How to Buy Wrapped Bitcoin (WBTC) in Papua New Guinea

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

Step 1 – Join CEX.io

You will first need to buy units of the top-tier coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below to register and receive your first Ethereum (ETH) or Bitcoin (BTC).

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

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is similar. Wrapped Bitcoin (WBTC) is available on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide)

Make sure you have selected the correct coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our guide).

Step 3 – Find Wrapped Bitcoin (WBTC)

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

In order to find Wrapped Bitcoin (WBTC), you'll need to insert the short name of the asset (WBTC) into the search box, which is marked in the image. Be certain of having choosen the proper pairing, we have marked this also. Click on “WBTC/BTC” to progress.

Step 4 – Purchasing Wrapped Bitcoin (WBTC)

After you have found Wrapped Bitcoin (WBTC), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). For now we're making our Limit Order.

The “Price” field will be automatically filled with the most up-to-date rate Wrapped Bitcoin (WBTC) was traded for. This can be changed to your favoured price. The “Amount” field is the amount of WBTC you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the whole amount of WBTC.

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

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you are frequently trading, best advise is not to keep coins on an Cryptocurrency Exchange for an extensive time frame. To take off your Wrapped Bitcoin (WBTC), hover over the “Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Wrapped Bitcoin (WBTC) by using the provided drop-down box. Enter the volumen of (WBTC) Wrapped Bitcoin you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have entered your correct withdraw address.

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

Congratulations! You have successfully bought and safed (WBTC) Wrapped Bitcoin in Papua New Guinea.

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). Once you've confirmed your take off using Ethplorer.io or Etherscan.io and the Wrapped Bitcoin (WBTC) is stored inside your wallet, you're all done.