What does wrap mean in crypto

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The minting process can also to be used on a that natively lives on another. PARAGRAPHA wrapped token is a cryptocurrency and Decentralized Finance DeFi.

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GET OFF ETHEREUM - HERE IS HOW (Wrapped Crypto Assets Explained 2024)
In short, it represents the original value of the BTC that you deposited. Owning that wrapped Bitcoin then means you can use Ethereum-based. Wrapped cryptocurrencies refer to a type of cryptocurrency or token that represents another existing crypto, just on a different blockchain. Wrapped crypto tokens are cryptocurrencies pegged to the value of another original crypto or assets like gold, stocks, shares, and real estate and put to work.

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This means that you can use assets that are not native to Ethereum on Ethereum. But what is a wrapped token exactly, and how does it work? This is why wrapped ether WETH was created. Related Resources What is Cloud Mining? Step 2: The custodian adds it to a reserve a crypto wallet whose proof is published on-chain.