DLC.Link's merchant-only dlcBTC minting restricts retail users from directly wrapping their Bitcoins to mint dlcBTC. As a result, retail users who want to invest in dlcBTC can only acquire them through centralized exchanges (CEXs) and decentralized exchanges (DEXs). As we wait for CEX listing, you can buy dlcBTC tokens on a Web3 wallet, such as MetaMask
This guide will teach you how to buy dlcBTC on MetaMask in three simple steps.
A Step-by-Step Guide for Buying dlcBTC on MetaMask
Step 1: Acquire ETH on a CEX
Log in or sign up with a CEX such as OKX, Binance, or Coinbase.
If your account has no balance, connect your credit or debit card to purchase ETH tokens.
Ensure you have enough ETH to cover the amount you want to spend on dlcBTC tokens, factoring in transaction costs.
Step 2: Transfer Your ETH to MetaMask
Access your MetaMask Wallet, and switch your network to Arbitrum One.
Copy your ETH address from your Web3 wallet and paste it into the "Recipient Address" field on your CEX account.
Step 3: Swap ETH for dlcBTC
Click “Swap” to access the MetaMask Swap page.
Select “ETH” on the first bar space, and “dlcBTC” on the second bar.
Enter the amount of ETH you want to exchange and click “Swap.”
Congratulations, you've successfully purchased dlcBTC!
DeFi Use Cases for dlcBTC
Once you have obtained dlcBTC, you can leverage your tokens in various DeFi applications to maximize your returns and enhance your portfolio's efficiency. Here are some common dlcBTC use cases in DeFi:
Native BTC Staking on Nektar
You can participate in native BTC staking on Nektar Platform and earn staking rewards. By funding the Enzyme staking vault with dlcBTC, you contribute to the security and functionality of the Ethereum network, receiving rewards in return.
Read more about dlcBTC staking on Enzyme
Lending on Aave
You can deposit your dlcBTC tokens into a pool on Aave or Native Lend, decentralized lending platforms. By doing so, users earn lending rewards, providing a steady return on your assets. This option is ideal for users looking to earn interest on their dlcBTC without actively trading.
Learn about dlcBTC lending on Native
Providing Liquidity on Swaap Earn
As a dlcBTC holder, you can provide liquidity on Swaap Earn's DeFi primitives. By contributing to liquidity pools, you earn yield from transaction fees and other incentives provided by the platform. This not only generates income but also enhances the liquidity of the dlcBTC market.
Explore Swaap Earn liquidity opportunities
Conclusion
By following this guide, you can successfully swap ETH for dlcBTC on MetaMask and unlock numerous opportunities in the DeFi ecosystem. dlcBTC enables you to leverage your Bitcoin holdings in a secure, non-custodial manner, ensuring your assets remain under your control while participating in decentralized finance.
After buying dlcBTC on MetaMask, you can stake on Liquid Restaking Token protocols, such as Nektar, lend on AAVE, or provide liquidity on Swaap Earn, each offering unique benefits and rewards. These use cases allow you to maximize returns and enhance your portfolio’s efficiency, making dlcBTC a versatile and valuable asset in the DeFi landscape.
