How to Buy Wrapped Bitcoin (WBTC) in New Zealand

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

Step 1 – Join Coinbase – Get Free $10

You'll first need to purchase units of the top-tier currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click the button below to register and receive your welcome 10$.

Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Trader

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Wrapped Bitcoin (WBTC) is accessible on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Follow our how-to).

Step 3 – Find (WBTC) Wrapped Bitcoin

As soon as your deposit has been confirmed, you will instantly have access to your finances and you can begin purchasing and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you'll want to hover over the “Exchange” tab and after that mouse click on “Basic”.

To locate Wrapped Bitcoin (WBTC), you'll need to put the cointype (WBTC) into the search box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we have highlighted this also. Click on “WBTC/BTC” to go on.

Step 4 – Buying Wrapped Bitcoin (WBTC)

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

The “Price” field will be automatically filled with the most latest rate (WBTC) Wrapped Bitcoin was sold for. This can be changed to your favoured rate. The “Amount” field is the volumen of WBTC you like to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete amount of WBTC.

If you're glad, click on “Buy WBTC”. Your plan will be filled when a Seller sells their WBTC for the price you introduced.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you're frequently trading, never keep your coins on an Cryptocurrency Exchange for an extended time frame. In order to take off your (WBTC) Wrapped Bitcoin, hover over the tab called “Funds” and mouse click on “Withdraw”. (WBTC) Wrapped Bitcoin can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Wrapped Bitcoin (WBTC) by using the given drop-down box. Put into the quantity of (WBTC) Wrapped Bitcoin you would wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address.

If you're glad, make a mouse click on “Submit”. You may be requested for email/phone verification ahead of a take off.

Congrats! You have successfully purchased and stored (WBTC) Wrapped Bitcoin in New Zealand.

That's it!

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