On October 19th, 2020 , customers in qualifying countries can send, and receive WBTC on Coinbase Pro. Full trading on Coinbase Pro will begin on or after 9AM Pacific Time (PT) Tuesday October 20th and on Coinbase.com on or after 9AM Pacific Time (PT) Wednesday October 21st 2020.
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 countries support WBTC?
For a full list of countries that support WBTC, please see our Supported Cryptocurrencies help article.
Is full trading available for WBTC?
Full trading on Coinbase Pro will begin on or after 9AM Pacific Time (PT) Tuesday October 20th and on Coinbase.com on or after 9AM Pacific Time (PT) Wednesday October 21st 2020.
How many confirmations are needed for WBTC?
WBTC requires 35 network confirmations.
What are max and minimum withdrawal amounts for WBTC?
Minimum withdrawal is 0.00054 WBTC and max withdrawal is 62.5 WBTC.
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