Magic Eden Wallet is designed to be your ultimate cross-chain NFT wallet, prioritizing the safety and management of your digital collectibles. One of the unique features we offer is the Rare Sat Warning, which ensures you have full control and awareness when dealing with rare satoshis. In this article, we'll explain what the Rare Sat Warning is and how it helps you manage your rare satoshis effectively.
What is the Rare Sat Warning?
The Rare Sat Warning is a feature in the Magic Eden wallet that alerts users if they have rare satoshis (Rare Sats) in their payment address. These rare satoshis can be more valuable than regular satoshis due to their unique characteristics and collectible nature.
Why are rare sats important?
Rare sats, while often more sought after than regular satoshis, can vary in value. They can be collectibles in their own right, sometimes being worth more than their face value as satoshis. However, there are times when they might not hold significant value, and users may want to send them without realizing their rarity.
How does the Rare Sat Warning work?
When you initiate a send transaction from your payment wallet that includes rare sats, the Magic Eden wallet will display a warning. This warning serves several purposes:
Confirmation of intent: The warning will ask you to confirm if you want to send the rare sat range, ensuring you are aware of the rarity of the satoshis you are about to send.
Reminder of consequences: It will remind you that approving the transaction means you will no longer have access to these collectibles.
Details of the rare sats: The warning will show the type of rare satoshis and the amount included in the transaction.
Managing rare sats
Rare satoshis in your payment wallet can be used for transactions, including payment, transaction fees, or platform fees.
To prevent accidental spending of rare satoshis, it is recommended to keep them in your Ordinals (Taproot) address. This way, they remain secure and are not at risk of being unintentionally sent or spent.
Transaction options
When faced with the Rare Sat Warning, you have two options:
Reject transaction: You can choose to reject the transaction if you prefer not to send the rare satoshis.
Approve transaction: If you understand and accept the consequences, you can confirm and approve the transaction.
The Rare Sat Warning is a safety feature designed to give you convenience and control over your assets while ensuring the protection of your rare digital collectibles.
If you have any questions, feel free to reach out to our support team by clicking on the chat widget at help.magiceden.io.