Wrapped Bitcoin (CURRENCY:WBTC) traded up 2.7% against the dollar during the twenty-four hour period ending at 10:00 AM Eastern on September 15th. One Wrapped Bitcoin coin can currently be purchased for about $47,738.73 or 0.99874742 BTC on exchanges. In the last week, Wrapped Bitcoin has traded up 2.9% against the dollar. Wrapped Bitcoin has a market cap of $9.83 billion and approximately $250.60 million worth of Wrapped Bitcoin was traded on exchanges in the last day.
Here’s how related cryptocurrencies have performed in the last day:
- Cosmos (ATOM) traded down 1.4% against the dollar and now trades at $33.32 or 0.00069716 BTC.
- Creditcoin (CTC) traded 1.8% higher against the dollar and now trades at $4.02 or 0.00008413 BTC.
- Venus (XVS) traded up 4.1% against the dollar and now trades at $34.95 or 0.00073111 BTC.
- Function X (FX) traded 7.4% higher against the dollar and now trades at $0.73 or 0.00001534 BTC.
- Tranchess (CHESS) traded up 1.3% against the dollar and now trades at $3.22 or 0.00006738 BTC.
- Phantasma (SOUL) traded 4.4% lower against the dollar and now trades at $0.55 or 0.00001161 BTC.
- mStable USD (MUSD) traded down 0.8% against the dollar and now trades at $1.01 or 0.00002115 BTC.
- StableXSwap (STAX) traded 9.3% higher against the dollar and now trades at $3.01 or 0.00006298 BTC.
- Darwinia Network (RING) traded up 1.7% against the dollar and now trades at $0.0684 or 0.00000143 BTC.
- Redd (RDD) traded 1.7% higher against the dollar and now trades at $0.0011 or 0.00000008 BTC.
About Wrapped Bitcoin
According to CryptoCompare, “Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers. To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. “
Buying and Selling Wrapped Bitcoin
It is usually not presently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using U.S. dollars. Investors seeking to acquire Wrapped Bitcoin should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Wrapped Bitcoin using one of the exchanges listed above.
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