Swap Wrapped Bitcoin (WBTC)

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What is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is an ERC-20 digital token backed by Bitcoin (BTC) at a 1:1 ratio.

  • WBTC was created so that BTC could be integrated into the world of Ethereum wallets, dapps, and smart contracts.
  • WBTC is maintained by a group called the WBTC DAO, which was created by BitGo, Ren, and Kyber. This group now consists of over 30 members.
  • Through a WBTC partner, 1 Bitcoin can be converted to 1 Wrapped Bitcoin. When a user wishes to redeem BTC for WBTC, the corresponding WBTC token is burnt.

By connecting Bitcoin to the Ethereum ecosystem, Wrapped BTC helps deliver much-needed liquidity to DeFi protocols.

How do I swap Wrapped Bitcoin?

Enter amount to swap
Select the quantity of Wrapped Bitcoin you would like to swap.
Select coin to swap with
Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Wrapped Bitcoin

Why Should I Trade WBTC with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over two million Australians. We make it easy to buy and sell Wrapped Bitcoin no matter what your trading experience is. Unlike other international and Australian Wrapped Bitcoin exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Wrapped Bitcoin with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Wrapped Bitcoin how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Wrapped Bitcoin?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Wrapped Bitcoin for free.

Cold Storage

If you are holding Wrapped Bitcoin as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Wrapped Bitcoin. We are trusted by over two million customers and with just a few clicks, you can exchange Australian dollars or other cryptocurrencies for Wrapped Bitcoin. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Wrapped Bitcoin has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Wrapped Bitcoin is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Wrapped Bitcoin exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Wrapped Bitcoin & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Wrapped Bitcoin safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Wrapped Bitcoin portfolio here.
Yes! With CoinSpot you can convert your Wrapped Bitcoin to AUD (Australian dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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