How to add wBTC onto Arbitrum

In the below piece we discuss the possible ways of acquiring / transferring wBTC to Arbitrum

What is wBTC and why we use wBTC - Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin, introduced by Kyber Network and BitGo Inc in 2019, click here for WBTC official website and its white paper

- dVOL uses wBTC so that it could bring the biggest two crpto Asset (ETH & BTC) onto the same network and build Option Liquidity Pool (OLP)

Method One ( NOT existing BTC HODLers )

The easiest way to get wBTC on Arbitrum is probably to Swap or perchance wBTC via Uniswap on Arbitrum network You may choose any token (ETH in our example) and swap it for WBTC on Arbitrum, you can then use WBTC with dVOL

Method Two ( Existing BTC HODLers )

However, for existing BTC HODLers, the 1st method might not be the most efficient way, and what HODLers want is probably to directly move BTC to WBTC and then onto Arbitrum. Thanks to Arbitrum Official Bridge, this becomes not only possible and can be done very elegantly (We attach the link to Arbitrum Bridge White paper here too) Step 1: First step is to purchase WBTC using BTC from Exchanges, most of the Top exchanges has the choice of WBTC/BTC

Source: https://www.coingecko.com/en/coins/wrapped-bitcoin

Step 2: Next for those CEX provides the Arbitrum network for WBTC transfer, it is an easy step just to make sure the wallet address used is the one you will use on MetaMask, and network to be Arbitrum. However, at the moment of typing this "How to", few TOP CEX do not provide the choice above, in this case, we will need to move WBTC to ETH mainnet first, before bridging it to Arbitrum

Step 3: Once WBTC is on ETH mainnet, next we will use Arbitrum Official Bridge to move the WBTC from mainnet to Arbitrum This process will take around 10-15min, and then WBTC shall appear in your Arbitrum MetaMask wallet Arbitrum Official Bridge: https://bridge.arbitrum.io/?destinationChain=arbitrum-one&sourceChain=ethereum Arbitrum Bridge white paper: https://docs.arbitrum.io/getting-started-users

You may reverse the above process to move the WBTC back to ETH mainnet or CEX.

NOW, Finally you may use the WBTC in your Arbitrum MetaMask to participate in dVOL.

Subscribe now at pools.dvol.finance