web3 Wallet banner and click on it.

    4. You will be redirected to the Binance Inscriptions marketplace.

    5. A list of tradeable inscription tokens will be displayed. You can use the search bar to find a specific inscription.

    6. You can access the guide on how to manage your inscriptions using the button in the top right corner.

    7. You can also view your order history using the more buttons in the top right corner.

    8. The Inscription Center allows you to cast, deploy, and transfer inscriptions.

    How to cast an inscription

    1. The first step is to open the Inscription Center from the main interface of the Binance Inscriptions Marketplace.

    2. Next, select your network and enter the 4-letter ticker of the inscription you wish to mint. Specify the mint amount and number of repetitions.

    3. Double-check the information you entered and press . [Confirm] To cast an inscription.

    How to purchase an inscription

    1. First select the inscription token. This example uses piin.

    2. Next, select the inscription you would like to purchase.press [Buy] Confirm your selection.

    3. Review your order carefully and press to complete. [Confirm].

    lastly

    Binance Inscriptions Marketplace is a platform that allows the creation and trading of various nameplates, including BRC-20 and EVM tokens. This marketplace allows users to explore the full potential of Inscription with its user-friendly interface, comprehensive features, and frameworks such as BTC transaction accelerator and his UniSat.

    References

    Disclaimer: This content is provided “as is” for general information and educational purposes only and without representations or warranties of any kind. This should not be construed as financial, legal, or other professional advice, nor is it a recommendation to purchase any particular product or service. You should seek independent advice from an appropriate professional advisor. If the article is contributed by a third-party contributor, please note that the views expressed are those of the third-party contributor and do not necessarily reflect the views of Binance His Academy. For more information, please read our full disclaimer here. Prices of digital assets may fluctuate. The value of your investments can go down as well as up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not responsible for any losses you may incur. This material should not be construed as financial, legal, or other professional advice. For more information, see terms of service and risk warning.

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