Cryptocurrency Q&A
How do wrapped coins work?
How do wrapped coins work?
GwanghwamunGuardianAngelWings
Wed Oct 23 2024
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7 answers
1702
I'm curious about wrapped coins. How do they function? What's the mechanism behind them? Are they some sort of special coins or is it just a way of packaging regular coins?
7 answers
Rosalia
Fri Oct 25 2024
A wrapped token represents a unique type of cryptocurrency.
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GinsengBoost
Thu Oct 24 2024
It is designed to be pegged to another cryptocurrency.
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amelia_martinez_engineer
Thu Oct 24 2024
Holders of wrapped tokens have the option to redeem them for the original asset.
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Andrea
Thu Oct 24 2024
They can do this at any point in time.
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CryptoTrader
Thu Oct 24 2024
The pegging ratio is maintained at 1:1.
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