Wrapped Bitcoin Crypto Price Prediction, Value and Chart (WBTC)

Wrapped Bitcoin (WBTC) Frequently Asked Questions

What is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.  To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. (Description provided by CryptoCompare)

How do I buy Wrapped Bitcoin?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Wrapped Bitcoin.

Where can I get Wrapped Bitcoin wallet?

Wrapped Bitcoin produces its own wallet software that is available for download on its website, which allows you to store Wrapped Bitcoin on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Wrapped Bitcoin?

One Wrapped Bitcoin (WBTC) is currently worth $29,957.38 on major cryptocurrency exchanges. You can also exchange one Wrapped Bitcoin for 0.99973780 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Wrapped Bitcoin in U.S. dollars is $8.53 billion.

What hashing algorithm does Wrapped Bitcoin use?

Wrapped Bitcoin is a proof of work (PoW) and proof of stake (PoS) coin that uses the Scrypt algorithm.

How do I mine Wrapped Bitcoin?

Wrapped Bitcoin and other Scrypt coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit. Major manufacturers of ASICs include BitMain (AntMiner), Microbt (Whatsminer), and Canaan (AvalonMiner). ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

What coins are similar to Wrapped Bitcoin?

The following coins use Wrapped Bitcoin's Scrypt algorithm and proof of work (PoW) and proof of stake (PoS) proof-type: Cosmos, Techpay Coin, Function X, Creditcoin, Nestree, Venus, mStable USD, Phantasma, Redd, Tranchess, Reflexer Ungovernance Token, Numbers Protocol, Galaxy Heroes Coin, Aurix and StableXSwap.