How to Earn Wrapped Bitcoin (WBTC): A Comprehensive Guide for the UK

Introduction

Lending Wrapped Bitcoin can be an excellent option for those who wish to hold WBTC while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.

Step-by-Step Guide

1. Obtain Wrapped Bitcoin (WBTC) Tokens

To lend Wrapped Bitcoin, you need to possess it. To obtain Wrapped Bitcoin, you'll need to purchase it. You can choose from these popular exchanges in the UK.

Platform	Coin	Price
Binance	Wrapped Bitcoin (WBTC)	90,931.28
Kraken	Wrapped Bitcoin (WBTC)	91,074.3
OKX	Wrapped Bitcoin (WBTC)	114,676.9
BingX	Wrapped Bitcoin (WBTC)	90,943.42
Bitget	Wrapped Bitcoin (WBTC)	90,898.6
Bitmart	Wrapped Bitcoin (WBTC)	90,931.29

View all 20 prices

2. Choose a Wrapped Bitcoin Lender in the UK
Once you have WBTC, you'll need to choose a Wrapped Bitcoin lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Aave Wrapped Bitcoin (WBTC) Up to 0.02% AER
Bitget Wrapped Bitcoin (WBTC) Up to 1.3% AER
Compound Wrapped Bitcoin (WBTC) Up to 1.82% AER
Klink Wrapped Bitcoin (WBTC) Up to 4% AER
View all 15 loan rates
3. Earn Wrapped Bitcoin
Once you've selected a platform to earn your Wrapped Bitcoin, transfer your Wrapped Bitcoin into your wallet on the earning platform. Once it's deposited, it will begin to accrue AER. Some platforms pay interest daily, while others do so weekly or monthly.
4. Earn AER
Now all you need to do is sit back while your cryptocurrency earns AER. The more you deposit, the more interest you can earn. Ensure that your earning platform pays compounding interest to maximise your returns.

Platform	Coin	AER
Aave	Wrapped Bitcoin (WBTC)	Up to 0.02% AER
Bitget	Wrapped Bitcoin (WBTC)	Up to 1.3% AER
Compound	Wrapped Bitcoin (WBTC)	Up to 1.82% AER
Klink	Wrapped Bitcoin (WBTC)	Up to 4% AER

What to Be Aware Of

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Do not lend more than you are prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.

Latest Movements in the UK

Wrapped Bitcoin (WBTC) is currently priced at US$4 with a 24-hour trading volume of US$463.56M. The market cap of Wrapped Bitcoin stands at US$12.32B, with 131,830.43 WBTC in circulation. For those looking to buy or trade Wrapped Bitcoin, Aave offers avenues to do so securely and efficiently

Market capitalisation: US$12.32B
24-hour volume: US$463.56M
Circulating supply: 131,830.43 WBTC

See the latest information

Frequently Asked Questions About Lending Wrapped Bitcoin (WBTC) in the UK

What is Wrapped Bitcoin (WBTC) and how does it work?: Wrapped Bitcoin (WBTC) is an ERC-20 token on the Ethereum blockchain that represents Bitcoin 1:1. Each WBTC is backed by a real Bitcoin held in reserve by a custodian. This bridge enables Bitcoin holders to access DeFi applications, NFT marketplaces, and tokenized trading on Ethereum without moving BTC off-chain. To obtain WBTC, users typically lock BTC with a custodian or merchant, who then mints the corresponding amount of WBTC. Conversely, burning WBTC releases the underlying BTC back to the user. The system relies on transparent reserve audits to ensure each WBTC is fully backed.
Why would I use WBTC instead of holding Bitcoin directly?: WBTC unlocks Bitcoin’s liquidity for Ethereum-based ecosystems. With WBTC, you can participate in DeFi lending, yield farming, liquidity mining, collateralized loans, and decentralized exchanges that require ERC-20 compatibility. It also enables automated price discovery and programmable smart contracts around Bitcoin value. However, you trade some jurisdictional and custody considerations: you rely on a custodian for the reserves and you may incur fees for minting, burning, and on-chain transactions. Assess risk, including custodian risk and smart contract risk, before converting BTC to WBTC.
What are the key risks and considerations when using WBTC?: Key risks include reserve trust (the necessity that custodians hold adequate BTC reserves), smart contract risks on Ethereum (bugs or exploits), and potential slippage or high gas fees during network congestion. WBTC relies on a transparent audit process to verify reserves, but users should review recent attestations. Also, moving BTC to WBTC involves on-chain mint/burn operations with associated transaction fees. If custody or audits are compromised, the WBTC peg could be affected. Diversify exposure and only use reputable custodians and platforms.
What is the current market status of WBTC, and how can I track it?: As of the latest data, Wrapped Bitcoin trades near 89,437 USD with a 24-hour price change of about -1.97%. The circulating supply is roughly 124,963 WBTC, indicating a portion of Bitcoin has been tokenized. Stay updated by checking trusted aggregators and block explorers that report WBTC price, total supply, and reserve attestations. Note that price may deviate slightly from BTC due to Ethereum gas costs, market demand, and arbitrage activity between BTC and WBTC markets across different exchanges.
How do I acquire or redeem WBTC, and what fees should I expect?: To acquire WBTC, you typically buy BTC first and then use a bridge service or a custodian-merchant to mint WBTC by locking your BTC. To redeem, you burn WBTC and receive the equivalent amount of BTC back to your wallet. Fees vary by service and can include minting/burning fees, on-chain transaction fees (gas on Ethereum), and potential exchange fees. Always perform the process through reputable platforms, review the fee schedule upfront, and consider the time for mint/burn and any third-party service costs.