Exchange Ordinals (ORDI) at the Best Rates

Ordinals (ORDI): The Controversial Project Takes Off

The Ordinals protocol has taken over the crypto world. The new technology, which has already amassed over 9,000,000 inscriptions, allows any data to be inserted on the Bitcoin blockchain. The Ordinal Token (ORDI) has made history by recording a staggering $93 million trading volume within just 12 hours after its first-ever centralized exchange (CEX) listing. Let’s take a closer look at one of the newest projects.

What Is Ordinals (ORDI)?

In short, Ordinals is a new cryptocurrency project that contains information such as text and images presented as NFTs and tokens using inscriptions written on the Bitcoin protocol. According to the official website, Ordinals (ORDI) is a ‘numbering scheme for satoshis that allows tracking and transferring individual satoshis.’ Satoshis are an ordinal number encoding using the letters A through Z. 

ORDI is a cryptocurrency that runs on the Bitcoin blockchain using inscriptions. Text, photos, sound, and video may all be written to the smallest unit of Bitcoin, satoshi, according to the ORDI protocol. The Ordinals protocol, which has a total of 2.1 quadrillion satoshis in Bitcoin, opens up new use cases in the form of NFTs and tokens.

Today, Ordinals allow art to be saved on the world's most secure blockchain, rather than in external databases where it can be manipulated. Inscribing on satoshis has been made possible thanks to the Taproot upgrade launched on the Bitcoin network on November 14, 2021.

The advantages of Ordinals (ORDI) Coin are: 

1. Creating new use cases using the Bitcoin protocol.
2. Presenting information such as text and images as NFTs and tokens.
3. Attracting attention as a new and unique cryptocurrency.

Taproot Upgrade: Making Inscriptions Possible

Taproot allows all parties in a transaction to work together to make these complex transactions appear to be conventional, person-to-person transactions. They accomplish this by merging their public keys to form a new public key and their signatures to form a new signature. This is accomplished using a technology known as Schnorr signatures.

The Taproot patch also scrambles transactions with single and multiple signatures, making identifying transaction inputs on Bitcoin's blockchain more difficult. Taproot improves anonymity while reducing the amount of data required to create them, lowering transaction costs that have risen dramatically as Bitcoin has grown in popularity. Ordinals can be a complicated process due to the size of the Bitcoin blockchain and the need to use the Command Line (Windows) or Terminal (Mac/Linux). 

Bitget and Ordinals

At the beginning of May, Bitget, the top derivatives and copy trading platform, announced the listing of the ORDI token in the newly launched BRC-20 zone and has also revealed plans to bring other promising BRC-20 tokens to its platform.

BRC-20 is a Bitcoin coin built on the Ordinals protocol that allows users to put content to each Satoshi, such as text, photographs, audio, and video, among other things. Despite the Bitcoin block size limit, the protocol attempts to inscribe information primarily in the form of NFTs and tokens on the BTC chain. Users will be able to build and manage more efficient and secure blockchain-based assets with the launch of BRC-20 and Ordinals.

Ordinals Wallet and ORDI Token

The Ordinals protocol has already gained significant traction in the crypto space. In addition to Bitget, the Ordinals token is live on many centralized exchanges, including Crypto.com, which listed the asset in their Crypto.com App. The Ordinals project also offers a brand new Ordinals wallet for inscribed Bitcoins. The wallet recently went through a major update, which included a new tabs design and filter UX in addition to an improved UI.

The $ORDI token is designed to offer users a secure and decentralized way to exchange value within the Bitcoin network. As $ORDI is fully backed by Bitcoin, $ORDI token is worth one satoshi. Thereby, ensuring that the token remains stable and secure while providing users with the benefits of a decentralized and secure token.

The protocol makes it possible to represent nearly any asset on the Bitcoin blockchain by permitting the generation of unique identifiers for a wide range of assets. As a result, new opportunities for secure and transparent transactions, peer-to-peer trade, and even the development of decentralized markets have emerged.

The project has only started out, but it will be curious to watch it evolve and change the NFT landscape by creating a new paradigm for buying, selling, and trading digital assets in a decentralized, transparent, and secure way.

Where to Buy Ordinals Crypto?

How to get ORDI coin? There are many exchanges where one can buy Ordinals (ORDI), and StealthEX is one of the safest options. This platform offers users to get ORDI token with no extra fees and with the best floating and fixed rates. This cryptocurrency is always freely available for purchase via StealthEX. Just follow the guidelines below. Let’s imagine you want to exchange BTC for ORDI, that is, to use its Bitcoin to Ordinals exchange. To make an exchange, you need to take a few simple steps.

First, you should choose Bitcoin in the left drop-down list. Then choose Ordinals (ORDI) in the list of coins on the right. After setting the pair it is necessary to enter the amount of BTC you want to exchange. Here you will see the estimated amount of ORDI that you will receive after the exchange. Now, when everything is set, press the Start Exchange button and you will be taken to the next page.

In the second step, you need to provide the Ordinals recipient address. The recipient address must match the crypto you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.

As soon as you have carefully checked all the details, you can press the Next button and you will be redirected to the Confirmation page.

Here you can revise the address provided and the amount of ORDI you will receive. Don’t forget to read and check the Terms of Use and Privacy Policy box. Without checking the box you will not be able to continue the exchange. Pressing the Next button you will be redirected to the Exchange page. 

At first, you will see the address where you need to send your Bitcoin to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.

ORDI Coin Exchange Statuses

After sending BTC coins to the shown address, the information on the Exchange page will be renewed automatically. The Exchange page has several statuses that will change during the time of the exchange. 

1. The first status is Awaiting deposit.
2. The following status is Confirming. This means that StealthEX is confirming the transaction you made.
3. The next status is Exchanging. During this time the exchange is being made.
4. Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes until you receive your Ordinals (ORDI).

Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive crypto to the address provided. To be sure that $ORDI crypto was sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.

From here you can either create a new exchange on StealthEX or leave the page and check your Ordinals wallet to be surprised at how fast you get ORDI sent to your address. Usually, the process is quite rapid so you won’t need to wait long: Ordinals swaps are processed in a matter of minutes. 

As you can see, exchanging Ordinals via StealthEX is simple and effortless, and as this crypto project may see new developments in the future, $ORDI may become an attractive investment.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.