How to Buy Wrapped Bitcoin (WBTC) in Isle Of Man

A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Isle Of Man

Step 1 – Join CEX.io

You'll first need to purchase units of the bigger currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Wrapped Bitcoin (WBTC) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this manual)

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

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been approved, you'll immediately have access to your assets and you can initiate invest and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the “Exchange” tab and after that mouse click on “Basic”.

To spot Wrapped Bitcoin (WBTC), you'll need to insert the cointype (WBTC) into the search-box, which is highlighted in the image. Be certain of having selected the proper pairing, we have highlighted this also. Click on “WBTC/BTC” to progress.

Step 4 – Purchasing Wrapped Bitcoin (WBTC)

After you've located (WBTC) Wrapped Bitcoin, you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we're making our Limit Order.

The field with the “Price” tag will be automatically filled with the recent rate (WBTC) Wrapped Bitcoin was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of WBTC you like to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll pay for the complete amount of WBTC.

If you are happy, make a mouse click on “Buy WBTC”. Your plan will be filled as soon as a Vendor trades their WBTC for the price you submitted.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

Unless you're frequently trading, you should never keepyour coins on an Cryptocurrency Exchange for an extended time period. In order to withdraw your Wrapped Bitcoin (WBTC), hover over the tab called “Funds” 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 Wrapped Bitcoin (WBTC) you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

When you're satisfied, click on “Submit”. You could be asked for phone/email verification before a withdrawal.

Kudos! You have successfully purchased and stored Wrapped Bitcoin (WBTC) in Isle Of Man.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (rely on usage of the network). Once you have confirmed your take off with Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored within your wallet, you are finished.