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.

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.

kBTC can be used on the following networks:

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.