How to Buy Wrapped Bitcoin (WBTC) in Austria

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

Step 1 – Join CEX.io

In the beginning you'll need to purchase units of the top-tier coins. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click below for registration and to get your first Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Transfer Your Ethereum or Bitcoin to an Cryptocurrency Exchange

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

Make sure you have selected the right coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be different (Just follow these easy steps).

Step 3 – Find (WBTC) Wrapped Bitcoin

Once your deposit has been approved, you will immediately have access to your finances and you can begin purchasing and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you'll want to hover over the “Exchange” tab and then mouse click on “Basic”.

To spot (WBTC) Wrapped Bitcoin, you will need to insert the cointype (WBTC) into the search box, which is highlighted in the graphic. Be certain of having selected the correct grouping, we've highlighted this also. Click on “WBTC/BTC” to proceed.

Step 4 – Purchasing (WBTC) Wrapped Bitcoin

As soon as you've located Wrapped Bitcoin (WBTC), you'll be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the picture). And now we're going to make our own Limit Order.

The “Price” field will be filled automatically with the most recent rate (WBTC) Wrapped Bitcoin was sold for. This can be changed to your desired rate. The “Amount” field is the volumen of WBTC you want to buy. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the whole amount of WBTC.

When you're glad, make a mouse click on “Buy WBTC”. Your order will be filled as soon as a Seller sells their WBTC for the price you gave.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you are trading, best advise is not to keep your crypto coins on an Crypto Trader for an extended time frame. To withdraw your Wrapped Bitcoin (WBTC), go to the “Funds” tab and click on “Withdraw”. (WBTC) Wrapped Bitcoin can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Wrapped Bitcoin (WBTC) by using the provided drop-down box. Put into the volumen of Wrapped Bitcoin (WBTC) you'd wish to withdraw. Don't forget the displayed minimus/fees. Also make sure you have filled your precise withdraw address.

When you are satisfied, click on “Submit”. You could be asked for verfication via email/phone before a take off.

Kudos! You have successfully bought and stored (WBTC) Wrapped Bitcoin in Austria.

That's it!

Take offs from Crypto Trader can durate anywhere from 1 – 30 minutes (depending on network usage). Once you've confirmed your withdrawal using Etherscan.io or Ethplorer.io and the Wrapped Bitcoin (WBTC) is stored inside your wallet, you're done.