O que é kBTC?

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kBTC is a wrapped Bitcoin token issued by Kraken. It’s fully backed by Bitcoin held in Kraken’s custody and designed for use on Ink, Unichain, Ethereum and OP Mainnet networks (and more to come). This allows you to use Bitcoin in DeFi activities and other onchain applications that are not natively supported by Bitcoin.

kBTC is a wrapped token. Wrapped tokens are typically backed by, and represent, other crypto-assets, and are created to facilitate compatibility and interaction across different blockchain protocols. In addition to the general risks associated with crypto assets, wrapped tokens like kBTC have some unique risks. Learn more about kBTC risks here.

FAQ

Each kBTC token is fully backed by an equivalent amount of Bitcoin held by Kraken. This ensures that for every kBTC in circulation, there is an equal amount of Bitcoin securely stored by Kraken, providing transparency and security.

Don’t trust, verify:

Kraken maintains transparency by allowing users to verify the backing of kBTC. You can check the backing balances through the links provided by Kraken.

kBTC is available to all clients that are not in restricted regions, all geographical restrictions can be found here.

To exchange BTC for kBTC, a Kraken client initiates an external withdrawal of BTC from their Kraken account, and an equivalent amount of kBTC is sent to the clients' destination address.

It is important to ensure that the destination supports kBTC. If you are uncertain, consider doing a small test withdrawal.

  1. 1

    Hold some BTC in your Kraken account.

  2. 2

    Go to the Portfolio page on Kraken. (web or mobile)

  3. 3

    Select Withdraw, and choose Bitcoin from the asset dropdown.

  4. 4

    Select Ink (kBTC), Unichain (kBTC), Ethereum (kBTC), or OP Mainnet (kBTC) from the network dropdown.

  5. 5

    Complete the withdrawal process, and your BTC will be exchanged to kBTC on the selected network.

To exchange kBTC back to Bitcoin, you will need to deposit kBTC into your Kraken account. On the deposit page, select BTC from the asset dropdown then select either Ink (kBTC), Unichain (kBTC), Ethereum (kBTC), or OP Mainnet (kBTC) from the network dropdown and send your kBTC to that address.

Once the kBTC is received, Kraken will automatically exchange it back to the Bitcoin equivalent to your Kraken account.

kBTC can be used in various on-chain activities on Ink, Unichain, Ethereum, and OP Mainnet at launch. Keep an eye on our blog and this article for the latest updates on kBTC.

Yes, kBTC benefits from Kraken’s industry-leading security and over a decade of custodial expertise, with the Bitcoin backing each kBTC token securely stored in Kraken’s segregated wallets.

As a state-chartered bank, Kraken Financial ensures the safety and security that is expected from a regulated financial institution, with digital assets protected by advanced encryption and security protocols at all times.

No, there are currently no trading pairs available with kBTC at this time.

Minimum deposit: "

  • Ink: 0.00026 BTC

  • Unichain: 0.00026 BTC

  • Ethereum: 0.00026 BTC

  • OP Mainnet: 0.00026 BTC

Minimum withdrawal:

  • Ink: 0.00006 BTC

  • Unichain: 0.00006 BTC

  • Ethereum: 0.00001 BTC

  • OP Mainnet: 0.00001 BTC

Processing times:

  • On Ink: Approximately 3 minutes

  • On Unichain: Approximately 3 minutes

  • On Ethereum: Approximately 14 minutes

  • On OP Mainnet: Less than 90 minutes

Required network confirmations:

  • Ink: 180 L2 confirmations

  • Unichain: 180 L2 confirmations

  • Ethereum: 70 confirmations

  • OP Mainnet: 40 Layer 1 confirmations

kBTC can be used on the following networks:

  • Unichain

  • Ethereum

  • OP Mainnet

It’s compatible with a wide range of onchain projects, allowing you to explore various opportunities within the on-chain ecosystem. Find out on kraken.com/kBTC.

For clarification, kBTC is not the same as Bitcoin. However, kBTC allows you to participate in the rapidly growing DeFi ecosystem by putting your Bitcoin to work in ways that aren’t possible on the native Bitcoin network just yet. kBTC offers the flexibility to do so.

There are no fees for depositing or withdrawing kBTC.

You can convert any amount of BTC to an equivalent amount of kBTC, with a minimum equal to the required minimum for withdrawals and deposits (see “What are the transaction parameters for kBTC?”).

The conversion rate is 1:1, meaning 1 BTC equals 1 kBTC. For example, 0.1 BTC converts to 0.1 kBTC, and 0.001 BTC converts to 0.001 kBTC.

Yes, the kBTC smart contract has undergone thorough reviews by Kraken’s engineering and security teams. Additionally, it has been subjected to a third-party smart contract security audit, Trail of Bits, to ensure its safety and reliability.

Yes, Kraken is continually exploring opportunities to expand kBTC’s availability. Stay tuned for updates on future network support and keep an eye on kraken.com/kbtc.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any exchange and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. Custody services provided by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution. Kraken Financial is not an FDIC-insured bank and deposits are neither insured by nor subject to the protections of the FDIC.
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