Top Inscription Marketplaces in the Crypto Space

Introduction

Inscriptions, or Bitcoin ordinal inscriptions, are gaining significant momentum, leaving many individuals curious about where they can engage in buying and selling these inscriptions on the Blockchain. In this piece, we will explore the top inscription marketplaces in the crypto space that provide convenient options for purchasing, selling, trading, storing, and even creating your own inscriptions.

What are Inscriptions?

Cryptocurrency inscriptions refer to digital artifacts employed for storing data on the Bitcoin blockchain. These inscriptions come in various forms, including images, audio, videos, text files, and even smart contracts. According to trustworthy data from industry leaders such as Dune Analytics and Galaxy Digital, text files constitute the majority of Bitcoin inscriptions and this comprises 95% of all crypto inscriptions. As of mid-2023, Galaxy Digital’s report disclosed that the number of Bitcoin ordinal inscriptions approached nearly 18 million.

The Difference Between Ordinal Inscription and Inscriptions

Before exploring the top inscription marketplaces, it’s crucial to grasp the distinction between ordinal inscriptions and inscriptions, as well as how they function.

Ordinal inscriptions can be defined as a numbering system for Sats (Satoshi). They are like indexes in a library, that allow librarians to easily track the number of books and their location in the stacks. In the crypto space, ordinal inscription facilitates the monitoring and transfer of various Satoshis. These Satoshis are numbered based on their mining order. They follow a first-in-first-out basis, and this enables the clear identification and deployment of inscriptions on the blockchain.

Inscriptions, on the other hand, include the act of inscribing Sats with arbitrary content. This process results in the creation of digital artifacts that can be stored in Bitcoin wallets. The mechanism employed in inscriptions for data storage is termed an “Envelope.” Envelope is a Bitcoin script that is designed in such a way that it will not be executed.

Inscriptions are limited by block space allocation for each Satoshi, with a maximum size limit of around 4 MB. They exist purely as digital entries or “digital artifacts” on the Bitcoin blockchain, which is the public ledger for all Bitcoin transactions.

Essentially, crypto inscriptions serve as metadata labels that can be attached to Satoshis, similar to adding a stamp or seal to physical currency.

The Use of Inscriptions

In the Bitcoin network, Ordinal inscriptions represent a novel method of record-keeping. Grounded in ordinal principles, inscriptions offer a straightforward means of assigning value to individual Satoshis and monitoring their movements.

Bitcoin inscriptions assign a unique reference number to transfer individual Satoshis, even when these units are not formally recorded on the Blockchain. Here’s how it works: when Kelvin initiates a transaction, the Bitcoin inscription attaches a file or document that serves as an invoice number or reference point for the transaction.

Inscriptions are very versatile and this has contributed significantly to their growing popularity. The widespread acceptance of Bitcoin inscriptions is evident, with approximately 1.2 million image-based inscriptions created within the initial 200 days of their introduction.

For further insights into Bitcoin inscriptions, please visit our website Gate Learn.

Top Inscription Marketplaces

Ordswap

Source: Ordswap — Ordswap is the first trustless ordinals marketplace built on Bitcoin where users could inscribe, buy, and sell ordinals

Ordswap, the pioneering trustless Bitcoin ordinals inscription marketplace, was launched in February 2023 and has rapidly garnered widespread popularity. It serves as a robust platform for buying, selling, and creating Bitcoin ordinal inscriptions, offering users a sleek and user-friendly interface along with diverse wallet options.

One of Ordswap’s standout features is its compatibility with existing MetaMask wallets. This simplifies the process of buying, selling, and storing Bitcoin ordinal inscriptions. The platform imposes a 3% fee on all purchases, accompanied by a flat fee of 0.00025 Bitcoin (approximately $5 to $10 depending on Bitcoin’s value), along with a 5% fee for inscribing your own Bitcoin ordinal.

Navigating Ordswap’s intuitive user interface is seamless, allowing users to effortlessly explore collections, the marketplace, and the inscription page through conveniently placed tabs at the top of the website. Whether you’re a novice exploring ordinals inscription and inscriptions or an experienced user seeking a streamlined experience, Ordswap caters to both ends of the spectrum.

Ordswap’s proactive approach to innovation and swift adaptation to the evolving landscape of Bitcoin ordinals inscription makes it a fascinating platform to explore as the sector continues to evolve.

Ordinals Wallet

Source: Ordinals Wallet

Ordinals Wallet emerged onto the scene in early February 2023, coinciding with the surge in popularity of Bitcoin ordinals inscriptions. Within just a week of its launch, Ordinals Wallet showcased prominent Bitcoin ordinals inscription collections, including Ordinals inscription Punks and Ordinal Rocks, quickly establishing itself as one of the primary platforms for transferring ordinals inscriptions. In a month, it evolved into the leading ordinals inscription NFT marketplace.

If you are seeking a user-friendly experience, Ordinals Wallet stands out. The marketplace operates on a trustless basis, simplifying the buying and selling of ordinal inscriptions. Although the capability to inscribe or create your own Bitcoin ordinals inscription is not currently available, plans to introduce this feature are in the pipeline.

Ordinals Wallet imposes a 2.7% fee on transactions within their marketplace and has implemented a 4.2% creator royalty fee, making them one of the pioneering ordinal marketplaces to incorporate creator royalties.

The user interface of Ordinals Wallet is designed to be simple, and the platform has an integrated wallet that seamlessly works with the marketplace. It offers additional functionalities such as a Floor Suite feature and an interactive game and it is positioned as one of the most innovative ordinal marketplaces. As of now, they have streamlined the entire process of buying and selling ordinal inscriptions, making it accessible and straightforward for users.

Gamma

Source: Gamma.io — Gamma’s website where you can create, buy, and sell ordinals of your choice

Gamma has earned a reputation as a great Bitcoin ordinal marketplace. They became popular for being among the pioneers to allow users to effortlessly inscribe their own ordinal inscription—a feature they still offer to date. Before their rebrand, Gamma initially focused on providing a platform for purchasing and selling Stats NFTs—a Bitcoin sidechain dedicated to NFTs transactions. While Stats NFTs remain available, Gamma’s primary emphasis has shifted towards ordinal inscription.

The platform enables users to create entire ordinal collections without the need for coding skills or any upfront costs. Users can also design their collection pages. Further, to ensure the longevity of ordinal inscription, Gamma stores high-resolution images on an interplanetary file system, similar to the Ethereum blockchain, while retaining lower-quality copies on the Bitcoin blockchain.

Gamma’s marketplace distinguishes itself with a community tab that allows users to follow fellow artists and collectors, fostering engagement within the ordinal ecosystem. This strategic feature encourages participation and interaction among community members.

If you’re in search of a user-friendly ordinal marketplace where you cannot only buy but also create your own Bitcoin ordinal inscription, Gamma is a reliable and accessible platform that you can explore.

Ordinals Market

Source: Ordinals.Market

The Ordinals Inscription Market aims to distinguish itself as the premier destination for buying and selling Bitcoin ordinals inscriptions. It is different from other marketplaces as it offers a unique approach to buying and selling ordinal inscriptions. It does this through the use of Emblem Vault, a tokenized multi-asset wallet designed to facilitate the trading of NFTs across different blockchains. But what exactly is the Emblem Vault?

The Emblem Vault is a gateway for users to trade NFTs from various blockchains. It achieves this by introducing wrapped ordinals inscription—a process where ordinals inscription is wrapped using the Emblem Vault’s wrapper and subsequently offered on Ethereum marketplaces like OpenSea. This enables users to purchase Bitcoin ordinal inscriptions on OpenSea. Therefore, people can buy these ordinal inscriptions on the Ordinals Market using ETH, BTC, and potentially other cryptocurrencies. Moreover, users can utilize their existing NFT or cryptocurrency wallets, such as MetaMask, Trust Wallet, or Coinbase Wallet, on the Ordinals Market since it operates on the Ethereum blockchain.

In terms of security, Emblem Vaults rigorously verifies all ordinal inscription NFTs within its vaults. This verification process encompasses authenticating the Emblem Vault contract address, the Emblem Vault Bitcoin address, token details, inscription owner, and vault verification.

One of the impressive features of the Ordinals Market is its ability to lower the barrier to entry for people who may not be fully acquainted with the difficulties of ordinals inscription. If you prefer to continue trading NFTs on the Ethereum blockchain using your MetaMask wallet, the Ordinals Market offers a seamless solution without the need to learn new processes or technologies.

Magic Eden

Source: Magic Eden

Magic Eden is recognized as one of the leading inscription marketplaces in the crypto space. As a prominent cross-chain NFT marketplace, it also incorporates Bitcoin ordinals. Magic Eden partnered with Xverse to offer a trustless ordinal marketplace to their 1.5 million daily active users. According to Zhuoxun Yin, the COO and co-founder, their decision to integrate Bitcoin into their platform stems from the belief that it will enhance their connectivity with a broader community and allow them to leverage the rapidly evolving phenomenon.

The platform facilitates artists in inscribing their artwork on the Bitcoin Blockchain, streamlining the process of selling their collections. Moreover, it doesn’t leave creators to navigate this process alone but rather offers assistance and guidance throughout.

The launch introduced two noncustodial crypto wallets, Hiro and Xverse, designed to facilitate seamless transactions and empower users to engage with various blockchain networks. It is important to note that, Magic Eden does not offer royalties to creators due to the lack of secure and trustless royalty enforcement tools within the ordinals ecosystem.

EVMINK

Source: EVMINK

EVMINK is positioned as a versatile multi-chain indexer and inscription marketplace, providing users with access to ETH, Polygon, and Ethereum inscriptions. It serves as a comprehensive hub for all things on-chain, offering a unique feature called “the creator launchpad” for projects to thrive within the inscription ecosystem. Users can seamlessly engage in buying, selling, and creating inscriptions on the EVMINK platform.

With the ability to mint inscriptions across Solana, BNB Smart Chain, and Ethereum in mere seconds, EVMINK stands out as a reliable and user-friendly multi-chain inscription marketplace. Its intuitive features streamline the inscription trading experience, making it an attractive option for those seeking hassle-free inscription trading adventures.

ORDEX

Source: ORDEX

ORDEX.io is a premier multi-chain inscription marketplace, renowned for offering some of the most competitive deals in the industry. ORDEX.io is a digital marketplace that provides professionals with a wide range of inscriptions available for trade and purchase. The platform is known for its safety and reliability and offers a secure space for investigating, buying, and selling inscriptions with confidence. Whether you are looking to buy or sell inscriptions, ORDEX.io ensures top-notch inscription services to meet your needs.

Exploring Inscriptions on Gate.io

Source: Gate.io — Collection of BRC-20 Tokens Trading on the Exchange

At Gate.io, we provide the option to trade a wide range of inscription tokens, making it a prime destination for those interested in the evolving world of blockchain-based digital assets.

When engaging in inscription trades on blockchains, it’s important to monitor costs. Therefore, opting for centralized exchanges like Gate.io proves to be a more cost-effective solution. We facilitate direct blockchain transactions on our platform, helping you steer clear of escalating charges.

Moreover, we offer competitive trading fees, typically our fees commence at approximately 0.1%, alongside ample liquidity. This blend of reduced expenses and accessible markets ensures our exchange is a reliable choice for managing inscription transactions efficiently and economically.

How To Purchase Inscription Tokens on Gate.io

You can simplify the inscription-buying process with the Gate.io crypto exchange. We are renowned for our diverse array of tokens, including those on Bitcoin, Solana, and other networks like BNX, SOLS, MUBI, and more. Our platform streamlines the purchase process, allowing users to deposit either fiat or Bitcoin for their preferred tokens.

To initiate the trading of inscription tokens on Gate.io, follow these steps:

1. Account Creation: Visit Gate.io’s website to register.

Source: Gate.io

1. Fund Your Account: After logging in, deposit funds using Bitcoin, or fiat via bank transfers, debit cards, or credit cards.

1. Explore Inscription Tokens: Head to the trading section to discover a wide range of inscription tokens.

1. Execute a Purchase: Select your preferred inscription token, specify the amount of Bitcoin for the exchange, and complete the transaction.

By following these outlined steps, you can effortlessly trade your desired inscriptions on the Gate.io trading platform.

Trading Inscriptions on Other Inscription Marketplaces

Here’s a step-by-step guide on how to trade inscription tokens on Inscription Marketplace:

1. Set Up Your Wallet: The first process involved in setting up an Ordinals inscription-compatible Bitcoin wallet. Examples of these wallets are the Ordswap wallet and MetaMask. It is important to note that you should be careful not to send BTC from this wallet. This is because you may accidentally send both your BTC and your Ordinal(s).

2. Visit the Marketplace: The next step is to visit a Bitcoin Ordinals marketplace. Some of the popular marketplaces have been listed above. In this scenario, let’s consider Magic Eden.

3. To get started on Magic Eden, download the Xverse Chrome browser extension.

Source: Magic Eden

1. Then, find your way to the Magic Eden website, select Connect a Wallet and choose Xverse.

Source: Magic Eden

1. If you want to sell ordinals on Magic Eden, go to your account and select “My items” in the dropdown menu.

Source: Magic Eden

1. The next step is to enter your list price, review it, and confirm it to list your sale.

Source: Magic Eden

1. Purchase an Inscription: You can browse over 70 inscription collections for sale on Magic Eden and use Xverse to purchase anyone of your choice. Select an ordinal you wish to purchase and click “Buy Now.”

Source: Magic Eden

1. The next step is to click on “prepare your wallet” and then confirm the transaction. Once this is done, you will see your Ordinal Bitcoin NFT appear in the “Collectibles” section of your Xverse wallet.

Source: Magic Eden

Conclusion

Ordinal inscriptions have become increasingly popular in the cryptocurrency realm. To begin your journey into this space, some of the best marketplaces to consider include Gate.io, Ordswap, Ordinal Wallet, Gamma, Ordinals Market, and Magic Eden. These platforms offer user-friendly interfaces and features designed to assist you in navigating the complexities of crypto ordinal inscriptions and inscriptions. Whether you’re a novice or an experienced user, these marketplaces provide a conducive environment for exploring and engaging with the world of ordinal inscriptions.