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How to buy Wrapped Bitcoin in 2022 ? – A Step by Step Guide

By Kaela R. 6 min read

The process of buying Wrapped Bitcoin is just like any other coin in the crypto market. It is not something that you can directly buy from your bank account or through organizations. This may be possible in future but for the time being, you'll have to use a cryptocurrency trading site to convert your USD into WBTC or other digital currencies. We are here to make this process for you as smooth as we can buy providing all the key details in this article. Let’s jump right into it.

Where to buy Wrapped Bitcoin

Below are the popular crypto exchanges based on user experience,security,fee structure and supported coin, that you can use to purchase Wrapped Bitcoin (WBTC) in 2022.

Before moving forward i want to make it clear that the ranking of these exchanges are in no particular order. With that in mind - Let’s explore these crypto platforms one by one so that you can select the best cryptocurrency exchange to buying your Wrapped Bitcoin.

1. Binance

Binance is well-known for its cryptocurrency-to-cryptocurrency trading services. Binance came onto the scene during the 2017 crypto craze and has since risen to become the world's leading cryptocurrency exchange. 

By trading volume, Binance is the world's largest online cryptocurrency exchange. The exchange is also one of the most rapidly growing venues in the cryptocurrency market today. You can easily buy and sell Wrapped Bitcoin (WBTC) using our step by step guide.

The exchange offers investors one of the most diverse selections of cryptos accessible on the market today. The currencies and tokens on sale range from the markets largest by market cap to some smaller and less well-known coins and tokens.

Getting Started with Binance

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward, and you do not need to verify your account for level 1, which has a daily withdrawal limit of 2BTC.

For level 2, which enables up to 100BTC every day, you must upload a picture ID and wait for approval. There are still greater restrictions, but you must contact them personally to arrange for them.

Follow the steps below to open a Binance account:

Step 1: Visit the Binance Website

Step 2: Click on the “Register” option in the upper right-hand corner and complete the relevant information. Binance will validate your account details throughout the registration process, which may take a few minutes.

Step 3: Enable 2-Factor Authentication.

Step 4: Select and Link you payment Methods.

Step 5: Deposit and Start trading.

How to buy Wrapped Bitcoin on Binance

Binance has a rich collection of tools and dashboards that might be overwhelming. Its Buy Crypto page makes it easy to cut through the confusion and conduct straightforward transactions. It has a simple interface where you can buy, sell, or convert cryptocurrency.

1. Login to your Binance account and on the homepage click on the “Buy Crypto “Button.

2. You can purchase Wrapped Bitcoin (WBTC) using a variety of fiat currencies. Enter the amount of fiat money you wish to spend, and the system will calculate the amount of Wrapped Bitcoin you can acquire.

3. Select the payment method and fill the required information than Continue.

4. Please double-check the payment information and costs, and complete your purchase within 1 minute, otherwise the amount of Wrapped Bitcoin you may get will be adjusted depending on the current market price. 

5. You'll be taken to your bank's OTP Transaction Page. To validate the payment, follow the on-screen instructions. Following that, you will be able to see the acquired WBTC in your Binance Spot Wallet immediately.


2. OKX

OKX is clearly one of the more prolific exchanges on the market. However, the platform's past conduct, particularly how it handled its own users, has been recognized, and it would be smart to anticipate better behavior in the future.

Aside from that, OKX provides a one-stop shop for cryptocurrency trading and investment. OKX costs are in accordance with industry norms, and the exchange claims that it has never been hacked, despite reports to the contrary circulating on multiple occasions.

At the end of the day, OKX is a top 30 exchange with plenty of liquidity - clearly, the exchange is doing something well since it is there.

OKX Pros

  • Allows the use of a wide range of fiat currencies to establish an account.
  • Offers diverse range of services.
  • Hundreds of trading pairs with high staking APYs.
  • An easy-to-use buy/sell dashboard.
  • Online chat tech support that replies promptly.

OKX Cons

  • Very Complex fee structure.
  • US Citizens are not allowed.
  • There are no Demo accounts available.

 

Getting Started with OKX

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward. You can open an account with OKX by following the easy steps outlined below.

Step 1: Go to OKX official website and click the Sign up button.

Step 2: Enter your personal information and email with a secure password.

Step 3: Click the create account button after checking the box at the bottom of the form.

Step 4: Verify your supplied email address by clicking on the verification link that was delivered to your inbox.

Step 5: Enter the code that was delivered to your mobile device and click the Verify button. If you haven't received a code, select the Resend code option.

Step 6: When you first use the OKEx platform as a newly registered user, you will be able to select whether you are new or experienced in bitcoin trading.


3. FTX

FTX is a cryptocurrency futures exchange that has swiftly established itself in a rapidly growing section of the cryptocurrency trading industry.

The exchange has received a lot of favorable feedback from the crypto trading community and already has strong daily trading volumes. This is pretty significant given the platform's relative young and the fact that FTX is not available to anybody located in the United States.

The exchange debuted in May 2019 and offers its users a variety of unique trading products such as Bitcoin options, over 45 leveraged tokens, 20 continuous swaps, MOVE contracts, and futures markets.

FTX Features

Users will find a lot to like about FTX, and we've highlighted the top features and benefits of utilizing this platform below.

  1. Mobile software for iOS and Android that allows you to quickly and simply exchange one coin or money for another.
  2. More than 130 different cryptocurrencies are supported.
  3. Low trading costs are offered, as are discounts.
  4. Staking is now available, allowing you to earn interest on your bitcoin.
  5. For rewards, hold and stake FTX's token (FTT).
  6. NFT exchange - buy and sell NFTs.
  7. 1% of all net fees are donated to charity.
  8. FTX Pay allows you to get paid in either cash or cryptocurrency.
  9. Futures, stocks, leveraged tokens, volatility, and currency are examples of advanced markets.
  10. Exchange is extremely secure - suspicious behavior is detected

How to buy Wrapped Bitcoin on FTX

Buying Wrapped Bitcoin on FTX Exchange is pretty easy and you can follow the below guide to purchase your first WBTC

1. Log in to your FTX account.

2. On the upper right-hand side, click Wallet.

3. Select the asset you want to Deposit by clicking the Deposit button.

4. Enter the amount you want to buy in crypto or your local money.

5. Choose a payment method. To confirm your purchase, click Deposit USD (you can always click the back arrow to make a change).

6. If all of the information is accurate, click Buy to complete your transaction.


4. Coinbase Exchange

Coinbase was established in 2012 as a platform for sending and receiving Bitcoin. The firm has expanded to accommodate dozens of distinct cryptocurrencies and now employs over 2,700 people globally. Coinbase is a decentralised organization with no central offices. You can easily buy and sell Wrapped Bitcoin (WBTC) on Coinbase Exchange using our step by step guide.

The exchange has users in over 100 countries, and clients exchange over $327 billion every quarter. Coinbase oversees a thriving bitcoin ecosystem that serves 9,000 financial institutions.

It has two distinct trading platforms, as well as a separate bitcoin wallet service. You're likely to find all you need to create and manage a bitcoin portfolio or trading plan among the Coinbase offerings.

Coinbase Exchange Features

  1. More than 50 cryptocurrencies are supported.
  2. Spread and Coinbase costs are included in trading fees.
  3. You can use a free wallet service with private key access, or you can retain your cryptocurrency in your Coinbase account for a $2 minimum purchase or sale.
  4. Insured policy against fraud losses and storage of the bulk of digital assets offline.
  5. Accounts can be accessed using a web browser or a mobile app.
  6. Crypto incentives for studying and an education Centre.
  7. Option to upgrade to Coinbase Pro.

Getting Started with Coinbase Exchange

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward. You can open an account with Coinbase by following the easy steps outlined below.

Step 1: Go to Coinbase official website and click the Get Started button in the top right corner of the webpage.

Step 2: Enter your personal information and email with a secure password.

Step 3: Click the create account button after checking the box at the bottom of the form.

Step 4: Verify your supplied email address by clicking on the verification link that was delivered to your inbox.

Step 5: You must provide your cellphone number with the country code to complete the two-step verification process.

Step 6: Enter the code that was delivered to your mobile device and click the Verify button. If you haven't received a code, select the Resend code option.

How to buy Wrapped Bitcoin on Coinbase Exchange

Follow our step by step guide below to start buying Wrapped Bitcoin (WBTC) on Coinbase Exchange:

1. Log in to your Coinbase account.

2. On the upper right-hand side, click Buy / Sell.

3. Select Wrapped Bitcoin from the list of cryptocurrencies and click the Buy button.

4. Enter the amount you want to buy in WBTC or your local money.

5. Choose a payment method (Credit card, Bank Transfer or Crypto).

6. To confirm your purchase, click Preview Buy (you can always click the back arrow to make a change).

7. If all of the information is accurate, click Buy to complete your transaction.


Other Exchanges to buy Wrapped Bitcoin

Aside from using above popular platforms, there are variety of smaller cryptocurrency exchanges where you can buy WBTC.

1. BKEX Join Now
2. Tokpie Join Now
3. Bitrue Join Now
4. Digifinex Join Now
5. SpookySwap Join Now
6. AEX Join Now
7. HitBTC Join Now
8. Trisolaris Join Now
9. Bancor Network Join Now
10. Trader Joe Join Now
11. VVS Finance Join Now
12. Balancer (v2) Join Now
13. Dodo (Polygon) Join Now
14. Defi Kingdoms Join Now
15. Hotbit Join Now

Buy Wrapped Bitcoin on Decentralized Exchanges.

Below, you will find comprehensive and detailed review about top rated decentralized exchanges using which you can buy Wrapped Bitcoin (WBTC) easily.

1. Uniswap (v3)

Uniswap is a decentralised exchange (DEX) that allows users to finance liquidity pools and benefit from them.

The platform's user-friendly online interface allows users to exchange Ethereum-powered ERC-20 tokens. Previously, decentralised exchanges had small order books and poor UXs, leaving a huge opportunity for successful decentralised exchange.

Users no longer have to accept defects because they can easily exchange Ethereum-based protocols using a web 3.0 wallet thanks to Uniswap. You can do so without having to deposit or withdraw funds from a centrally controlled order book. Uniswap allows users to trade without the intervention of a third party.

How to buy Wrapped Bitcoin on Uniswap (v3)

In this section, we'll go through below steps on how to make your first Wrapped Bitcoin purchase on Uniswap.

Uniswap allows you to buy Wrapped Bitcoin (WBTC) and any of the thousands of ERC20 tokens offered by the Ethereum network. To do so, you'll need sufficient ETH on hand to cover any transaction costs, as well as anything to exchange for the ERC20 token you desire mostly Ethereum or USDT (ERC-20).

 

Step 1: Navigate to the Uniswap exchange platform. Click the 'Connect to a wallet' option in the upper right corner and log in with the Metamask or Trust wallet.

Step 2: After logging in, the trading dashboard will be shown. Select the token you want to trade for, and the token you want in the top section (in our case Wrapped Bitcoin), You can also search Wrapped Bitcoin (WBTC) in Coinmarketcap and copy/paste the WBTC contract in uniswap.

Step 3: You are now ready to place your order. You can put a number in the top area to specify how much you want to spend, or a number in the bottom field to specify how much you want to purchase.

Step 4: At the bottom of the order menu, you'll see how much you'll be charged. If you're satisfied with these numbers, click the 'Swap' option. When you're finished, confirm the transaction, and it'll be processed. Once completed, your tokens will be available in your ERC20 wallet.


2. Sushiswap

SushiSwap is an exchange that is moving in line with the larger uniswap ecosystem. It uses a system called an automated market maker to settle orders just like uniswap or pancakeswap.

While traditional exchanges have order books with buyers and sellers, SushiSwap uses an algorithm to create a "liquidity pool" of tokens. This way, users are able to trade in a range of prices. Tokens are listed in the "liquidity pool" based on price history.

There are a number of people behind the project, including 0xMaki, who is an anonymous core contributor, and Joseph Delong, the Chief Technology Officer. These members will also remain anonymous, as it is the policy of the company not to disclose who they are or their positions with the project. Although SushiSwap has no current investors, there are discussions about acquiring funds in the future.

The first step is to connect your wallet to the SushiSwap pool. This is very easy, as the platform supports MetaMask and WalletConnect. Once connected, you'll need to select a token and swap it with desired token.


3. Quickswap

The QuickSwap network is a fork of UniSwap DEX. It is a DEX on Polygon blockchain, and uses the Ethereum blockchain.

On QuickSwap network, users can trade tokens on the Ethereum and Polygon networks. You can use the same QUICK account on both networks. It is important to understand that each network is different.

Before using QuickSwap, you should have a crypto wallet. Connect Quickswap you with your wallet. Most wallets are free, but the best ones come with multiple security features, you need to choose a hardware wallet to ensure the highest levels of security.


4. Pangolin

The Pangolin project is a decentralized exchange that uses Avalanche Blockchain as a backend. This platform's automated market-making model allows users to make trades at a fraction of the price of the underlying currencies.

The native token of Pangolin (PNG) allows users to vote on development decisions and the creation of new liquidity pools. It will be distributed in a transparent fashion, and the community will be able to make decisions about what to do with it.

With transaction fees as low as a few cents, users can easily invest in the crypto market. In addition to the PNG, other top tokens on the platform include Wrapped AVAX (WAVAX), BENQI (QI), and Roco Finance (ROCO).



Conclusion

Choosing the best cryptocurrency platform for Wrapped Bitcoin (WBTC) might be a difficult task, there are various factors that one should consider before selecting a crypto exchange. These include the fees structure, security, exchange features, and whether it is based on fiat or crypto.
Remember, once you have shortlisted some exchanges, do your research on each of them to identify the most appropriate for you.




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