The WBTC (Wrapped Bitcoin) token is a cryptocurrency that represents Bitcoin on the Ethereum blockchain. It is a tokenized version of Bitcoin that operates within Ethereum's ecosystem, allowing Bitcoin holders to engage in Ethereum's decentralized finance (DeFi) activities without needing to sell their Bitcoin. This bridging function facilitates greater liquidity and integration between the Bitcoin and Ethereum blockchains, enabling Bitcoin to be used directly in Ethereum's DeFi applications.
How to buy Wrapped BTC on Monitok?
How to buy Wrapped BTC on Monitok?
Seamless steps to get started on Wrapped BTC trading
Download & install the Monitok App
Navigate to your device's app store and download the Monitok app. Follow instructions for a quick & easy setup.
Create an Account
Open the Monitok app, follow the prompts to create an account and wallet. Secure it by saving the wallet's seed phrase and using a strong password.
Buy Wrapped BTC (WBTC)
Get WBTC on Arbitrum via deposit from another wallet OR using your credit card. Once your account is set up, you can obtain or deposit WBTC to start trading efficiently.
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WBTC is an ERC-20 token on the Ethereum blockchain that is pegged to Bitcoin (BTC). WBTC is backed one-to-one with Bitcoin. Before WBTC, the only way to use Bitcoin in a financial transaction was through centralized entities, like centralized exchanges (CEXs).
You can buy WBTC directly on the Monitok app with a credit card. Here’s how:
1. Create an account on the app
2. Go to your wallet
3. Click the “Buy” button
4. Follow the steps & input your credit card information
Voila! You just bought WBTC with a credit card.
For bank transfers, you can use several on-ramp providers integrated on Monitok. The flow looks more or less similar:
1. Go to your wallet
2. Press the “Buy” button
3. Select the amount you would like to buy
4. Select the “Manual Bank Transfer” payment method
5. Go to your bank account
6. Send money to displayed IBAN with displayed reference code from your bank account
P.S.: It takes up to two days for your assets to be attributed to your account.
Monitok is a self-custodial exchange with price aggregation from 100+ DEXs to bring the best price for your trading. Also, with self-custody, only you have access to your assets, along with you can track all your portfolio from the Monitok mobile app. In addition to that, with our fiat on/off-ramp feature, you don’t need several applications, you can buy/sell all your crypto and fiat on the app.
Wrapped Bitcoin is a token and it means it is a cryptocurrency, which based its activities on the blockchain of other cryptocurrencies such as Ethereum Blockchain or EOS Blockchain.
Check out more tokens
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