With Bitcoin reaching a new all-time high, we look back at its history with nothing but appreciation. Hundreds, if not thousands of amazing projects were inspired by the first crypto coin, drawing on its revolutionary foundation and improving on its limitations.
The Bitcoin phenomenon hasn’t left us untouched as well, personally and professionally. Which is why we are happy to join forces with Defibox and pTokens to finally bring Bitcoin to all the Wombat users in the simplest and most rewarding way possible.
Keep in mind that this post should not be treated as financial advice and serves introductory and informational purposes only. Always do your own research before engaging in crypto projects.
How does Bitcoin on Wombat work
Bitcoin exists in Defibox, pTokens & Wombat as pBTC — an EOS-based token transparently backed up by its actual ‘root’ coin. One pBTC will always equal one Bitcoin (BTC).
You can store, transfer, buy and sell pBTC just like any other EOS-based token in your wallet. And, unlike on the Bitcoin network, these transactions go through in mere seconds. All your benefits as a Wombat user will also apply when using pBTC.
Powered by pTokens’ cross-blockchain DeFi solution and Defibox’s reliable liquidity pool, Wombat’s pBTC swap feature will effectively allow you to interact with the most valuable crypto asset at greater speed and with extra rewards!
For every swap you make, you will receive BOX tokens that you will definitely want to use on Defibox — once you accrue an equivalent of at least 1 EOS. You can stake BOX or provide some to a liquidity pool to mine even more! If you don’t feel comfortable enough to engage with DeFi just yet, check out our guide to Defibox.
How can I swap EOS & pBTC?
Open your Wombat wallet and find the Bitcoin-themed banner. You will also find this option in the DeFi section of Wombat’s Explorer.
Simply choose if you wish to exchange your EOS for Bitcoin (pBTC) or vice versa and confirm the transaction. Please note that Defibox will hold a small fee for the swap.
Where can I see my Bitcoin?
You can now include Bitcoin in your assets list. Navigate to the Wallet section of the app and find a + button. You will find Bitcoin pretty high on that list.
You can also add the BOX tokens to monitor the rewards you get for swaps. To add the BOX token, simply find ‘Defibox’ on the same list.
Is there anything else I can do with pBTC?
Certainly! You can provide liquidity to numerous pBTC pools on Defibox to receive BOX rewards or use them as collateral to lend for loans Pizza.
Are there other EOS-based pTokens?
pTokens features dozens of major tokens, such as ETH, LTC, DAI and many others. You safely operate these assets with all advantages of the EOS network right in your Wombat wallet! For more information, please visit the pNetwork's website.
As we extend our reach into DeFi, we will add swap support for more pTokens and other assets.
Join The Wombat Family!
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