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  • Market Cap: $1,432,702,502,845.96
  • 24h Vol: $73,233,038,249.70
  • BTC Dominance: 49.75%

$70,434.00

0.03% (24H)
Low $70,199.00
High $71,335.00
  • Market Cap $10.94 B
  • Volume $199.85 M
  • Available Supply 155,267 WBTC
  • ATH $73,505.00
  • ATH(% Change) -4.17%
  • ATH Date 2024-03-14
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Date Price Volume MarketCap
# Exchange Pair Price Volume (24h) Updated Trust Score

Wrapped Bitcoin WBTC price today is $70,434.00 💹 with a marketcap of $10.94 B. Its price is 0.03% up in last 24 hours.

What is Wrapped Bitcoin?

WBTC, also known as Wrapped Bitcoin, is a cutting-edge cryptocurrency that extends the benefits and value of Bitcoin (BTC) to the Ethereum (ETH) network. This is accomplished by "wrapping" Bitcoin in an Ethereum-based token, which establishes a representation of the value of Bitcoin on the Ethereum network. A network of custodians holds one Bitcoin for every WBTC token as backing.

How does it work?

Bitcoin custodians, merchants, and users work together to wrap the cryptocurrency. A transaction is started when a user wishes to wrap their Bitcoin by transferring it to a selected custodian address. The custodian will create an equivalent number of WBTC tokens and deliver them to the user's Ethereum wallet address after the transaction has been verified. Then, within the Ethereum ecosystem, these WBTC tokens can be freely used for a variety of things including yield farming, decentralized finance (DeFi) apps, loan collateral, and more.

The wrapped tokens maintain their Bitcoin value, therefore 1 WBTC token will always be equal to 1 BTC. Users may confidently explore the Ethereum ecosystem while preserving exposure to the world's most well-known cryptocurrency thanks to the underlying Bitcoin reserves held by custodians, who guarantee the trust and stability of WBTC.

How to get Wrapped Bitcoin?

The procedure of purchasing wrapped bitcoin is simple, and various platforms allow for WBTC transactions. The first steps are as follows:

Select a Reputable Platform: Decide on a trustworthy decentralized exchange (DEX) or cryptocurrency exchange that accepts WBTC trading. Make that the platform is safe, simple to use, and has enough liquidity.

Finish the registration process: Create an account on the platform of your choice by entering the relevant details and, if necessary, proving your identity. For improved account security, make sure to use two-factor authentication and abide by the platform's security policies.

Bitcoin deposits: Make your desired Bitcoin deposits into the exchange or DEX. Your WBTC tokens will be created using this as a base.

Wrap Your Bitcoin: Once the confirmation of your Bitcoin deposit has been received, start the wrapping procedure by adhering to the platform's guidelines. This usually entails choosing the "Wrap" option, entering the appropriate Bitcoin amount, and approving the transaction.

Receive WBTC: Following the wrapping operation, the platform will add an equivalent number of WBTC tokens to your Ethereum wallet. Then, you can utilize these tokens at your discretion within the Ethereum ecosystem or safely store them in a suitable wallet.

Wrapped Bitcoin price live data?

You may use a variety of cryptocurrency data sources, like CoinMarketCap, CoinGecko, or the trading interface of your preferred exchange, to keep track of Wrapped Bitcoin's current price and market moves. To help you decide wisely about your WBTC investments, these platforms offer real-time price data, historical charts, trading volume, market capitalization, and other pertinent data.

Conclusion

Wrapped Bitcoin has revolutionized the cryptocurrency industry by enabling Bitcoin owners to tap into the enormous potential of the Ethereum ecosystem. Users can access a variety of decentralized applications and DeFi services while still maintaining the security and stability of Bitcoin by encasing it in an Ethereum-based token. Users can easily bridge the gap between Bitcoin and Ethereum by purchasing WBTC through dependable exchanges and DEXs. Utilize trustworthy cryptocurrency data tools to keep up with the most recent price changes as you set out to explore the ground-breaking world of Wrapped Bitcoin.