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 Ethereum (ETH) or Bitcoin (BTC) to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. Wrapped Bitcoin (WBTC) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow this guide) Make sure you've selected the correct coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etcetera. If you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our how-to).
Step 3 – Find Wrapped Bitcoin (WBTC) As soon as your deposit has been approved, you will immediately have access to your finances and you can begin invest and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the ”Exchange” tab and then mouse click on “Basic”. To discover Wrapped Bitcoin (WBTC), you will need to put the cointype (WBTC) into the search-box, which is marked in the graphic. Be certain of having selected the correct pairing, we have highlighted this also. Click on “WBTC/BTC” to go on.
Step 4 – Buying Wrapped Bitcoin (WBTC) As soon as you've discovered Wrapped Bitcoin (WBTC), you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). And now we are going to create our own Limit Order. The ”Price” field will be filled automatically with the most up-to-date rate Wrapped Bitcoin (WBTC) was traded for. You can change this to your favoured rate. The ”Amount” field is the volumen of WBTC you like to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the complete quantity of WBTC. When you are happy, make a mouse click on “Buy WBTC”. Your order will be filled as soon as a Vender trades their WBTC for the price you offered.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you're regularly trading, you should never keepyour crypto on an Crypto Exchange for an longer time period. To take off your Wrapped Bitcoin (WBTC), go to the tab called “Funds” and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Wrapped Bitcoin (WBTC) by using the provided drop-down box. Put into the quantity of Wrapped Bitcoin (WBTC) you'd wish to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your correct withdraw address. If you're glad, click “Submit”. You may be requested for phone/email verification before a take off.
Congratulations! You've successfully purchased and stored Wrapped Bitcoin (WBTC).That's it! Take offs from Cryptocurrency Exchange can durate between 1 – 30 minutes (rely on network usage). As soon as you have proved your take off with Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored within your wallet, you are done.
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