Top 5 Best Platforms to Trade Bitcoin Runes

Cryptocurrency exchange OKX added support for runes shortly after the Bitcoin halving. This means users can now mint, create, trade, and manage Runes on the OKX Marketplace. OKX was one of the crypto exchanges to provide zero-fee Runes trading on mobile. The exchange supported several Runes tokens, such as WZRD, GOODS, and UNCOMMON. OKX has listed over 40 Runes.

NFT marketplace, Magic Eden, was among the first to make room for Bitcoin Runes on its platform. Although the platform is still in its beta phase, it will make it easier for users to trade Bitcoin Runes. New tokens like runes are often complex for newbies since there’s little known about them. But Magic Eden seeks to simplify the trading process and provide a smooth experience. 

Magic Eden introduced lots of new features on its Runes platform to make it easier to buy Runes. The platform offers a table view. This way, users can select specific items and prices that suit their needs. The platform plans to include a swap view, which will provide an easier way to transact. This feature will automatically match users with the ideal buying option based on how much bitcoin they plan to spend. Magic Eden does not currently offer “etching” or minting of runes. However, the platform intends to work with Luminex to include these features in future versions.

Bitcoin service provider, Unisat, recently announced support for Bitcoin Runes. Some of the supported features include mint, etching, marketplace and Runes Manage. UniSat provides services that focus on the Bitcoin network, such as BRC20 and Ordinals. In the early days, UniSat was the biggest exchange for Runes trading.

Whales Market is another good platform to trade Bitcoin Runes. Although trading on this platform has gained as much traction as on other platforms, Whales Market is a decent alternative. Using a cross-chain hybrid strategy, Whales Market creates and matches orders on the Solana network and settles transactions on both Solana (for collateral) and Bitcoin (for runes tokens). Whale Market users can currently access RSIC, the native token of the Runecoin project. The platform plans to expand its support for runes tokens in the coming months.

Gate.io has listed three of the first runes tokens following the Bitcoin runes hype. The centralized exchange quickly dived into the runes market by listing SATOSHI•NAKAMOTO MEME•ECONOMICS, and WANKO•MANKO•RUNES. The launch of these runes was a historic moment on the Bitcoin network, pushing fees to unseen heights in a few hours. Many believe that the presence of centralized exchanges such as Gate.io adds credibility to the budding runes market. It snatches bitcoin runes from belonging to the degens aspect of the market and gives them mainstream appeal.

Bitcoin ordinals were one of the breakthrough inventions of the Bitcoin Network. Think of them like NFTs for the Bitcoin Network. Thus, Runes are an evolution of ordinals. They make it even easier to create fungible tokens on the Bitcoin chain. Rune, by every standard, is a better and more advanced way of creating fungible tokens on Bitcoin. The Runes Protocol operates via Bitcoin’s UTXO. This helps in reducing network congestion. The emergence of Bitcoin Runes is an addition to the broader Bitcoin community, as it could increase adoption. It also provides newer ways for users to earn. However, it is important to note that Bitcoin Runes are still in their early stages. This means there could be severe fluctuations in both demand and price.