How to Buy Wrapped Bitcoin (WBTC) in South Africa

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

Step 1 – Signup to Kraken

You'll first need to buy units of the top-tier coins. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click the button below to register and to get your welcome ETH (Ethereum) or BTC (Bitcoin).

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

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

Make sure you've chosen the exact coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. In the case you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow our manual).

Step 3 – Locate (WBTC) Wrapped Bitcoin

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

To find (WBTC) Wrapped Bitcoin, you'll need to insert the cointype (WBTC) into the search box, which is marked in the graphic. Make sure you have choosen the proper pairing, we have highlighted this also. Click on “WBTC/BTC” to advance.

Step 4 – Purchase (WBTC) Wrapped Bitcoin

Once you have located 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). And now we are going to create our Limit Order.

The “Price” field will be filled with the up-to-date rate Wrapped Bitcoin (WBTC) was sold for. This can be changed to your preferred price. The “Amount” field is the amount of WBTC you wish to purchase. The “Total” field is the aggregated price in Bitcoin that you will pay for the complete volumen of WBTC.

If you are glad, click on “Buy WBTC”. Your plan will be filled when a Vender sells their WBTC for the price you submitted.

Step 5 – Withdraw (WBTC) Wrapped Bitcoin

Unless you are frequently trading, you should never keepyour crypto on an Crypto Trader for an extensive period of time. In order to withdraw your Wrapped Bitcoin (WBTC), go to the “Funds” tab and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be stored securely 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 Wrapped Bitcoin (WBTC) you would like to withdraw. Take into account the displayed minimus/fees. Also make sure you have filled your precise withdraw address.

If you're glad, make a mouse click on “Submit”. You could be asked for verfication via email/phone before a withdrawal.

Kudos! You've successfully bought and stored Wrapped Bitcoin (WBTC) in South Africa.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on network usage). Once you've proved your take off using Etherscan.io or Ethplorer.io and the (WBTC) Wrapped Bitcoin is stored in your wallet, you are done.