Wrapped Bitcoin (WBTC)

By: WEEX|2024/11/06 05:37:52
0
Share
copy

Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin on the Ethereum blockchain. Each WBTC token is backed 1:1 by actual Bitcoin (BTC), meaning that for every WBTC issued, an equivalent amount of BTC is held in reserve by a custodian. The concept behind WBTC is to bring the liquidity and value of Bitcoin into the Ethereum ecosystem, enabling BTC holders to interact with decentralized applications (dApps), DeFi protocols, and smart contracts on Ethereum without needing to sell their Bitcoin. WBTC allows Bitcoin holders to engage in DeFi activities such as yield farming, lending, and borrowing by using their BTC as collateral. The token is fully transparent, with on-chain proof of reserves showing that the issued WBTC is backed by the corresponding amount of BTC. This wrapping mechanism bridges the gap between the Bitcoin and Ethereum ecosystems, providing more flexibility for Bitcoin holders while leveraging Ethereum's broader ecosystem.

You may also like

CRAZYLIVE USDT Pair: Crazylive Coin Listed on WEEX Spot

Crazylive Coin is now listed on WEEX Exchange. Start trading the CRAZYLIVE USDT pair. Discover this AI-driven Web3 investment token on Solana.

DN USDT Spot Trading: DeepNode (DN) Coin Listed on WEEX

Trade DN USDT on WEEX Exchange today. DeepNode (DN) Coin, a decentralized AI infrastructure token endorsed by Binance Alpha, is new listed on WEEX for spot trading.

Introducing DeepNode: Complete Guide to $DN and Airdrop Opportunities

DeepNode (DN) is a decentralized AI infrastructure network that empowers developers, validators, miners, and enterprises to collaboratively build, deploy, and monetize real-world AI models with full ownership and verifiable rewards. Backed by $5M in funding, DeepNode introduces Proof-of-Work-Relevance (PoWR) consensus to reward actual utility over speculation. Learn its tokenomics, ecosystem impact, and how to claim free tokens in the WEEX $50,000 $DN airdrop until Jan.16 2026!

Introducing Silver: Your Essential Guide to Trading Silver on WEEX

Silver remains a timeless asset for diversification, industrial demand, and inflation hedging. On WEEX, explore two powerful ways to gain exposure: XAG-USDT for direct spot price tracking and SLVON-USDT—Ondo Finance's tokenized version of the iShares Silver Trust (SLV). Discover the differences, benefits, and simple steps to start trading silver seamlessly on a trusted platform.

ZenChain (ZTC) Coin Price Prediction & Forecasts for January 2026: Navigating the Post-Launch Dip After a 47% Drop

ZenChain (ZTC) Coin has made waves in the crypto space since its launch on January 7, 2026, as…

What is Dexter AI (DEXTER) Coin?

Dexter AI (DEXTER) coin, a part of Dexter’s advanced technology platform, recently debuted on WEEX, commencing trading on…

Popular coins