Wallet Settings

You can use any wallet tool that supports the Ordinals ecosystem. Xverse, Magiceden Wallet, etc. You need Mnemonic(12 words secret recovery phrases) to send bids with NFTinit. Let's show you how to get them for Xverse and Magic Eden Wallet.

We use Mnemonic because, SegWit and Taproot , all two Bitcoin account types remain interoperable. Here’s how they work to one another in some specific areas:

  • Transaction fees: Taproot is more expensive than SegWit, because Taproot transactions contain more data. You need Taproot wallets(bc1..) to recieve your Ordinals NFTs. You need Segwit wallets(3...) to pay with low tx fees to buy Ordinals NFTs.

  • Transaction settlement speed: Transactions settle faster on SegWit than on Taproot. SegWit also supports batched transactions.

  • Adoption: SegWit is also widely supported by exchanges. Taproot has the least adoption so far, being that it is the most recent of all two account types. So you will need Segwit wallet for BTC funds transfers.

XVERSE

Go to wallet settings and choose

Choose Backup Wallet

Then click show and save your Mnemonic(12 words secret recovery phrases)

MAGICEDEN WALLET

Go to wallet settings and choose

Click to Security

Then choose Back Up,reveal and save your Mnemonic(12 words secret recovery phrases)

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