How to Buy Wrapped Bitcoin (WBTC) in Colombia

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

Step 1 – Join Kraken

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

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Wrapped Bitcoin (WBTC) is available on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this manual)

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, etc. In the case you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).

Step 3 – Find (WBTC) Wrapped Bitcoin

As soon as your deposit has been confirmed, you will now have access to your funds and you can start buying and trading. To purchase (WBTC) Wrapped Bitcoin on Binance, you'll want to hover over the tab which is called “Exchange” and then click on “Basic”.

To discover Wrapped Bitcoin (WBTC), you will need to insert the cointype (WBTC) into the search box, which is highlighted in the picture. Make sure you have selected the proper pairing, we've marked this too. Click on “WBTC/BTC” to proceed.

Step 4 – Purchasing (WBTC) Wrapped Bitcoin

After you've found (WBTC) Wrapped Bitcoin, you will be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). For now we are going to create our Limit Order.

The “Price” field will be filled automatically with the latest tariff Wrapped Bitcoin (WBTC) was traded for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of WBTC you want to buy. The field with the “Total” tag is the total price in BTC that you'll settle for the whole volumen of WBTC.

If you are glad, click on “Buy WBTC”. Your plan will be filled as soon as a Vendor sells their WBTC for the price you gave.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

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

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

If you are glad, click “Submit”. You could be requested for email/phone verification before a take off.

Kudos! You have successfully purchased and stored Wrapped Bitcoin (WBTC) in Colombia.

That's it!

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