How to mint a token or NFT (ORDINAL) on BSV
It’s all child’s play once you review the steps below. To mine a token or an NFT on BSV20, you need a very small amount of BitcoinSV (BSV).
To mint a token costs $0.001, the costs for minting an NFT (Ordinal) starts from $0.01 depending on the size/weight.
The steps not covered below is how to purchase BSV on Kucoin.com. Here you will find a full explanation of how to register yourself on Kucoin.com and purchase BSV there.
HOW TO MINT ON BSV20
Below are the steps required to mine a BSV20 token or NFT.
⚠️ Always keep your backup phrase in a safe place where only you know its location! This is because someone who has access to your backup codes has access to your tokens/NFT! ⚠️
STEP 1 // CREATE A WALLET
Go to 1SatOrdinals.com. Once you click on the pages you will see the notification that you need to create a wallet. Click on this notification and select “Generate Wallet”. Safe the backup code/phrase on a secure place! You will need this to acces your tokens and NFTs!
STEP 2 // BACKUP AGAIN
Once a wallet is created you need to back it up again at the bottom of the wallet by clicking on “Backup Keys”. You then get the option to download a JSON file. You need this file to login to 1SatOrdinals in another browser. Keep this file in a safe place and do not share it with anyone!
STEP 3 // ADD FUNDS (BSV)
Should you not yet own BitcoinSV (BSV), you will need to purchase it on an exchange such as Kucoin.com. Once you have BSV in your possession you can send it to your 1Sats wallet. The address of your 1SatOrdinals wallet can be found by clicking on “Add Money”.
STEP 4 // MINT BSV20 TOKEN
The time is now when you can start mining. In the website menu, you will see the “Market” option. Once you click on this you will be taken to a new page with the option “BSV-20 Tickers”.
Click on this and you will see an overview of all BSV20 tokens. The tokens where the supply is “available” can be minted. You do this by clicking on the token of your choice, selecting the option “Mint” and on the next page under “Amount” the maximum number of tokens you can mint.
The maximum number of tokens you can mint each time is listed at the top right of the field where you can enter the amount.
STEP 5 // CREATE ON BSV20
If you would like to create your own token or minify NFT you can choose the “Inscribe” option from the menu. You will then be given the option to mine an “Image”, “Text” or “Token”. The video above shows how to create this. And that’s it, you’re now a BSV20 pro who can mint tokens and/or NFTs!
STEP 6 // FOR YOUR INFORMATION
- It’s all new. The 1SatOrdinals platform came online the last week of May ’23 and everything is still in its early stages. Take this into consideration should you run into certain problems, everything will continue to evolve in the coming months.
- There may be a delay in processing the blocks on the blockchain where your mint transaction is stored. As a result, it may take some time before your minted tokens are listed in your balance. This can take up to 24 hours!
- It sometimes happens that a mint is rejected. Should you receive an error message, refresh the web page where you enter the number of tokens several times before minting a token.
- Sharing is caring; you are witnessing a new development that is still at the beginning. Share the opportunity to participate so early with everyone you love. The cost for minting is only pennies and BSV(20) offers humanity the opportunity to see all that blockchain is capable of without having to pay deeply for it. Spread the word!
- Show some love to the developers of 1SatOrdinals by following their Twitter and participating in conversations on Discord!