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HomepageHow to buy cryptoHow to BuyWBTC(wrapped bitcoin)
Update Time: 2023-09-25

How to BuyWBTC(wrapped bitcoin)

More and more people are wondering how to buy WBTC(wrapped bitcoin) as these coins are very popular on the market

5 steps to buy WBTC(wrapped bitcoin) on BYDFi

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    Open BYDFi account for free

    Sign up for BYDFi with your email/mobile number and create a strong password to protect your account

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    Keep your account safe

    Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.

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    Verify account

    Enter your personal information and upload a photo of your valid ID cardVerify your personal identity

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    Add payment method

    Once your BYDFi account is verified, add credit/debit card or bank account

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    BuyWBTC(wrapped bitcoin)

    There are various payment methods available to purchase WBTC on BYDFi. We'll guide you through it

Choose how to purchase WBTC on BYDFi

Buying coins on BYDFi is easy and convenient. Explore different ways to buy WBTC(wrapped bitcoin)

  • 1

    Buy WBTC(wrapped bitcoin) with credit/debit card

    This is the easiest way for new users to buy (WBTC). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete

  • 2

    Buy WBTC(wrapped bitcoin) through third-party channels

    BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area

  • 3

    Buy WBTC(wrapped bitcoin) on BYDFi's Spot market

    BYDFi's Spot market offers 700+ Coin pairs, making it the most popular WBTC(wrapped bitcoin) buying platform. Buying methods are as follows:
    1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.
    2. Transfer your crypto to BYDFi account. Find the WBTC(wrapped bitcoin) trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to WBTC(wrapped bitcoin)
    common-how-to-buy-tips-0Note: BYDFi offers a variety of order types to buy WBTC(wrapped bitcoin) in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here
    3. After a successful trade, you can view the available WBTC(wrapped bitcoin) in your account

How to store WBTC(wrapped bitcoin)?

The best way to store WBTC(wrapped bitcoin) will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store WBTC(wrapped bitcoin)

Store WBTC in your BYDFi account

Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets

Deposit your WBTC to the wallet

「No key, can't withdraw」If security is your biggest concern, you can withdraw WBTC(wrapped bitcoin) to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade WBTC(wrapped bitcoin) or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of WBTC(wrapped bitcoin).

How you can use WBTC(wrapped bitcoin) with BYDFi

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Hold

Store WBTC(wrapped bitcoin) in your BYDFi account.

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Trade

Trade WBTC(wrapped bitcoin) in spot and futures markets.

Why is BYDFi the best platform to buy WBTC(wrapped bitcoin)?

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    Safe and Reliable

    Our regular Proof of Reserves (PoR) mechanism ensures that customer funds are backed 1:1 by physical assets. BYDFi was recognized as one of the best cryptocurrency exchanges of 2021 by Forbes and named the Best Cryptocurrency App of 2022 by Ascent.

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    High Liquidity

    BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads

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    Gem cryptocurrency platform

    Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy WBTC on BYDFi and use it to exchange other crypto assets.

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    Friendly interface

    Thanks to its simple interface and superior technology, buying WBTC(wrapped bitcoin) on BYDFi is quick and convenient. Buy Coin on BYDFi to receive WBTC

Trade

    Answers

    how-to-buy-minus-imgIs Wrapped Bitcoin (WBTC) a Good Investment?

    Wrapped Bitcoin has the same inherent value as Bitcoin, the world's first and largest cryptocurrency by market cap. Investing in WBTC is very similar to investing in BTC, except that it gives you the flexibility to do more with the crypto than just making payments, trading, and HODLing on different blockchains.

    As Bitcoin has a fixed supply and turns even more attractive as an asset to invest in and hold among institutional investors worldwide, the value of BTC and the corresponding WBTC price could head higher. An increased interest in BTC can make Wrapped Bitcoin a sound investment to consider.

    Bullish sentiment among investors towards the crypto market in general and Bitcoin, in particular, can be one of the most vital fundamentals driving up the Wrapped Bitcoin price and making it a valuable investment. In addition, the growth of the decentralized finance markets can also make WBTC even more valuable as an asset to invest in, letting you trade and invest in WBTC via DEXs and DeFi platforms.

    Beyond DeFi, the rising adoption of Wrapped Bitcoin as an accepted payment method by businesses worldwide can make it an exciting crypto asset to include in your portfolio. The Wrapped Bitcoin cryptocurrency could also trend higher in price and demand as more dApps integrate this crypto for use.

    how-to-buy-minus-imgWhat is the difference between Bitcoin (BTC) and Wrapped Bitcoin (WBTC)?

    Wrapped Bitcoin (WBTC) is an ERC-20 token on the Ethereum network that represents Bitcoin (BTC). Its value is tied to the price of Bitcoin. Let's explore the key distinctions between these two cryptocurrencies:

    Blockchain: Bitcoin vs. Ethereum

    Bitcoin (BTC) operates on its own blockchain, while Wrapped Bitcoin (WBTC) is one of several digital assets functioning within the Ethereum ecosystem.

    Use Cases

    Bitcoin (BTC) has limited use cases due to its inability to handle smart contracts and decentralized applications (dApps). Wrapped Bitcoin (WBTC) was created to enable programmability through smart contracts, making it usable in dApps and providing liquidity to decentralized exchanges on Ethereum.

    how-to-buy-minus-imgCan Wrapped Bitcoin (WBTC) be Mined?

    Wrapped Bitcoin, unlike native Bitcoin, exists as a token on the Ethereum blockchain and cannot be mined. It is programmed using smart contracts and cannot be generated without being backed by BTC reserves. The only way to create WBTC is by depositing BTC crypto with merchants, who then perform the swapping operation and mint WBTC tokens to send to the users. WBTC tokens are also burned whenever users request a return on BTC by sending back the WBTC tokens and exchanging them for Bitcoin. However, there are other ways to obtain Wrapped Bitcoin crypto, including trading or buying them on CEXs and DEXs. You can earn WBTC through staking, lending liquidity, or yield farming on supported platforms.

    how-to-buy-minus-imgHow can I convert BTC to WBTC in MetaMask?

    You cannot directly convert Bitcoin into Wrapped Bitcoin using MetaMask since MetaMask is an Ethereum-based wallet and does not support Bitcoin.

    However, you can use exchanges like BYDFi or DeFi platforms that facilitate BTC to WBTC swaps. The simplest way to convert BTC to WBTC is by visiting the BYDFi Spot Trading section and trading the WBTC/BTC cryptocurrency pair.

    On the trading page, you can sell BTC to purchase WBTC, and then transfer the acquired WBTC from your BYDFi trading account to MetaMask for storage or further use.

    how-to-buy-minus-imgHow to Swap WBTC for BTC?

    You can swap your Wrapped Bitcoin back to Bitcoin using exchanges and DeFi platforms that offer these cryptocurrencies among their listings. Some digital wallets use Unwrap features to let you swap WBTC for BTC. Such an option is also available on DeFi bridges which support the transfer of cryptocurrencies from one blockchain to another. Look for a bridge that supports the transfer of Ethereum-based ERC-20 tokens to native Bitcoin to perform such a swap. Another convenient and safe way to swap WBTC for BTC is to use a cryptocurrency exchange like BYDFi to sell Wrapped Bitcoin. On BYDFis Spot Trading section, all you need to do is to sell the WBTC/BTC pair to swap your Wrapped Bitcoin tokens for Bitcoins.

    WBTC(wrapped bitcoin)Price analysis

    Real-time price

    WBTC today's price is USD, its Reduce 0% over the past week, and Reduce % over the past 24 hours

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    Disclaimer

    Due to the volatile market nature of cryptocurrencies, WBTC(wrapped bitcoin) prices are subject to market influences and price fluctuations. We recommend that you clearly understand the operating principles and associated risks of digital assets before investing in digital assets. Other factors you need to consider when developing a cryptocurrency investment strategy include your experience, financial situation, investment goals and risk tolerance. You should also consult a financial advisor before purchasing cryptocurrency. None of the above information constitutes financial advice and past market performance cannot accurately predict future performance. The value of your investments and the value of your assets may change as market conditions change and there is no guarantee that you will get your investment back or make a profit on your investment. Your investment decisions are entirely your responsibility and BYDFi is not responsible for any losses you may incur while purchasing cryptocurrencies on the platform. We rely on third party sources of information regarding prices and other cryptocurrency-related information listed above and we are not responsible for the reliability or accuracy of such information. The information provided to you is for reference only, BYDFi does not guarantee this information.