What makes kBTC special is that it is fully backed 1:1 by Bitcoin. This means that for every kBTC token you own, there is an actual Bitcoin securely held by Kraken.
According to Kraken, this setup ensures that you can always verify your tokens on the blockchain. Let’s discover more info about kBTC.
What is kBTC?
kBTC stands for Kraken Bitcoin. With kBTC, you can use it in the Ethereum network, OP Mainnet, and other growing DeFi ecosystems. So, you might be wondering, “What’s the big deal about DeFi?” Well, decentralized finance is all about creating financial services that don’t rely on traditional banks.
With kBTC, you can lend, borrow, or trade-in a decentralized way, which can save you money on fees and give you more control over your assets. Plus, kBTC is designed to work with a variety of networks. Right now, it’s available on Ethereum and OP Mainnet, with plans to expand to other networks soon.
Introducing $kBTC – an ERC-20 token fully backed 1:1 by Bitcoin, held securely by Kraken and always verifiable onchain.
More possibilities.
More functionality.
More transparency.
Let’s take a closer look pic.twitter.com/VammHbyJKm
— Kraken Pro (@krakenpro) October 17, 2024
One of the biggest concerns when dealing with cryptocurrencies is security. Kraken is known for its strong security measures, which means your kBTC is in good hands. With every kBTC token backed by real Bitcoin, you can feel confident that your investment is safe and sound.
More About Kraken
Williams Racing and Kraken are excited to announce the expansion and extension of their pioneering global partnership into the 2025 Formula 1 season. Since its inception, this collaboration has redefined fan engagement in Formula 1, both online and offline, by utilizing the technology behind cryptocurrencies to create innovative experiences for fans.
Here to stay
We are happy to announce our partnership extension with @krakenfx, continuing our fan-focused partnership into 2025. Full story
— Williams Racing (@WilliamsRacing) October 17, 2024
Kraken has played a vital role in enhancing Williams Racing Fan Zones around the world, serving as the Presenting Partner. This partnership has allowed nearly 200,000 visitors to immerse themselves in the Williams Racing experience. This offers opportunities to meet drivers, try out racing simulators, and get up close to the team’s cars.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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This articles is written by : Fady Askharoun Samy Askharoun
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