What Is Wrapped Bitcoin (WBTC)? Bridging Bitcoin to the World of DeFi

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Bittime -Wrapped Bitcoin (WBTC) is here as an innovative solution to bring Bitcoin (BTC) to the world of decentralized finance (DeFi) . WBTC allows users to leverage their BTC assets in various DeFi protocols, such as yield farming, lending, and trading, without having to leave the Bitcoin blockchain.

What is Wrapped Bitcoin (WBTC)?

WBTC is an ERC-20 token that represents Bitcoin staked on the WBTC platform. When users deposit BTC to the WBTC platform, they receive WBTC in return. This WBTC can be used in various DeFi protocols to gain profits.

Wrapped Bitcoin (WBTC) Key Products & Features

• Bridging Bitcoin to DeFi: WBTC allows users to leverage their BTC assets in a variety of DeFi protocols.
• Compatibility with Ethereum: WBTC is an ERC-20 token that is compatible with all platforms and wallets that support Ethereum.
• Centralization: WBTC is controlled by a federation of custodians who are responsible for maintaining the security of staked BTC.
• Audits: WBTC is regularly audited by reputable blockchain security companies.

What is WBTC Token?

WBTC is an ERC-20 token that represents Bitcoin staked on the WBTC platform. WBTC has the same value as the BTC it represents, and its value will increase over time as staking rewards accumulate .

Tokenomic Token WBTC

• Total Supply: 157.061.9 WBTC
• Circulating Supply: 157.061.9 WBTC
• Market Cap: Rp. 127.86T (as of February 21, 2024)

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Wrapped Bitcoin (WBTC) Fundamental Analysis

• Technology: WBTC uses advanced and proven blockchain technology to maintain the security of staked BTC.
• Team: WBTC is managed by an experienced and professional team in the blockchain industry.
• Community: WBTC has an active and supportive global community.
• Partnerships: WBTC has partnered with some of the leading organizations in the blockchain industry.

Comparison of Wrapped Bitcoin (WBTC) & Competitors

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Founder & Tim Wrapped Bitcoin (WBTC)

• BitGo: Primary custodian
• Kyber Network: Liquidity provider
• Ren Protocol: Cross-chain infrastructure provider

Expert Opinion About Wrapped Bitcoin (WBTC)

• CoinTelegraph: "WBTC is one of the most popular solutions for bringing Bitcoin to DeFi."
• Forbes: "WBTC opens up new opportunities for Bitcoin investors to leverage their assets in the world of DeFi."
• CoinMarketCap: "WBTC is one of the ERC-20 tokens with the largest market capitalization."

Conclusion

Wrapped Bitcoin (WBTC) is an innovative solution that allows users to leverage their BTC assets in various DeFi protocols. WBTC offers compatibility with Ethereum, high security, and access to various investment opportunities. WBTC is an ideal choice for investors who want to profit from Bitcoin in the DeFi era.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC) ,  Ethereum (ETH ) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is wETH (Wrapped Ethereum) and How Does It Work?

What is Chromia (CHR)? Blockchain Platform for DApps

ETH IDR vs ETH USDT: Ethereum Trader's Dilemma

Why Does Ethereum (ETH) Price Continue to Increase?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.