Wrapped Monero (WXMR) ?Complete Guide Review About Wrapped Monero

What Is Wrapped Monero (WXMR) ?

Wrapped Monero (WXMR) brings XMR to the Ethereum network with all the flexibility of an ERC-20 token. is backed 1:1 by Monero and secured by BTSE. brings greater liquidity to the Ethereum and DeFi ecosystem. It gives holders of Monero more flexibility to utilize their tokens without having to sell it for Ethereum or stable coins, in order to access the many exciting opportunities in the DeFi space.

Wrapped Monero (WXMR) Additionally, Monero is a cryptocurrency with historically strong privacy features which sometimes is a disadvantage. When a user obtains Wrapped Monero, it allows them to provide transparency necessary in a world where KYC/AML is increasingly required because Wrapped Monero has the same transparency as other ERC-20 tokens in the Ethereum block chain.

Wrapped Monero (WXMR) Storage Key Points

Minting and Redemption

Wrapped Monero (WXMR) your Monero is as simple as depositing XMR to BTSE, then using the “Convert” function on the Wallet screen. To unwrap, you can also use the same “Convert” function. In this way, WXMR is always backed 1:1 with XMR. BTSE is the custodian of the Monero backing Wrapped Monero. Due to the strong privacy of Monero, “Proof of Reserves” is more complicated than with open blockchains.

Wrapped Monero (WXMR) BTSE has been a trusted custodian since 2018 as an exchange, with experience securing many forms of cryptocurrencies and digital assets. With millions in fiat and crypto currencies under custody, BTSE has proven to be safe and reliable. BTSE will maintain the custody of XMR from beginning to end through the minting and redemption process, and will publish regular cryptographic proof of reserves.

Wrapped Monero and BTSE 

Wrapped Monero (WXMR) BTSE is committed to bring users the best in crypto. They believe Wrapped Monero will contribute in a big way to something that was created by us but will extend to the whole DeFi community. They are excited to be part of the innovation and exploration of decentralized finance and to give Monero users the ability to use their coins on the Ethereum network.

Vision

Vision is the new financial standard built on the foundation of sound, immutable money.

Trading is a major use case for cryptocurrencies and a deciding factor in the growth of the crypto ecosystem. It allows for price discovery on a free market and creates direct touchpoints with the future of money.

Aim is to integrate digital assets with the existing financial world infrastructure, leveraging cryptocurrencies’ decentralization to increase convenience and accessibility. The technology is here—it’s past time to connect it to the world.

The First Exchange Token Built on a Bitcoin Sidechain

Wrapped Monero (WXMR) BTSE is the first exchange token running on Liquid, a Bitcoin sidechain-based settlement network for traders and exchanges. This gives BTSE inherent benefits:

Confidential Transactions

Liquid levels up your privacy by blinding transaction amounts and asset types.

Fast Transactions

Wrapped Monero (WXMR) Liquid blocks are produced every minute, and each transaction is finalized within three minutes.

Inter-Exchange Settlement

Liquid’s inter-exchange settlement makes it easier and faster than ever to move funds between member exchanges.

Token Listing Application

Wrapped Monero (WXMR) Start listing on BTSE today! Thank you for your interest in listing your token on the BTSE Exchange. BTSE strives to make the listing process simple, transparent, and fair. Please fill out the application form with up-to-date and valid information. The will review your token based on the information you have provided; if anything is found to be invalid or false, your token will not be considered for a listing on BTSE. All applications will be reviewed internally by BTSE’s Research and Development team. The decision to list your token will be made solely by BTSE. You can start your preliminary application process here: