Wrapped Bitcoin (WBTC) Trading Down 5.9% This Week

Wrapped Bitcoin (CURRENCY:WBTC) traded up 0.4% against the US dollar during the twenty-four hour period ending at 17:00 PM E.T. on June 10th. During the last week, Wrapped Bitcoin has traded down 5.9% against the US dollar. One Wrapped Bitcoin coin can now be bought for about $36,531.79 or 0.99815225 BTC on cryptocurrency exchanges. Wrapped Bitcoin has a total market capitalization of $6.91 billion and $146.67 million worth of Wrapped Bitcoin was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

  • Cosmos (ATOM) traded 6.1% lower against the dollar and now trades at $12.79 or 0.00034941 BTC.
  • Creditcoin (CTC) traded down 6.6% against the dollar and now trades at $3.46 or 0.00009458 BTC.
  • Venus (XVS) traded down 1.3% against the dollar and now trades at $25.68 or 0.00070170 BTC.
  • Function X (FX) traded 0.5% higher against the dollar and now trades at $0.37 or 0.00001012 BTC.
  • StableXSwap (STAX) traded 0.1% higher against the dollar and now trades at $3.37 or 0.00009204 BTC.
  • mStable USD (MUSD) traded down 0.1% against the dollar and now trades at $0.99 or 0.00002696 BTC.
  • Redd (RDD) traded up 1.7% against the dollar and now trades at $0.0011 or 0.00000008 BTC.
  • Phantasma (SOUL) traded 2.3% lower against the dollar and now trades at $0.24 or 0.00000645 BTC.
  • Darwinia Network (RING) traded 4.7% lower against the dollar and now trades at $0.0461 or 0.00000126 BTC.
  • Nestree (EGG) traded 2.7% higher against the dollar and now trades at $0.0054 or 0.00000015 BTC.

About Wrapped Bitcoin

Wrapped Bitcoin (CRYPTO:WBTC) is a PoW/PoS coin that uses the Scrypt hashing algorithm. It launched on November 27th, 2018. Wrapped Bitcoin’s total supply is 189,061 coins. Wrapped Bitcoin’s official Twitter account is @WrappedBTC. Wrapped Bitcoin’s official website is wbtc.network.

According to CryptoCompare, “Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. WBTC standardizes Bitcoin to the ERC20 format, creating smart contracts for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.  To receive WBTC, a user requests tokens from a merchant. The merchant then performs the required KYC / AML procedures and verifies the user’s identity. Once this is completed, the user and merchant execute their swap, with Bitcoin from the user transferring to the merchant, and WBTC from the merchant transferring to the user. “

Buying and Selling Wrapped Bitcoin

It is usually not presently possible to buy alternative cryptocurrencies such as Wrapped Bitcoin directly using U.S. dollars. Investors seeking to trade Wrapped Bitcoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Wrapped Bitcoin using one of the exchanges listed above.

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