Depositing BTC via Binance Smart Chain (BEP20)

I’m using the app version: v4.7.3

When I go to Shield crypto and search for “btc” I get the following positions:

  • Bitcoin (BTC)
  • Wrapped BTC (WBTC ERC20)
  • Bitcoin 3 (BTC3 ERC20)
  • 0xBitcoin Token (0xBTC ERC20)
  • Bitcoin (BSC BTCB BEP20)

However, when I go to the Trade window and see which cryptos I can trade from and search for “btc” the only relevant verified crypto is Bitcoin itself.

My question is: if I were to deposit Bitcoin on BSC (ie. BTCB) into the appropriate shield address do I get normal Bitcoin (ie. BTC) in the app?

If so, are there any fees associated with taking BTCB and turning it onto BTC? Aside from the ~615 sats BTCB deposit fee and later BTC blockchain tx fees.

Or do I get BTCB and then have to trade that for BTC in some way?

1 Like

Thanks for your question about our bridges. As you see, there are BTC tokens belonging to different networks. E.g. BTC (Bitcoin), WBTC (ERC20), BTCB (BEP20). Each token has a different shielding protocol, and they are not transferable. It means, we can’t shield BTCB and convert to BTC instantly (as normal).
However, there is a way to convert BTCB to BTC and vise versa by trading through pDEX. But there is no liquidity pool with the token BTCB now. In the upcoming version - pDEX v3, we hope to grow up the trading volume, as well as liquidity pool volume. Then you can swap between BTC and BTCB.


Thanks for the response! You’ve answered all my questions.