Garden Finance Guide: Native Bitcoin 🔁 iBTC within 10 minutes

Step-by-step guide to acquire iBTC using Garden.Finance platform. Convert Bitcoin to iBTC for DeFi opportunities on Arbitrum. Learn the process in minutes.

Author

Mayank Sachdev
October 24, 2024

Level 1: Genesis - Acquiring iBTC

Now that you understand the importance of putting your Bitcoin to work and the unique benefits of iBTC, let's walk through the process of acquiring iBTC using the Garden.Finance platform.

Step-by-Step Guide: Converting BTC to iBTC

Step 1: Connect Your Wallet

Navigate to garden.finance

  • Look for and click the "Connect" button to link your Web3 wallet (e.g., MetaMask)

Step 2: Configure Your Swap

Enter & verify transactions details & Refund Wallet

  • Select BTC as your "send" asset and iBTC Arbitrum as your "receive" asset

  • Enter the amount of BTC you wish to convert

  • Fill in your BTC refund address in the designated field

  • Review the transaction details, including fees

  • Click the "Initiate" button to start the process

Double-check all information before proceeding to ensure accuracy.

Step 3: Send Your Bitcoin

Send Bitcoin to Provided Deposit Address

  • After initiating, you'll be provided with a BTC deposit address

  • Copy this address carefully

  • Using your Bitcoin wallet, send the exact BTC amount specified to this address

Precision is crucial in this step to ensure a smooth conversion.

Step 4: Review and Confirm Transaction

Make sure you use correct deposit & refund address for a seamless swap

  • While waiting for confirmations, you can review your transaction details on blockchain explorers.

  • This swap typically takes about 10 minutes

Patience is key during this phase as order fillers process your request.

Step 5: Claim Your iBTC

  • Once confirmed, a "Claim iBTC" button will appear

  • Click this button to confirm the swap to receive your iBTC

  • Your iBTC will be sent to your connected wallet

Congratulations! You've successfully converted your BTC to iBTC.

What's Next?

With iBTC now in your wallet, you're ready to explore more advanced DeFi strategies. Our next level, "Advancement - Leveraging with CurveLend," will guide you through using your newly acquired iBTC as collateral to access even more exciting DeFi opportunities.

Remember, always conduct thorough research and understand the risks involved in DeFi investments. Your journey into Bitcoin DeFi has just begun, and we're excited to guide you through each step of the way!

About iBTC

As a decentralized wrapped Bitcoin, iBTC leverages Discreet Log Contracts (DLCs) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge to cross-chain DeFi, backed by the security of the Bitcoin network. iBTC unlocks yield for your Bitcoin in DeFi with the benefit of lower fees and merchant self-custody, empowering users to put their Bitcoin to work.

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