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Author: Admin | 2025-04-27
WBTC. While BitGO may have a Bitcoin reserve that ensures that WBTC maintains the 1:1 ratio price peg with Bitcoin, the way these tokens are distributed may still be controlled by individuals or centralized entities.For example, there has been much controversy regarding Justin Sun, founder of the Tron Blockchain, and his recent partnership with BitGO, the primary custodian of the WBTC tokens. Some crypto enthusiasts have raised concerns around this recent partnership, fearing that Justin Sun’s participation in the managerial affairs of the WBTC ventures may negatively affect the WBTC tokens. Many have referenced Justin’s adverse aftermath effects on the TUSD coin, highlighting that Justin has a track record of misappropriation. Although Wrapped Bitcoins aims to have a 1:1 price ratio with Bitcoin and have more use cases than Bitcoin, there are concerns that centralized entities may still control its supply. How Can You Own a WBTC Token?To own a WBTC token and become a part of users benefiting from its compatibility with the Ethereum blockchain network, follow the simple step-by-step process: Set up a walletTo own a WBTC token, you need to purchase it from a cryptocurrency exchange. To do this, you must create a Gate.io account, complete the KYC process, and add funds to the account to purchase the token. Take action on WBTCUsers can sign up and purchase or trade WBTC tokens here.
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