Can I buy Bitcoin with Metamask?
You can buy 'Wrapped' versions of Bitcoin with Metamask on any available chain like Ethereum, Avalanche, Fantom, Harmony, and others. You cannot buy normal Bitcoin (BTC) because the token format is different and cannot be ported to the Ethereum Virtual Machine (EVM) infrastructure.
With that said, WBTC, renBTC and other forms of Wrapped Bitcoin are secure and are pegged to the price of Bitcoin. Another great bonus is that you can you lending platforms like AAVE to deposit WBTC and earn interest.
How to buy Wrapped Bitcoin on Metamask
The easiest way to buy Wrapped Bitcoin (WBTC) with a MetaMask Wallet is through a secure decentralized exchange. In the guide below, we outline how to get started in 4 simple steps with the most trusted DEX, Uniswap:
- Buy Ethereum (ETH) from a centralized exchange and send it to your Metamask Wallet
- Visit a trusted decentralized exchange like Uniswap to convert your ETH for WBTC.
- Input the amount of ETH you want to swap for WBTC and select 'Swap'.
- After selecting 'Swap' you will then be shown a confirmation of your transaction. Make sure all of the details for the ETH to WBTC swap are correct and finalize the trade.
How to add Wrapped Bitcoin to Metamask
In order to add Wrapped Bitcoin to your Metamask Wallet, you will need to click the 'Import Tokens' button at the bottom of your Metamask chrome extension. From there, simply type in 'WBTC' as shown below and click through until it appears in your wallet.
The contract address for Wrapped Bitcoin (WBTC) is: 0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599.
Can I add the Bitcoin Network to Metamask?
You cannot add the Bitcoin network to your Metamask wallet because it is not Ethereum Virtual Machine (EVM) compatible. There is no way to bridge Bitcoins from the BTC network (or lightning network) to an EVM chain like Ethereum, Avalanche or Optimism.
Can Metamask hold Bitcoins?
Metamask cannot hold native Bitcoin (BTC), only wrapped Bitcoins like WBTC, renBTC, WBTC.e, aBTC and others.
In conclusion, you can buy Wrapped Bitcoin with Metamask on any available Ethereum-compatible chain. You cannot buy native Bitcoin (BTC) because it is incompatible with the EVM infrastructure. To get started all you need to do is convert ETH to WBTC on an exchange like Uniswap and then follow the instructions outlined in this guideto add WBTC to your Metamask Wallet.
Thanks for reading and happy trading!