How to Buy Wrapped Bitcoin (WBTC) in Luxembourg

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

Step 1 – Join Kraken

You'll first need to buy one of the bigger currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below for registration and receive your welcome Bitcoin or Ethereum.

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

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

Make sure you've chosen the right coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).

Step 3 – Locate Wrapped Bitcoin (WBTC)

As soon as your deposit has been verified, you'll directly have access to your funds and you can start buying and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the “Exchange” tab and mouse click on “Basic”.

To discover (WBTC) Wrapped Bitcoin, you'll need to put the shortname of the coin (WBTC) into the search-box, which is highlighted in the image. Make sure you have selected the right grouping, we have highlighted this too. Click on “WBTC/BTC” to go on.

Step 4 – Purchase (WBTC) Wrapped Bitcoin

Once you have found Wrapped Bitcoin (WBTC), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). And now we are creating our own Limit Order.

The “Price” field will be filled with the up-to-date price Wrapped Bitcoin (WBTC) was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the quantity of WBTC you like to buy. The “Total” field is the whole price in Bitcoin that you will pay for the whole quantity of WBTC.

If you're glad, make a mouse click on “Buy WBTC”. Your plan will be filled when a Vender trades their WBTC for the price you gave.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

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

Locate Wrapped Bitcoin (WBTC) by using the given drop-down box. Enter the amount of (WBTC) Wrapped Bitcoin you would like to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your correct withdraw address.

When you are satisfied, click “Submit”. You may be asked for phone/email verification before a take off.

Congratulations! You've successfully purchased and safed Wrapped Bitcoin (WBTC) in Luxembourg.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). Once you have confirmed your take off using Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored in your wallet, you are done.