This guide will walk you through converting Bitcoin (BTC) from the Bitcoin network to Wrapped Bitcoin (wBTC) on the Optimism Mainnet. We'll use THORChain for the BTC-to-Ethereum swap and then the Optimism Official Bridge to transfer wBTC to the Optimism network.
Step 1: Swap BTC to wBTC on Ethereum Using THORChain
Access THORSwap: https://app.thorswap.finance/swap
Connect your Bitcoin wallet (e.g., Ledger, Trezor, or a software wallet like Electrum).
Choose BTC as the asset you are swapping from.
Choose ETH as the destination chain and wBTC as the asset to receive.
Enter the amount of BTC you want to swap.
Review the estimated output of wBTC, ensuring it's acceptable considering the fees and slippage.
Send the BTC to the address generated by THORChain.
Wait for the transaction to confirm (may take up to 10 minutes, depending on network congestion).
Once the transaction is processed, you’ll receive wBTC in your Ethereum wallet (e.g., MetaMask).
Step 2: Bridge wBTC to Optimism Using the Official Optimism Bridge
Access the Optimism Bridge: https://app.optimism.io/bridge
Connect your wallet (e.g., MetaMask, Rabby) that holds the wBTC you just received.
Choose wBTC as the token to bridge.
Confirm that you are bridging from Ethereum Mainnet to Optimism Mainnet.
Specify the amount of wBTC you want to bridge to Optimism.
Ensure you have enough ETH in your wallet to cover the gas fees for the transaction.
Approve the wBTC transfer in your wallet.
Confirm the transaction to bridge the funds to Optimism.
The bridging process may take a few minutes. You can track the progress on the bridge interface.
Once the transaction is complete, your wBTC will be available on the Optimism Mainnet in the same wallet.
*Always conduct your own research (DYOR) before proceeding with any transactions or strategies mentioned in this guide.