Wrapped Bitcoin is the tokenized version of Bitcoin on the Ethereum blockchain, allowing the value of Bitcoin to be used within the Ethereum ecosystem. The tokenization process is done by a custodian, who issues a WBTC token for each held BTC.
MoreWBTC operates on the Ethereum blockchain and follows the ERC-20 token standard. Bitcoins are converted into WBTC through a process where a custodian holds the original Bitcoin and, in exchange, issues WBTC tokens on the Ethereum blockchain.
MoreIt is possible to buy Wrapped Bitcoin (WBTC) at Coinmerce. Select the coin, choose your payment method, and receive the WBTC tokens in your wallet.
MoreDo you want to buy Wrapped Bitcoin (WBTC)? At Coinmerce, you can buy WBTC with iDeal. Once you are logged in, click on "Coins" in the top menu. Here you will find an overview of all cryptocurrencies offered by Coinmerce. Search for "WBTC" and click on the coin. In the right window, you can indicate how much WBTC you want to buy for euros. Below, it will show you how much WBTC you will receive for that amount. Have you entered the correct amount? Then click on "Buy".
Wrapped Bitcoin, abbreviated as WBTC, is a tokenized version of Bitcoin on the Ethereum blockchain. WBTC is an ERC-20 token, allowing it to be easily transferred across the Ethereum network. It can also be used within all dApps and DeFi protocols on Ethereum. An essential feature of WBTC is that it is 1:1 backed by Bitcoin. This ensures that the price of WBTC is always equal to that of Bitcoin and allows users to move liquidity between the Bitcoin and Ethereum networks. Wrapped Bitcoin was first introduced in October 2018, and the project was officially launched on January 31, 2019. The need for WBTC arose from the fact that you cannot transfer a cryptocurrency on the Bitcoin blockchain to the Ethereum blockchain, and vice versa. Users can create a WBTC token by locking up (a portion of) Bitcoin with a custodian, who serves as collateral for the WBTC, and then the custodian issues a WBTC token on Ethereum. This ensures that the value of WBTC is actually based on Bitcoin.