{"id":460406,"date":"2022-06-09T21:00:08","date_gmt":"2022-06-09T18:00:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-a-wrapped-bitcoin-wbtc\/"},"modified":"2022-06-09T21:00:08","modified_gmt":"2022-06-09T18:00:08","slug":"what-is-a-wrapped-bitcoin-wbtc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/","title":{"rendered":"#What Is a Wrapped Bitcoin (WBTC)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29750f8b9ad\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29750f8b9ad\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/#%E2%80%9CWhat_Is_a_Wrapped_Bitcoin_WBTC%E2%80%9D\" >&#8220;What Is a Wrapped Bitcoin (WBTC)?&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/#Bitcoin_on_the_Ethereum_Blockchain\" >Bitcoin on the Ethereum Blockchain<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/#Benefits_of_Wrapped_Bitcoin\" >Benefits of Wrapped Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/#Some_Downsides_of_Wrapped_Bitcoin\" >Some Downsides of Wrapped Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-wrapped-bitcoin-wbtc\/#How_to_Buy_Wrapped_Bitcoin\" >How to Buy Wrapped Bitcoin<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWhat_Is_a_Wrapped_Bitcoin_WBTC%E2%80%9D\"><\/span>&#8220;What Is a Wrapped Bitcoin (WBTC)?&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<figure style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage size-full wp-image-809235\" data-pagespeed-no-defer=\"\" src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/06\/shutterstock_2142450165.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"A pile of Wrapped Bitcoin (WBTC) tokens.\" width=\"1200\" height=\"675\"\/><figcaption class=\"wp-caption-text\"><span class=\"type:primaryImage imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-illustration\/pile-wrapped-bitcoin-wbtc-coins-various-2142450165\">David Sandron\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>A wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Bitcoin (WBTC) is a way to represent Bitcoin on the Ethereum blockchain.\u00a0Bitcoin and Ethereum are the top two cryptocurrencies in the world, but they can\u2019t normally interact with each other\u2014hence the need for wrapping.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Bitcoin_on_the_Ethereum_Blockchain\"><\/span>Bitcoin on the Ethereum Blockchain<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin and Ethereum both serve unique but separate purposes in the crypto economy.<\/p>\n<p>Bitcoin is the oldest and most valuable cryptocurrency due to its unique scarcity, security, and decentralization. It pioneered the trail that many digital currencies have subsequently followed and hasn\u2019t looked back since.<\/p>\n<p>Ethereum has become the world\u2019s second most valuable cryptocurrency because of the vast DeFi ecosystem it supports. Ethereum\u2019s programmable smart contracts allow developers to build applications for lending, borrowing, providing liquidity, and much more.<\/p>\n<p>Despite both having valuable use cases, Ethereum and Bitcoin cannot interact directly within each other\u2019s blockchains.<\/p>\n<p>To navigate around this hurdle, a group of developers came up with a token that represented the value of Bitcoin in 2019. This Bitcoin token can integrate with Ethereum-based wallets, DeFi applications, and smart contracts.<\/p>\n<p>Known as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/wbtc.network\/\">Wrapped Bitcoin (WBTC)<\/a>, holders get the best of both worlds. Wrapped Bitcoin follows Bitcoin\u2019s price exactly but is usable with Ethereum-based products.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>What Is DeFi? The Basics of Decentralized Finance<\/em><\/strong><\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Benefits_of_Wrapped_Bitcoin\"><\/span>Benefits of Wrapped Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before Wrapped Bitcoin, it was much more cumbersome to participate in DeFi with Bitcoin. Wrapped Bitcoin enables Bitcoin investors to keep holding on to it as an asset while also using DeFi dApps like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/compound.finance\/\">Compound<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/aave.com\/\">Aave<\/a> to borrow or lend money. They can also swap Wrapped Bitcoin for other Ethereum tokens like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/chain.link\/\">Chainlink<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/\">Tether<\/a>, or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fwww.coinbase.com%2Fprice%2Fshiba-inu\">Shiba Inu<\/a> with a DEX like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/uniswap.org\/\">Uniswap<\/a>.<\/p>\n<p>Wrapped Bitcoin has bridged the gap between the two blockchains. People can participate in DeFi by buying Wrapped Bitcoin instead of the original Bitcoin.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Some_Downsides_of_Wrapped_Bitcoin\"><\/span>Some Downsides of Wrapped Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While there are plenty of advantages that Wrapped Bitcoin serves, there are some considerable differences between WBTC and BTC.<\/p>\n<p>Wrapped Bitcoin is simply a copy of Bitcoin that is compatible with Ethereum. It exists completely separate from the Bitcoin blockchain. As a result, there is no mining of Wrapped Bitcoin.<\/p>\n<p>Furthermore, there is a different amount of Wrapped Bitcoin and Bitcoin in circulation. Wrapped Bitcoins are created through a Decentralized Autonomous Organization (DAO). The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wbtc.network\/\">WBTC DAO<\/a> currently is in charge of minting new Wrapped Bitcoins. Members are able to vote on upgrades and changes. Since there is a governing body behind Wrapped Bitcoin, it is inherently less secure than Bitcoin.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"How_to_Buy_Wrapped_Bitcoin\"><\/span>How to Buy Wrapped Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There are few ways to purchase Wrapped Bitcoin.<\/p>\n<p>If you want to swap your actual Bitcoin for real Bitcoin it can be done with platforms like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/atomicwallet.io\/\">Atomic Wallet<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/poloniex.com\/\">Poloniex<\/a>.<\/p>\n<p>One of the easiest methods though is trading through an Ethereum-based DEX like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/uniswap.org\/\">Uniswap<\/a>. By holding a balance of Ethereum or any other Ethereum-based token, users can instantly swap for Wrapped Bitcoin. You can then use your WBTC with all kinds of DeFi applications without having to sell your actual Bitcoin holdings.<\/p>\n<p><strong>RELATED:<\/strong> <strong><em>How to Use Uniswap With MetaMask on iPhone or Android<\/em><\/strong><\/p>\n<\/div>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.howtogeek.com\/808855\/what-is-a-wrapped-bitcoin-wbtc\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;What Is a Wrapped Bitcoin (WBTC)?&#8221; David Sandron\/Shutterstock.com A wrapped Bitcoin (WBTC) is a way to represent Bitcoin on the Ethereum blockchain.\u00a0Bitcoin and Ethereum are the top two cryptocurrencies in the world, but they can\u2019t normally interact with each other\u2014hence the need for wrapping. Bitcoin on the Ethereum Blockchain Bitcoin and Ethereum both serve unique&#8230;<\/p>\n","protected":false},"author":1,"featured_media":460407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/06\/shutterstock_2142450165.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-460406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=460406"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/460407"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=460406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=460406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=460406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}