Bitcoin Runes, a novel concept within the cryptocurrency realm, merge traditional symbolism with cutting-edge blockchain technology.
At its core, the Runes protocol utilizes Bitcoin’s UTXO model and the OP_RETURN opcode to create and manage fungible tokens directly on the Bitcoin blockchain.
Why are Runes the new big thing?
By leveraging Bitcoin’s inherent capabilities for on-chain data storage, Runes minimize network congestion and ensure transaction reliability. Instead of relying on off-chain data or specialized tokens, Runes are linked to UTXOs, streamlining the tokenization process.
Three key rituals define the Runes protocol:
- Etching: Defining a Rune’s properties, such as name and symbol.
- Minting: Creating new tokens based on etched properties.
- Transferring: Executing transfers through Bitcoin transactions with specified details.
In essence, Bitcoin Runes epitomize the fusion of tradition and innovation, offering a future where digital assets thrive within the technological landscape.
Step 1: Registration
Visit the CoinW Website:
follow this link to go straight to the onboarding portal. Click HERE!!
Enter Your Information
You’ll be prompted to provide some basic information to create your account. This typically includes your email address, a secure password, and sometimes your phone number. Make sure to use a strong password to protect your account.
Verification
Depending on CoinW’s requirements, you may need to verify your email address or phone number at this stage. Follow the instructions provided to complete the verification process.
Set Up Two-Factor Authentication (2FA)
For added security, CoinW may recommend or require setting up two-factor authentication (2FA). This extra layer of protection helps safeguard your account from unauthorized access.
Step 2 account setup
Access Your Account Dashboard
After successfully registering, log in to your newly created CoinW account using the email address and password you provided during registration.
Provide Required Documents
CoinW may require you to upload certain documents to verify your identity. This typically includes a government-issued ID (such as a passport or driving licence). Once complete the verification is almost instant.
step3 purchase runes
Deposit funds to your account
after successful KYC now you can deposit funds to your account through P2P or card purchase
Trade Runes tokens
CoinW has listed SATOSHI/USDT and RSIC/USDT. One of the biggest runes in the ecosystem. Happy trading.
Conclusion
we have covered a brief guide to your first steps in acquiring the highly lucrative runes tokens. With the simplest methods available. Take advantage of this opportunity and stay ahead of the curve. Join us for more at Crypto University.