November 29, 2021
Blockchain

New to Blockchain.com Wallet: Dai (DAI) and Wrapped Bitcoin (WBTC)

You can now send, receive, buy, sell, swap, and earn Dai (DAI) and Wrapped Bitcoin (WBTC) in the Blockchain.com Wallet.

DAI is a stablecoin that aims to maintain a value of one US Dollar. Like other stablecoins, it exists to mitigate price volatility and to serve as a reliable means of exchange. What makes it different, however, is that it’s the world’s first crypto-collateralized and decentralized stablecoin. It isn’t backed by US dollars in the bank account of a centralized organization but, rather, by a mix of cryptocurrencies on the Maker protocol (whose governance token, MKR, was recently listed on the Blockchain.com Exchange).

WBTC is designed to represent Bitcoin on the Ethereum blockchain. It allows users to transfer the value of Bitcoin more quickly on the Ethereum blockchain and opens up the possibility for Bitcoin to be used in Ethereum’s ecosystem of decentralized applications.

Pick up some DAI and WBTC today by logging in to your Blockchain.com Wallet.

About Dai (DAI)

Dai is a stablecoin native to MakerDAO, the Maker decentralized autonomous organization, designed to offer a value-stable asset not subject to the same volatility as other digital assets. This stability is created with the purpose of offering a crypto-native hedging opportunity so users and investors are not forced to leave crypto to avoid volatility. For individuals, Maker envisions use as an industry-native volatility protection, use in prediction markets, and as a payment tool at point of sale. For businesses, Maker intends Dai to be used for lending, based on it’s low volatility, and as a tool for global value transfer that is cheaper and faster than legacy alternatives. (Messari)

About Wrapped Bitcoin (WBTC)

Wrapped Bitcoin is the first ERC20 token backed 1:1 with Bitcoin. Wrapped Bitcoin (WBTC) is a project by Bitgo, Kyber Network and Republic Protocol to build an ERC20 token that enables new application use cases for Bitcoin on Ethereum. WBTC is an attempt to standardize bitcoins according to ERC20 which allows Ethereum smart contract developers, decentralized exchange orders, and other parts of the Ethereum ecosystem direct exposure to Bitcoin’s liquidity by serving as a 1:1 pegged coin. (Messari)

IMPORTANT NOTE:

Digital asset markets are unregulated and not currently governed by any specific UK, European or US regulatory framework. Digital currencies are not bank deposits, are not legal tender, and are not backed by the government. Blockchain Access UK Ltd’s products and services are not within the jurisdiction of the UK Financial Ombudsman Scheme, nor are they subject to the UK Financial Services Compensation Scheme, the US Federal Deposit Insurance Corporation or Securities Investor Protection Corporation, or any other non-UK or non-US governmental or government-backed protections.

Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com’s customers are located may adversely affect the use, transfer, exchange, and value of digital currencies.

New to Blockchain.com Wallet: Dai (DAI) and Wrapped Bitcoin (WBTC) was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.

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