How to Buy Wrapped Bitcoin (WBTC) in Australia

A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Australia

Step 1 – Join Kraken

You will first need to purchase one of the bigger coins. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click the button below to register and to get your welcome Bitcoin or Ethereum.

Step 2 – Send Your Funds to an Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is accessible on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Just follow this how-to)

Make sure you have chosen the correct coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our manual).

Step 3 – Locate (WBTC) Wrapped Bitcoin

As soon as your deposit has been verified, you'll immediately have access to your assets and you can initiate purchasing and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you will want to go to the “Exchange” tab and then click on “Basic”.

In order to find (WBTC) Wrapped Bitcoin, you will need to put the cointype (WBTC) into the search-box, which is marked in the picture. Be certain of having choosen the right pairing, we have highlighted this too. Click on “WBTC/BTC” to progress.

Step 4 – Purchase (WBTC) Wrapped Bitcoin

After you have located Wrapped Bitcoin (WBTC), you'll be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). For now we're going to make our own Limit Order.

The field with the “Price” tag will be filled with the latest rate (WBTC) Wrapped Bitcoin was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the quantity of WBTC you wish to buy. The field with the “Total” tag is the total price in Bitcoin that you will pay for the whole quantity of WBTC.

If you are satisfied, make a mouse click on “Buy WBTC”. Your order will be filled as soon as a Vender sells their WBTC for the price you gave.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you are frequently trading, best advise is not to keep crypto coins on an Exchange for an extensive time period. In order to take off your Wrapped Bitcoin (WBTC), hover over the tab called “Funds” and click on “Withdraw”. (WBTC) Wrapped Bitcoin can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (WBTC) Wrapped Bitcoin by using the provided drop-down box. Put into the quantity of Wrapped Bitcoin (WBTC) you'd wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your right withdraw address.

If you are satisfied, click “Submit”. You may be asked for verfication via phone/email ahead of a take off.

Kudos! You've successfully bought and safed (WBTC) Wrapped Bitcoin in Australia.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). As soon as you've proved your take off using Etherscan.io or Ethplorer.io and the Wrapped Bitcoin (WBTC) is stored inside your wallet, you're done.