WBTC: New listing on BCM

Today we are adding Wrapped Bitcoin (WBTC) to our range of cryptocurrencies! Read more about the possibilities of WBTC in this article.

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What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin, abbreviated as WBTC, is an amalgamation of two of the world's most popular cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). It is essentially a token on the Ethereum blockchain that is tied to the value of Bitcoin. This means that the same amount of Bitcoin is held in custody for each WBTC token in circulation, which explains the name "Wrapped."

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This project offers significant benefits to both Bitcoin and Ethereum holders. WBTC allows Bitcoin to be leveraged on the Ethereum blockchain, making it deployable in decentralized financial (DeFi) applications and smart contracts. Here are some of the reasons why WBTC is so interesting:

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1. Bitcoin liquidity in DeFi

WBTC brings Bitcoin to the world of decentralized finance. Holders can convert their Bitcoin into WBTC, taking advantage of the opportunities offered by the DeFi space, such as borrowing, staking and yield farming.

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2. Cross-chain functionality

WBTC acts as a bridge between the Bitcoin and Ethereum blockchains, allowing seamless interaction between the two networks.

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3. Improved speed and functionality

Transactions on the Ethereum blockchain are often faster and cheaper than those on the Bitcoin blockchain, making WBTC a convenient way to move and use Bitcoin.

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Want to know more about WBTC? On our website you can trade WBTC and find more information.

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