What is Wrapped Bitcoin (WBTC)?

Learn about wrapped Bitcoin (WBTC) and how it’s useful for you.

Wrapped Bitcoin is the most liquid ERC20 token pledge with Bitcoin. One WBTC is equal to one BTC. Wrapped Bitcoin (WBTC) is very useful for decentralized exchanges and dApps that operate on the Ethereum blockchain. Being completely transparent, WBTC is a 100% community-led digital asset.

This article explains how WBTC works and what advantages it brings to traders, Ethereum-powered tools, and other cryptocurrency service providers.

Advantages of WBTC

WBTC gives greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. A great example is Uniswap that supports WBTC/ETH market pair. That pair attracts around $1 billion liquidity.
Nowadays, centralized exchanges generate most of the trading volume with Bitcoin. However, WBTC changes that, re-allocating Bitcoin’s liquidity to Ethereum blockchain and ERC-20 tokens.

WBTC standardizes Bitcoin (BTC) to the ERC20 format. It allows to create smart contracts for Bitcoin and integrate BTC transfers.

Therefore, instead of maintaining various nodes for different transaction types, exchanges, wallets, and Dapps only need to support an Ethereum node.

Benefits for Traders, Institutions, and Dapps

Traders, Institutions, and decentralized applications (Dapps) are the main counterparties that win by using WBTC.

Exchanges, wallets, payment services

Handling multiple cryptocurrencies across different nodes and transaction formats is a hard task for exchanges, wallets, and payment services. But, WBTC provides the benefits of Ethereum and Bitcoin nodes, making it easy to handle the wrapped cryptocurrency with only the Ethereum node.

Decentralized applications (Dapps)

In addition, decentralized applications can now leverage Bitcoin payments in smart contracts for lending protocols, funds, prediction markets, and token sales.

Traders

Also, Wrapped BTC (WBTC) allows users to experience increased liquidity and participation. The Ethereum network is processing transactions faster and cheaper than the Bitcoin network. As a result, Bitcoin holders don’t have to wait anymore. Thanks to WBTC, moving Bitcoin between exchanges via the Ethereum blockchain is much cost-efficient.

You can buy and sell WBTC against many cryptocurrencies and stablecoins on the Tokpie exchange.

How does WBTC work?

To get WBTC, a user requests tokens from a merchant. After that, a merchant performs a swap. During a swap, a user provides the merchant with Bitcoin, while Merchant, in turn, transfers WBTC to the user.

How WBTC works
WBTC Mechanics

Minting is the process of creating new wrapped tokens (WBTC). A merchant initialized such minting. You can find proof of assets by clicking on these BTC wallets.

Burning is the process of redeeming BTC for WBTC tokens. Only a merchant can do this. The amount is deducted from the merchant’s WBTC balance (on-chain) and the supply of WBTC is then reduced.

How to buy WBTC?

You can purchase Wrapped Bitcoin (WBTC) for USDT or ETH in three simple steps:

  1. Fund your account with USDT, or ETH. Note that you can purchase USDT or ETH with a bank card in a few minutes.
  2. Open WBTC/USDT and place your trade order to buy. Use this instruction if you don’t know how to place a trade order. Also, your can exchange your ETH for WBTC here.
  3. Withdraw WBTC to your personal Ethereum wallet or hold.

Alternatively, you can buy Bitcoin with a bank card for fiat money.

How to sell WBTC?

To sell Wrapped Bitcoin (WBTC) for USDT or ETH, follow three steps:

  1. Deposit WBTC on your account.
  2. Open WBTC/USDT order book, and place your trade order to sell. Read the instruction if you don’t know how to place a trade order. Also, your can exchange your WBTC for ETH here.
  3. Withdraw USDT or ETH to your personal Ethereum wallet or hold them on your account.

How to deposit WBTC?

To deposit Wrapped Bitcoin (WBTC) on your Tokpie account at no cost, follow this guide.

Note: Tokpie doesn’t charge any fees for depositing.

How to withdraw WBTC?

To withdraw Wrapped Bitcoin (WBTC) from your Tokpie account, use this instruction. You must have an eth compatible wallet address to be able to withdraw WBTC. Also, check the withdrawal commission.

Disclaimer

Please be aware that Tokpie charges a fee for the listing. Tokpie does not give any investment, legal, tax, financial advice, or warranty of token price performance or successful fundraising.

Useful links

For any question or cooperation, you can contact Tokpie at https://t.me/tokpie

Buy Bitcoin with Credit Card. Plus other Popular Crypto

Discover how to buy Bitcoin and other popular crypto with bank card just in few minutes.

Great news! Tokpie partnered with Simplex, the most reliable payment processor that has the EU license. So now, you can buy Bitcoin or any other popular crypto with a credit card on the Tokpie exchange. 

Buy Bitcoin (BTC), Ethereum (ETH), DAI Stablecoin (DAI), Litecoin (LTC), and other fifteen coins in your local fiat currency with either a VISA or MasterCard (credit or debit card).

Also, We are happy to announce extended coverage of Simplex’s services within the U.S. to enable more users to purchase crypto assets easily and risk-free.

As of today, in addition to all of the other regions it serves, Simplex supports the purchase of cryptocurrency from users in Nevada (NV), Washington (WA), New Mexico (NM), Vermont (VT), Alaska (AK), and Louisiana (LA). The supported cryptocurrencies in these territories will be Bitcoin (BTC), Bitcoin Cash (BCH), Etherium (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT).

 Find below a step-by-step guide to buying crypto with a bank card on Tokpie.

Select cryptocurrency

 1. Select a cryptocurrency that you want to buy here

Buy crypto at lower rates
Buy bitcoin with credit card

Enter amount 

2. For example, enter the amount of BTC to purchase or the amount of EUR you are willing to spend. A result, the system automatically calculates the best rate for you.

Note: The amount shall be between $50 and $20,000 US dollars equivalent.

Enter wallet address

3. Enter your wallet address. If you don’t have a one, then create it here.

Confirm purchase

4. After selecting crypto and entering amounts, press the ‘continue’ button to confirm the purchase.

Note that the residents of some countries cannot buy crypto with bank cards.

Fill in the billing information

 5. Then, enter billing information and verify it through mobile phone and email.

Methods of payment

You can pay with a bank card. It can Visa or MasterCard, debit or credit card. Also, you can buy cryptocurrency with Apple Pay.

Upload document

6. Upload any one of your identity documents and fill the details.

Check the status

7. Congratulations! You have completed the payment. Track the status here

Popular crypto

This is the list of all popular crypto that you can buy with a credit or debit card (Visa or MasterCard). 

ATOMCELLTCUSDT
BCHDAINANOXAUT
BNBDASHPAXXLM
BTCEOSSGAXRP
BUSDETHTRX

Restricted countries

The service is not available to the citizens of these countries:

  • Afghanistan AF
  • Albania AL
  • Bahamas BS
  • Barbados BB
  • Botswana BW
  • Cambodia K
  • Cube CU
  • Democratic People’s Republic of Korea KP
  • Ghana GH
  • Iceland IS
  • Iran IR
  • Iraq IQ
  • Mongolia MN
  • Mauritius MU
  • Myanmar (Burma) MM
  • Jamaica JM
  • Kyrgyzstan KG
  • Nicaragua NI
  • Pakistan PK
  • Panama PA
  • Sudan SD
  • Syria S
  • Uganda UG
  • Yemen YE
  • Zimbabwe ZW
  • US States: 
  • Alabama (AL)
  • Florida (FL)
  • Georgia (GA)
  • Hawaii (HI)
  • New York (NY)
  • Oregon (OR)

For any question or cooperation, you can contact Tokpie at https://t.me/tokpie

TOKPIE is Registered Trademark now!

Why trademark matters? Why it’s important to TKP token holders?

There are thousands of companies nowadays that operate on the cryptocurrency market and issue their tokens. So, how TOKPIE could stand out from others and support its TKP token?

First, we launched a unique Bounty Stake Trading service.
Second, we have successfully registered our trademark: TOKPIE.
Here is the official proof of trademark registration:

https://euipo.europa.eu/eSearch/#details/trademarks/017883138

Why Registered Trademark is important to TKP token holders.

  • Effective communication tool
    TOKPIE trademark carries emotional attributes and messages about our company, its reputation, and services. By the way, TOKPIE means “take you piece of the pie in the growing tokenomics”.
  • Distinguish from competitors
    The crypto marketplace is crowded and the registered trademark helps to capture customer attention and stand out from others.
  • Effective utilization of the Internet and social media
    The brand name is the first thing people enter into a search engine or social media platform (Facebook, Twitter, etc) when looking for our services.
    Higher traffic on a website, platform and social media translate into higher rankings, bringing even more traffic, more customers and more brand recognition.
  •  A valuable asset that appreciates in value over time
    Trademark is a property asset it can be licensed (like renting or leasing) or used as a security interest to secure a loan to grow our business.
  • Never expire
    TOKPIE registered trademark just shall be continued every 10 years.
  • Help the hiring
    Brands can inspire positive feelings in people’s minds. As a result, employment opportunities are more attractive to candidates.

Now, by holding the registered trademark, TOKPIE significantly increases the value of its brand to TKP token purchasers. So, any purchaser is likely to pay much more for the goodwill that we build up.

Want to grow with us? Stay in touch with TOKPIE.