A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC)
Step 1 – Signup to CEX.io In the beginning you'll need to purchase units of the major coins. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click below to register and to get your Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Wrapped Bitcoin (WBTC) is accessible on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow this how-to) Make sure you've selected the right coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. If you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow these easy steps).
Step 3 – Find (WBTC) Wrapped Bitcoin Once your deposit has been confirmed, you'll instantly have access to your assets and you can initiate buying and trading. To purchase (WBTC) Wrapped Bitcoin on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. To locate (WBTC) Wrapped Bitcoin, you'll need to put the short name of the asset (WBTC) into the search-box, which is highlighted in the graphic. Make sure you have choosen the correct grouping, we've highlighted this too. Click on “WBTC/BTC” to proceed.
Step 4 – Buy (WBTC) Wrapped Bitcoin After you have found (WBTC) Wrapped Bitcoin, you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). For now we are going to make our Limit Order. The ”Price” field will be filled automatically with the latest rate (WBTC) Wrapped Bitcoin was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the amount of WBTC you like to purchase. The ”Total” field is the total price in Bitcoin that you'll pay for the complete amount of WBTC. When you're satisfied, click on “Buy WBTC”. Your order will be filled as soon as a Seller sells their WBTC for the price you introduced.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you are trading, never keep your crypto coins on an Exchange for an extended period of time. In order to withdraw your Wrapped Bitcoin (WBTC), hover over the tab called “Funds” and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Wrapped Bitcoin (WBTC) by using the given drop-down box. Put into the volumen of Wrapped Bitcoin (WBTC) you'd wish to withdraw. Don't forget the presented fees/minimums. Also make sure you have entered your correct withdraw address. If you are satisfied, click “Submit”. You may be asked for phone/email verification before a withdrawal.