Wrapped Bitcoin (WBTC)

Send and receive Wrapped Bitcoin (WBTC) quickly with the Funex Pro wallet

Store your Wrapped Bitcoin (WBTC) with the Funex Pro wallet which is most safest wallet for wrapped bitcoin token.

An Ethereum currency called Wrapped Bitcoin (WBTC) is designed to stand in for Bitcoin (BTC) on the Ethereum network. It is a different ERC-20 token intended to follow the value of Bitcoin rather than being Bitcoin itself. WBTC was developed to provide Bitcoin owners access to Ethereum's well-known decentralized finance ("DeFi") apps. 1 Bitcoin can be traded for 1 Wrapped Bitcoin through a WBTC partner, and the other way around. A "proof of reserve" approach that confirms the 1:1 backing between newly created WBTC tokens and Bitcoin kept in custodial accounts is used to verify the BTC that underpins WBTC. The WBTC DAO, a team of more than 30 individuals, looks after WBTC. BitGo, Ren, and Kyber started it at first.

The development of Wrapped Bitcoin integrates Ethereum's DeFi ecosystem with the most popular cryptocurrency in the world. With tokens made for users who want to convert BTC into WBTC, the WBTC token follows the ERC-20 token standard.

A custodian, who participates in the actual creation and burning of Ethereum-based tokens, is in charge of holding all to-be-converted Bitcoin. The user can get their remaining BTC amount back from the custodian after burning WBTCs. Users that participate in mining give Bitcoin to the custodian to be stored in exchange for WBTC tokens. The largest Wrapped Bitcoin custodian, BitGo, will mine a specific quantity of WBTC and transfer them to the merchant's Ethereum address.

Funex is loaded with a wide variety of features, some of which include gaming, betting, trading, holding, and long-term investing, among many others. Let us understand each of them in detail.

Gaming- The blockchain-based games provided by Funex Club are widely considered to be the most enjoyable currently available. The Funex Games are carefully designed by a group of experienced professionals in the gaming industry using modern and advanced equipment. 
Betting- Funex is going to launch a new world which is Metaverse in which you’ll get various games. Games will include various functions such as betting, purchasing, and many more. 

Trading- Trading in Cryptocurrency is an amazing way of investing for the future. It is going to be the trend that will definitely bring so many rewards and make it easy for everyone to use the currency without the involvement of others. With Funex, you can Buy and sell different types of cryptocurrency. 

Holding- In Cryptocurrency you get a feature of holding coins which generally means you can lock any amount of crypto through your account for any amount of time, the minimum time is 30 days. So, after completing days you’ll get the interest in your crypto.

 
Long-term investment- According to many experts Crypto is going to be used as a common currency, that’s why, it will be very beneficial if someone invest in crypto at this point of time. Cryptocurrency can already be a good long-term investment option, despite the fact that it belongs to a category of assets that is relatively new.

This graph indicates the current Wrapped Bitcoin (WBTC) Price Chart.

Need Help?
Connect with our support anytime. Our team is here to assist you with 24*7 chat support.

FAQ

What is Wrapped Bitcoin (WBTC)?
Wrapped bitcoin, or wBTC, is bitcoin that has been changed so that it can be used on the Ethereum ecosystem. wBTC is an Ethereum token backed one-to-one by bitcoin (BTC) and launched in January 2019.

Is Wrapped Bitcoin (WBTC) good for investment?
If you are interested in investing in a major cryptocurrency other than Bitcoin, or Ethereum you will find that Wrapped Bitcoin (WBTC) is a good option to consider.

Which is the best wallet for wrapped bitcoin token?
Funex wallet is one of the best wallets to store your wrapped bitcoin token. It has various features that make it the best crypto wallet for cryptocurrency transactions.

Which is the most safest wallet for wrapped bitcoin tokens?
Store your wrapped bitcoin token on Funex pro wallet. It has various security features that make it the best crypto wallet for cryptocurrency transactions.