How to Buy Wrapped Bitcoin (WBTC) in Mongolia

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

Step 1 – Signup to Kraken

You will first need to purchase units of the major coins. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below for registration and getting your first BTC (Bitcoin) or ETH (Ethereum).

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

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Wrapped Bitcoin (WBTC) is available on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Just follow these easy steps)

Make sure you have selected the right coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow these easy steps).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been confirmed, you'll now have access to your funds and you can start buying and trading. To buy (WBTC) Wrapped Bitcoin on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

In order to locate Wrapped Bitcoin (WBTC), you'll need to insert the short name of the asset (WBTC) into the search box, which is highlighted in the graphic. Be certain of having selected the proper grouping, we've highlighted this also. Click on “WBTC/BTC” to proceed.

Step 4 – Purchase Wrapped Bitcoin (WBTC)

As soon as you've discovered (WBTC) Wrapped Bitcoin, you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). For now we are going to make our Limit Order.

The field with the “Price” tag will be automatically filled with the most recent valuation Wrapped Bitcoin (WBTC) was traded for. You can change this to your favoured price. The “Amount” field is the volumen of WBTC you like to buy. The field with the “Total” tag is the total price in Bitcoin that you will pay for the whole amount of WBTC.

If you're glad, click on “Buy WBTC”. Your order will be filled as soon as a Vender sells their WBTC for the price you submitted.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

Unless you're regularly trading, you should never keepyour crypto coins on an Exchange for an extended time frame. To take off your Wrapped Bitcoin (WBTC), go to the tab called “Funds” and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (WBTC) Wrapped Bitcoin by using the given drop-down box. Put into the amount of (WBTC) Wrapped Bitcoin you'd wish to take off. Take into account the displayed minimus/fees. Also make sure you have filled your precise withdraw address.

If you're satisfied, click “Submit”. You may be requested for verfication via email/phone before a withdrawal.

Kudos! You have successfully bought and stored Wrapped Bitcoin (WBTC) in Mongolia.

That's it!

Take offs from Crypto Exchange can durate between 1 – 30 minutes (rely on network usage). Once you have proved your take off with Etherscan.io or Ethplorer.io and the Wrapped Bitcoin (WBTC) is stored in your wallet, you're done.