Move your BTC to the Ethereum Blockchain with MEW swap

This article is about moving your BTC to the Ethereum blockchain through the use of wrapped tokens. If you're trying to swap your BTC for ETH or ERC-20 tokens, please refer to the following article:

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MEW has integrated multiple partner exchanges to offer users the ability to move Bitcoin to the Ethereum blockchain through wrapped tokens. These tokens have their value pegged to a specific crypto, such as Bitcoin, so that they keep the same price despite the volatility of the crypto market.

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Moving your Bitcoin to Ethereum has many different applications. The main benefit is bringing Bitcoin’s value and liquidity to Ethereum. Although Ethereum boasts powerful smart contract technology, Bitcoin is the largest crypto in terms of total market cap. Bridging the gap between Bitcoin and Ethereum allows for more DeFi opportunities, more innovation, and less isolation between chains.

It’s important to remember the risks involved when swapping for any crypto assets. Do your own research to determine the authenticity of a project or team before jumping into any investments, and never invest more than you are prepared to lose.

The pegged token WBTC stands for ‘wrapped BTC’. It is a token initially developed through a partnership of BitGo, Ren, Dharma, Kyber, Compound, MakerDAO, and Set Protocol. Now it is managed through a Decentralized Autonomous Organization (DAO) called WBTC DAO. All Bitcoin used by WBTC is kept and maintained by BitGo as a custodial service.

It’s important to note that WBTC is a centralized solution for wrapped Bitcoin; it’s arguably the most popular as well. WBTC will never be as secure as the Bitcoin blockchain itself, since in the end it’s governed by people and not code itself, but it remains a good option for bringing BTC value to the Ethereum blockchain.

You can read more about WBTC on the WBTC website.

LBTC is a Bitcoin-backed token developed by Lombard Finance, designed to bring BTC liquidity to DeFi. Each LBTC is pegged 1:1 with BTC held in reserve, allowing you to use your Bitcoin across Ethereum-based DeFi protocols without giving up your underlying BTC exposure.

What sets LBTC apart is that deposited BTC is staked through the Babylon Protocol, meaning your Bitcoin is put to work securing other networks while remaining redeemable. This makes LBTC not just a wrapped asset but a yield-bearing one, which is a relatively new concept in the Bitcoin ecosystem. As with any wrapped or liquid staking token, it's always recommended to do your own research before fully committing to any crypto asset.

Read more about LBTC on Lombard Finance's website to learn more about the protocol and how Bitcoin staking works within their ecosystem.

cbBTC is Coinbase's wrapped Bitcoin token, designed to bring BTC liquidity to the Ethereum and Base ecosystems. Each cbBTC is backed 1:1 by real BTC held in reserve by Coinbase, allowing you to use your Bitcoin value across DeFi protocols without selling your underlying position.

As a centralized solution, cbBTC relies on Coinbase as the sole custodian of the underlying Bitcoin, meaning trust in the issuer is an important factor to consider. That said, Coinbase's regulatory standing and track record as one of the largest crypto exchanges makes it one of the more straightforward options for bringing BTC onchain. As with any wrapped asset, it's always recommended to do your own research before fully committing to any crypto asset.

You can read more about cbBTC on Coinbase's website.