Ever wanted to make a bid, or instantly sell runes? Well now you can! Collection Bids for Runes are now available on Magic Eden.
At this point in time, collection bids are supported for a limited number of collections. We will be adding more collections in the near future.
Making a Collection Bid
1. Start off by connecting your wallet on Magic Eden.
2. Next, navigate to your Bidding Wallet (not Auction Wallet) and deposit your desired amount of BTC.
3. Navigate to the Runes Collection Page.
4. On the right panel, under the “Buy” window, you’ll see a new tab that says “Place Bid”.
5. Here is where you can place your runes collection bid. Input the number of runes you want to buy, and set your bidding price per rune (in sats). Note that Mempool Transaction Fees are paid by the taker (seller).
Note: The minimum total bid value of a collection bid has to be at least 0.001 BTC.
If your total bid value is below 0.001 BTC, the 'Quantity' field will be automatically updated to meet the minimum amount of Runes (according to your bid price)
required to hit 0.001 BTC.
6. Set your bid expiration date & time. Click 'Submit Bid', sign the transaction and you're good to go!
Editing or Canceling a Collection Bid
1. Head over to the 'Bids' window. This tab displays all active bids, or all bids you made.
2. Click 'My Bids', and 'Edit'.
3. A popup would appear that will allow you to edit your Runes bid.
4. Make any necessary changes, click 'Update Bid' and sign the transaction.