Wrapped Bitcoin (WBTC)

What is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin on the Ethereum blockchain. Each WBTC is backed by 1 real BTC and custodized by certified entities. Its main goal is to allow the use of Bitcoin in the Ethereum DeFi ecosystem.

How does Wrapped Bitcoin work?

The operation of Wrapped Bitcoin is based on a custody model: when a user deposits BTC into an authorized custodian, an equivalent 1:1 WBTC is issued. This token can be used in DeFi applications like lending, staking, DEXs, or yield farming, taking advantage of the speed and flexibility of Ethereum.

Can Wrapped Bitcoin be mined?

No. Wrapped Bitcoin cannot be mined like Bitcoin. It is a token issued through a process called "wrapping", where a real BTC is locked to issue an equivalent WBTC. Its issuance depends on the BTC reserve, not on mining processes.

What is the difference between Bitcoin and Wrapped Bitcoin?

Bitcoin vs. Wrapped Bitcoin:

• Infrastructure: BTC on the Bitcoin blockchain; WBTC on Ethereum
• Usability: BTC is used as a store of value; WBTC is used in DeFi
• Custody: BTC is native; WBTC requires custodians for its issuance
• Speed and fees: WBTC can offer faster transactions depending on Ethereum's gas

How to buy Wrapped Bitcoin?

Buying Wrapped Bitcoin is quick and secure with Bitnovo. You can easily get WBTC using different payment methods. Just visit our page to buy Wrapped Bitcoin and choose the option that suits you best.

Available purchase methods

• Buy with credit/debit card: Use your Visa or Mastercard to get Wrapped Bitcoin instantly. We also accept Apple Pay and Google Pay for quick, hassle-free transactions.
• Bank transfer: Make a SEPA or SEPA Instant transfer to securely buy Wrapped Bitcoin directly from your bank account, with no lengthy procedures.
• Buy with cash: Get Bitnovo vouchers at over 40,000 physical locations and easily redeem them for Wrapped Bitcoin through our purchase platform.

Benefits of buying Wrapped Bitcoin with Bitnovo

• Quick and easy process: No complex registrations or lengthy verifications. Just choose your payment method and receive your WBTC in minutes.
• Multiple payment options: Pay by card, transfer, or cash - whatever works best for you.
• Guaranteed security: Bitnovo is a trusted platform with years of experience in the European crypto sector, designed for users seeking safe and straightforward transactions.

How to buy Wrapped Bitcoin with Bitnovo

If you prefer cash, Bitnovo offers a practical solution through crypto redeemable vouchers, available at thousands of points of sale.

Step by step guide:

Find a nearby store:

Use Bitnovo's search tool to locate partner stores in your area where you can purchase vouchers.

Purchase the voucher:

Visit your chosen store and buy a Bitnovo voucher for your desired amount, paying in cash.

Redeem your voucher for Wrapped Bitcoin:

• Go to the Bitnovo Vouchers redemption page.
• Enter your voucher code and your Wrapped Bitcoin wallet address.
• Confirm the transaction - you'll receive your Wrapped Bitcoin in your wallet within minutes.