The article discusses Coinbase Wrapped Bitcoin (cbBTC), which allows bitcoin holders to convert their BTC into an Ethereum-compatible form and use it in various decentralized finance (DeFi) applications to earn income. The process involves converting BTC to cbBTC at a 1:1 ratio, storing and managing cbBTC in an Ethereum-compatible wallet, and using it for earning interest through lending platforms, earning trading fees by providing liquidity on decentralized exchanges, or utilizing yield vaults that optimize returns. The article also highlights the differences between cbBTC and Wrapped Bitcoin (WBTC) and suggests investing in Coinbase stock ($COIN) as an additional investment opportunity.
- Content Editor ( bitcoinmarketjournal.com )
- 2024-09-13
The Investor’s Guide to Coinbase Wrapped Bitcoin