How to Buy Wrapped Bitcoin (WBTC) in Timor-Leste

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

Step 1 – Join Kraken

In the beginning you'll need to buy one of the major coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below to register and to get your welcome Bitcoin or Ethereum.

Step 2 – Send Your Funds to an Crypto Trader

Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. Wrapped Bitcoin (WBTC) is accessible on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this how-to)

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

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find Wrapped Bitcoin (WBTC)

Once your deposit has been verified, you will instantly have access to your funds and you can commence buying and trading. To purchase (WBTC) Wrapped Bitcoin on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

In order to find Wrapped Bitcoin (WBTC), you'll need to put the short name of the asset (WBTC) into the search box, which is marked in the picture. Make sure you have choosen the proper pairing, we have highlighted this too. Click on “WBTC/BTC” to go ahead.

Step 4 – Acquisition of Wrapped Bitcoin (WBTC)

Once you have located (WBTC) Wrapped Bitcoin, you will be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). Next we're creating our own Limit Order.

The field with the “Price” tag will be filled with the most recent valuation (WBTC) Wrapped Bitcoin was sold for. This can be changed to your preferred rate. The “Amount” field is the amount of WBTC you like to purchase. The “Total” field is the aggregated price in Bitcoin that you will settle for the complete quantity of WBTC.

If you are glad, click on “Buy WBTC”. Your order will be filled as soon as a Vendor trades their WBTC for the price you introduced.

Step 5 – Withdraw Wrapped Bitcoin (WBTC)

Unless you are trading, best advise is not to keep crypto coins on an Cryptocurrency Exchange for an longer time frame. To take off your (WBTC) Wrapped Bitcoin, go to the “Funds” tab and mouse click on “Withdraw”. (WBTC) Wrapped Bitcoin can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Wrapped Bitcoin (WBTC) by using the provided drop-down box. Enter the amount of (WBTC) Wrapped Bitcoin you'd wish to take off. Don't forget the presented fees/minimums. Also make sure you have entered your correct withdraw address.

When you are glad, click “Submit”. You may be asked for verfication via email/phone ahead of a withdrawal.

Congrats! You've successfully purchased and safed (WBTC) Wrapped Bitcoin in Timor-Leste.

That's it!

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