Get a step-by-step guide on how to obtain iBTC using the Garden.Finance platform. Exchange native Bitcoin for iBTC to take advantage of DeFi opportunities on Arbitrum. Learn the process in minutes.
Step 1: Genesis - Get iBTC
Now that you understand the importance of using Bitcoin and the unique advantages of iBTC, let's look at the process of obtaining iBTC using the Garden.Finance platform.
Step-by-step guide: Convert BTC to iBTC
Step 1: Connect your wallet
Navigate to garden.finance
Find and click the 'Connect' button to link your Web3 wallet (e.g., MetaMask)
Step 2: Exchange
Enter & verify transaction details & input withdrawal wallet address
Select BTC as your 'send' asset and iBTC Arbitrum as your 'receive' asset
Enter the amount of BTC you wish to convert
Fill in your BTC withdrawal wallet address in the specified field
Review transaction details, including fees
Click the 'Start' button to begin the process
Please carefully review all information to ensure accuracy before proceeding.
Step 3: Send your Bitcoin
Send Bitcoin to the provided deposit address
Once initiated, you will receive a BTC deposit address
Carefully copy this address
Using your Bitcoin wallet, send the specified exact amount of BTC to this address
Precision in this step is crucial to ensure a smooth conversion.
Step 4: Review and confirm the transaction
Make sure to use the correct deposit and withdrawal address for a seamless exchange
While waiting for confirmation, you can check your transaction details on a blockchain explorer.
This exchange typically takes about 10 minutes
Patience is key at this stage while the order filler processes your request.
Step 5: Claim your iBTC
A 'Claim iBTC' button will appear
Click this button to confirm the exchange and receive your iBTC
Your iBTC will be sent to the wallet you connected
Congratulations! You have successfully converted BTC to iBTC.
What's the next step?
With iBTC, you can explore more advanced DeFi strategies. Our next level 'Advanced - Utilizing CurveLend' will guide you on how to use your newly acquired iBTC as collateral to access more exciting DeFi opportunities.
The risks involved in DeFi investments. Your Bitcoin DeFi journey is just beginning, and we're excited to guide you every step of the way!
About iBTC
As a decentralized wrapped Bitcoin, iBTC leverages Decentralized Log Contracts (DLC) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge for cross-chain DeFi, backed by the security of the Bitcoin network. iBTC unlocks yield for your Bitcoin in DeFi, allowing users to utilize their Bitcoin with lower fees and self-custody advantages.
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