Post
Topic
Board Bitcoin Discussion
Merits 10 from 4 users
Re: What is difference between Wrapped Bitcoin and Bitcoin?
by
tranthidung
on 20/12/2022, 14:39:48 UTC
⭐ Merited by hugeblack (4) ,pooya87 (2) ,1miau (2) ,NotATether (2)
Wrapped Bitcoin is not Bitcoin on Bitcoin blockchain.

These wrapped ones are tokens on many chains that can be Ethereum chain, Binance Smart Chain, Solana chain and any other chains. These tokens are promised by their teams that they are backed by bitcoin with 1:1 rate.

Because, wrapped tokens have pegs, they can lose pegs (de-pegs) like stable coins de-peg (UST, TUSD etc.)