How to Buy tBTC

If so, you may be interested in buying tBTC, a crypto asset backed by bitcoin cryptocurrency held in a reserve and safeguarded by nodes who manage bitcoin deposits and redemption.

Purchasing tBTC allows bitcoin holders to interact with the vast suite of DeFi protocols for savings, lending, and investment services, in a way that may offer advantages over existing options.

For more details on how tBTC works and the company that created it, read our ‘What is tBTC?’ guide, which offers a more extensive breakdown. 

Investors may be drawn to the idea that they can hold value in an asset whose long-term value they believe in, while enjoying the accessibility of Ethereum-compatible tokens.

There are a number of ways to buy tBTC. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken. 

Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your tBTC, it can be challenging if not impossible to recover your funds. 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.

Follow the steps below to start buying tBTC on Kraken: 

1. Sign up for a Kraken account.
   First, enter a valid email address, create a new username and set a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can buy tBTC with cryptocurrencies like BTC or XMR. In order to use cash (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.

3. Deposit cash.
   You can fund your account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase tBTC!
   Once your account is funded with cash, you’re ready to purchase tBTC. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize spot trading on margin*, features that help make the Kraken experience beloved by millions of global traders.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

Once you buy tBTC, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to store your tBTC in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

There are many types of tBTC wallets available. Mobile and web wallets make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

When choosing a wallet for your tBTC, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.

Ready to take the next step towards using Ethereum’s DeFi applications? Click the button below to buy tBTC on Kraken today!