WBTC - Wrapped Bitcoin

What is WBTC? 

Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on the Ethereum blockchain. A key advantage of WBTC is its integration into the world of Ethereum wallets, dapps, and smart contracts.

Through a WBTC partner, 1 Bitcoin can be converted to 1 Wrapped Bitcoin, and vice-versa. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. The BTC that backs WBTC is transparently verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that now consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.

Please note that “wrapping” or “unwrapping” BTC is not available.

What products support WBTC?

  Send/Receive Trading
Coinbase            ✔       ✔
Pro            ✔       ✔
Wallet            ✔      ✖️

What regions support WBTC?

  US NY CAN EU UK DE SG JP
Coinbase   ✔  ✔   ✔  ✔  ✔  ✔  ✔ ✖️
Pro  ✔  ✔   ✔  ✔  ✔  ✔  ✔ ✖️
Wallet  ✔  ✔   ✔  ✔  ✔  ✔  ✔ ✖️

Crypto to fiat trading pairs

   US UK EU
USD   ✔ ✖️ ✖️
GBP   ✖️ ✖️
✖️
EUR   ✖️ ✖️ ✖️

Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.

Crypto to crypto trading pairs

  USDC BTC ETH USDT
WBTC      ✖️   ✔   ✖️    ✖️

See the full list of countries that Coinbase supports for crypto-to-crypto trading.

Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.

How many confirmations are needed for WBTC?

WBTC requires 35 network confirmations. Learn about transaction confirmations.

Which blockchain network hosts WBTC?

WBTC is hosted on the Ethereum blockchain.

What are the minimum and maximum withdrawal amounts?

Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.  

These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain.

There is a withdrawal minimum of 0.00054 WBTC  and a maximum of 62.5 to send from Coinbase to an external address.

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