A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC)
Step 1 – Join Kraken You will first need to purchase units of the top-tier currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click below for registration and receive BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transfer Your BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your Ethereum or Bitcoin will need to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Wrapped Bitcoin (WBTC) is obtainable on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this guide) Make sure you've chosen the correct coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. In the case you're using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Locate Wrapped Bitcoin (WBTC) As soon as your deposit has been confirmed, you will directly have access to your funds and you can begin invest and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. To spot Wrapped Bitcoin (WBTC), you will need to put the shortname of the coin (WBTC) into the search-box, which is highlighted in the picture. Make sure you have choosen the correct grouping, we've highlighted this also. Click on “WBTC/BTC” to continue.
Step 4 – Purchase Wrapped Bitcoin (WBTC) Once you've found 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 picture). Next we're going to create our own Limit Order. The field with the “Price” tag will be automatically filled with the up-to-date price Wrapped Bitcoin (WBTC) was sold for. This can be changed to your favoured rate. The field with the “Amount” tag is the volumen of WBTC you like to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the complete volumen of WBTC. If you are satisfied, make a mouse click on “Buy WBTC”. Your plan will be filled when a Vendor sells their WBTC for the price you offered.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you are regularly trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an extensive time period. In order to withdraw your Wrapped Bitcoin (WBTC), go to the ”Funds” tab and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Wrapped Bitcoin (WBTC) by using the provided drop-down box. Put into the amount of Wrapped Bitcoin (WBTC) you'd wish to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address. When you are glad, click on “Submit”. You could be asked for verfication via phone/email before a take off.