Convert and Swap Wrapped Bitcoin WBTC to Indian Rupee INR
WBTC/INR: 1 Wrapped Bitcoin equals ₹8,098,658.08 INR
Wrapped Bitcoin (WBTC) is not tradable on Coinbase.
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Last update: 5:28 PM, December 22, 2024
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Wrapped Bitcoin is falling this week.
The current price of Wrapped Bitcoin is ₹8,098,658.08 per WBTC. With a circulating supply of 134,015.919 WBTC, it means that Wrapped Bitcoin has a total market cap of ₹1,085,533,514,371.96. The amount of Wrapped Bitcoin traded has fallen by ₹4,518,810,452.32 in the last 24 hours, which is a 25.19% decrease. Additionally, in the last day, ₹17,940,117,393.78 worth of WBTC has been traded.
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About Wrapped Bitcoin
Wrapped Bitcoin (WBTC) is an Ethereum token that is intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. Through a WBTC partner, 1 Bitcoin can be exchanged for 1 Wrapped Bitcoin, and vice-versa. The BTC that backs WBTC is verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.
Wrapped Bitcoin (WBTC) is a unique cryptocurrency that operates on the Ethereum blockchain, while maintaining a value pegged to Bitcoin. It's an ERC-20 token, which means it's compatible with the Ethereum network's standard, allowing it to be integrated into the Ethereum ecosystem. This integration enables WBTC to be utilized in various decentralized finance (DeFi) applications, such as decentralized exchanges and crypto lending services. The value of WBTC is backed by Bitcoin at a 1:1 ratio, maintained by a network of merchants and custodians. This ensures that the price of WBTC is always equivalent to Bitcoin, facilitating the transfer of liquidity between the Bitcoin and Ethereum networks.
The creation and operation of Wrapped Bitcoin is a process that brings Bitcoin into the world of Ethereum's DeFi ecosystem. When a user wants to convert their Bitcoin into WBTC, the Bitcoin is held by a custodian who participates in the minting and burning of Ethereum-based tokens. During minting, users send Bitcoin to the custodian for storage and receive an equivalent amount in WBTC tokens. When WBTC tokens are burned, the user can reclaim their Bitcoin balance from the custodian. The WBTC DAO, consisting of governing members, decides on significant upgrades and changes to the protocol. These members can also serve as merchants or custodians managing Bitcoin assets.
Wrapped Bitcoin, being an ERC-20 token, can be used across the broader Ethereum ecosystem. This includes trading on decentralized exchanges and exploring DeFi opportunities through protocols and platforms that support WBTC. These opportunities range from lending and borrowing to yield farming, token swapping, and liquidity pools. WBTC can also be used as collateral for a crypto-backed loan, providing a viable option for businesses. Additionally, WBTC holders can earn from supplying liquidity. Another potential use case for WBTC is in margin trading, where it can be used to margin trade Ethereum, stablecoins, and other ERC-20 tokens.
Wrapped Bitcoin is a part of the Wrapped Tokens project, a joint initiative of three organizations: BitGo, Kyber Network, and Ren. BitGo, an institutional digital asset custody, trading, and financial services firm, serves as the original custodian of WBTC. Kyber Network and Ren, both focused on cross-blockchain integration of cryptocurrency assets and DeFi applications, have helped create WBTC and serve as merchants on its network. The project was first announced on October 26, 2018, and officially launched on January 31, 2019. The number of WBTC tokens in circulation is directly dependent on the amount of Bitcoin reserves in the WBTC network, with no predetermined schedule of WBTC issuance.
How Wrapped Bitcoin and Indian Rupee differ
Wrapped Bitcoin (WBTC) and the Indian Rupee (INR) are two distinct forms of currency, each with its unique characteristics. WBTC is a cryptocurrency that operates on the Ethereum blockchain, maintaining a value pegged to Bitcoin. It's an ERC-20 token, which means it's compatible with the Ethereum network's standard, allowing it to be integrated into the Ethereum ecosystem. This integration enables WBTC to be utilized in various decentralized finance (DeFi) applications, such as decentralized exchanges and crypto lending services. The value of WBTC is backed by Bitcoin at a 1:1 ratio, maintained by a network of merchants and custodians. On the other hand, the INR is a traditional fiat currency issued and regulated by the Reserve Bank of India. It's used for all types of transactions within India, from buying groceries to paying taxes. Unlike WBTC, the INR's value is not pegged to another currency but is determined by market forces such as supply and demand, inflation, and the country's economic performance. While WBTC aims to bring the liquidity of Bitcoin into the Ethereum ecosystem, the INR serves as a medium of exchange, store of value, and unit of account within the Indian economy.
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WBTC to Indian Rupee conversion tables
The exchange rate of Wrapped Bitcoin is decreasing.
The current value of 1 WBTC is ₹8,098,658.08 INR. In other words, to buy 5 Wrapped Bitcoin, it would cost you ₹40,493,290.39 INR. Inversely, ₹1.00 INR would allow you to trade for 0.00000012 WBTC while ₹50.00 INR would convert to 0.00000617 WBTC, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 7.07%. Meanwhile, in the last 24 hours, the rate has changed by 1.69%, and that the the highest exchange rate of 1 WBTC to Indian Rupee was ₹8,275,374.74 INR and the lowest 24 hour value was 1 WBTC for ₹8,075,212.43 INR. This time last month, the value of 1 WBTC was ₹8,335,748.51 INR, which is a 3.65% increase from where it is now. Looking back a year, Wrapped Bitcoin has changed by ₹3,661,606.05 INR.
WBTC to INR performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
₹8,241,299.21 INR | -1.69% | ₹8,700,147.85 INR | -7.07% | ₹8,335,748.51 INR | -3.65% | ₹3,661,606.05 INR | 120.36% |
WBTC to INR
Amount | Today at 5:28 pm |
|---|---|
0.5 WBTC | ₹4,049,329.04 |
1 WBTC | ₹8,098,658.08 |
5 WBTC | ₹40,493,290.39 |
10 WBTC | ₹80,986,580.78 |
50 WBTC | ₹404,932,903.91 |
100 WBTC | ₹809,865,807.82 |
500 WBTC | ₹4,049,329,039.08 |
1,000 WBTC | ₹8,098,658,078.17 |
INR to WBTC
Amount | Today at 5:28 pm |
|---|---|
0.5 INR | 0.00000006 WBTC |
1 INR | 0.00000012 WBTC |
5 INR | 0.00000062 WBTC |
10 INR | 0.00000123 WBTC |
50 INR | 0.00000617 WBTC |
100 INR | 0.000012 WBTC |
500 INR | 0.000062 WBTC |
1,000 INR | 0.000123 WBTC |
Today vs. 24 hours ago
Amount | Today at 5:28 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 WBTC | ₹4,049,329.04 | ₹4,120,022.34 | -1.72% |
1 WBTC | ₹8,098,658.08 | ₹8,240,044.68 | -1.72% |
5 WBTC | ₹40,493,290.39 | ₹41,200,223.42 | -1.72% |
10 WBTC | ₹80,986,580.78 | ₹82,400,446.84 | -1.72% |
50 WBTC | ₹404,932,903.91 | ₹412,002,234.22 | -1.72% |
100 WBTC | ₹809,865,807.82 | ₹824,004,468.44 | -1.72% |
500 WBTC | ₹4,049,329,039.08 | ₹4,120,022,342.18 | -1.72% |
1,000 WBTC | ₹8,098,658,078.17 | ₹8,240,044,684.37 | -1.72% |
Today vs. 1 month ago
Amount | Today at 5:28 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 WBTC | ₹4,049,329.04 | ₹4,192,196.23 | -3.41% |
1 WBTC | ₹8,098,658.08 | ₹8,384,392.47 | -3.41% |
5 WBTC | ₹40,493,290.39 | ₹41,921,962.34 | -3.41% |
10 WBTC | ₹80,986,580.78 | ₹83,843,924.68 | -3.41% |
50 WBTC | ₹404,932,903.91 | ₹419,219,623.39 | -3.41% |
100 WBTC | ₹809,865,807.82 | ₹838,439,246.77 | -3.41% |
500 WBTC | ₹4,049,329,039.08 | ₹4,192,196,233.85 | -3.41% |
1,000 WBTC | ₹8,098,658,078.17 | ₹8,384,392,467.71 | -3.41% |
Today vs. 1 year ago
Amount | Today at 5:28 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 WBTC | ₹4,049,329.04 | ₹1,867,295.96 | +116.86% |
1 WBTC | ₹8,098,658.08 | ₹3,734,591.93 | +116.86% |
5 WBTC | ₹40,493,290.39 | ₹18,672,959.63 | +116.86% |
10 WBTC | ₹80,986,580.78 | ₹37,345,919.26 | +116.86% |
50 WBTC | ₹404,932,903.91 | ₹186,729,596.28 | +116.86% |
100 WBTC | ₹809,865,807.82 | ₹373,459,192.55 | +116.86% |
500 WBTC | ₹4,049,329,039.08 | ₹1,867,295,962.77 | +116.86% |
1,000 WBTC | ₹8,098,658,078.17 | ₹3,734,591,925.54 | +116.86% |
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