How to Buy Wrapped Bitcoin (WBTC) in Saudi Arabia

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

Step 1 – Join Kraken

You'll first need to purchase units of the top-tier coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below to register and getting your first Ethereum (ETH) or Bitcoin (BTC).

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

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

Make sure you've selected the correct coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been confirmed, you'll instantly have access to your funds and you can start purchasing and trading. To buy Wrapped Bitcoin (WBTC) on Binance, you will want to hover over the “Exchange” tab and mouse click on “Basic”.

To find (WBTC) Wrapped Bitcoin, you will need to put the shortname of the coin (WBTC) into the search-box, which is marked in the image. Make sure you have choosen the right grouping, we've marked this also. Click on “WBTC/BTC” to continue.

Step 4 – Buying Wrapped Bitcoin (WBTC)

Once you have located Wrapped Bitcoin (WBTC), you will be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). Next we are going to create our own Limit Order.

The “Price” field will be filled with the latest rate Wrapped Bitcoin (WBTC) was traded for. You can change this to your preferred rate. The “Amount” field is the volumen of WBTC you want to buy. The field with the “Total” tag is the total price in BTC that you will settle for the whole volumen of WBTC.

When you are glad, make a mouse click on “Buy WBTC”. Your order will be filled when a Vender sells their WBTC for the price you introduced.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

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

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

When you're happy, click “Submit”. You could be requested for phone/email verification before a withdrawal.

Kudos! You've successfully purchased and stored (WBTC) Wrapped Bitcoin in Saudi Arabia.

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is safe in your wallet, you're done.