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Overview

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2019Active since
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What is Wrapped Bitcoin?

Wrapped BTC (WBTC) is an invention of the DeFi movement. Pegged to the same value as Bitcoin itself, WBTC is a way of representing Bitcoin ownership on the Ethereum network (i.e. you lock Bitcoin in a smart contract and receive an equivalent amount of WBTC in return).

Having WBTC means you can use the Bitcoin you own on DeFi apps, for instance to purchase tokens on Uniswap or as liquidity pool collateral on a platform like Compound or Balancer.

By buying WBTC on an exchange like CoinJar, you’re bypassing the costly and complex “wrapping” process. While CoinJar can’t “unwrap” your WBTC for you, you’ll be able to convert it to regular BTC using the CoinJar app.

The Bitcoin underpinning this process is maintained by the WBTC DAO (decentralised autonomous organisation), a group of more than 30 companies and blockchains that includes some of the biggest players in the cryptocurrency space.

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Buy Wrapped Bitcoin instantly with credit/debit cardDon’t get caught waiting for bank deposits to clear. With CoinJar Instant Buy you can use your Visa or Mastercard to buy crypto in seconds – now with Apple Pay and Google Pay™.

How to buy Wrapped Bitcoin with CoinJar

Start your cryptocurrency portfolio with CoinJar by following these simple steps.
Step oneDownload the appGet the CoinJar app on iOS or Android.
Step twoCreate an accountSign up and verify your ID – it only takes a couple of minutes.
Step threeMake a purchaseBuy Bitcoin and almost 50 other cryptos using cash or credit card.
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CoinJar’s Digital Currency and Exchange Services are operated by CoinJar Australia Pty Ltd ACN 648 570 807, a registered digital currency exchange provider (AUSTRAC Registration No. DCE100749118-001).

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