how to add Wrapped Bitcoin to Coinbase wallet 2024

To add Wrapped Bitcoin (WBTC) to your Coinbase Wallet, follow these steps:

What Is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is an ERC-20 token pegged to the value of Bitcoin (BTC). It allows Bitcoin holders to access decentralized finance (DeFi) applications and smart contracts on the Ethereum blockchain while retaining exposure to Bitcoin's price.

Steps to Add Wrapped Bitcoin to Your Coinbase Wallet

1. Ensure Your Coinbase Wallet App Is Updated: Make sure you have the latest version of the Coinbase Wallet app installed on your device.
2. Open Your Coinbase Wallet App: Launch the Coinbase Wallet app on your device.
3. Go to the 'Receive' Section: Navigate to the 'Receive' section within the app.
4. Search for Wrapped Bitcoin: Use the search function to look for Wrapped Bitcoin or WBTC.
5. Select Wrapped Bitcoin (WBTC): If Wrapped Bitcoin is supported, it will appear in the search results. Select it to access your WBTC wallet address or QR code.
6. Copy Your Wrapped Bitcoin Wallet Address: Copy the wallet address provided or use the QR code for transactions.
7. Transfer Wrapped Bitcoin to Your Wallet: Use the copied address or QR code to transfer WBTC from another wallet or exchange. Ensure you are sending it to the correct network.
8. Wait for Confirmation: Wait for the transaction to be confirmed on the Ethereum blockchain.
9. Verify Your Wrapped Bitcoin Balance: Once the transaction is confirmed, you should see your WBTC balance reflected in your Coinbase Wallet.

Conclusion

Adding Wrapped Bitcoin (WBTC) to your Coinbase Wallet allows you to access decentralized finance (DeFi) applications and smart contracts on the Ethereum blockchain using your Bitcoin holdings. By following the steps outlined above, you can seamlessly integrate WBTC into your Coinbase Wallet and explore the possibilities of DeFi.