How to Buy Wrapped Bitcoin (WBTC) in Somalia

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier currencies. Exchanges commonly accept either Ethereum or Bitcoin in exchange for alternative Coins. Click below to register and receive your first Bitcoin or Ethereum.

Step 2 – Send Your Bitcoin or Ethereum to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Wrapped Bitcoin (WBTC) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow these easy steps)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Locate (WBTC) Wrapped Bitcoin

Once your deposit has been affirmed, you will instantly have access to your funds and you can begin invest and trading. To invest in (WBTC) Wrapped Bitcoin on Binance, you'll want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

In order to find Wrapped Bitcoin (WBTC), you will need to insert the cointype (WBTC) into the search box, which is marked in the image. Be certain of having choosen the correct pairing, we have marked this also. Click on “WBTC/BTC” to proceed.

Step 4 – Buy (WBTC) Wrapped Bitcoin

As soon as you have discovered Wrapped Bitcoin (WBTC), you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). Next we are making our own Limit Order.

The field with the “Price” tag will be filled with the most recent rate (WBTC) Wrapped Bitcoin was traded for. You can change this to your desired rate. The “Amount” field is the quantity of WBTC you like to buy. The “Total” field is the total price in Bitcoin that you will settle for the complete volumen of WBTC.

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

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you're frequently trading, you should never keepyour crypto on an Exchange for an longer period of time. To take off your (WBTC) Wrapped Bitcoin, hover over the “Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you are satisfied, click “Submit”. You could be requested for verfication via email/phone before a take off.

Congrats! You have successfully purchased and stored (WBTC) Wrapped Bitcoin in Somalia.

That's it!

Withdrawals from Exchange can durate between 1 – 30 minutes (rely on network usage). Once you have proved your withdrawal with Etherscan.io or Ethplorer.io and the Wrapped Bitcoin (WBTC) is stored in your wallet, you are done.