How to Buy Wrapped Bitcoin (WBTC) in Nigeria

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

Step 1 – Join Kraken

You will first need to buy units of the major currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Follow the Link below for registration and receive your welcome ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Send Your Ethereum or Bitcoin to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is accessible on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this manual)

Make sure you've chosen the correct coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. In the case you're using a decentralized exchange, like Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Locate (WBTC) Wrapped Bitcoin

Once your deposit has been confirmed, you'll directly have access to your assets and you can commence buying and trading. To buy (WBTC) Wrapped Bitcoin on Binance, you'll want to go to the “Exchange” tab and click on “Basic”.

To locate Wrapped Bitcoin (WBTC), you'll need to put the shortname of the coin (WBTC) into the search-box, which is highlighted in the picture. Be certain of having selected the right pairing, we've highlighted this too. Click on “WBTC/BTC” to proceed.

Step 4 – Buy (WBTC) Wrapped Bitcoin

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

The field with the “Price” tag will be filled automatically with the most latest price Wrapped Bitcoin (WBTC) was traded for. You can change this to your preferred 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 settle for the complete quantity 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 introduced.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

Unless you are frequently trading, best advise is not to keep your coins on an Exchange for an extended period of time. In order to withdraw your (WBTC) Wrapped Bitcoin, go to the “Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

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

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

Congratulations! You've successfully bought and stored (WBTC) Wrapped Bitcoin in Nigeria.

That's it!

Take offs from Crypto Exchange can take anywhere from 1 – 30 minutes (depending on network usage). Once you have proved your withdrawal with Etherscan.io or Ethplorer.io and the (WBTC) Wrapped Bitcoin is stored in your wallet, you are done.