How to Buy Wrapped Bitcoin (WBTC) in Svalbard

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

Step 1 – Signup to CEX.io

In the beginning you'll need to buy units of the top-tier currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and to get your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange

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

Make sure you have chosen the right coin you wish to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're using a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our manual).

Step 3 – Find Wrapped Bitcoin (WBTC)

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

To locate (WBTC) Wrapped Bitcoin, you will need to insert the shortname of the coin (WBTC) into the search box, which is marked in the graphic. Be certain of having choosen the proper pairing, we have marked this also. Click on “WBTC/BTC” to proceed.

Step 4 – Buying Wrapped Bitcoin (WBTC)

Once you've spotted (WBTC) Wrapped Bitcoin, you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). And now we're going to make our Limit Order.

The field with the “Price” tag will be filled automatically with the recent rate Wrapped Bitcoin (WBTC) was sold for. You can change this to your desired rate. The field with the “Amount” tag is the quantity of WBTC you like to purchase. The “Total” field is the aggregated price in BTC that you'll pay for the complete volumen of WBTC.

When you're satisfied, make a mouse click on “Buy WBTC”. Your plan will be filled as soon as a Vendor sells their WBTC for the price you introduced.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you're regularly trading, best advise is not to keep crypto coins on an Crypto Exchange for an extended time frame. In order to withdraw your (WBTC) Wrapped Bitcoin, go to the tab called “Funds” and mouse click on “Withdraw”. Wrapped Bitcoin (WBTC) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you're satisfied, click on “Submit”. You may be requested for verfication via phone/email ahead of a withdrawal.

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

That's it!

Take offs from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off using Ethplorer.io or Etherscan.io and the (WBTC) Wrapped Bitcoin is safe within your wallet, you are done.