What is 21BTC?
21.co Wrapped Bitcoin (21BTC) is a wrapped token issued by 21.co that represents BTC on the Ethereum and Solana networks. Designed to unlock BTC’s liquidity in other blockchain ecosystems, 21BTC is fully collateralised by an equal amount of BTC held in cold storage, ensuring a 1:1 value ratio.
Crypto.com App users can obtain 21BTC by withdrawing BTC to non-custodial wallets that support the Ethereum or Solana network.
Find out more at https://www.21.co/tokens.
What are the benefits of holding 21BTC?
Unlock Bitcoin’s DeFi Potential
The use of BTC in decentralised finance (DeFi) is limited by the Bitcoin network’s lack of smart contract functionality and compatibility with other blockchains. Tokenised bitcoins like 21BTC let users engage with decentralised applications (dapps) for swapping, borrowing, staking, and more.
Secure Custody and Minting Process
21BTC is securely held in institutional-grade custody, and the process of minting and burning is managed by Onyx, 21.co’s proprietary operating system.
Seamless Wrapping and Unwrapping
Simply withdraw BTC from the Crypto.com App to wrap it to 21BTC, and deposit 21BTC into the App to unwrap it back to BTC.
Which networks does 21BTC support?
21BTC is available on the Ethereum and Solana networks.
How do I wrap BTC to 21BTC?
The wrapping process is done automatically when withdrawing BTC to an Ethereum or Solana wallet address:
From the Crypto.com App home screen, go to Accounts > Crypto > Bitcoin > Transfer > Withdraw
Select Crypto.com Onchain or an External Wallet
Crypto.com OnChain:
Review the Terms and Conditions, and tap Confirm and Withdraw
Select the Solana or Ethereum network and enter the withdrawal amount
Tap Continue to confirm the withdrawal. Your BTC will be automatically converted to 21BTC and transferred to your Crypto.com Onchain Wallet.
External Wallet:
Select an Ethereum or Solana wallet, or tap the ‘+’ icon on the top-right corner of the screen to whitelist one
Enter the withdrawal amount
Tap Continue to confirm the withdrawal. Your BTC will be automatically converted to 21BTC automatically and sent to the receiving wallet address.
Note: Transaction processing time and fees are determined by the network on which 21BTC is wrapped. Please check the Fees and Limits section for more information.
How do I unwrap 21BTC to BTC?
The unwrapping process is done automatically when depositing 21BTC into the Crypto.com App:
From the Crypto.com App home screen, go to Accounts > Crypto > Bitcoin > Transfer > Deposit
Select the Solana or Ethereum network
Paste the wallet address into the External Wallet you are depositing from or scan the QR code, and confirm the transaction
Your 21BTC will be automatically converted to BTC once it is received in the Crypto.com App
Where is 21BTC available?
21BTC is available in all jurisdictions with the exception of:
The United States and its territories
Canada
The United Kingdom
Japan
Hong Kong SAR
South Korea
Can I trade 21BTC in the Crypto.com App?
21BTC cannot be traded at this time.
Disclaimer: 21BTC is issued by 21.co, which Crypto.com does not control. While you can redeem 21BTC on the Crypto.com App, there are risks like security, operational issues, safeguarding, reserves, or regulatory changes that could impact 21BTC. Crypto.com cannot take responsibility for any issues arising from 21.co. It is important to conduct your own due diligence before making a decision.