How to Buy Wrapped Bitcoin (WBTC) in Singapore

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

Step 1 – Signup to Kraken

You'll first need to buy units of the bigger currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click the button below for registration and to get your first BTC (Bitcoin) or ETH (Ethereum).

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

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Wrapped Bitcoin (WBTC) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this manual)

Make sure you have selected the precise coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. In the case you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).

Step 3 – Locate Wrapped Bitcoin (WBTC)

As soon as your deposit has been verified, you will directly have access to your assets and you can begin buying and trading. To buy (WBTC) Wrapped Bitcoin on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

To locate (WBTC) Wrapped Bitcoin, you will need to put the cointype (WBTC) into the search box, which is marked in the graphic. Be certain of having choosen the right pairing, we've marked this too. Click on “WBTC/BTC” to go on.

Step 4 – Buy Wrapped Bitcoin (WBTC)

As soon as you have spotted Wrapped Bitcoin (WBTC), you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). Next we are going to create our own Limit Order.

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

If you're satisfied, click on “Buy WBTC”. Your plan will be filled as soon as a Vendor trades their WBTC for the price you submitted.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

Unless you're trading, best advise is not to keep crypto on an Exchange for an longer period of time. In order to take off your (WBTC) Wrapped Bitcoin, go to the tab called “Funds” and mouse click on “Withdraw”. (WBTC) Wrapped Bitcoin can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (WBTC) Wrapped Bitcoin by using the given drop-down box. Drop in the amount of (WBTC) Wrapped Bitcoin you'd wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your precise withdraw address.

If you are happy, click “Submit”. You could be asked for verfication via email/phone before a withdrawal.

Kudos! You have successfully purchased and stored (WBTC) Wrapped Bitcoin in Singapore.

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you've proved your withdrawal using Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is stored inside your wallet, you are all done.