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Brendon Lim
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ORDI now available on Coinhako

ORDI now available on Coinhako

We are thrilled to share that (ORDI) is now listed on Coinhako!

What is ORDI?

ORDI is a cryptocurrency distinct from the Ordinals project. It's the first token on the Bitcoin network using the BRC-20 standard, which enables token issuance without directly involving Ordinals functionalities. 

Despite its name, ORDI is primarily a meme coin with only a conceptual link to Ordinals. Inscribed on March 8, 2023, ORDI quickly gained popularity. By May 2023, it was listed on exchanges, reaching a $348 million USD market value and becoming the highest-valued BRC-20 token with a $68 million market cap. This success contributed to the growth of Bitcoin-based tokens.

There is a total supply of 21,000,000 ORDI, and at its peak, ORDI traded for US $96.17. 

How does ORDI work?

ORDI uses the Bitcoin Ordinals Inscription protocol, embedding data into Satoshis without smart contracts. Inscriptions are made directly on the Bitcoin network, linking each token to a specific Satoshi. This approach transforms Satoshis into collectible assets, offering vast tokenization potential within Bitcoin's 2. 1 quadrillion Satoshis. 

Ordinals enrich the Bitcoin ecosystem by integrating digital art and collectibles, expanding its use beyond financial transactions. However, due to Bitcoin's block size constraints, data types are mainly limited to text and images.

Why does ORDI stand out?

ORDI, using Bitcoin Ordinals Inscription, transforms Satoshis into digital information carriers, revolutionizing Bitcoin's use. Key applications include:

1. Digital art NFTs: Artists create unique, verifiable works on Satoshis. 

2. Secure data storage: Embedding text and images for immutable information sharing. 

3. Asset tokenization: Representing real-world assets digitally on the Bitcoin network. ORDI expands Bitcoin's utility, offering innovative solutions in art, data management, and asset digitization.

What can you do with ORDI on Coinhako?

ORDI will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

  1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
  2. Purchase ORDI instantly with Visa / Mastercard 

Please note that the sending and receiving of ORDI will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

  1. Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

Visit: Coinhako.com/risk-disclosure for more information.