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 Funds to an Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an 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 funds from Coinbase to an Exchange? (Just follow these easy steps) Make sure you have selected the right coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etcetera. If you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Locate Wrapped Bitcoin (WBTC) Once your deposit has been verified, you will instantly have access to your assets and you can start invest and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”. To find Wrapped Bitcoin (WBTC), you will need to insert the cointype (WBTC) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct pairing, we have highlighted this too. Click on “WBTC/BTC” to progress.
Step 4 – Purchase Wrapped Bitcoin (WBTC) Once you have discovered Wrapped Bitcoin (WBTC), you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we are going to make our own Limit Order. The ”Price” field will be filled with the most up-to-date valuation Wrapped Bitcoin (WBTC) was sold for. You can change this to your desired price. The ”Amount” field is the amount of WBTC you like to buy. The ”Total” field is the whole price in BTC that you will pay for the whole amount of WBTC. If you are satisfied, click on “Buy WBTC”. Your plan will be filled when a Seller sells their WBTC for the price you gave.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you are regularly trading, never keep your crypto coins on an Crypto Trader for an extended time period. To withdraw your Wrapped Bitcoin (WBTC), hover over the ”Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Wrapped Bitcoin (WBTC) by using the given drop-down box. Put into the volumen of Wrapped Bitcoin (WBTC) you would wish to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have entered your right withdraw address. If you are glad, click “Submit”. You could be requested for verfication via email/phone ahead of a withdrawal.