Sign In
Sign Up
DeFinda Logo
Find & Compare DeFi Products
usd logo USD
Home Crypto DeFi Interest Rates Wrapped Tokens

Compare All Wrapped Cryptocurrencies
September 2022

Wrapped tokens are vital for the crypto economy. They create bridges between different blockchains. Wrapped tokens are tokenized coins on a blockchain other than its native.
Symbol Coin Name Price 7 Day Chart Best Savings Rate
Wrapped Bitcoin logo WBTC
Wrapped Bitcoin
$20,128.17
7.4% arrow up 24 Hr
Buy
Go
5.2%
APY
Wrapped BNB logo WBNB
Wrapped BNB
$286.16
4.8% arrow up 24 Hr
Buy
renBTC logo RENBTC
renBTC
$20,172.38
7.9% arrow up 24 Hr
Buy
Wrapped NXM logo WNXM
Wrapped NXM
$19.78
3.1% arrow up 24 Hr
Buy
Go
5%
APY
Torum logo XTM
Torum
$0.03
3.8% arrow up 24 Hr
Details
Wrapped Origin Axie logo WOA
Wrapped Origin Axie
$1,649.33
0% 24 Hr
Details
renDOGE logo RENDOGE
renDOGE
$0.06
11.5% arrow up 24 Hr
Details
Wrapped Basic CryptoKitties logo WCK
Wrapped Basic CryptoKitties
$2.31
6.3% arrow up 24 Hr
Details
WVG0
Wrapped Virgin Gen-0 CryptoKitties
$354.34
0% 24 Hr
Details
RUNE
THORChain (ERC20)
$1.66
7.6% arrow up 24 Hr
Details
WMATIC
Wrapped Matic
$0.78
5.8% arrow up 24 Hr
Buy
Go
2%
APY
WHT
Wrapped Huobi Token
$4.52
2.8% arrow up 24 Hr
Buy
RENZEC
renZEC
$60.44
6.5% arrow up 24 Hr
Buy
WWAN
Wrapped WAN
$0.19
4.3% arrow up 24 Hr
Buy
WZEC
Wrapped ZEC
$0
0.1% arrow up 24 Hr
Buy
WSHIFT
Wrapped Shift
$0
6.8% arrow up 24 Hr
Details
WBIND
Wrapped BIND
$0.0012
-25.3% arrow down 24 Hr
Details
wCRES
Wrapped CrescoFin
$0
-4% arrow down 24 Hr
Details
WLEO
Wrapped LEO
$0.06
0% 24 Hr
Details
WXMR
Wrapped Monero
$143.35
3.3% arrow up 24 Hr
Buy
MAYFI
Matic Aave Interest Bearing YFI
$0
0% 24 Hr
Details
MAUSDC
Matic Aave Interest Bearing USDC
$0
0% 24 Hr
Buy
WCCX
Wrapped Conceal
$0
0% 24 Hr
Details
WCELO
Wrapped Celo
$0
0% 24 Hr
Details

What are Wrapped tokens?

Wrapped tokens are tokens pegged to the value of a cryptocurrency of a different blockchain other than its native. Wrapped tokens are backed by the original cryptocurrency in a 1 vs 1 ratio. Wrapped tokens are used to buy, sell, or trade different blockchain cryptocurrencies on a single blockchain. Different blockchains have different fundamentals and work on different algorithms. It is like running a PC game on a MAC. You need an interface to run a PC game on a MAC. This makes it hard to buy and sell a coin on a different blockchain. Wrapped tokens are meant to solve this problem and remove barriers between the blockchains.

Wrapped tokens are a good tool to function as a bridge between different blockchains. There are many different projects to solve the problem of communication between different blockchains. Interoperability is a hot topic in the crypto world since there are many different new blockchain projects on the market.

Wrapped Bitcoin is the most used and popular wrapped token. Wrapped Bitcoin tokens are available in almost all blockchains from Avalanche and Solana to Fantom and Polygon. Wrapped Bitcoin tokens are pegged to Bitcoin and their price is always the same as a real Bitcoin. Bitcoin has its native blockchain with its unique features. The bitcoin blockchain is not smart contract compatible. Developers are still able to create innovative ways to deploy smart contracts on the Bitcoin blockchain. The most used wrapped token is the wrapped Bitcoin ERC-20 token on the Ethereum blockchain.

Wrapped tokens are similar to stablecoins. Stablecoins are pegged to the value of a fiat currency since wrapped tokens are pegged to the value of a cryptocurrency. We can consider wrapped tokens as stablecoins because their price is stable. The price of one wrapped Bitcoin is always equal to the price of one Bitcoin. We can also say stablecoins are wrapped tokens of fiat currencies and vice versa. Centralized exchanges are good places to convert them from one to another. You can find BTC/WBTC exchange pairs on any centralized exchange.

It is very important to know the custody level of the wrapped coin. Custodian must hold the same number of coins for each wrapped token minted. The holding wallet can be a multi-sig wallet, a DAO, or a smart contract. Since blockchains are transparent and public, anyone should be able to see the proof of the reserve on a blockchain.

There are now Wrapped Ether tokens on Ethereum. The interesting fact about wrapped Ethers is that Ethereum coins are not ERC-20 compatible coins because the ERC-20 standards are set after the launch of the Ethereum blockchain. Ethereum hosts the most wrapped tokens than any other blockchain. You can trade, buy, or sell any coin on Ethereum by using its wrapped form.

Binance Smart Chain is a very big blockchain with its market cap and number of transactions. Many coins exist on Binance Smart Chain in the form of wrapped tokens. You can find wrapped Bitcoin, wrapped Ether, and wrapped tokens of many other major cryptocurrencies. Wrapped tokens on Binance Smart Chain must be BEP-20 compatible. The BEP-20 is the token standard on the BSC blockchain.

Wrapped tokens are good for liquidity. Wrapped tokens help capital efficiency to increase. Users can benefit from trading and using different coins on a single blockchain and save on cross-chain transfer costs. The most important point about wrapped tokens is the security of the funds and custody. Luckily, we have decentralized, smart contract-based autonomous platforms to mint and demint wrapped tokens. Before using a wrapped token, make sure it is issued by a trusted platform, DAO, or custodian.

Wrapped Coin Comparisons

Article by Yunis
30 June 2021 (Updated 27 September 2022)
Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

Why Compare With Definda?

tick Completely Impartial

We always rank and compare products objectively and impartially.

tick Careful Research

We carefully research products for legitimacy before adding them to the platform.

tick We Never Sell Your Data

We never sell or disclose your data to anyone.

© DeFinda 2022