How to Add Bitcoin Network to MetaMask Wallet (2023)

Summary: The Bitcoin network cannot be integrated into MetaMask Wallet due to its incompatibility with Ethereum Virtual Machine (EVM), which is required for supporting smart contracts. Currently, MetaMask exclusively supports blockchains utilizing EVM-compatible programming languages, such as Polygon, BNB Chain, Avalanche, Optimism, and Arbitrum.

Nonetheless, Wrapped Bitcoin (WBTC) can be purchased and held on a MetaMask Wallet. WBTC is an Ethereum-based token that represents Bitcoin and has a 1:1 backing. It enables trading, DeFi applications, and other use cases, enabling BTC utilization in the Ethereum and Web 3.0 ecosystem.

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Website

Wallet of Satoshi

4.5 out of 5.0 by Datawallet

Wallet of Satoshi is the most popular Bitcoin Lightning Network wallet with over 1 million users. They allow you to hold, send and receive BTC using Lightning Payment Channels.

Supported Networks

Bitcoin and the Lightning Network

Available Features

Send, Receive and Hold Bitcoin (BTC)

Fees

Transfer Fees Under $1 due to Payment Channels.

How to Add Bitcoin Network to MetaMask Wallet

Unfortunately, users cannot add the Bitcoin Network to their MetaMask Wallet because the BTC Blockchain does not support smart contracts and the Ethereum Virtual Machine (EVM) chain. If BTC holders are looking for a secure web wallet alternative to hold their assets, we recommend Wallet of Satoshi that supports the Lightning Network.

Wallet of Satoshi - A Bitcoin Lightning Wallet.

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Can MetaMask Hold Bitcoin?

No, MetaMask Wallet can not directly custody Bitcoin (BTC) from the Bitcoin blockchain because it is not Ethereum Virtual Machine (EVM) compatible. However, it is possible to hold a wrapped version of Bitcoin, called WBTC (Wrapped Bitcoin), on a MetaMask Wallet. This version of Bitcoin is represented by a token on the Ethereum Blockchain and has a 1:1 peg to Bitcoin. The tokens are redeemable for BTC. The reason why you can add WBTC to your MetaMask Wallet is that it is an ERC-20 token, just like ETH, USDC, USDT, and other assets that the wallet supports.

The best way to buy WBTC with your MetaMask Wallet is through a trusted decentralized exchange like Uniswap. With this method, you can easily swap ETH, USDC or another token for WBTC that can be held in your wallet.

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What can I do with WBTC On-Chain?

One of the biggest advantages to WBTC over BTC is that it offers a load of DeFi yield farming opportunities across major networks like Ethereum, Polygon, Avalanche and more. By using large decentralized finance protocols, users can earn up 10% APY in interest from DeFi money market deposits, liquidity provision and other strategies.

We recommend checking out Defillama to find the safest and highest yielding opportunities for WBTC.

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Is Wrapped Bitcoin (WBTC) Safe?

Wrapped Bitcoin is the largest and most liquid BTC collateralized token on Ethereum and other Layer 1 & Layer 2 blockchains. It is considered safe to use because it is held in a secure multi-signature wallet that requires 3 signatures in order for funds to be moved. The tokens are also 100% redeemable and backed 1:1 with Bitcoin, so users can always exchange their WBTC for BTC at any time.

That said, there are always risks involved with wrapped tokens , so it’s important to do your research. We recommend reading the WBTC whitepaper and researching third-party audits before making any decisions.

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Bottom Line

In summary, Bitcoin cannot be added to MetaMask Wallet due to its incompatibility with Ethereum Virtual Machine. However, Wrapped Bitcoin (WBTC) can be held on MetaMask as an ERC-20 token, enabling BTC utilization in the Ethereum and Web 3.0 ecosystem. To buy WBTC, use a trusted decentralized exchange like Uniswap. For secure web wallet options to hold Bitcoin, consider Wallet of Satoshi.

Author

Emily Shin

Web 3 Writer and Researcher

Web 3 writer with a passion for exploring the rapidly evolving world of decentralized finance (DeFi), non-fungible tokens (NFTs), GameFi, and the broader crypto culture.