Wrapped Ether, or wETH for short, is Ethereum’s ERC-20 standard, which has the same value and can be converted to Ethereum. There are many decentralized applications and platforms on the Ethereum network. Many of these platforms use WETH. Detailed information about what is WETH Wrapped Ether and how does it work, how much it costs, how to buy, etc. can be found in the continuation of the article. You can browse here for information about Digibyte coin (DGB).
What is WETH (Wrapped Ether ) and how does it work?
Wrapped Ether, or wETH for short, is Ethereum’s ERC-20 standard, which has the same value and can be converted to Ethereum. There are many decentralized applications and platforms on the Ethereum network. Many of these platforms use wETH. This is because ETH, the native cryptocurrency of Ethereum, appeared on the Ethereum blockchain, before the ERC-20 standards.
For this reason, ETH is not directly interchangeable with other ERC-20 tokens in the network. For this purpose, instead of evaluating ETH in two separate interfaces, the developers created wETH and enabled it to be used in ERC-20 based applications. wETH can also perform transactions in these applications and many different additional functions.
Users can convert their WETH to ETH at any time from the same value to 1:1. Today, the amount of WETH in circulation is approximately 1,153,917. The ratio of the amount of wETH in circulation to the amount of ETH in circulation is approximately 1%.
So how to buy WETH? WETH is listed and can be purchased on some decentralized cryptocurrency exchanges. However, you should carefully research the stock market you will trade and choose a reliable cryptocurrency exchange.
How much is WETH?
WETH (Wrapped Ether) is the same as Ethereum, with a value of 1:1. As of 27.06.2021, 1 WETH is trading at around $1.835.74.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency