How to Buy Wrapped Bitcoin (WBTC) in Bermuda

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

Step 1 – Signup to Kraken

You will first need to purchase units of the top-tier currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and getting your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange

Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is obtainable 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 guide)

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

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been approved, you will directly have access to your finances and you can launch buying and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the tab which is called “Exchange” and mouse click on “Basic”.

In order to find (WBTC) Wrapped Bitcoin, you'll need to insert the shortname of the coin (WBTC) into the search box, which is marked in the image. Be certain of having choosen the right grouping, we've marked this also. Click on “WBTC/BTC” to progress.

Step 4 – Purchasing (WBTC) Wrapped Bitcoin

As soon as you've discovered Wrapped Bitcoin (WBTC), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're creating our Limit Order.

The “Price” field will be automatically filled with the most recent valuation (WBTC) Wrapped Bitcoin was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the volumen of WBTC you like to purchase. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the complete volumen of WBTC.

If you're happy, make a mouse click on “Buy WBTC”. Your order will be filled as soon as a Vender trades their WBTC for the price you gave.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

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

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

If you're satisfied, click on “Submit”. You could be asked for verfication via phone/email ahead of a take off.

Kudos! You've successfully purchased and stored (WBTC) Wrapped Bitcoin in Bermuda.

That's it!

Withdrawals from Crypto Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off with Etherscan.io or Ethplorer.io and the (WBTC) Wrapped Bitcoin is safe inside your wallet, you are done.