A Step-by-Step-Guide on how to buy Wrapped Bitcoin (WBTC) in Canada
Step 1 –
Join Coinbase and recieve 10$ for free
In the beginning you'll need to buy one of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click the button below for registration and getting your first $10.
Step 2 –
Transfer Your Funds to an Exchange
Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Wrapped Bitcoin (WBTC) is accessible on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this guide)
Make sure you've selected the correct coin you want to deposit.
Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow these easy steps).
Step 3 –
Find (WBTC) Wrapped Bitcoin
As soon as your deposit has been affirmed, you will directly have access to your assets and you can launch invest and trading. To buy Wrapped Bitcoin (WBTC) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.
To spot Wrapped Bitcoin (WBTC), you'll need to put the cointype (WBTC) into the search-box, which is marked in the picture. Make sure you have selected the proper pairing, we have highlighted this also. Click on “WBTC/BTC” to advance.
Step 4 –
Purchase (WBTC) Wrapped Bitcoin
Once you've spotted Wrapped Bitcoin (WBTC), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we're making our Limit Order.
The “Price” field will be automatically filled with the recent price (WBTC) Wrapped Bitcoin was sold for. You can change this to your preferred rate. The field with the “Amount” tag is the volumen of WBTC you like to buy. The field with the “Total” tag is the aggregated price in BTC that you'll settle for the whole amount of WBTC.
When you're glad, click on “Buy WBTC”. Your order will be filled as soon as a Vender sells their WBTC for the price you gave.
Step 5 –
Withdraw (WBTC) Wrapped Bitcoin
Unless you're regularly trading, best advise is not to keep your crypto coins on an Exchange for an extensive period of time. To take off your (WBTC) Wrapped Bitcoin, go to the “Funds” tab and click on “Withdraw”. Wrapped Bitcoin (WBTC) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)
Locate (WBTC) Wrapped Bitcoin by using the provided drop-down box. Drop in the volumen of (WBTC) Wrapped Bitcoin you'd wish to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address.
If you are happy, make a mouse click on “Submit”. You may be asked for email/phone verification ahead of a withdrawal.
