BITCOIN on ETHEREUM? (renBTC, wBTC, tBTC, sBTC) | DEFI Explained
So Bitcoin on Ethereum - a good or a bad idea? What are the use cases for moving your precious BTC to Ethereum? What are the risks? And what are the protocols that make all of this possible? You’ll find answers to these questions in this video.
Okay, so let’s start with why someone would want to move their Bitcoin to Ethereum in the first place?
The short answer is decentralized finance. Let’s try to understand why this is the case.
DeFi took the whole crypto space by storm, showing that payments is not the only area of finance that can be decentralized. In fact, DeFi focuses on rebuilding all financial services in a completely decentralized, open and permissionless way. On top of that, it allows for creating financial applications that were previously just impossible to make.
sBTC, wBTC, renBTC and tBTC can all trade at slightly different prices, usually at a premium to the actual BTC price. This is mainly because the demand for each of these tokens is different. Also, for all but sBTC, it matters how hard it is to redeem the underlying BTC.
📝 RenVM's Road to Decentralization ► https://medium.com/renproject/renvm-and-the-road-to-decentralisation-72213c3bee3a
📘 DeFi Guide ► https://finematics.com/guide-to-decentralized-finance/
📖 Post ► https://finematics.com/bitcoin-on-ethereum-renbtc-wbtc-tbtc-sbtc/
🐦 Follow Finematics on Twitter ► https://twitter.com/finematics
💛 Support Finematics on Patreon and join our Discord community ► https://www.patreon.com/finematics
🔒 Ledger ► https://shop.ledger.com/pages/ledger-nano-x?r=b0b220a75e03 (affiliate)
📱 Argent Wallet ► https://argent.link/finematics (affiliate)
🌐 Get your .crypto Unstoppable Domain ► https://unstoppabledomains.com/r/8160a196fa7e4ac
Видео BITCOIN on ETHEREUM? (renBTC, wBTC, tBTC, sBTC) | DEFI Explained канала Finematics
Okay, so let’s start with why someone would want to move their Bitcoin to Ethereum in the first place?
The short answer is decentralized finance. Let’s try to understand why this is the case.
DeFi took the whole crypto space by storm, showing that payments is not the only area of finance that can be decentralized. In fact, DeFi focuses on rebuilding all financial services in a completely decentralized, open and permissionless way. On top of that, it allows for creating financial applications that were previously just impossible to make.
sBTC, wBTC, renBTC and tBTC can all trade at slightly different prices, usually at a premium to the actual BTC price. This is mainly because the demand for each of these tokens is different. Also, for all but sBTC, it matters how hard it is to redeem the underlying BTC.
📝 RenVM's Road to Decentralization ► https://medium.com/renproject/renvm-and-the-road-to-decentralisation-72213c3bee3a
📘 DeFi Guide ► https://finematics.com/guide-to-decentralized-finance/
📖 Post ► https://finematics.com/bitcoin-on-ethereum-renbtc-wbtc-tbtc-sbtc/
🐦 Follow Finematics on Twitter ► https://twitter.com/finematics
💛 Support Finematics on Patreon and join our Discord community ► https://www.patreon.com/finematics
🔒 Ledger ► https://shop.ledger.com/pages/ledger-nano-x?r=b0b220a75e03 (affiliate)
📱 Argent Wallet ► https://argent.link/finematics (affiliate)
🌐 Get your .crypto Unstoppable Domain ► https://unstoppabledomains.com/r/8160a196fa7e4ac
Видео BITCOIN on ETHEREUM? (renBTC, wBTC, tBTC, sBTC) | DEFI Explained канала Finematics
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
UDP vs TCP - What are the differences?What Is Bitcoin Halving | The Code Behind Bitcoin Halving ExplainedAAVE - The Road To $3 Billion - DEFI ExplainedWhat Is a VAMPIRE ATTACK? SUSHISWAP Saga ExplainedWhat Is BANCOR V2? CHAINLINK Integration And Dynamic Automated Market Maker Explained | DEFIDerivatives in DEFI Explained (Synthetix, UMA, Hegic, Opyn, Perpetual, dYdX, BarnBridge)What are YEARN VAULTS? ETH Vault Explained | DEFI, YIELD FARMINGLightning Network ExplainedUnlocking Ethereum’s Scaling: EIP-4844 ExplainedMeteoric Rise And Fall Of YAM Explained - Ethereum, DEFIHow (Not) To Get REKT - DeFi Hacks ExplainedIs Yield Farming DEAD? Are There ANY Good Opportunities Left? DEFI ExplainedROLLUPS - The Ultimate Ethereum Scaling Strategy? Arbitrum & Optimism ExplainedBinance Smart Chain And CeDeFi ExplainedPolygon PoS Chain - A Commit Chain? DeFi ExplainedThe TRUTH About DEFIHow Does THORCHAIN Work? DEFI ExplainedDEFI - From Inception To 2021 And Beyond (History Of Decentralized Finance Explained)What is DEFI? Decentralized Finance Explained (Ethereum, MakerDAO, Compound, Uniswap, Kyber)SUSHI - Most Underrated Protocol in DeFi? (BentoBox, Kashi, Miso Explained)