Can I add the Bitcoin Network to a MetaMask Wallet?
No, MetaMask does not support native Bitcoin or the Lightning Network. In saying that, it is possible to hold a version of Bitcoin on MetaMask, Wrapped Bitcoin (WBTC), an Ethereum-based token pegged and backed 1:1 with Bitcoin. The wallet only supports EVM-compatible networks, which means WBTC is the only way to get exposure to BTC with MetaMask.
As WBTC is the only way to trade Bitcoin on the Ethereum network, it is available to purchase on most digital asset exchanges in Australia. However, the best platform to buy WBTC on is CoinSpot, as it offers free and instant AUD deposits and low trading fees. Once you have obtained Wrapped Bitcoin, you can send it directly to a MetaMask wallet from CoinSpot.
How to buy WBTC and send to MetaMask
If you want to get Bitcoin (BTC) on your MetaMask wallet, the easiest way is to buy Wrapped Bitcoin (WBTC) from a regulated exchange like CoinSpot. Once you have purchased WBTC on a centralised platform, you can send it to your MetaMask wallet address. After you have received it on MetaMask, you can freely use it to interact with DeFi apps.
Get started with this simple and quick guide:
- Sign up to the CoinSpot exchange and verify your identity.
- Click 'Deposit Funds', pick a method and send money to CoinSpot.
- Go to the 'Buy/Sell' tab, find 'Wrapped Bitcoin' and execute your trade.
- Go to 'Wallets', find 'Wrapped Bitcoin', tap 'Send', input the amount you want to transfer and your WBTC MetaMask wallet address, then click 'Send'.
Alternative Web3 Wallet for Bitcoin Network
The best MetaMask alternative wallet for Bitcoin is the Wallet of Satoshi. This cryptocurrency storage wallet is available to download on iOS and Android devices and is compatible with the Lightning Network. This means you can buy, sell, store and send Bitcoin for a low cost with Wallet of Satoshi thanks to Lightning Networks' peer-to-peer channels.
To summarise, it is not possible to add the Bitcoin network directly to a MetaMask wallet as it is not an EVM-compatible network and can only connect with native crypto wallets like the Wallet of Satoshi. However, it is possible to hold Wrapped Bitcoin (WBTC) on MetaMask as it is an Ethereum-based token that is backed 1:1 to the price of Bitcoin.