CEX.IO Bitcoin Exchange

Open the CEX.IO app

Get the App

Buy cryptocurrency

Wrapped Bitcoin

0.00%

Market Cap (USD)

$11B

24H VOLUME (USD)

$15K

Daily change

$11

This is a representation of the wBTC price chart. In a graphical presentation, the chart pattern is a distinctive formation that generates a trading signal and a sign of potential price changes. If you want each point to reflect the closing price for each day the stock is traded, you can obtain a quick look at stock prices over a specified period or for a year.

Wrapped Bitcoin (wBTC) price chart

Candlesticks make it simpler to see whether a market is bullish or bearish by displaying "bodies" in different colors. Red indicates a price drop, whereas green indicates an increase.

On a candlestick, the high-to-low range is displayed by a vertical line. The bigger block, or "body," symbolizes the price differential between the opening and closing prices.

On this page, you can find a market chart that shows Wrapped Bitcoin price over time. When you execute your trading strategy, you can spot and examine price movements and price trends and do price analysis.

What is Wrapped Bitcoin (wBTC)

Wrapped Bitcoin (wBTC) is a coin that is ERC-20 compliant. It can be used in decentralized applications powered by Ethereum and has a 1:1 value backed by Bitcoin (BTC).

The practical purpose of wBTC is to enable interoperability between Bitcoin and Ethereum (ETH). Because there is no need to perform them across blockchains, using BTC within an Ethereum ecosystem provides quick transactions. wBTC blends Ethereum's superior programmability with Bitcoin's high liquidity and price value as a tokenized Bitcoin asset. You may have noticed that Ethereum has had a significant impact on the overall crypto scene, if you wish to buy Ethereum or explore it further, follow the provided link. 

It is crucial to realize, however, that Wrapped Bitcoin is merely backed by Bitcoin and acts as a link to ETH decentralized applications rather than being Bitcoin itself. Therefore, when you have wBTC, you are not holding Bitcoin and do not gain access to the BTC network's features. It merely acts as a method for standardizing Bitcoin to the ERC-20 format reliably and transparently.

How is Wrapped Bitcoin minted?

The bitcoin owner should use a merchant such as Airswap or DiversiFi to tokenize their bitcoin into Wrapped BTC and also hire a BitGo custodian to store the assets to create the Wrapped BTC.

The entire procedure goes like this:

As a Bitcoin owner, the user can choose a trader who will start the transaction. The custodian will receive the user’s Bitcoin from the merchant, permitting it to mint wBTC. When the BTC transaction has received several confirmations, the custodian will create fresh wBTC and deliver them to the merchant's Ethereum address. The user will then be able to ask the merchant directly for their wBTC, and after they have confirmed the user’s ID, wBTC will be received, and the merchant obtains BTC.

In a decentralized exchange, you can convert an Ethereum-based currency, such as ETH or USDT, into Wrapped BTC.

Wrapped Bitcoin opportunities in DeFi

Due to Bitcoin's incredible growth and DeFi's steady expansion, Wrapped BTC is steadily increasing in value and had a $9.8 billion market cap in early 2022.

wBTC offers a variety of opportunities in the DeFi sector. It provides an option to take advantage of yield farming or liquidity mining, for instance, and a way to participate in DeFi lending pools. Wrapped Bitcoin can also be used as collateral for a loan backed by cryptocurrency or for margin trading on platforms for crypto derivatives.

Additional Bitcoin tokenized versions

While wrapped BTC is unquestionably the most well-liked Bitcoin tokenized version, other prominent variants include BTCB and renBTC.

With a market valuation of $5.4B in early 2022, BTCB is one of the fastest-growing pegged coins on the BNB Chain and is now gaining popularity at a remarkable rate. RenBTC is an alternative ERC-20 tokenized variation of bitcoin. This pegged coin provides inter-chain liquidity for decentralized applications.

Wrapped coins, despite their rising popularity, have one major drawback that has to do with centralization. Wrapping cannot be automated using a smart contract on the Ethereum blockchain for wBTC or other pegged assets; instead, it is carried out via a centralized mechanism.

Due to their dependence on the issuing platform, these assets are subject to manipulation. The fundamental ideas of decentralization are undermined by the fact that all decisions are made centrally. Additionally, they rely on the custodian's level of security and dependability and the decentralized software built on Ethereum.

Another thing to keep in mind is that coins backed by Bitcoin are just as susceptible to the cryptocurrency market's volatility as Bitcoin itself.

History of wrapped bitcoin

wBTC began operations in January 2019. It is run by a consortium of companies, including BitGo, Compound, Dharma, Kyber, MakerDAO, Ren, and TokenSets, and started as a joint venture amongst some major DeFi players. Their only objective is to increase the Ethereum network's liquidity. Additionally, it was only logical to begin harvesting given the enormous amounts of Bitcoin idle in cold storage wallets.

Buy Wrapped-bitcoin

Who are the wrapped bitcoin founders?

BitGo Inc., Kyber Network, and Ren (formerly Republic Protocol) created the wrapped Bitcoin protocol. On January 24, 2019, this consortium published the wBTC whitepaper, and on January 31, 2019, the cryptocurrency was launched with the help of eight businesses who facilitated bitcoin to wBTC conversions. After that, more merchants joined.

Control over the wBTC protocol is exercised by an autonomous decentralized organization (DAO). In 2021, The wBTC DAO had 17 members who represent various DeFi ecosystem interests. Members of the wrapped bitcoin DAO each possess a key to the system's multi-signature wallet.

Members can vote to add or remove members and modify the smart contracts that form the system's foundation using these keys. On the Ethereum and Bitcoin blockchains, the public may observe the minting and burning of wBTC. As an added security measure, BitGo conducts routine system audits and launches a proof of reserve transaction on the Bitcoin blockchain that enables users to confirm the legitimacy of bitcoin reserves.

How does wrapped bitcoin work?

Wrapped bitcoin offers a method for bitcoin owners to use DeFi using smart contract capability for bitcoin transfers. This increases the cryptocurrency's liquidity and brings it to the DeFi market.

A so-called merchant contacts the custodian with a request for a new wBTC to be created or "minted."

According to the wBTC white paper, the customer gives bitcoin to the custodian, who then mints wBTC and delivers it to the customer's Ethereum blockchain wallet. The merchant can then exchange the wrapped bitcoin for a customer's equivalent amount of bitcoin. Know Your Customer and anti-money laundering procedures must be carried out with end users by merchants.

Burning removes wBTC from circulation, such as when a user wants to convert wBTC back to bitcoin.

The merchant activates the controlling contract's "burn" mechanism, which lowers its wBTC balance. The merchant can then pay the end-user back using the bitcoins released by the custodian to the merchant.

Wrapped bitcoin price index over time

Because of the 1:1 mapping with bitcoin, the wBTC price tends to track that of the larger cryptocurrency. It touched an all-time low of $3,139.17 on April 2, 2019, before climbing to a record-high price of $66,109.97 on October 20, 2021, the same day as bitcoin.

How to buy wrapped bitcoin with a debit or credit card

When it comes to buying crypto, you have a lot of options to think about. There can be Bitcoin ATMs in your city supporting wBTC coin or you can register an account in a decentralized exchange to convert your ERC-20 tokens into wBTC. 

But if you’re looking for a reliable and easy way to buy crypto you will need a robust crypto trading platform like CEX.IO.

To buy wBTC on the CEX.IO exchange: 

  • Create and verify your account

You need a valid email address and a solid password to create an account. To transact, you'll need an ID and proof of address, so make sure you have these on hand. 

  • Go to the Instant Buy page

You can find it in the upper left drop-down menu on any page of the CEX.IO Website.

  • Select wrapped bitcoin from the list of assets

Click on the BTC ticker to open the assets menu. Select wBTC from the dropdown list, and select the currency you wish to buy it for.

  • Enter the wished amount

Input the amount you desire to spend in USD. It will be automatically converted into a wBTC amount you can receive. You can also select pre-made values instead of your custom value. 

  • Finnish your purchase

Tap “Buy” when ready. You’ll be shown the details of your purchase. Make sure to double-check the details and then confirm your purchase. That’s it, you’ve bought wBTC.

Where to buy wrapped bitcoin or other crypto

If you are wondering how to buy BTC with a credit card or how to buy crypto with a debit card, you can go to a crypto trading platform called CEX.IO for help. Here you can also buy Binance coinbuy Dogecoin, trade bitcoin to USD, and sell bitcoin. If you want to keep up with live crypto prices, CEX.IO can come in handy.

Wrapped bitcoin (WBTC) price history

All cryptocurrencies, including wrapped bitcoin, are speculative, highly complex, and involve substantial risks — they are highly volatile and sensitive to secondary activity.

Performance is unpredictable, and wBTC's past results do not guarantee future results. Before deciding on this information or making your wrapped bitcoin price prediction, consider your circumstances and seek counsel.

Before making any decisions, you should also confirm the specifics of any product or service (including its legal status and regulatory requirements) and examine the websites of the appropriate regulators.

With the text above in mind, here is wrapped bitcoin's price history chart:

FAQ

Can I trade wBTC using the CEX.IO mobile app?

A fully functional tool that enables you to trade and manage your orders and funds anywhere in the CEX.IO mobile app. It includes a few special features for trading while you're on the go. Just open the Trade Pro or PRO tab (depending on your OS system the name can be different). Here you can check the price charts and place market and limit orders. 

How to link my debit/credit card to my CEX.IO account?

One of the few exchanges that allow credit card payments for cryptocurrency transactions is CEX.IO. Customers can pay with a debit or credit card from Visa or Mastercard. 

To verify your card, go to the Cards page or press the Add New Card option.

  • Enter your card number
  • Provide the expiry date
  • Click Proceed

As soon as it's checked, you'll receive a notification to your email address.

How to sell the wBTC on CEX.IO?

To sell your crypto instantly, download the CEX.I) mobile app and follow these steps: 

  • Go to the Buy/Sell menu and select Sell to sell your cryptocurrency.
  • Choose the fiat currency you want to receive and the cryptocurrency you want to sell.
  • Select an available pack or enter the desired selling price.
  • Decide where you wish to transfer the money you make.
  • Finally, verify everything and click Continue to verify the sale.

Where to check the wBTC price?

With CEX.IO, you can view real-time crypto prices and use advanced tools to be always informed about the current market situation and recent price changes. If you want to examine the candlesticks' price charts, you can find them on the Spot Trading page. Additionally, you can follow the current prices, market cap, and 24-hour price changes on the Cryptocurrency prices page.

Where can you buy Wrapped Bitcoin?

Wallet

Buy, Sell, Store, and Earn crypto. For everyone.

Spot Trading

Trade with deep liquidity, advanced charts, and stop orders.

Markets

More markets

University

Sign up for updates

Stay aware of timely CEX.IO updates and market developments.

Trading Pairs

WBTC
USDT

WBTC-USDT

0.11%

Trade
WBTC
EUR

WBTC-EUR

0.10%

Trade
WBTC
USDC

WBTC-USDC

0.08%

Trade
WBTC
BTC

WBTC-BTC

0.01%

Trade