WBTC, cbBTC and tBTC are ordinary tokens that each represent bitcoin held by someone else, and they differ in who holds the real BTC and who can redeem it: WBTC uses BitGo and BiT Global under multi-party key control, with redemption through verified merchants; cbBTC uses a single custodian (Coinbase), with redemption through Coinbase accounts; and tBTC uses a signer group where 51 of 100 must cooperate, and any holder can redeem. The main trade-off is trust: the custodial tokens depend on the custodian's solvency and willingness to redeem, while tBTC swaps the custodian for an honest-majority signer set and smart-contract risk. WATS Wallet has no native Bitcoin: it runs on EVM networks, Solana and TON, so it can hold a wrapped BTC token only as an ordinary ERC-20 token on an EVM network (or an SPL token on Solana), never BTC on the Bitcoin network. This is how the models compare as of October 2026; if you need actual BTC on the Bitcoin network, use a dedicated Bitcoin wallet.
Disclosure: WATS Wallet publishes this guide, and WATS Wallet is our own product; it does not support native Bitcoin, and we do not endorse or list any wrapped BTC token as supported.
Does WATS Wallet support Bitcoin?
No: WATS Wallet has no native Bitcoin support. It covers EVM networks (Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain and other EVM networks), Solana and TON, as described in what WATS Wallet is.
A WATS address is an EVM, Solana or TON address, so you cannot receive BTC to it. Sending native BTC (an address starting with bc1, 1 or 3) to such an address does not work, and the guide to recovering crypto sent to the wrong network explains why mismatched networks are a common mistake.
A multi-chain wallet without Bitcoin can still hold a token that represents BTC on its own chains. That token is a wrapped token, not bitcoin itself. Some wallets did add native BTC: MetaMask added native Bitcoin support in December 2025, and Trust Wallet and OKX Wallet also support it natively.
What is wrapped bitcoin?
Wrapped bitcoin is a token on another blockchain that is backed 1:1 by BTC locked on the Bitcoin network. Minting locks BTC and creates the token; burning the token releases the BTC.
On Ethereum and other EVM chains it is a standard ERC-20 token, and on Solana it is an SPL token, each with its own contract or mint address (see ERC-20 vs SPL vs Jetton). The difference from native BTC is risk: the token is worth its bitcoin only if the backing really exists and redemption really works, so you take on custodian or bridge risk that native BTC does not have. For how wrapped, bridged and omnichain tokens differ, see omnichain vs wrapped vs bridged tokens.
WBTC was one of the earliest wrapped BTC tokens and has long been the largest. It was introduced in January 2019 by BitGo, Kyber Network and Ren, with a whitepaper dated January 24, 2019.
WBTC vs cbBTC vs tBTC: who holds the bitcoin?
The three tokens differ on two questions: who holds the BTC, and who can turn the token back into BTC.
| Token | Who holds the BTC | Custody model | Who can redeem for BTC | Chains (not exhaustive) | Launched |
|---|---|---|---|---|---|
| WBTC | BitGo and BiT Global (custody restructured August 2024) | Multi-party key control: keys split across BitGo's US and Singapore entities and BiT Global (per Spark) | Identity-verified merchants (for example Galaxy, Wintermute, Cobo); wbtc.network says they are approved through DAO governance. Retail users usually sell on a DEX or exchange | wbtc.network lists Ethereum, Solana, Tron, BNB Chain, Base, Kava and Osmosis as native | January 2019 |
| cbBTC | Coinbase | Single regulated custodian | Coinbase account holders through Coinbase's deposit and withdrawal flow | Ethereum, Base, Solana, Arbitrum (per Spark) | September 2024; Solana on November 7, 2024 |
| tBTC | A signer group of Threshold Network node operators | Threshold signing: each wallet has 100 signer seats and 51 must cooperate (per Threshold docs) | Permissionless: any holder can redeem through the Threshold Network app to their own Bitcoin address | Ethereum, Arbitrum, Base, Optimism, Polygon, Solana, Starknet, Sui and BOB (per Threshold docs) | Current version is tBTC v2; minting went live January 31, 2023 (per Threshold Network) |
Among these three, only tBTC lets any holder redeem at protocol level without a merchant relationship or an exchange account. Spark's comparison tool, read in October 2026, lists roughly 127,000 BTC in WBTC, 86,000 in cbBTC and 9,000 in tBTC; supply figures move, so treat them as a snapshot.
Circle's cirBTC was announced in 2026 and was still in a waitlist phase pending regulatory approval, per an eco article dated July 31, 2026, so it is not in the table. Other variants such as LBTC, FBTC and zBTC exist and are not covered here.
Is wrapped bitcoin safe? The risks each model carries
No wrapped bitcoin is risk-free, because each one replaces the Bitcoin network's security with a custodian, a signer group or a bridge.
- Custodial (WBTC, cbBTC): you trust the custodian's solvency, key security, jurisdiction and willingness to redeem. The August 2024 WBTC change shows the custodian can change after you buy; Plisio reports that DeFi protocols reacted by reducing WBTC exposure and that WBTC's share of wrapped BTC fell from about 90% in mid-2024 to about 60% by the end of 2025.
- Threshold (tBTC): there is no single custodian, but you rely on an honest majority of the signer set and on smart-contract correctness. Call it trust-minimized, not trustless.
- Shared by all three: smart-contract bugs, bridges (a bridged copy on another chain adds the bridge's risk to the issuer's), a market price that drifts below BTC, and possible issuer-level controls such as pausing or blacklisting, which you should check in each token's contract.
This is not investment advice and there is no single safest option. The decision rule is whom you are willing to trust, and whether you personally need to redeem for BTC.
Same ticker, different token: why the contract address matters
A ticker does not identify a token; the contract or mint address does. A WBTC listed on a chain outside the issuer's native list, such as Arbitrum, Optimism or Polygon, may be a bridged copy rather than the Ethereum WBTC contract, so confirm its origin on the issuer's page before relying on it. On Solana, likewise, a wrapped token can be natively issued or reach the chain through a bridge, and each has its own mint address.
Fake tokens that copy the name and logo of WBTC or cbBTC also exist. Take contract and mint addresses only from the issuer's official site or official documentation. Use a block explorer only to confirm that the address you copied matches, never to search for a token by name or ticker, because explorers also list copycat tokens. Confirm the network matches on both the sending and receiving side before you send anything. The guide on adding a custom network and token to a wallet covers verifying an address before you add it.
How to hold BTC exposure in a wallet without native Bitcoin
Use a wrapped token on an EVM or Solana wallet if you want BTC inside DeFi on those chains, and use a Bitcoin wallet if you want to hold bitcoin itself or receive BTC from someone. Many people keep both.
- Pick the token whose custody model you accept.
- Get its official contract or mint address from the issuer's official site or docs, then use a block explorer only to confirm the address matches.
- Add or verify the token in a wallet that supports that chain.
- Acquire it on that same chain.
- Plan the exit: know whether you will redeem through the issuer or sell on an exchange or DEX.
Wrapping and unwrapping happen through the issuer, its merchants or an exchange, not inside a wallet. No wallet mints wrapped BTC for you.
How WATS Wallet relates to wrapped bitcoin
WATS Wallet has no native Bitcoin and does not wrap or unwrap BTC. WATS Wallet, made by Alltoscan LLC, is a non-custodial wallet with a Chrome extension, an iOS and Android app and an optional NFC Metal Card, covering EVM networks, Solana and TON. If you need real BTC, use a Bitcoin wallet alongside it.
A wrapped-BTC token on those chains is an ordinary ERC-20 or SPL token that carries its issuer's custodian or bridge risk. A wallet that supports those chains can hold such a token once you add its verified contract or mint address. WATS names and endorses none of these tokens.
On EVM networks, WATS Wallet charges every action in ATS from one ATS balance on BSC through an ERC-4337 paymaster, so moving any ERC-20 does not require holding ETH for gas. The fee tracks the live network cost and is not a discount; see how ATS fees work. Solana actions pay SOL. You keep your own seed phrase, and WATS never holds a key. For the networks covered, see supported chains.
Frequently asked questions
Can I send bitcoin to my WATS Wallet?
No. WATS Wallet has no native Bitcoin support, and native BTC must go to a Bitcoin address. WATS addresses are EVM, Solana or TON addresses, so use a Bitcoin wallet to receive BTC. Wrapped BTC tokens on EVM and Solana chains are a different asset that carries issuer risk.
Is cbBTC safer than WBTC?
There is no verdict, and this is not investment advice, because the trade-offs differ. cbBTC relies on one regulated custodian (Coinbase) and redemption goes through a Coinbase account, while WBTC relies on BitGo and BiT Global under multi-party key control with redemption through verified merchants. tBTC swaps the custodian for a 51-of-100 signer threshold and permissionless redemption but adds smart-contract and signer-majority risk. The right choice depends on whom you trust and whether you need to redeem yourself.
What is the difference between wrapped bitcoin and real bitcoin?
Real BTC lives on the Bitcoin network, secured by its own keys. Wrapped bitcoin is a token on another chain backed 1:1 by BTC that a custodian holds or a signer group locks. Its value depends on that backing and on redemption working, so it can drift from BTC's price or be restricted. It is useful for DeFi on Ethereum or Solana but is not the same as owning BTC.