Buy Wrapped Bitcoin: A Comprehensive Guide on How to Buy wBTC – Best Exchanges & Brokers

Wrapped Bitcoin (wBTC) has gained significant popularity as a bridge between Bitcoin and Ethereum. Its unique ability to be used on Ethereum’s decentralized applications attracts many investors. We’ll guide you through easy, fast, and secure methods to buy and store Wrapped Bitcoin. To keep it simple, we recommend Coinbase as the best platform to buy wBTC. Why Coinbase?

The following table explains why Coinbase is the best choice for buying Wrapped Bitcoin.

Buy Wrapped Bitcoin on Coinbase

Coinbase is a regulated crypto custodian with global licenses, meeting strict security standards and oversight by financial authorities. Notably, even BlackRock, the world’s largest asset manager, trusts Coinbase for Bitcoin custody in its Bitcoin ETFs, showcasing the high level of security Coinbase provides.

While you have the option to use external wallets, Coinbase offers a secure environment for storing your Wrapped Bitcoin. Unlike platforms with withdrawal delays, Coinbase processes them instantly, providing you with quick access to your funds.

In terms of cost-effectiveness, Coinbase’s fees are competitive at 0.15%, significantly lower than the industry average. For comparison, Bison, an affiliate of the German stock exchange, charges a steep 1.5% for Bitcoin transactions.

Coinbase prioritizes user security with features like two-factor authentication, ensuring extra protection for your account. They also offer responsive customer support, typically addressing queries within 24 hours. (We can personally vouch for their support team’s reliability.)

Designed with user-friendliness in mind, Coinbase’s interface suits both beginners and seasoned traders. With dedicated apps for Android and iOS, you can manage your Wrapped Bitcoin portfolio and execute trades conveniently, no matter where you are.

Coinbase remains one of the most popular and user-friendly platforms for buying Wrapped Bitcoin (wBTC). Here’s a simple guide on how to buy wBTC easily, securely, and quickly on Coinbase.

Step 1: Sign Up for Coinbase

To begin purchasing Wrapped Bitcoin, you must create an account on Coinbase. Go to Coinbase.com and click “Get Started.” You’ll be prompted to provide your name, email, and password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

To comply with regulatory requirements, Coinbase requires identity verification. You’ll need to upload a government-issued ID and provide personal details like your address and date of birth. This step may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Wrapped Bitcoin, link a payment method to your account. Coinbase supports several options, including:

• Bank Account: Link your bank account for lower fees and higher transaction limits.
• Credit or Debit Card: Great for faster purchases, though fees may be higher than bank transfers.
• PayPal: Available for deposits and withdrawals in select countries.

Step 4: Buy Wrapped Bitcoin

Once your account is set up and your payment method is linked, you’re ready to buy Wrapped Bitcoin!

1. On the Coinbase dashboard, navigate to the “Buy/Sell” section.
2. Select Wrapped Bitcoin (wBTC) from the list of available cryptocurrencies.
3. Enter the amount of wBTC you wish to buy, either in local currency (e.g., USD, EUR) or wBTC.
4. Choose your payment method (e.g., bank account, credit card).
5. Review the transaction details, including any fees, and click “Buy Now” to complete the purchase.

Step 5: Store Your Wrapped Bitcoin Securely

After purchasing wBTC, it will be stored in your Coinbase wallet. For added security, it’s advised to transfer your wBTC to a personal wallet (like a hardware wallet from Ledger or Trezor) instead of leaving it on Coinbase, which is an online exchange.

Benefits of Buying Wrapped Bitcoin on Coinbase:

• User-Friendly Interface: Coinbase is known for its intuitive design, perfect for beginners.
• Top-notch Security: Coinbase uses two-factor authentication (2FA) and insures funds held in the Coinbase Vault for added protection.
• Multiple Payment Options: Coinbase supports several payment methods, including bank transfers, credit cards, and PayPal.

Buy Wrapped Bitcoin on Binance

Binance is one of the world’s largest and most popular cryptocurrency exchanges, renowned for its robust security features and user-friendly platform. Until recently, it was not possible to directly purchase Wrapped Bitcoin (wBTC) using Euro (EUR) or US Dollars (USD) on Binance. However, this has now changed, and you can easily buy Wrapped Bitcoin with a credit card or trade it with other cryptocurrencies. In this guide, we’ll walk you through both options for acquiring wBTC!

Step 1: Register on Binance

Binance offers the option to verify your identity. Although it’s not mandatory, completing the verification process increases your daily withdrawal limit to 100 wBTC. Without verification, the daily limit is 2 wBTC, but you can still access all other platform features.

Step 2: Buy Wrapped Bitcoin with a Credit Card

To buy Wrapped Bitcoin using a credit card on Binance, follow these steps:

1. Navigate to the Credit Card Section: In the top menu, click on “Buy Crypto” and then select “Buy with Credit Card.”
2. Select Your Payment Currency: Choose Wrapped Bitcoin (wBTC) as your cryptocurrency and select your payment currency (Euro or USD).
3. Enter Your Personal Information: Fill in the necessary details in the provided fields.
4. Verify Email and Phone Number: You will need to verify your email and phone number with a code.
5. Proceed to Payment: After verification, click “Next” to enter your credit card information.
6. Upload ID for Verification: To finalize the purchase, upload the front and back of your passport for identity verification.

Important Notes Before and After Your Purchase

• wBTC Price Fluctuation: The price of Wrapped Bitcoin can fluctuate, and if it changes by more than ±2.5%, you will be asked to reconfirm the transaction via email from Simplex, Binance’s third-party payment provider.
• Transaction Fees: Simplex charges a fee of 3.5% per transaction or USD 10, whichever is higher.
• Transaction Limits: The daily purchase limit is USD 20,000 per user, and the monthly limit is USD 50,000. The minimum transaction amount is USD 50.
• Track Payment Status: After completing your purchase, you can monitor your payment status and deposit history through Simplex.

Step 3: How to Trade Wrapped Bitcoin on Binance

If you already hold other cryptocurrencies like Ethereum (ETH), Binance Coin (BNB), or Tether (USDT), you can deposit them into your Binance account and trade them for Wrapped Bitcoin (wBTC). Here’s how to exchange Ethereum (ETH) for wBTC:

1. Deposit Ethereum (ETH): If you have Ethereum (ETH) on another exchange or wallet, send it to your Binance Ethereum wallet address. If you don’t yet own Ethereum, you can purchase it from another platform like Litebit and use your Binance Ethereum wallet address for immediate transfer after purchase.
2. Access the Deposit Section: Once logged in, click on “Funds” in the navigation bar, then select “Deposit.”
3. Find Your Ethereum Wallet Address: In the search box, type “ETH” and select “Ethereum” to get your unique Ethereum wallet address for deposits.
4. Exchange Ethereum for Wrapped Bitcoin: After your Ethereum has been deposited into your Binance account, trade it for Wrapped Bitcoin by visiting the “Markets” tab, selecting the “ETH/wBTC” pair, and placing an order.

Additional Trading Tips

• Leverage Trading: Binance also offers margin trading with leverage for advanced users, allowing you to amplify potential profits (with higher risk). Be sure to fully understand leverage before using this feature.
• Security: Always activate two-factor authentication (2FA) to secure your account. Binance also employs cold storage for crypto funds and offers insurance coverage in case of major losses.

Buy Wrapped Bitcoin on Kraken

Kraken is a regulated crypto custodian with licenses across various jurisdictions globally, ensuring it adheres to stringent security standards and is overseen by financial authorities. This makes Kraken a highly secure platform for storing and trading cryptocurrencies. It is trusted by institutional investors for cryptocurrency custody, including some of the world’s largest financial entities, showcasing its reputation for providing a high level of security.

Kraken offers the flexibility to use external wallets while also providing a highly secure environment for storing your Wrapped Bitcoin (wBTC). Unlike some platforms, Kraken processes withdrawals quickly, ensuring you have prompt access to your funds.

Kraken’s fees are highly competitive, with trading fees structured in a tiered system. The lowest fees are 0.16% for makers and 0.26% for takers, significantly lower than many competitors in the market.

Security is a top priority at Kraken, featuring two-factor authentication (2FA) and advanced encryption to protect your account. Kraken also offers responsive customer support, typically replying quickly when you need assistance.

Designed to cater to both beginners and experienced traders, Kraken’s intuitive interface is complemented by mobile apps for both Android and iOS devices, giving you the ability to manage your Wrapped Bitcoin portfolio and trade conveniently on the go.

Kraken is one of the most trusted and secure platforms for buying Wrapped Bitcoin (wBTC). Here’s how you can buy wBTC securely and efficiently on Kraken.

Step 1: Sign Up for Kraken

To get started with buying Wrapped Bitcoin, create an account on Kraken’s platform. Visit Kraken.com and click on “Create Account.” You will be asked to enter your name, email, and create a secure password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

Kraken requires you to verify your identity to comply with financial regulations. Upload a government-issued ID and provide personal details such as your address and date of birth. This verification is necessary for your security and may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Wrapped Bitcoin, you must link a payment method. Kraken supports several payment options, including:

• Bank Account: For lower fees and higher transaction limits.
• Credit or Debit Card: Ideal for faster purchases, though fees tend to be slightly higher than bank transfers.
• Wire Transfers: For larger purchases, Kraken also supports wire transfers in several countries.

Step 4: Buy Wrapped Bitcoin

Once your account is set up and your payment method is linked, you’re ready to buy Wrapped Bitcoin!

• On the Kraken dashboard, go to the “Buy Crypto” section.
• Select Wrapped Bitcoin (wBTC) from the list of cryptocurrencies.
• Enter the amount of Wrapped Bitcoin you’d like to purchase, either in your local currency (e.g., USD, EUR) or in wBTC.
• Choose your payment method (e.g., bank account, debit card).
• Review the transaction details, including any fees, and click “Buy Now” to finalize your purchase.

Step 5: Store Your Wrapped Bitcoin Securely

After purchasing Wrapped Bitcoin, it will be stored in your Kraken wallet. For enhanced security, it’s recommended to transfer your Wrapped Bitcoin to a personal wallet, such as a hardware wallet (e.g., Ledger or Trezor), instead of keeping it on Kraken, an online exchange.

Benefits of Buying Wrapped Bitcoin on Kraken:

• User-Friendly Interface: Kraken is known for its clear and easy-to-navigate design, making it simple for beginners to use.
• High Security: Kraken employs top-tier security measures such as two-factor authentication (2FA) and provides insurance for funds held in its vault.
• Competitive Fees: Kraken offers low, competitive fees, making it an attractive option for both small and large transactions.
• Multiple Payment Options: Kraken supports various payment methods, including bank transfers, credit cards, and wire transfers, to cater to different user needs.

Buy Wrapped Bitcoin on Kriptomat

About Kriptomat

In contrast to established brokers like eToro, Kriptomat is a relatively young crypto exchange, but it is no less trustworthy. On Kriptomat, you can buy over 30 cryptocurrencies directly using Euro, USD, and other currencies, and you can send them directly to an external wallet. It’s important to note that Kriptomat’s services are currently restricted to Europe, so users from regions like the USA cannot use the platform.

Kriptomat focuses on providing an easy-to-use, modern interface, making it a great option for beginners. The platform is fully regulated with two licenses from the Estonian government, ensuring that it adheres to strict standards for security and transparency.

One of Kriptomat’s most appealing features is its fee structure. Unlike other exchanges, Kriptomat does not charge a price premium on cryptocurrencies. The price you pay for Wrapped Bitcoin (wBTC) matches the spot price. Kriptomat only charges a nominal fee for each transaction, with the transaction fees clearly displayed before confirming your purchase.

Set up a Wrapped Bitcoin account on Kriptomat

First, be aware that Kriptomat adheres closely to the legal requirements of the European Union, meaning that full identity verification is required. To start, you’ll need to create an account on Kriptomat. Go to the official website kriptomat.io and click the orange “Register” button. This will prompt a pop-up where you need to enter your first and last name, email address, and a secure password for your exchange account.

After completing the registration, Kriptomat will send you an email with a confirmation link. By clicking on this link, you verify your account. Once verified, you can log in using the credentials you’ve created. However, this is just the start of the registration process.

Before you can buy Wrapped Bitcoin and use other features of the platform, you’ll need to enter and verify your phone number. Kriptomat will send you a verification code via SMS that you must input on the website. But the registration isn’t complete yet. Due to strict EU guidelines, you also need to complete full identity verification. Simply click the prompt to begin the verification process (see screenshot).

A new pop-up will appear where you’ll need to enter your address (street, house number, city, country) and upload a photo or scan of your government-issued ID. Kriptomat makes this process simple and quick. You can continue the registration process easily from your smartphone. Just click the link sent to your phone, and Kriptomat will guide you through the process.

You can then take a photo of your ID (both front and back) using your smartphone and upload it directly. The final step requires you to take a selfie to complete the verification. Kriptomat allows you to use your smartphone’s camera to take and upload your selfie.

If you wish to buy Wrapped Bitcoin via SEPA bank transfer, you’ll need to add your bank account to your Kriptomat account in the final step. Once this is done, you can deposit funds via SEPA and use your balance to buy Wrapped Bitcoin and other cryptocurrencies. However, if you are using Neteller, Skrill, or a credit card, this step is unnecessary. Once you complete the registration, you’ll be able to purchase Wrapped Bitcoin with the limits associated with your verification level.

Buy Wrapped Bitcoin on Kriptomat

Buying Wrapped Bitcoin on Kriptomat is a simple and intuitive process. First, navigate to the “Buy/Sell” tab (Step 1) and select the “Buy” tab (Step 2). Then, in the section that appears, select Wrapped Bitcoin (wBTC) to buy.

Next, choose one of four payment methods (Step 3). If you’re making a deposit via SEPA (EUR), you’ll need to add your bank account to your Kriptomat account. Other payment options, like credit card, Neteller, or Skrill, allow you to purchase Wrapped Bitcoin immediately without requiring further data.

In the next step (see screenshot), enter the amount of Wrapped Bitcoin (wBTC) you wish to purchase. After entering the amount, click on “Buy Wrapped Bitcoin.” You’ll then be shown the transaction fees for your order. To confirm your purchase, click “Confirm transaction.”

Kriptomat will then confirm your purchase and redirect you to your “My Wallet” section. Your Wrapped Bitcoin will be visible here within a few seconds. The following video tutorial provides a clear summary of the entire purchase process.

Buy Wrapped Bitcoin at Anycoin

Anycoin is a popular cryptocurrency exchange platform that offers a simple and secure way to buy and sell Wrapped Bitcoin (wBTC) and other cryptocurrencies. It caters to both beginners and more experienced traders, providing an intuitive interface and a variety of features designed to make crypto trading easier and more secure.

Key Features of Anycoin:

1. User-Friendly Interface: Anycoin offers a straightforward and clean platform, making it easy for new users to start trading and for more experienced traders to access advanced features.
2. Wide Selection of Cryptocurrencies: Anycoin supports a range of cryptocurrencies, including Wrapped Bitcoin (wBTC), Ethereum (ETH), Litecoin (LTC), and more, allowing you to diversify your portfolio easily.
3. High Security Standards: Security is a priority for Anycoin, with features like two-factor authentication (2FA) and SSL encryption to protect user accounts and transactions. This ensures your crypto holdings are safe from external threats.
4. Low Fees: Anycoin aims to provide competitive fees for trading and transactions, making it an attractive option for those looking to minimize costs while trading digital assets.
5. Multiple Payment Methods: Users can purchase cryptocurrencies using various payment methods, including bank transfers, credit cards, and sometimes even PayPal, depending on their location.
6. Fast Transactions: Anycoin processes transactions quickly, allowing users to purchase cryptocurrencies without long delays. This quick access to funds is a major benefit for those who need to act fast in the market.
7. Support for Wallets: While Anycoin provides its own wallet to store your crypto assets, it’s also recommended to use your own personal wallet for added security. This can include hardware wallets or other types of secure storage.
8. Dedicated Customer Support: Anycoin offers customer support, providing assistance with any issues or inquiries that might arise during your experience on the platform.
9. Mobile Apps: Anycoin has apps available for both Android and iOS devices, making it easy to manage your portfolio and execute trades on the go.

How to Buy Wrapped Bitcoin on Anycoin:

1. Create an Account: Start by visiting the Anycoin website and clicking on “Sign Up.” Enter your name, email address, and create a password. Afterward, you’ll receive a verification email to confirm your account.
2. Verify Your Identity: Anycoin will ask you to complete a verification process to comply with regulatory requirements. This may involve submitting a government-issued ID and some personal information.
3. Link a Payment Method: To buy Wrapped Bitcoin, link a payment method to your account. Anycoin supports various payment options like bank transfers, credit cards, and PayPal.
4. Make Your Purchase: Once your account is verified and your payment method is linked, go to the “Buy” section, select Wrapped Bitcoin, and enter the amount you wish to purchase. Review the transaction details and fees, then complete your purchase.
5. Store Your Wrapped Bitcoin Securely: After buying Wrapped Bitcoin, it will be stored in your Anycoin wallet. However, for extra security, it’s recommended to transfer your crypto to a personal wallet (e.g., a hardware wallet) for safe storage.

Benefits of Using Anycoin:

• Simple and Easy to Use: With its user-friendly interface, Anycoin makes cryptocurrency trading accessible to everyone, including beginners.
• Secure Platform: Advanced security measures, including 2FA and SSL encryption, help ensure your funds are safe.
• Variety of Cryptocurrencies: You can easily buy Wrapped Bitcoin (wBTC) and other major cryptocurrencies on Anycoin.
• Competitive Fees: Anycoin offers low transaction fees, making it a cost-effective platform for crypto trading.
• Quick Transactions: The platform processes transactions quickly, providing fast access to your purchased assets.

Buy Wrapped Bitcoin at ByBit

Bybit is a popular cryptocurrency exchange platform that specializes in trading digital assets such as Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Known for its advanced features and high liquidity, Bybit is primarily used by more experienced traders, especially those interested in leveraged trading and derivatives.

Key Features of Bybit:

1. Advanced Trading Tools: Bybit offers a range of professional trading tools including spot trading, margin trading, and derivatives trading (futures contracts). The platform also provides advanced charting features and technical analysis tools to help users make informed decisions.
2. High Liquidity: Bybit is known for its high liquidity, which is particularly beneficial for traders who need to execute large trades without significant slippage. This makes it a reliable platform for both day traders and those looking for long-term positions.
3. Leverage Trading: One of Bybit’s standout features is its leverage trading options. Users can trade with leverage, enabling them to amplify their positions and increase potential profits. However, this also comes with higher risks, and it’s important to use leverage cautiously.
4. User-Friendly Interface: Despite offering advanced trading options, Bybit maintains an intuitive and user-friendly interface, making it accessible for both beginner and experienced traders. The platform’s clean design helps users navigate the various trading tools easily.
5. Security Features: Bybit places a strong emphasis on security with features such as two-factor authentication (2FA), cold storage for crypto assets, and an insurance fund to cover any potential losses during extreme market conditions. These measures help ensure the safety of user funds.
6. Mobile App: Bybit offers mobile apps for both Android and iOS, allowing users to trade and manage their crypto assets on the go. The mobile apps have many of the same features as the desktop platform, providing flexibility for traders who need to stay connected to the markets at all times.
7. Fast Transactions: Bybit offers quick and seamless transactions, with order execution speeds often cited as one of the fastest in the industry. This ensures that trades are executed without delay, which is crucial in volatile markets.
8. Referral Program: Bybit has a referral program that allows users to earn rewards by inviting others to join the platform. This is a great way for traders to earn additional income while growing the community.
9. Customer Support: Bybit provides 24/7 customer support to help users with any issues or questions. The platform offers support through live chat, email, and other communication channels, ensuring that help is readily available.

How to Buy Wrapped Bitcoin on Bybit:

1. Create an Account: Start by visiting the Bybit website and clicking “Sign Up.” You’ll need to provide your email address and create a secure password. After registering, you will receive a verification email to activate your account.
2. Verify Your Identity: To comply with regulatory standards, Bybit may ask you to complete a KYC (Know Your Customer) verification process. This can involve uploading a government-issued ID and some personal information to verify your identity.
3. Deposit Funds: Once your account is set up, you need to fund your account. Bybit supports deposits in several cryptocurrencies, including Bitcoin, Ethereum, and USDT (Tether). You can deposit these digital assets directly into your Bybit wallet.
4. Buy Wrapped Bitcoin: To buy Wrapped Bitcoin on Bybit:
   • Navigate to the “Spot” trading section on the platform.
   • Select Wrapped Bitcoin (wBTC) as the cryptocurrency you wish to purchase.
   • Choose your trading pair (e.g., wBTC/USDT).
   • Enter the amount you want to buy and review the transaction details.
   • Confirm the purchase to complete the transaction.
5. Store Your Wrapped Bitcoin: After purchasing Wrapped Bitcoin, you can store it in your Bybit wallet. However, for added security, it’s recommended to transfer your Wrapped Bitcoin to a private wallet, such as a hardware wallet (e.g., Ledger or Trezor), rather than keeping it on the exchange.

Benefits of Using Bybit:

• Advanced Trading Options: Bybit is ideal for traders looking for advanced features like margin trading and leverage, along with access to a wide range of crypto assets.
• Fast Execution and High Liquidity: The platform provides fast order execution and deep liquidity, which is crucial for active traders in fast-moving markets.
• Security: Bybit prioritizes user security with features like two-factor authentication (2FA), cold storage, and an insurance fund.
• Mobile Trading: Bybit’s mobile apps allow users to trade and monitor their portfolios from anywhere.
• Competitive Fees: Bybit offers competitive trading fees, making it an attractive option for traders looking to minimize costs.
• 24/7 Support: Bybit provides round-the-clock customer support to help resolve any issues or concerns quickly.

Best Wrapped Bitcoin wallet: Electrum

When using a desktop wallet, we have had very good experiences with the Electrum Wallet for Wrapped Bitcoin (wBTC). We will show you how to download and use it. First, go to the official site and download the wallet (click!). Clicking the link will direct you to the website where you can download the wallet. Scroll down a bit and click the button “Download Electrum.”

Now, you’ll land on a page where you have to select the appropriate wallet for your operating system. If you’re using Windows, download the wallet version for Windows. For instance, if you’re a Windows user, click on “Windows Installer” (as shown by the red arrow in the image). If you’re looking for the app for Android, select the installer for that.

Once the file is downloaded, click on the setup file. Select a directory where the wallet should be installed and click “Install.” The installation should not take more than 2 minutes. Once completed, click “Close.”

Congratulations, the wallet is installed. Now, start the Electrum Wallet by double-clicking the Electrum icon on your desktop. The software will first ask how you want to connect to a server. As a beginner, we recommend selecting “Auto connect” at this stage.

The Electrum software will detect that you haven’t created a wallet yet. At this point, click “Continue” and name your wallet if necessary. You will then be able to set up different types of wallets. If you’re unsure about the wallet setup, we recommend choosing the “Standard wallet” at the beginning. The standard wallet is completely free and works well for most users.

Alternatively, if you want extra security, you can opt for a “Wallet with two-factor authentication“. This requires a smartphone and the Google Authenticator app, available on both the App Store and Google Play Store. However, using this option incurs an additional cost. We recommend it as it significantly enhances the security of your wallet.

After clicking “Next,” you’ll be prompted to generate a seed. We recommend choosing the “Segwit” option as this is the most common address format. Once you’ve selected Segwit, a 12-word seed phrase will appear. This phrase is crucial for recovering your wallet if you lose your password or your computer crashes. Therefore, it is extremely important to note down the seed phrase somewhere safe, preferably on paper, and keep it secure.

Next, you’ll be asked to confirm the seed phrase. After successfully doing so, Electrum will prompt you to create a password. The longer the password, the better. Be sure to include numbers and special characters for added strength. This password will be required every time you open your wallet, so store it securely.

Now you are ready to use the Electrum Wallet for Wrapped Bitcoin. The “Receiving Address” can be found in the upper-right corner under the “Receive” section. Copy this address and enter it in your exchange (such as Litebit) as the “Receiving Address.” Once you’ve entered the receiving address for your Wrapped Bitcoin wallet, select a payment method and click “Buy.” The transaction should be credited to your wallet within 24 hours.

If you have any questions, feel free to leave a comment, and we’ll be happy to assist you!