How to buy Wrapped Bitcoin (WBTC) in Australia

Learn how to buy Wrapped Bitcoin (WBTC) easily by following a step-by-step guide and compare 10+ crypto exchanges.

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How to buy Wrapped Bitcoin

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Wrapped Bitcoin.

  1. Open an account on an exchange that supports WBTC.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Wrapped Bitcoin.
  3. Buy Wrapped Bitcoin.
    Complete your Wrapped Bitcoin purchase and then find the best wallet to store WBTC.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Wrapped Bitcoin?

Wrapped Bitcoin represents Bitcoin on the Ethereum blockchain. It is an ERC20 token that’s backed 1:1 by Bitcoin held in cold storage by a custodian, BitGo. This token enables quicker Bitcoin transactions on the Ethereum network thus facilitating a quicker implementation of Bitcoin on the Ethereum blockchain. It essentially acts as a bridge between the Ethereum and Bitcoin blockchain.

WBTC is currently the most prominent wrapped token setting an example for why wrapping tokens is beneficial to the cryptocurrency community.

Wrapped Bitcoin (WBTC) is the 16th largest cryptocurrency in the world by market cap, valued at $14,465,550,108. The current price of Wrapped Bitcoin is $56979, which is 0.277% higher than yesterday. Prices have ranged between $57298 and $55809 over the past 24 hours. All prices are listed in US dollars and accurate as of December 02, 2021 10:12 UTC.

Where to buy Wrapped Bitcoin

Find an exchange to buy, sell and trade WBTC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD, NZD

293
cryptocurrencies

Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

276
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

310
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 290 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

271
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

172
cryptocurrencies

Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
Grow your retirement wealth with Cointree
FTX Cryptocurrency Exchange
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

72
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

870
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
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Compare up to 4 providers

Is it a good time to buy Wrapped Bitcoin?

The technical analysis gauge for Wrapped Bitcoin displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Wrapped Bitcoin based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.

This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Wrapped Bitcoin: moving averages, oscillators and pivots. Finder is not responsible for how WBTC performs.


Wrapped Bitcoin at a glance

Information last updated December 02, 2021 10:12 UTC.
Coin symbol WBTC
Coin Marketcap US$14,465,550,108
Total WBTC supply 253,876
Circulating WBTC 253,876
Current price US$56979
All time high US$70,643.00
Partnerships Kyber Network, Ren, BitGo
Industry Decentralised finance
Network Ethereum

Wrapped Bitcoin price performance over time

Historical prices compared with the price of US$56979.

1 hour 0.03%
24 hours 0.28%
7 days -0.27%
14 days -5.96%
30 days -6.82%
60 days 19.32%
200 days 21.12%
1 year 202.22%

How to sell Wrapped Bitcoin

You can cash out your WBTC with the same exchange you bought it through:

  1. Sign in to the exchange you have WBTC on.
    If you store your Wrapped Bitcoin in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of WBTC you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Wrapped Bitcoin.

What to consider when buying Wrapped Bitcoin

Below are the aspects you should consider before investing in WBTC:
  • Competitors: This token is not the only tokenized version of wrapped Bitcoin. The other two most prominent alternatives are BTCB, the wrapped Bitcoin on the Binance Smart Chain, and RenBTC on the Ethereum blockchain using the RenVM protocol.
  • Centralisation: The biggest flaw with the existence of WBTC is the high degree of centralisation that’s a part of the creation and distribution process. Whereas, the unique core proposition of cryptocurrencies is that they are decentralized without the flaws of the fiat currencies. The centralisation in WBTC is brought in with BitGo. BitGo is the only custodian of the token with whom the actual Bitcoin backing this token is saved in cold storage. Due to this, BitGo is the single point of failure for WBTC. Any vulnerability with BitGo, technical or otherwise, will be a vulnerability to the entire network and its coins. An alternative, RenBTC, instead of using a merchant, the users engage with a smart contract and RenVM, a combination of which allows users to mint RenBTC in a decentralised ecosystem.

Disclaimer: Cryptocurrencies, including Wrapped Bitcoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of WBTC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Wrapped Bitcoin or any other cryptocurrency discussed.


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