How to Buy Wrapped Bitcoin (WBTC) in Korea

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

Step 1 – Join CEX.io

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

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

Your Ethereum (ETH) or Bitcoin (BTC) has 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're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow these easy steps)

Make sure you've selected the correct coin you wish to deposit.

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

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been verified, you will now have access to your assets and you can start buying and trading. To buy (WBTC) Wrapped Bitcoin on Binance, you will want to go to the “Exchange” tab and after that click on “Basic”.

To locate (WBTC) Wrapped Bitcoin, you will need to insert the shortname of the coin (WBTC) into the search box, which is highlighted in the image. Make sure you have selected the proper pairing, we've highlighted this also. Click on “WBTC/BTC” to advance.

Step 4 – Acquisition of (WBTC) Wrapped Bitcoin

Once you have spotted (WBTC) Wrapped Bitcoin, you'll be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we're creating our Limit Order.

The “Price” field will be filled with the latest rate Wrapped Bitcoin (WBTC) was traded for. You can change this to your favoured price. The “Amount” field is the quantity of WBTC you want to buy. The field with the “Total” tag is the total price in BTC that you will pay for the complete volumen of WBTC.

When you are satisfied, make a mouse click on “Buy WBTC”. Your order will be filled as soon as a Seller trades their WBTC for the price you introduced.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you are trading, never keep your crypto on an Crypto Exchange for an extensive time period. To withdraw your (WBTC) Wrapped Bitcoin, hover over the “Funds” tab and click on “Withdraw”. (WBTC) Wrapped Bitcoin can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Wrapped Bitcoin (WBTC) by using the provided drop-down box. Put into the quantity of Wrapped Bitcoin (WBTC) you would like to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your precise withdraw address.

If you're happy, make a mouse click on “Submit”. You could be asked for verfication via phone/email before a withdrawal.

Kudos! You've successfully bought and stored Wrapped Bitcoin (WBTC) in Korea.

That's it!

Withdrawals from Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you have proved your take off using Etherscan.io or Ethplorer.io and the (WBTC) Wrapped Bitcoin is safe within your wallet, you're done.