How to Buy Wrapped Bitcoin (WBTC) in Iceland

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

Step 1 – Signup to CEX.io

You will first need to buy units of the major coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below for registration and getting your welcome Bitcoin or Ethereum.

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Wrapped Bitcoin (WBTC) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow these easy steps)

Make sure you have chosen the correct coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. If you're using a decentralized exchange, such as Airswap or DDEX could be different (Follow our manual).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been affirmed, you'll now have access to your assets and you can begin invest and trading. To invest in (WBTC) Wrapped Bitcoin on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To locate (WBTC) Wrapped Bitcoin, you will need to insert the cointype (WBTC) into the search-box, which is marked in the picture. Be certain of having selected the right pairing, we've marked this also. Click on “WBTC/BTC” to proceed.

Step 4 – Purchasing Wrapped Bitcoin (WBTC)

Once you've located (WBTC) Wrapped Bitcoin, you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). And now we're going to create our Limit Order.

The field with the “Price” tag will be filled automatically with the most recent price (WBTC) Wrapped Bitcoin was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the quantity of WBTC you want to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the complete quantity of WBTC.

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

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you're trading, you should never keepyour crypto on an Crypto Exchange for an longer time frame. To take off your (WBTC) Wrapped Bitcoin, go to the tab called “Funds” and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you're satisfied, click on “Submit”. You may be requested for phone/email verification before a take off.

Congrats! You have successfully bought and stored Wrapped Bitcoin (WBTC) in Iceland.

That's it!

Withdrawals from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored within your wallet, you are done.