Here are the steps for converting BTC to wanBTC. The backward converstion steps from wanBTC to BTC are almost the same.
1. Send your BTC to WanWallet Desktop
Open WanWallet Desktop, go to Wallet > BTC > @Bticoin, and copy your Bitcoin address.
Send your BTC from your Bitcoin wallet or crypto exchange to this WanWallet Bitcoin address.
2. Convert
On the left panel, go to Cross Chain > BTC > Bitcoin <-> Wanchain, and click Convert.
wanBTC is the converted format of BTC on Wanchain, so actually wanBTC address is the same to WAN address.
Select your wanBTC address from the itme To(Wanchain) in WanWallet.
Type the amount of bitcoins you want to convert, and click Next.
Note: You need to both have sufficient BTC and WAN on your sender address and receiver address for the Gas fees on both chains. Otherwise, the cross-chain transfer may fail due to insufficient balance.
In the Confirm window, make sure that transaction information is correct, and click Send.
3. Check Transaction Status
In the Transaction History, you can check the status of this transaction.
After the six blocks confirmed on Bitcoin network, you will then receive wanBTC on your WanWallet address. The final transaction status will be Success in your WanWallet if the cross-chain transfer is successful.
There are several types of status you will experience one after another:
- Lock Request Sent
- Locked
- Redemption Request Sent
- Success
About Wanchain
Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.
Written By:
Bryan Ye
Director of Marketing at Wanchain
