There are 4 different BTC tokens (at the moment) because 4 different entities are offering to hold your BTC in return for a credit on the Stellar network. This credit takes the form of a BTC token.
The 4 BTC tokens currently on the StellarX marketplace.
If you buy or trade for a BTC token issued by one anchor, you can, at any point, redeem that token with the anchor for the equivalent amount of BTC on the Bitcoin network.
You can also trade that token on StellarX, and since different anchors offer different rates for the same asset, there’s an opportunity here for experienced traders. Please note that a BTC token issued from one anchor cannot be withdrawn through another.
Before adding a token, please make sure you do your own research. Use caution before engaging in crypto asset trading. Read up on a token on the issuer's website, look at the issuer's Stellar account, and study the relevant white paper. If you're interested in an anchored token, check the issuer's site for specific conditions, fees, and minimums for deposit and withdrawal.
Before you choose one anchored BTC token over another, make sure you trust the issuing anchor, and that you understand the conditions for that token’s redemption.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article