How to Buy Wrapped Bitcoin (WBTC) in Micronesia

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

Step 1 – Signup to CEX.io

You will first need to buy one of the major currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Follow the Link below to register and getting your first Ethereum or Bitcoin.

Step 2 – Transmit Your Funds to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) 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 will use that as an illustration. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this manual)

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

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so forth. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Find (WBTC) Wrapped Bitcoin

Once your deposit has been affirmed, you will immediately have access to your assets and you can begin invest and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you will want to go to the “Exchange” tab and after that click on “Basic”.

To spot Wrapped Bitcoin (WBTC), you will need to put the short name of the asset (WBTC) into the search-box, which is marked in the image. Make sure you have selected the correct pairing, we've marked this also. Click on “WBTC/BTC” to progress.

Step 4 – Buy Wrapped Bitcoin (WBTC)

Once you have spotted Wrapped Bitcoin (WBTC), you will be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). Next we are going to create our Limit Order.

The “Price” field will be filled automatically with the up-to-date valuation (WBTC) Wrapped Bitcoin was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of WBTC you want to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the complete volumen of WBTC.

When you're happy, make a mouse click on “Buy WBTC”. Your plan will be filled as soon as a Seller trades their WBTC for the price you offered.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

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

Locate (WBTC) Wrapped Bitcoin by using the provided drop-down box. Drop in the volumen of (WBTC) Wrapped Bitcoin you would like to take off. Take into account the shown fees/minimums. Also make sure you have entered your precise withdraw address.

When you're happy, click “Submit”. You could be asked for phone/email verification before a take off.

Congratulations! You have successfully purchased and safed Wrapped Bitcoin (WBTC) in Micronesia.

That's it!

Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have confirmed your take off using Etherscan.io or Ethplorer.io and the Wrapped Bitcoin (WBTC) is stored within your wallet, you are all done.