How to Buy Wrapped Bitcoin (WBTC) in Palau

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

Step 1 – Join Kraken

In the beginning you'll need to buy one of the top-tier currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for Altcoins. Follow the Link below to register and receive your first Ethereum or Bitcoin.

Step 2 – Transfer Your Funds to an Exchange

Your Bitcoin or Ethereum has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Wrapped Bitcoin (WBTC) is accessible on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this guide)

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

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).

Step 3 – Locate (WBTC) Wrapped Bitcoin

As soon as your deposit has been verified, you'll instantly have access to your finances and you can launch invest and trading. To purchase Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.

To find Wrapped Bitcoin (WBTC), you'll need to insert the short name of the asset (WBTC) into the search-box, which is highlighted in the picture. Be certain of having selected the proper pairing, we've highlighted this too. Click on “WBTC/BTC” to advance.

Step 4 – Buy Wrapped Bitcoin (WBTC)

Once you have found Wrapped Bitcoin (WBTC), 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 are making our Limit Order.

The field with the “Price” tag will be filled automatically with the latest price Wrapped Bitcoin (WBTC) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the amount of WBTC you wish to buy. The “Total” field is the aggregated price in BTC that you will settle for the complete amount of WBTC.

If you're satisfied, make a mouse click on “Buy WBTC”. Your order will be filled when a Vender trades 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 Cryptocurrency Exchange for an extended period of time. In order to take off your Wrapped Bitcoin (WBTC), hover over the “Funds” tab and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Wrapped Bitcoin (WBTC) by using the provided drop-down box. Enter the quantity of (WBTC) Wrapped Bitcoin you would wish to withdraw. Don't forget the shown fees/minimums. Also make sure you have filled your precise withdraw address.

When you are satisfied, click on “Submit”. You may be requested for email/phone verification before a withdrawal.

Congratulations! You have successfully bought and safed Wrapped Bitcoin (WBTC) in Palau.

That's it!

Withdrawals from Exchange can take between 1 – 30 minutes (depending on usage of the network). As soon as you've confirmed your take off with Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored in your wallet, you are finished.