Wrapped Bitcoin (WBTC) is an ERC-20 token backed 1:1 by Bitcoin and held at Bitgo Trust, and the underlying holdings are verifiable here. WBTC brings the liquidity of Bitcoin to the Ethereum ecosystem.
Users can wrap and unwrap BTC seamlessly via their CoinList wallet.
To unwrap WBTC into BTC, you first need to have WBTC in your CoinList wallet. Once your wallet is funded with WBTC:
WBTC will be debited from your WBTC wallet and you will receive BTC in your BTC wallet.
Please note that you will have two different wallets. You will not receive BTC in your WBTC wallet.
Yes, you can find the most up to date minimum and maximum trade limits here https://coinlist.co/legal
When you're logged in, click on Trade in the left navigation.
Once you see the trading screen. You will then be prompted to enter an amount of a specific cryptocurrency you wish to buy or sell. Once you have set the amount, you can preview the order.
After selecting “preview order”, you will be presented with the price for your order. You will have 30 seconds to confirm the trade. If you do not confirm the trade within 30 seconds, you will be required to re-input your order. The price may change after the 30 second window. Once you confirm the order, the trade will be considered final and it will be executed, you will see the resulting balances in your applicable CoinList Wallets.
Yes, but these are not uniform across all assets, please see https://coinlist.co/legal for the most up to date information.
A CoinList affiliate manages its own pool of BTC and WBTC, so the process is usually immediate. When demand is high, it is possible that the pool temporarily runs out of BTC or WBTC. If that is the case, the wrapping or unwrapping service will pause until the pool is replenished.
You may choose to hold your funds to be automatically converted when the pool is replenished. This situation is usually addressed within (6) to twenty-four (24) hours.
To obtain WBTC, you first need to have BTC in your CoinList wallet. You can either directly deposit BTC in your wallet or you can buy BTC through CoinList. Once your wallet is funded with BTC:
BTC will be debited from your BTC wallet and you will receive WBTC in your WBTC wallet.
Please note that you will have two different wallets. You will not receive WBTC into your BTC wallet.
You can view currently supported assets on https://coinlist.co/legal
Depending on when you signed up for CoinList, you may need to complete additional compliance in order to use wallets and trading. You can complete your registration at https://coinlist.co/wallets/new. New users should automatically have access to wallets and trading, subject to additional jurisdiction restrictions.