Wrapped Bitcoin (WBTC) Balance

What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin (WBTC) represents a tokenized version of Bitcoin (BTC) on the Ethereum blockchain, offering users the ability to harness the power of Bitcoin within the Ethereum ecosystem.

Wrapped Bitcoin is created through a process known as tokenization, where Bitcoin is pegged to a 1:1 ratio with the WBTC token. This process involves users depositing Bitcoin into a custodial account, and in return, an equivalent amount of WBTC is minted on the Ethereum blockchain. This tokenized version of Bitcoin inherits the value and liquidity of Bitcoin itself, making it tradable and usable within the Ethereum ecosystem.