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What is WBTC?

Bitcoin is the most recognizable cryptocurrency or digital asset in the world, but since the Bitcoin protocol doesn’t natively support general smart contracts, there isn’t an easy way to use it in decentralized finance (DeFi). WBTC, or Wrapped Bitcoin, is the solution to this problem. In this article we go into more detail about what exactly WBTC is, and why there is a need for it.
What is WBTC?
Trade WBTC, WETH, VERSE, DAI, and other cryptoassets on Bitcoin.com’s multichain Verse DEX. Enjoy permissionless and non-custodial trading access to DeFi, with a special focus on newcomers. Safely and securely swap crypto with low fees, including cross-chain trading between BTC, BCH, ETH and more. Anyone can also earn yield by providing liquidity through Verse DEX Pools, and additional rewards through Verse Farms.

Table of Contents

  1. What is Wrapped Bitcoin (WBTC)?
  2. What is the need for Wrapped Bitcoin (WBTC)?
  3. How is WBTC created?
  4. Are there other types of wrapped Bitcoin besides WBTC?

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