2023 was a big year for the Bitcoin ecosystem in terms of development. The year began with the launch of the Bitcoin Ordinals protocol by Casey Rodarmor in January 2023, which paved the way for the creation of various BCR-20 tokens, adding more utility to the network.
In September 2023, Rodarmor went ahead to propose a new protocol, the Runes Ordinals protocol, that would be dedicated to fungible tokens, providing a much-needed solution to the Unspent Transaction Outputs (UTXOs) issue facing BRC-20 tokens.
In this guide, we’ll take a look at what Bitcoin Runes is and review the best Bitcoin Runes wallets in the market.
What Are Bitcoin Runes?
Bitcoin Runes is a fungible token protocol, which is better and simpler in comparison to the BRC-20 token protocol, designed for the Bitcoin blockchain. The Bitcoin Runes protocol provides an alternative approach to existing fungible token standards by substituting the ordinal technology with a UTXO foundation.
Although the BRC-20 token standard enabled users to create fungible tokens on Bitcoin and gained a lot of traction after its launch, it also contributed to the excessive creation of “junk” UTXOs that ended up jamming the network.
The Bitcoin Runes protocol was created to solve this issue by preventing the creation of “junk” UTXOs on the Bitcoin blockchain by offsetting them.
Additionally, the protocol was created with users in mind, which makes it less complex to implement compared to other token standards. Tokens generated using the Runes protocol will also feature distinct metadata and characteristics.
Now that we know what Bitcoin Runes is, let’s take a look at a list of the best Bitcoin Runes wallets.
Top 3 Best Bitcoin Runes Wallet
To help you choose a secure and reliable Runes wallet, we have evaluated the top three Runes Ordinals wallets, Xverse, Ordinals Wallet, and OKX, you can consider getting.
Xverse
The Runes wallet by Xverse is arguably the best Bitcoin Runes wallet in the market, as it provides the most features and easiest user interface.
Xverse enables you to manage, send, store, and receive Bitcoin (BTC), Bitcoin Runes, BRC-20 tokens, and more. In addition, it allows users to interact with various decentralized applications (dApps) built on Bitcoin.
The wallet also supports Bitcoin Ordinals inscriptions and Stacks-based digital assets, such as STX, STX-20 tokens, and NFTs.
The Xverse wallet is available as an app for Android and iOS users and as a browser extension on Chrome. It features a simple interface that’s easy to navigate for both new and experienced users and can be connected to hardware wallets.
Pros
- Hardware wallet connectivity: Xverse users can connect their Xverse wallet to a hardware wallet like Ledger or Trezor to better secure their crypto assets.
- Platform accessibility: Xverse is available on various platforms, which makes it easily accessible for users.
- Stacking: Users can earn BTC by stacking their STX tokens in a pool with other STX holders.
- User-friendly: The Xverse wallet features a simple interface that’s easy to use.
Cons
- No advanced charting tools for traders: Experienced traders looking for chart analysis tools will be disappointed.
Ordinals Wallet
Ordinals wallet is a user-centric wallet built for the Ordinals ecosystem. Like Xverse, Ordinals Wallet supports Bitcoin Runes tokens and Ordinals inscriptions. Users can store and view their Runes tokens within the wallet.
Ordinals Wallet is an open-source wallet that’s easy to use and built with the user in mind. It is, however, only available as a desktop wallet.
Pros
- User-friendly: The wallet has a user-friendly interface thanks to its intuitive design, which makes it accessible to a wide range of users.
- Integrated marketplace: Ordinals Wallets features a marketplace within the wallet. This simplifies the process of trading crypto assets for users.
Cons
- Platform accessibility: Ordinals Wallet is currently available as a desktop application only.
- No advanced charting tools: Experienced traders looking for chart analysis tools will be disappointed.
OKX
OKX Wallet is the final Runes wallet on our list. As a multi-chain wallet, OKX supports Bitcoin Runes and easily integrates with the Bitcoin network, allowing users to transfer and view their Bitcoin Runes tokens within the wallet.
Moreover, OKX also supports Bitcoin Ordinals inscription. OKX users can also engage with various dApps within the wallet. It’s also available on multiple platforms, including as an app for both Android and iOS users, as a desktop application, and as a browser extension on Chrome.
Pros
- Cross-chain interoperability: OKX provides cross-chain interoperability to over 50 chains, which eradicates the need for users to own multiple wallets
- Platform accessibility: OKX is available on multiple platforms, making it accessible to users
Cons
- Not beginner-friendly: OKX features some advanced features that may make the wallet somewhat daunting for new users
Getting the right Bitcoin Runes wallet can help enhance your experience, especially when exploring and interacting with the Bitcoin Runes ecosystem.
Ensure that you consider factors such as ability to interact with various dApps, compatibility with hardware wallets, ease of wallet use, and security when choosing a Runes wallet.
Founder Dinis Guarda
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