How to buy Wrapped Bitcoin
WBTC
Wrapped bitcoin (WBTC) is an Ethereum-based token that provides interoperability between Bitcoin and Ethereum, allowing Bitcoin holders to participate in Ethereum’s growing ecosystem of DeFi applications. In simpler terms, WBTC helps represent Bitcoin on the Ethereum network. An ERC-20 token is designed to mimic Bitcoin’s value so it’s easily trackable and usable on Ethereum. You can buy and sell WBTC for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade WBTC for BTC the same way you trade CAD for USD. You can also trade WBTC to CAD based on the WBTC price. To learn how to buy Wrapped Bitcoin / WBTC, scroll down to see how to buy Wrapped Bitcoin.
Wrapped Bitcoin is an ERC-20 token designed to mimic and represent the value of Bitcoin on the Ethereum network. WBTC is maintained by a group called the WBTC DAO, originally developed by BitGo, Ren, and Kyber networks. The Bitcoin that is used to back WBTC is verified via a “proof of reserve” system that confirms the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. WBTC also standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.
You may want to consider buying WBTC if you would like to:
Diversify your portfolio by introducing a variety of cryptocurrency assets
Participate in DeFi apps popular on the Ethereum network
Benefit from the power of Bitcoin and the flexibility of an ERC-20 token
Exchange it for cryptocurrencies such as Bitcoin to buy and sell goods online
Wrapped Bitcoin (WBTC)
All prices are in USD.
How to buy Wrapped Bitcoin
WBTC
Wrapped bitcoin (WBTC) is an Ethereum-based token that provides interoperability between Bitcoin and Ethereum, allowing Bitcoin holders to participate in Ethereum’s growing ecosystem of DeFi applications. In simpler terms, WBTC helps represent Bitcoin on the Ethereum network. An ERC-20 token is designed to mimic Bitcoin’s value so it’s easily trackable and usable on Ethereum. You can buy and sell WBTC for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade WBTC for BTC the same way you trade CAD for USD. You can also trade WBTC to CAD based on the WBTC price. To learn how to buy Wrapped Bitcoin / WBTC, scroll down to see how to buy Wrapped Bitcoin.
Here’s how to buy Wrapped Bitcoin on Coinsquare
Buying Wrapped Bitcoin is just like foreign exchange of traditional currencies like the Canadian Dollar, US Dollar, or Euro. You trade coins that you have – either a cryptocurrency or a dollar – for Wrapped Bitcoin, which trades as WBTC. Based on when you think you can get a good WBTC price, you should be able to trade WBTC to CAD.
To buy Wrapped Bitcoin, simply follow these steps:
Sign up for a Coinsquare account and verify your identity
This is the first step to buying WBTC. Verifying your identity helps us to properly connect your funds to your account.
Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
After funding, select WBTC from the list on the trade section
Coinsquare lets you trade WBTC without leaving the app. You can also check the Wrapped Bitcoin stock price and convert WBTC to CAD on the platform.
Select a currency you’ve funded and use it to check the WBTC price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
Buy WBTC
Congratulations! You’re now the proud owner of WBTC. You can either HODL or use it to exchange WBTC to CAD. To the moon!
Wrapped Bitcoin is an ERC-20 token designed to mimic and represent the value of Bitcoin on the Ethereum network. WBTC is maintained by a group called the WBTC DAO, originally developed by BitGo, Ren, and Kyber networks. The Bitcoin that is used to back WBTC is verified via a “proof of reserve” system that confirms the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. WBTC also standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.
You may want to consider buying WBTC if you would like to:
Diversify your portfolio by introducing a variety of cryptocurrency assets
Participate in DeFi apps popular on the Ethereum network
Benefit from the power of Bitcoin and the flexibility of an ERC-20 token
Exchange it for cryptocurrencies such as Bitcoin to buy and sell goods online
Where do I keep my WBTC?
Ready to add WBTC to your portfolio?
Prices and percentage changes are for information purposes only and in no way reflect Coinsquare Ltd.’s speculation of market direction. Past performance is not an indicator of future performance. Please find our Risk Disclosure statement here.
FINTRAC Registered
Property as prescribed in the Coverage Policy of the Canadian Investor Protection Fund (CIPF) that is held in customers’ accounts, including cash balances but not crypto assets, is protected by CIPF within specified limits. A brochure describing the nature and limits of coverage is available upon request or at https://www.cipf.ca.