Buying and selling Runes is actually pretty simple, and that makes this class of digital assets accessible to people of all experience levels. All you need to trade Runes is a marketplace, a compatible wallet, and some funds.
Read this step-by-step guide to learn how to buy and sell Runes.
What Are Runes?
Runes are fungible tokens that are created on the Bitcoin network using the Runes Protocol. The Runes Protocol uses Bitcoin’s UTXO model to create fungible tokens by encoding data into Bitcoin transaction outputs.
Runes are fungible tokens because every Runes is the same in form, function, and value to others of its kind. In contrast, each non-fungible token (NFT) is unique from all the others, even when they are generated using the same protocol.
The Runes protocol was launched in April 2024 and has since become one of the biggest token creation platforms on the Bitcoin blockchain. The tokens are created through processes called etching and minting, where etching refers to establishing the required settings, while minting is the actual creation and distribution of the tokens.
The popularity of the Runes tokens comes from the fact that they’ve quickly found two main use cases: utility tokens and memecoins.
Getting Runes is becoming increasingly simple, with the process taking only a few clicks. This makes working with the assets attractive even to those who are completely new to them.
How to Buy Runes (with Bitcoin), Step by Step
Use a marketplace that supports the Rune you want to buy. The steps below cover the buying process; each marketplace has its own controls and fees.
Find a Runes Marketplace
Choose a marketplace with active listings for your Rune. Check the token identifier, available liquidity, fees, and wallet compatibility before connecting.
Connect a Runes-Compatible Wallet
To be able to buy and store your Runes, you’ll need a Runes wallet. Some options are the Magic Eden Wallet, Xverse, Leather, OKX, and Unisat.
Fund Your Wallet
Top up your wallet with BTC to be able to buy Runes. Aside from the amount you’ll need for the purchase itself, make sure you have enough for transaction fees as well.
Select Your Runes
Choose the Runes token you want to buy.
You can choose from a list of memecoins or a utility token, such as LIQUIDIUM•TOKEN, to add to your portfolio.
Confirm the Trade
Review the Rune amount, BTC price, and fees, then sign the purchase transaction in your wallet.
Secure Your Runes
Once the transaction is complete, make sure everything is in order and that you’ve backed up your Runes wallet securely, so your tokens are stored safely.
Congrats! Now you own Runes tokens.
How to Sell Runes (with Bitcoin), Step by Step
To sell Runes, connect to a marketplace that supports your token and compare the available bids or listing options.
Connect Your Wallet to a Runes Market
Connect a supported wallet to your chosen marketplace and select the Rune you want to sell.
Make or Accept Offers
Enter the amount you want to sell, then create a listing or accept an available bid. Review the BTC proceeds and fees before signing the transaction in your wallet.
Receive the BTC
Once the transaction goes through, all that’s left to do is for you to receive your BTC in the connected wallet.
And you’ve successfully sold your Runes tokens!
Borrow Bitcoin Against Your Runes on Liquidium.WTF
Now that you own some Runes tokens, you can use them in several ways, including as collateral for borrowing BTC on the Liquidium.WTF app.
To do that, you need to first connect your wallet to the Liquidium.WTF platform. Then, scroll through the list to find the Runes you own and would like to put up as collateral, click on existing lenders’ offers on Liquidium.WTF to choose one you’re happy with, then borrow BTC.
Make sure you pay your loan back in time to get your Runes back, and that’s it!
Access Liquidium.WTF today and borrow BTC against Runes.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any financial decisions.
FAQ
How are Bitcoin Runes created?
Bitcoin Runes are created through a process called etching, where the basic Runes parameters are set, then minting, where these Runes are distributed to interested investors. The process of creating Runes is more or less straightforward, making them attractive to investors and devs of all experience levels.
What are the Runes on Bitcoin used for?
Bitcoin Runes can be used for many different purposes, but their two most popular uses are as utility tokens like LIQUIDIUM•TOKEN or as meme coins. They can also be used as collateral for lending on a platform like Liquidium.WTF.
What wallets support Runes?
Choose a wallet that supports Runes and your selected marketplace. To use Liquidium.WTF’s Bitcoin lending markets, connect with Xverse, UniSat, Leather, OKX, or Wizz Wallet.
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