Guide to Selling Bitcoin Ordinals on Magic Eden

This tutorial is for anyone looking to sell their Bitcoin Ordinals on the Magic Eden Marketplace.  We’ll walk you through the process of listing your inscription for sale and you’ll see how to track the progress of the transaction when it is purchased by another user.  Finally, you’ll see how to verify via mempool, Magic Eden, and your Xverse wallet that the sale of the Bitcoin NFT Ordinal finalized.  Bitmap is the Ordinals project used in our “how to sell on Magic Eden” tutorial below so let’s get started…

Here’s How to Sell Bitmap (or any Bitcoin Ordinals) on the Magic Eden Marketplace

In the example below, we’ll show you how we sold a Bitmap Bitcoin Ordinal on Magic Eden step-by-step.  Make sure to scroll all the way to the bottom to see our video example of the process as well.  To start the process, connect your Xverse wallet to Magic Eden by clicking on “Connect Wallet” at the top-right of the screen.  Click on Xverse, log into your wallet, and approve the connection to Magic Eden.

Next, click on your profile (top-right side of the screen) and click on “My Items”.

Choose the Bitcoin Ordinal in your portfolio that you’d like to list for sale.  In our example, we’re listing a Bitmap so we’ll go ahead and click on it.

Next, we’ll open the Bitmap project in another tab and check the current Floor Price to get an idea of how much $BTC we’ll ask for the Ordinal.  A project like Bitmap at the time of writing this is very liquid meaning the buy volume is high.  So, if we were to list it at the floor price, it would most likely sell immediately.  Therefore, we’re going to list it a little higher than the floor price to maximize our return on investment.

Before listing the Bitmap, open CoinGecko and go to the Bitcoin Converter tool to see the price in $USD.  Now that you have a good feel for the floor price, go back to the specific Bitmap Ordinal you’re going to sell.  In the “List Price” field, we’re going to enter .00097 BTC which is about 10% higher than the floor.  Before clicking the “List Now” button, double check that you entered the correct amount of $BTC in the List Price field as it’s easy to make mistakes if you go too fast.  After List Price is confirmed correct, go ahead and click “List Now”.

Your Xverse wallet will pop open and will ask you to confirm the transaction.  After clicking “Confirm” in Xverse, you’ll see a green message in the bottom-right of your screen that says “Your item has been listed”.

Monitoring the listing is your next step and to do that click on your profile and “My Items”.  Find the Bitcoin Ordinal you just listed for sale and click on it.  In this example, the Bitmap was purchased almost immediately and so it showed as “Pending” in My Items.  To monitor the transaction, we’ll click on the Bitmap that’s pending and see the following message…  “A transaction is currently pending in the Bitcoin mempool, awaiting network confirmation.  As a result, this item cannot be traded since the Ordinal is locked until confirmation or expiration occurs”.   You’ll also see a timestamp of when the transaction started.

Next, we’ll click on the link to Mempool.space where we’ll monitor the progress of the pending Bitcoin Ordinal sale.  The transaction will most likely show as “Unconfirmed” for at least the first 5 minutes.  At this point, you simply need to kick back and wait for mempool to show a couple confirmations.  The time it takes for an Ordinals transaction to be confirmed depends on how busy the Bitcoin network is at the time it started.  In most cases, it usually takes at least 15 to 20 minutes and sometimes longer.

Once it turns green and says “confirmed”, go back to the Ordinal you sold on Magic Eden and refresh the page.  It will most likely say “Inscription not listed for sale”.

Scroll down to “Activities” and you’ll see that the Bitcoin Ordinal was transferred from your Xverse wallet to the buyer’s wallet address.

The final step is to open Xverse, click on BTC, and you’ll see your Transaction History.  It will show the amount of Bitcoin you received from the sale of your Ordinal.

Watch our video below showing an actual example of selling a Bitmap Bitcoin Ordinal on Magic Eden…

Thanks for taking time to check out Stouy Crypto and please use the Comments section below if you have any questions.