Is it possible to bridge BTC onchain to ETH ?

[beerlover]

To my knowledge, Yes, it is possible using Wbtc, where the ratio is also 1:1 based on the value of Bitcoin, but that's why it has an attached risk. Now, the only thing I can think of is why would you do this when you can just exchange your Bitcoin for Ethereum, right? At least in this way you can avoid the charge fee and also avoid the possible issue of liquidity problems, of course we can't say that. You know the risk is always there in such transactions. Now if you are really looking for other services like that, maybe you can also try Horizon Bridge, it just had a hacking issue this year, so don't do it,

Bridging Process For BTC to WBTC On Ethereum

That attached risk is not something smart, there is no need to have an added risk when the real bitcoin is just there and nobody really could say that there is anything wrong with that. I am not arguing that people can't do that, you can do it, but the only wrapped I would be fine with is the wrapped of the chain we are talking about.

So in the case of ERC20 that means ETH would be fine, if we talked about BSC then I would say BNB as a wrapped would be fine. When we are talking about bitcoin, I do not find that fine at all, I wouldn't wrap it and I wouldn't trust any wrapped version of it as well. I believe that it is going to take a while but we are going to have some sort of future that would be different in the end.

[yhiaali3]

We must recognize that Bitcoin is not the same as Ethereum or any other cryptocurrency that supports tokens. Because of its mechanism, Ethereum is the most commonly utilized currency for bridging because it allows for easy transfers from its mainnet to others. But Bitcoin is unique; we cannot compare it to Eth. It doesn't support any other token, so what's the point of bridging? Maybe there are a lot of developers who think about that. In my perspective, it is possible, but making a move is difficult.

In fact, Bitcoin cannot be transferred to the Ethereum network or any other network. What is actually done is to create a token called WBTC equivalent to the value of the Bitcoin to be transferred to the Ethereum network. So WBTC is not actually Bitcoin.

To get WBTC on the Ethereum network you need a bridge or CEX, usually I use the Binance exchange which has transfer options between many networks, if you have Bitcoin on Binance and want to transfer it to (Ethereum network, BSC) you can choose to withdraw and then select the Ethereum network or Binance or any network available.

[jeraldskie11]

It doesn't support any other token, so what's the point of bridging? Maybe there are a lot of developers who think about that. In my perspective, it is possible, but making a move is difficult.

Most of the time something like this is designed with a trading purpose in mind. Faster transaction and relatively cheap fee to transfer with a shaky guarantee that you don't lose your Bitcoin as long as you don't sell your wrapped tokens. Tokenization is the last thing that matters when people do this. Even if they did, you can argue that you don't need other chains and use Bitcoin instead. It is really not difficult, others give you examples of services doing that already. CMIIW.

Honestly, bridging won't make you a faster transaction. I have tried several bridging other token such as Base, Zksync era, and etc. There's no problem to transfer from mainnet to base but when you transfer it back from base to mainnet, the problem will occur, there is a huge fee in order to make a faster transaction. And you have to do many actions since there is what they called L1 and L2.

[Kalson9]

Does such as service exist? I recall there was one that was called RennBTC (or something similar) however due to FTX collapse they got shut down. I recall it was possible to take Bitcoin on the bitcoin blockchain and bridge it to WBTC which was on the Ethereum blockchain.

So wondering if there are any services out there or so called bridges that make this possible? I know its very easy to bridge with ETH, ARB, POLY, BNB, ZkSync, etc however is it possible to bridge back and forth with the BTC blockchain?

There are two main methods for bridging BTC to ETH is wrapping BTC into ERC-20 token via services like WBTC,RenBTC or tBTC.
Making a swap of BTC directly to ETH via DEXes like RocketXchange  or Thorsoap.

[adaseb]

Does such as service exist? I recall there was one that was called RennBTC (or something similar) however due to FTX collapse they got shut down. I recall it was possible to take Bitcoin on the bitcoin blockchain and bridge it to WBTC which was on the Ethereum blockchain.

So wondering if there are any services out there or so called bridges that make this possible? I know its very easy to bridge with ETH, ARB, POLY, BNB, ZkSync, etc however is it possible to bridge back and forth with the BTC blockchain?

There are two main methods for bridging BTC to ETH is wrapping BTC into ERC-20 token via services like WBTC,RenBTC or tBTC.
Making a swap of BTC directly to ETH via DEXes like RocketXchange  or Thorsoap.

How does the Thor work exactly? Does it have bitcoin and Ethereum on both networks and it just sends it to you when you make the bridge?

I am assuming the transaction fees for this aren’t cheap. Also what is the risk here exactly?  What guarantee do you have that you will get your transfer fulfilled?

[libert19]

I think Hydranet dex will bring what you are looking for: https://hydranet.ai/en/hydranet-dex

Edit: also, chainflip [1], you can try on testnet at the moment: https://demo.chainflip.io/


[1] https://twitter.com/Chainflip/status/1703715109552476649/