CryptoAltum Lists Wrapped Bitcoin on MT5
What is Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) is tokenized Bitcoin on Ethereum. The project was launched in 2019 and was created jointly by Bitgo, Kyber, and Ren. Users who need to convert BTC to ERC-20 wBTC must submit personal information before a custodian mints the token. There are several advantages of tokenizing Bitcoin and releasing it on the Ethereum network. For example, users access DeFi and participate in lucrative yield maximizing opportunities. In Ethereum, WBTC can be transferred like any other token and stored in leading wallets like MetaMask.
Why Trade WBTC With CryptoAltum?
Tokenizing Bitcoin provides more benefits for the users. Besides allowing BTC to exist on non-native blockchains like Ethereum, the user stands to make more from their coins than letting them sit idly on an exchange or a non-custodial wallet. WBTC is a fixture in DeFi and is supported by many portals such as lending and borrowing platforms, decentralized exchanges, and more. This utility is why traders should trade WBTC on CryptoAltum. The exchange uses the MT5 platform. WBTC joins other high-profile liquid coins like BTC and ETH.
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