A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Christmas Island
Step 1 – Signup to Kraken You will first need to purchase one of the major currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your welcome ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transmit Your Ethereum or Bitcoin to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is available on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow this manual) Make sure you've selected the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).
Step 3 – Locate (WBTC) Wrapped Bitcoin Once your deposit has been affirmed, you will instantly have access to your finances and you can initiate purchasing and trading. To invest in (WBTC) Wrapped Bitcoin on Binance, you'll want to hover over the “Exchange” tab and after that mouse click on “Basic”. In order to spot Wrapped Bitcoin (WBTC), you'll need to insert the shortname of the coin (WBTC) into the search box, which is marked in the image. Make sure you have choosen the right grouping, we have marked this too. Click on “WBTC/BTC” to go on.
Step 4 – Buying Wrapped Bitcoin (WBTC) Once you have located Wrapped Bitcoin (WBTC), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). Next we are going to make our Limit Order. The “Price” field will be automatically filled with the most latest rate (WBTC) Wrapped Bitcoin was traded for. This can be changed to your favoured rate. The “Amount” field is the volumen of WBTC you want to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete amount of WBTC. When you are glad, make a mouse click on “Buy WBTC”. Your order will be filled when a Seller sells their WBTC for the price you offered.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you're frequently trading, never keep your coins on an Exchange for an longer time frame. To take off your (WBTC) Wrapped Bitcoin, hover over the “Funds” tab and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Wrapped Bitcoin (WBTC) by using the given drop-down box. Put into the quantity of Wrapped Bitcoin (WBTC) you would wish to withdraw. Don't forget the shown minimus/fees. Also make sure you have filled your correct withdraw address. If you're satisfied, click on “Submit”. You may be asked for verfication via phone/email ahead of a withdrawal.