Bitcoin Ordinals: The Complete Guide (NFTs, Runes) 2026

NFTs are digital assets that can be bought, sold, and collected just like cryptocurrencies. They are digital assets typically represented and secured by a specific blockchain. They can be artwork, music, collectible cards, or even in-game items. In this complete guide, we’ll dive into one very specific category of NFTs: Ordinals, also known as Bitcoin Ordinals.

While many blockchains natively support NFT creation (Ethereum, Solana, Polygon…), the Bitcoin blockchain was not originally designed for that purpose. It was conceived as a secure ledger for peer-to-peer transactions. Yet Bitcoin developers managed to extend its capabilities to make room for what we now call Ordinals.

Bitcoin Ordinals: 3 Key Points to Remember

• Bitcoin Ordinals are created through a process known as inscription, by imprinting an Ordinal onto a satoshi (the smallest unit of Bitcoin, one hundred-millionth of a BTC).
• These “NFTs” on Bitcoin are as popular as they are controversial: they triggered a sudden spike in BTC transaction fees and continue to fuel a deep debate within the community.
• When the protocol launched in early 2023, inscriptions numbered a few hundred thousand. The counter has since passed 90 million inscriptions by early 2026, and the sister protocol Runes has become the main driver of “metadata” activity on Bitcoin.

Bitcoin Ordinals: Definition and How They Work

Bitcoin Ordinals are non-fungible tokens (NFTs) inscribed directly on the Bitcoin blockchain. They are created through an inscription process using the Ordinals protocol. Each Bitcoin NFT carries a serial number, or ordinal, engraved on a unique satoshi. This number gives each digital asset its rarity and its potential value.

The term “inscription” refers directly to the idea of a bookkeeping entry, the way you would record an entry in a ledger.

NFTs on the Bitcoin blockchain were made possible by several protocol upgrades. These improvements make complex transactions harder to tell apart from one another, standardize their appearance, and leverage technologies such as SegWit, Taproot, and layer-2 payment channels (Lightning Network). The result: expanded blockchain capabilities and smaller transaction sizes.

In practice, creating NFTs on Bitcoin became possible with the official launch of the Ordinals protocol in January 2023 by developer Casey Rodarmor.

One month later, Yuga Labs (the creators of the famous Bored Ape Yacht Club) announced the launch of its Bitcoin NFT collection, TwelveFold, marking the arrival of the NFT space’s biggest players on Bitcoin. This 300-piece collection, presented by Yuga Labs as an experiment, raised around $16.5M at auction; the physical editions were distributed in 2024. Bitcoin NFTs are also called Bitcoin Ordinals or Ordinal NFTs.

How Do Bitcoin Ordinals Work Technically?

Each NFT inscribed on Bitcoin contains an “inscribed” satoshi carrying a unique serial number. Every satoshi thus has an individual identity, which makes it possible to trade it and track it precisely on the blockchain.

1. To create a Bitcoin Ordinal, you need to access Bitcoin Core and sync a full Bitcoin node.

2. Next, you create an Ordinals wallet and fund it with satoshis.

3. The “ord” client must be installed on the Bitcoin node to register satoshis and create BTC NFTs — in other words, Ordinals.

If you would rather avoid code, an alternative is to create your Ordinal through no-code solutions such as UniSat, OrdinalsBot, or Gamma. These platforms offer the inscription feature in just a few clicks, accessible to everyone.

Ordinals vs. Traditional NFTs: What Are the Differences?

A Bitcoin Ordinal is entirely comparable to traditional NFTs as a digital asset. However, it stands apart through its direct inscription on a satoshi, the smallest unit of Bitcoin. These inscriptions became possible thanks to Bitcoin’s Taproot upgrade, deployed in 2021.

Traditional NFTs are available on many marketplaces (OpenSea, Magic Eden, Blur…). In their early days, in 2023, Ordinals traded mostly through Discord, Telegram, and a few select marketplaces. That is no longer the case: the market has become fully professionalized and now runs through dedicated platforms such as Magic Eden, Unisat, and Xverse (more on this below).

Bitcoin Ordinals differ from Ethereum NFTs and those of other blockchains in several essential ways:

1. NFTs on Bitcoin are 100% on-chain digital assets. This makes them authentic and strictly unique.
2. Thanks to the Ordinals protocol, inscriptions on Bitcoin are immutable: the full file is stored directly on the blockchain. By contrast, Ethereum NFTs can sometimes be modified or deleted because they are not truly on-chain. An Ethereum NFT’s metadata usually contains a link to the file rather than the file itself. For them to be genuinely immutable, they need to be audited.
3. Ordinals inscription fees depend directly on the file size.
4. The content cannot be lost. With off-chain NFTs stored on IPFS, the content can disappear if the hosting server is no longer active.
5. PSBTs (Partially Signed Bitcoin Transactions) make it possible to trade Ordinals without an intermediary. Ethereum NFTs, on the other hand, generally pass through intermediary platforms that require sometimes unlimited approvals on your wallet.

The Bitcoin Inscription Process Explained

When an NFT is inscribed on Bitcoin, its content data is written into an authentication signature within a specific Bitcoin transaction. This authentication signature (called the “witness”) was made possible by the SegWit upgrade deployed in 2017. Inscriptions are therefore on-chain, unlike the majority of NFTs, which are created off-chain.

Around 200,000 Bitcoin Ordinals had already been “inscribed” by the end of February 2023. The number then grew at a blistering pace: over 660,000 by late March 2023, roughly 52 million by the end of 2023, nearly 70 million in September 2024, then past the 80 million mark in February 2025. By early 2026, the count exceeds 90 million inscriptions.

Runes: The Sister Protocol That Changed Everything in 2024

It’s impossible to talk about Ordinals today without mentioning Runes. Launched by Casey Rodarmor — the creator of Ordinals himself — on the day of the April 2024 Bitcoin halving, Runes is a fungible token standard on Bitcoin. Where Ordinals create unique assets (NFTs) inscribed on a satoshi, Runes is used to issue fungible tokens directly on the Bitcoin blockchain, in a more efficient and cleaner way than the experimental BRC-20 standard that preceded it.

In practice, Runes has become the main driver of “metadata” activity on Bitcoin: a large share of the fees paid to miners (and therefore of the pressure on block space discussed in the controversies section) now comes from Runes activity. If you hear about “memecoins on Bitcoin,” it is almost always Runes.

The one-sentence takeaway: Ordinals = NFTs / unique objects on Bitcoin; Runes = fungible tokens on Bitcoin. Both protocols come from the same author and coexist within the same ecosystem of wallets and marketplaces.

The Advantages of NFTs on Bitcoin (Ordinals)

Just a few weeks after the launch of Ordinals, hundreds of thousands of NFTs had already been created on the Bitcoin blockchain. That speaks to the tremendous traction this protocol enjoyed. Ordinals rely on PSBT technology (Partially Signed Bitcoin Transaction), regarded as secure and trustless.

Trades take place without an intermediary, for a moderate marketplace fee — around 1.5% on purchases on Magic Eden, which applies a no-listing-fee model. Historically, the creator only received a commission on the first sale, but modern marketplaces now also handle royalties on secondary sales, as on Ethereum marketplaces.

Bitcoin Ordinals: Controversies and Criticism

The crypto community was buzzing after the launch of Bitcoin Ordinals, but not all of the attention has been positive…

Since its creation in 2009, the Bitcoin blockchain has essentially been used for BTC transactions. This is largely explained by the network’s unique structure and its limited block size (1 MB originally, extended to roughly 4 MB with SegWit).

While Bitcoin NFTs spark strong enthusiasm, they also trigger fierce criticism. There are concerns about the impact of Ordinals — and now Runes — on available block space and on smooth transaction processing. Since some NFTs embed games, audio clips, or images, file sizes can be far larger than those of simple financial transactions. Opponents fear that Bitcoin confirmation times and transaction fees could explode because of the pressure on block space.

Bitcoin’s Fungibility Called Into Question

Opponents of Bitcoin Ordinals argue that every satoshi should hold the same value. As the smallest unit of the Bitcoin currency, their equality is one of the very foundations of money: fungibility. Yet NFTs on Bitcoin use precisely this unit to inscribe data, which gives each NFT its uniqueness and rarity. The value of each Bitcoin NFT becomes unique — no longer equal to other satoshis — which calls bitcoin’s fungibility into question… And that argument is not wrong!

The Cost for Bitcoin Node Operators

Until the launch of Ordinals, the average block size on the Bitcoin blockchain hovered around 1.5 MB. That figure was shattered after the protocol launched, with blocks regularly hitting the 4 MB limit. Some members of the Bitcoin community fear that the costs and technical requirements of running a node (disk space, bandwidth…) could soar.

Ordinals supporters counter that blocks actually need to be filled to maintain the economic security of the Bitcoin network (incentivizing miners through fees). Even though fees may rise, they believe a more secure network is worth it. This is precisely the debate that has gained momentum since the arrival of Runes, which generates a growing share of the fees paid to miners.

How to Buy and Trade Bitcoin Ordinals?

Bitcoin Ordinals can only be bought and sold with Taproot-compatible wallets: Xverse, Leather (formerly Hiro), UniSat, Magic Eden Wallet, or Ordinals Wallet. If the concept of a self-custody wallet is still fuzzy to you, our guide to creating a hot wallet lays the groundwork (key management, security) before you start handling inscribed satoshis. Before diving into this world, you will need a bit of BTC: most traders first go through a regulated, reliable platform such as OKX to buy their bitcoins, then transfer them to an Ordinals-compatible wallet.

Also remember that NFT markets are unregulated peer-to-peer marketplaces. Users can fall victim to scams just as they can on traditional NFT markets. You should therefore apply exactly the same security precautions (verifying contracts, watching out for fake links, separating wallets, and so on).

While caution remains essential, the trading process has now become simple and professionalized. Magic Eden has established itself as the dominant marketplace for Ordinals and Runes, with a market share of around 70%. Alongside it, Unisat, Xverse, and Leather rank among the go-to platforms. A far cry from the Discord servers of the early days.

As a bit of history, Magic Eden opened Ordinals support as early as March 22, 2023, in response to the rise of NFTs on Bitcoin. The same platform has since integrated Runes, becoming the one-stop shop for Bitcoin’s “metadata” ecosystem.

Bitcoin Ordinals: Good Deal or Trap to Avoid?

Bitcoin Ordinals, like NFTs in general, will surely be a source of income for some savvy investors. For others, they will most likely turn out to be an outright scam or a total-loss investment.

It is important to approach this technology the way an art dealer would, especially when speculation is involved. That approach is just as relevant for off-chain NFTs. Risk management remains the golden rule, as with any speculative investment.

My advice: look for exceptional quality — projects backed by solid artists or teams, with a real chance of gaining value over time for the right reasons. Avoid impulse buys driven purely by FOMO. If your goal is above all to accumulate Bitcoin in a disciplined way rather than speculate on illiquid assets, a DCA (dollar-cost averaging) approach is often far healthier than chasing whatever Ordinals happen to be trending.

Ordinals Has Spawned Offspring: Runes, ETHscriptions, and Other Inscriptions

The success of inscriptions on Bitcoin has spread. The most significant offshoot has remained on Bitcoin itself with Runes (see the dedicated section above). But other ecosystems followed: ETHscriptions, along with inscriptions on the BNB Chain and Polygon, appeared in the wake of the success of inscriptions on the Bitcoin blockchain.

In fact, inscriptions can now be made on most EVM-compatible blockchains. Smaller players offer various types of inscriptions as a result, sometimes close to the Ordinals concept, sometimes more creative.

As for ethscriptions.com, feel free to check it out: it is the most polished Ethereum equivalent to date.

FAQ: Bitcoin Ordinals

What Is the Difference Between Ordinals and Runes?

Ordinals are used to inscribe unique assets (NFTs, images, files) on a satoshi: each inscription is non-fungible. Runes, launched in April 2024 by the same developer, is used to issue fungible tokens on Bitcoin (the modern, more efficient equivalent of BRC-20). In short: Ordinals for the unique, Runes for the interchangeable.

Where Can You Buy Bitcoin Ordinals?

The go-to marketplace today is Magic Eden (≈ 70% market share on Bitcoin), followed by Unisat, Xverse, and Leather. You need a Taproot-compatible wallet and a bit of BTC, usually bought beforehand on a regulated platform such as OKX.

What Are the Fees on Ordinals?

Two types of fees coexist: Bitcoin network fees (variable, proportional to the size of the inscribed file) and the marketplace commission. On Magic Eden, expect around 1.5% on purchases, with no listing fees.

How Many Ordinals Have Been Inscribed to Date?

The counter has gone from a few hundred thousand in early 2023 to over 90 million inscriptions by early 2026. Growth is driven by Ordinals (NFTs) and also — above all since 2024 — by activity on the Runes protocol.