Coinbase Wrapped BTCcbBTC price and how to buy

What cbBTC is

cbBTC is a wrapped Bitcoin issued by Coinbase. Each token is backed by one bitcoin held in Coinbase custody, and holders with a Coinbase account can redeem it for real BTC.

It exists so Bitcoin can be used inside Solana DeFi — traded, lent or used as collateral — without leaving the network. It is among the deepest non-stablecoin pools on Solana.

What cbBTC is used for

• Most people hold cbBTC to keep Bitcoin exposure without leaving Solana. Moving real bitcoin in and out means a bridge or an exchange each way; holding cbBTC means a swap that settles in about a second for a fraction of a cent.

• It is accepted as collateral across Solana lending markets. Borrowing stablecoins against it is the usual reason, and it carries the ordinary hazard of any collateralised loan: a fall in the bitcoin price liquidates the position automatically, without asking.

• It is one of the deepest non-stablecoin markets on Solana, which makes it a common middle leg in a route. A large trade between two thinner tokens will often pass through cbBTC because that costs less price impact than going direct.

How cbBTC trades

cbBTC has among the deepest liquidity on Solana outside the stablecoins, so a few thousand dollars moves the price very little. The pairing that carries most of it is cbBTC against USDC; routes through smaller tokens exist and will show more price impact. That figure is in the quote before you sign, and on an asset priced in tens of thousands a small percentage is a large number of dollars.

Common mistakes

1. 1

   The commonest mistake is treating cbBTC as bitcoin. It is a claim on bitcoin that Coinbase is holding, and its value rests on Coinbase continuing to hold the reserves and honour redemptions. Bitcoin on its own network has no such dependency.

2. 2

   cbBTC and WBTC are not interchangeable. Both track the bitcoin price and both trade on Solana, but they are separate tokens with different issuers, different backing and separate liquidity. Swapping one for the other is a trade, not a transfer.

3. 3

   cbBTC sent to a Bitcoin address is gone. It is an SPL token on Solana, the two networks share no addresses, and nothing can be recovered afterwards.

4. 4

   A wallet holding only cbBTC cannot sell it. Every Solana transaction is paid for in SOL, so some has to stay behind for fees.

cbBTC — Contract address

Symbols on Solana are not unique: anyone can mint a token using the cbBTC ticker. Verify the mint address, never the name:

The swap panel on this page is already pointed at this mint.