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Wrapped Bitcoin is a tokenized version of Bitcoin, designed to run on the Ethereum network. Wrapped Bitcoin is backed by Bitcoin at a 1:1 ratio, and uses a network of automatically monitored custodians and marketplaces ensuring this peg is always maintained. Wrapped Bitcoin was founded from the joint effort of Bitgo, Kyber Network, and Ren, three well known, reputable organizations in the crypto sphere.Â
Wrapped Bitcoin’s token, WBTC, is always redeemable on a 1:1 basis for Bitcoin, and is supported across multiple protocols, such as Ethereum, Avalanche, Polygon, Solana, Fantom, Harmony, and Arbitrum.
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*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
Because stablecoins* are designed to maintain a peg to fiat currencies, they can be useful tools. Coins such as USDC, USDT and QCAD generally experience lower volatility than other crypto assets.
*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
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