A key advantage of WXBT is its integration into the world of Ethereum, Tron and Binance wallets, dapps, and smart contracts.
Through the main Website of Xbit and listed Exchanges, 1 Xbit can be converted to 1 Wrapped Xbit, and vice-versa. WXBT was created to allow Xbit holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum.
The XBT that backs WXBT is transparently verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WXBT tokens and Xbit stored by custodian wallet mentioned in the Whitepaper of Xbit. WXBT is maintained by the Bit Gaming LLC.
A cold wallet for Xbit has been created. 90 million Xbit coins, out of the entire 1 billion coins, have been deposited and held in this wallet. These 90 million coins are held in order to back the WXBT tokens that will be minted.
Xbit Platform is operated by Bit Gaming LLC, which is registered in The St Vincent, and having a gaming licence and all rights to operate the gaming software. The site does not encourage or condone any form of substance abuse.