A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC)
Step 1 – Signup to CEX.io You will first need to purchase units of the top-tier coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click below to register and to get your Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Crypto Trader Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Wrapped Bitcoin (WBTC) is available on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow these easy steps) Make sure you have selected the precise coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you are dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).
Step 3 – Locate Wrapped Bitcoin (WBTC) Once your deposit has been affirmed, you'll directly have access to your funds and you can launch invest and trading. To buy Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to find Wrapped Bitcoin (WBTC), you'll need to put the shortname of the coin (WBTC) into the search box, which is highlighted in the image. Be certain of having choosen the proper pairing, we've highlighted this too. Click on “WBTC/BTC” to go ahead.
Step 4 – Buy Wrapped Bitcoin (WBTC) Once you have discovered Wrapped Bitcoin (WBTC), you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to create our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest valuation Wrapped Bitcoin (WBTC) was sold for. You can change this to your desired rate. The ”Amount” field is the quantity of WBTC you want to purchase. The ”Total” field is the total price in BTC that you will settle for the complete volumen of WBTC. When you are happy, make a mouse click on “Buy WBTC”. Your plan will be filled as soon as a Seller trades their WBTC for the price you introduced.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you are regularly trading, you should never keepyour crypto coins on an Exchange for an longer time frame. In order to withdraw your Wrapped Bitcoin (WBTC), hover over the ”Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Wrapped Bitcoin (WBTC) by using the given drop-down box. Enter the amount of Wrapped Bitcoin (WBTC) you would like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your right withdraw address. If you are happy, click on “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.