What is Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) is a tokenised version of bitcoin (BTC) that brings BTC value into decentralised finance (DeFi) applications. WBTC is an ERC-20 token, a common Ethereum token format, and is backed 1:1 by bitcoin reserves.
This design lets BTC value work within Ethereum apps, including lending, borrowing and decentralised exchanges. WBTC is not the same as holding native BTC: it relies on custodians and reserve management, which adds custody and counterparty risk.
How can you buy WBTC in the Crypto.com App?
In the Crypto.com App, the basic steps are:
- Download the Crypto.com App and sign up.
- Complete identity verification.
- Top up your account.
- Go to the trading screen, select Wrapped Bitcoin and complete your purchase.
The minimum amount needed to buy Wrapped Bitcoin on Crypto.com depends on your payment method: SGD 1 for direct purchases with Apple Pay or Google Pay, SGD 20 by card, and SGD 50 by FAST bank transfer. This means you can buy a small fraction of WBTC rather than a whole token.
Which payment methods can you use to buy WBTC?
You can fund your account with a FAST bank transfer in SGD, a Swift transfer in USD, a debit card, Apple Pay, Google Pay, or a crypto transfer from another wallet. FAST and Swift bank transfers are free on Crypto.com, while crypto deposits may incur other charges.
Before you confirm, check that the payment method, amount and asset match what you intend to buy.
How is buying and holding WBTC different from day trading it?
Buying and holding WBTC usually means taking a longer-term position, with less focus on short-term price moves.
Day trading means buying and selling over short timeframes, often within the same day, to try to profit from price volatility. It takes more time, skill and active risk management, as outcomes depend heavily on timing and market swings.
Either way, WBTC remains a wrapped asset rather than native BTC, so its custody and counterparty risks still matter.