Step-by-Step Guide to Snipe Ordinals Using the Instant Snipe Tool

Navigating the world of Bitcoin digital asset trading can be daunting, especially when dealing with fast-paced environments like Bitcoin marketplaces. This blog post will provide a detailed guide on utilizing the Instant Snipe Tool to effectively acquire pending listings on MagicEden. Here’s a step-by-step breakdown:

Video version here:

Navigate to Pending Listings

The first step involves getting to the right place within the MagicEden platform:

• Access MagicEden: Open your browser and navigate to the MagicEden website.
• Select the ‘Pendings’ Section: On the homepage or under the market section, locate and click on the ‘Pendings’ tab.
• Choose Your Listing: Browse through the available pending listings and click on the one you are interested in.

Copy Transaction ID

Once you have identified a pending listing of interest:

• Access Transaction ID: Click on the listing to view more details. Here, you will find the transaction ID.
• Copy the Transaction ID: Click on the transaction ID link or number, then copy it to your clipboard.

Use the Magisat Instant Sniping Tool

With the transaction ID copied, you’re ready to use the sniping tool:

• Navigate to Magisat Tools: Open a new tab and go to the Magisat Instant Sniping Tool website or click here.
• Enter Transaction ID: Paste the copied transaction ID into the designated field on the sniping tool’s page.
• Initiate Snipe: Click the “Submit” button to proceed with the sniping process.

Select and Buy

Upon submitting the transaction ID, follow these steps to finalize your snipe:

• Adjust Transaction Settings: A confirmation window will appear, allowing you to adjust necessary settings such as gas fees (number of sats per vb).
• Confirm Purchase: Review your settings and confirm the purchase by clicking the “Buy Listing” button.

Confirm Transaction

The final steps involve confirming and monitoring your transaction:

• Wallet Confirmation: Confirm the transaction request in your wallet.
• Wait for Block Confirmation: Monitor the transaction until the block confirms.
• Check Outcome: After confirmation, check the Mempool and your wallet to see if the listing has been successfully acquired. If you find that you were out-sniped, you may need to repeat the process for same listing.

Conclusion

By following the steps outlined in this guide and using tools like Magisat, traders can increase their efficiency and success rate in the fast-paced world of Ordinals and digital asset trading. Always ensure you are familiar with transaction fees and market conditions as these can significantly affect the outcome of your sniping efforts. Happy trading!