Coinbase Wrapped BTC (cbBTC) is a wrapped version of Bitcoin (BTC), backed 1:1 by BTC held in custody by Coinbase. Coinbase Exchange users have a unified BTC balance, meaning that cbBTC can be withdrawn from and deposited to the users BTC balance. cbBTC withdrawals & deposits are available on Ethereum and Base networks.
Withdrawals of cbBTC
You can withdraw cbBTC via Ethereum and Base from your BTC balance.
Click ‘Withdraw’ to enter the withdrawal flow.
Select Bitcoin as the asset you wish to withdraw.
Select ‘Crypto Address’ to withdraw BTC to an external wallet address.
Select Ethereum or Base network.
Input your Ethereum or Base address.
Mark the displayed checkbox to confirm that you are withdrawing Bitcoin over Base or Ethereum network and assets withdrawn will appear as cbBTC.
Input the amount you want to transfer.
Click ‘Withdrawal’ to initiate the withdrawal.
Deposits of cbBTC
You can deposit cbBTC via Ethereum and Base to your BTC balance.
Click ‘Deposit’ to enter the deposit flow.
Select Bitcoin as the asset you wish to deposit.
Select ‘Crypto Address’ to deposit cbBTC from an external wallet address.
Ensure that you can only send BTC or cbBTC by clicking ‘I understand’ to move forward with your deposit.
Select Ethereum or Base network.
Copy your cbBTC address.
Send cbBTC to this address from your external wallet.
The cbBTC deposited to your account will be automatically converted to BTC.
Restrictions
cbBTC is currently not available to customers in New York, Canada, Mexico, Germany, Singapore, United Arab Emirates, Colombia, Argentina, South Africa, South Korea, Nigeria, Ghana, Chile, Dominican Republic, Jamaica, Ecuador, Peru, Costa Rica, Taiwan, Kuwait, Kazakhstan, Cameroon, Serbia, Trinidad and Tobago, El Salvador, Kenya, Indonesia, Bahrain, Bangladesh, Pakistan, Thailand, Saudi Arabia, Sri Lanka, Morocco, Vietnam, Malaysia, Algeria, Ethiopia, Guatemala, Honduras, Panama, Egypt, Israel, Tunisia, Nepal, Benin, Armenia, Georgia, Mongolia, Paraguay, Cote d'Ivoire, Bolivia, Kyrgyzstan, Angola, Burkina Faso, Togo, Moldova, Albania, Cambodia, Niger, Senegal, Barbados, Maldives, Cayman Islands, Macedonia, Mozambique, Republic of the Congo, Gabon, Saint Lucia, Bermuda, Turkey, Ukraine, British Virgin Islands.
Please contact your Coinbase Exchange Account Manager or Coinbase Support for more details.