How does the Bitcoin gateway work

After creating withdrawal request, Bitcoins are transferred to the gateway side as wBTC (Waves BTC) tokens, then gateway processing them and finally sending as external BTC transaction, i.e. wBTC > Bitcoin gateway > BTC.

For deposits, the process is repeating but in the opposite direction BTC > Bitcoin gateway > wBTC asset.

You will receive coins to your Bitcoin address which you used. By the way, deposits and withdrawals process usually takes up to 120 minutes.

Warning. All transactions are always processed only through this gateway address - 3PAs2qSeUAfgqSKS8LpZPKGYEjJKcud9Djr

What is Waves BTC?

The Waves BTC token (wBTC) represents Bitcoin on the Waves blockchain. Waves allow people to store and transfer it more efficiently due to Waves’ high speeds and low transaction fees.

Every wBTC token is 1:1 backed by Bitcoin held in a secure multi-sig account.