A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Australia
Step 1 – Signup to Coinbase – Get Free $10 You will first need to buy units of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click below for registration and getting your first 10$.
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your Ethereum (ETH) or Bitcoin (BTC) will need 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 example. Not sure on how to send Coinbase funds to an Exchange? (Follow this how-to) Make sure you have selected the exact coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our how-to).
Step 3 – Locate Wrapped Bitcoin (WBTC) As soon as your deposit has been verified, you'll now have access to your funds and you can commence invest and trading. To purchase (WBTC) Wrapped Bitcoin on Binance, you'll want to go to the “Exchange” tab and mouse click on “Basic”. In order to spot (WBTC) Wrapped Bitcoin, you'll need to insert the shortname of the coin (WBTC) into the search-box, which is marked in the image. Make sure you have choosen the correct grouping, we've highlighted this also. Click on “WBTC/BTC” to continue.
Step 4 – Buy Wrapped Bitcoin (WBTC) After you have found (WBTC) Wrapped Bitcoin, you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). Next we're going to create our own Limit Order. The “Price” field will be filled automatically with the latest rate (WBTC) Wrapped Bitcoin was sold for. This can be changed to your desired price. The field with the “Amount” tag is the quantity of WBTC you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete amount of WBTC. When you're satisfied, 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 trading, best advise is not to keep crypto on an Exchange for an longer time frame. In order to take off your (WBTC) Wrapped Bitcoin, hover over the tab called “Funds” and mouse click on “Withdraw”. (WBTC) Wrapped Bitcoin can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Wrapped Bitcoin (WBTC) by using the given drop-down box. Drop in the amount of (WBTC) Wrapped Bitcoin you'd like to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your right withdraw address. When you are satisfied, click “Submit”. You could be asked for verfication via phone/email before a withdrawal.