What are Wrapped Bitcoin, Wrapped Ethereum, and Wrapped Dai? Today we are going to discuss what Wrapped Bitcoin (WBTC) and other coins are and why you should be paying attention to them in DeFi. We’ll cover all of the different types of Wrapped Coins and discuss their use cases.
Wrapped Bitcoin is a relatively new concept, but it could be important to bringing liquidity to DeFi. This concept connects BTC to the Ethereum blockchain. WBTC is an ERC-20 token that’s backed on a 1:1 basis with Bitcoin. One of the main use cases for WBTC is in decentralized finance. Wrapped tokens give the owners of digital assets freedom to explore other blockchains. Find out how YOU should be taking advantage of Wrapped Tokens in 2020 to build your wealth.
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