What's the difference between Bitcoin and Wrapped Bitcoin?

[eenya00]

Bitcoin is the main crypto currency that we all know. Any other crypto currency is fake and should not be taken serious.

No point wasting Money on fake crypto currencies.

You should do your own research properly before coming out to say this, as other crypto currency are not fake, there many legitimate cryptocurrency out there more than 12,000

 

[Gandiba]

You should do your own research properly before coming out to say this, as other crypto currency are not fake, there many legitimate cryptocurrency out there more than 12,000

That's the fact about it, what I am trying to say is that, there are allot of crypto coin which tends to be in the same price even in some years back, but I believe Bitcoin tends to have good value.

 

[Potuse]

Bitcoin is quite different from wrapped Bitcoin and bitcoin is very popular and the pioneer cryptocurrency that people trust to use as majorly a store of value and this is why it adopted.

 

[Good-Person]

There is no difference between the actual bitcoin and wrapped bitcoin. They are the same but like the person you quoted have said. One runs in ethereum ecosystem and the other is a coin.

Well, this is the first time I am hearing about a wrapped version of Bitcoin. Bitcoin has many types and there are many forks of bitcoin. So is wrapped bitcoin a fork of bitcoin?

 

[Chibson]

Well, this is the first time I am hearing about a wrapped version of Bitcoin. Bitcoin has many types and there are many forks of bitcoin. So is wrapped bitcoin a fork of bitcoin?

No, it is not a fork of Bitcoin actually. If you're talking a fork bitcoin you will be talking about bitcoin cash and the rest of them. Wrapped bitcoin maintains exactly the same price as Bitcoin.

 

[eenya00]

Ok, I understand you much better now, as you have clarified your statement but you don't have to keep such believe probably because some crypto investment have failed you in the past

That's the fact about it, what I am trying to say is that, there are allot of crypto coin which tends to be in the same price even in some years back, but I believe Bitcoin tends to have good value.

 

[Gandiba]

Ok, I understand you much better now, as you have clarified your statement but you don't have to keep such believe probably because some crypto investment have failed you in the past

Yes that's the fact, I'm very sure that there are allot of people who made considerable amount of money through the cryptocurrency, even though you have to learn all the necessary skills.

 

[Ernestnari]

One striking difference between the two currencies is that Bitcoin has its own standalone Blockchain while wrapped Bitcoin operates on the Ethereum Blockchain

 

[Mayorla]

Bitcoin is the first crypto currency, while Wrapped Bitcoin is a token that was built to mirror the value of Bitcoin.
It was built on the Ethereum network. But I believe Bitcoin is a good choice over Wrapped Bitcoin.

 

[Nomad]

Well, this is the first time I am hearing about a wrapped version of Bitcoin. Bitcoin has many types and there are many forks of bitcoin. So is wrapped bitcoin a fork of bitcoin?

Wrapped Bitcoin is Bitcoin in the Ethereum network. Wrapped Bitcoin is an ERC20 token pegged at a 1:1 ratio. In other words, the value of one wrapped Bitcoin is the same as one bitcoin.

 

[Riberet19]

As far as I know, I think Wrapped Bitcoin is just a surrogate that tracks the price of Bitcoin is kind of similar to how ETFs work today, but Wrapped Bitcoin in token form on the Ethereum blockchain

 

[EMMANUEL]

Bitcoin (BTC): The original cryptocurrency created by Satoshi Nakamoto in 2009. It operates on its own blockchain and is primarily used as a digital store of value and medium of exchange.
- Wrapped Bitcoin (WBTC): A token that represents Bitcoin on the Ethereum blockchain. Each WBTC is backed 1:1 by Bitcoin held in reserve, allowing users to use Bitcoin within the Ethereum ecosystem.
2. Blockchain:
- Bitcoin: Runs on the Bitcoin blockchain.
- Wrapped Bitcoin: Operates on the Ethereum blockchain as an ERC-20 token, which means it can be used in Ethereum-based decentralized applications (dApps) and smart contracts.
3. Purpose:
- Bitcoin: Primarily used for transactions and as a digital currency and store of value.
- Wrapped Bitcoin: Facilitates the use of Bitcoin within the Ethereum ecosystem, enabling it to be utilized in DeFi (Decentralized Finance) applications, lending, and trading on Ethereum-based platforms.