Crypto.com Launches Wrapped Bitcoin (CDCBTC), Now Available on Cronos
Transform Your Bitcoin with Seamless Access to Cronos DeFi Ecosystem
Key Takeaways
Wrapped Bitcoin on Cronos: CDCBTC is backed 1:1 by native BTC held securely by Crypto.com.
DeFi-Enabled BTC: Access collateralized lending, asset swaps, yield farming, and more using CDCBTC.
Ease of Use: Crypto.com simplifies the wrapping and unwrapping process, offering low fees and fast speeds.
Discover DeFi Possibilities With CDCBTC
Crypto.com has unveiled Crypto.com Wrapped Bitcoin (CDCBTC), a revolutionary step in making Bitcoin more versatile and adaptable for decentralized finance (DeFi). CDCBTC, backed 1:1 with Bitcoin securely held in Crypto.com’s audited cold storage, empowers users to seamlessly engage with DeFi protocols on the Cronos chain.
Why CDCBTC?
Bitcoin for DeFi: CDCBTC overcomes the Bitcoin blockchain’s smart contract limitations, enabling participation in DeFi services like lending, swapping, and yield farming.
Seamless Wrapping Process: The Crypto.com platform handles the entire wrapping process with ease, ensuring BTC reserves always exceed CDCBTC supply.
Optimized for Cronos: Enjoy faster speeds and lower fees compared to traditional Bitcoin transactions.
Secure and Trustworthy: BTC backing CDCBTC is safeguarded in Crypto.com’s cold storage, providing enhanced security and peace of mind.
How to Get CDCBTC
Transforming your Bitcoin into CDCBTC is straightforward:
Open the Crypto.com App and navigate to Accounts > Crypto Wallet > Transfer > Withdraw.
Choose BTC and opt for withdrawal to either an external wallet or the Crypto.com DeFi Wallet.
Whitelist a Cronos address and proceed with the withdrawal. Your BTC will be converted to CDCBTC automatically.
With CDCBTC in your wallet, you can instantly tap into DeFi services on platforms like H2 Finance and VVS Finance, with more integrations on the horizon.
Launch Offer
For a limited time, Crypto.com has waived BTC withdrawal fees for the Cronos network, making it even easier to get started.
Conclusion
CDCBTC marks a significant milestone in bridging Bitcoin and the DeFi world. With robust security, user-friendly integration, and the scalability of Cronos, Crypto.com Wrapped Bitcoin offers new possibilities for Bitcoin holders to grow and interact with their assets.
Try CDCBTC today and experience the next evolution of Bitcoin in DeFi.
Source: Crypto.com