A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Monaco
Step 1 – Signup to Kraken In the beginning you'll need to buy units of the major currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click the button below for registration and receive your first Ethereum or Bitcoin.
Step 2 – Transfer Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is obtainable on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this guide) Make sure you've selected the precise coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).
Step 3 – Find (WBTC) Wrapped Bitcoin As soon as your deposit has been affirmed, you'll now have access to your assets and you can launch purchasing and trading. To invest in Wrapped Bitcoin (WBTC) on Binance, you will want to hover over the “Exchange” tab and mouse click on “Basic”. To discover (WBTC) Wrapped Bitcoin, you'll 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 right grouping, we've marked this also. Click on “WBTC/BTC” to go on.
Step 4 – Purchasing Wrapped Bitcoin (WBTC) Once you've found Wrapped Bitcoin (WBTC), you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). For now we are making our Limit Order. The field with the “Price” tag will be filled with the most up-to-date price Wrapped Bitcoin (WBTC) was traded for. You can change this to your favoured rate. The “Amount” field is the amount of WBTC you want to purchase. The “Total” field is the aggregated price in Bitcoin that you'll pay for the whole volumen of WBTC. When you are satisfied, click on “Buy WBTC”. Your order will be filled when a Vender trades their WBTC for the price you offered.
Step 5 – Withdraw Wrapped Bitcoin (WBTC) Unless you're trading, best advise is not to keep your coins on an Exchange for an extensive time frame. In order to take off your (WBTC) Wrapped Bitcoin, go to the “Funds” tab and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find (WBTC) Wrapped Bitcoin by using the given drop-down box. Drop in the quantity of Wrapped Bitcoin (WBTC) you'd wish to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have entered your precise withdraw address. If you're glad, click on “Submit”. You may be requested for phone/email verification before a take off.