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Exchange Wrapped Ether (WETH)

If you're looking to swap Wrapped Ether, SwapSpace is your one-stop shop. We have some light reading for you — in case you'd like a refresher on what is Wrapped Ether, or some fresh information about WETH’s price movements. And, of course, we provide you with multiple Wrapped Ether exchange options so that you can choose the offer with the best rates and lowest Wrapped Ether fees, as well as other parameters that suit you.

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Wrapped Ether Price Stats

To help you make a decision about exchanging your Wrapped Ether, we gathered some cold hard numbers: Wrapped Ether price chart and other stats, such as Wrapped Ether market cap.

WETH 24H HIGH

WETH 24H HIGH $2,167.37809561

WETH MARKET CAP

WETH MARKET CAP $0

WETH CIRCULATING SUPPLY

WETH CIRCULATING SUPPLY 2,935,022.471 WETH

WETH 24H LOW

WETH 24H LOW $2,165.57288784

WETH PRICE

WETH PRICE $2,166.91576738

WETH 24H VOLUME

WETH 24H VOLUME $0

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Wrapped Ether Price Chart

Here you can see the current price of Wrapped Ether, as well as Wrapped Ether price history.

What is Wrapped Ether?

Wrapped Ether (WETH) is an ERC-20 token on the Ethereum blockchain that represents Ether (ETH) in a 1:1 ratio. WETH was created to make it easier for Ether to be traded on decentralized exchanges (DEXs) and used in smart contracts requiring an ERC-20 token format. The "wrapped" in WETH signifies a tokenized version of Ether.

Wrapped Ether (WETH) was created to facilitate the trading of Ether (ETH) on decentralized exchanges (DEXs) and to enable the seamless integration of Ether into the Ethereum-based ecosystem. The concept of wrapped assets, where native blockchain assets are represented as tokens on the same blockchain, has been used to standardize assets for smart contracts and decentralized applications.

The concept of wrapping Ether has been around for several years, with WETH gaining prominence as decentralized finance (DeFi) gained popularity on the Ethereum blockchain.

A consortium of Ethereum projects led by Ox Labs pioneered the concept and development of Wrapped Ethereum (WETH). The initial WETH smart contract was introduced in November 2017. Ethereum (ETH) itself was collaboratively created by Vitalik Buterin, Gavin Wood, Charles Hoskinson, Joseph Lubin, and Anthony Di Iorio in 2014. As the pioneer cryptocurrency platform, ETH played a crucial role in the development of decentralized applications (DApps).

WETH adheres to the ERC-20 token standard, which defines a set of rules and functions that an Ethereum token contract must implement. This standard ensures compatibility with a wide range of decentralized applications (DApps) and platforms that support ERC-20 tok

Many decentralized exchanges operate on the Ethereum blockchain, and they primarily support ERC-20 tokens. To enable the trading of Ether on these platforms, a tokenized representation of Ether (WETH) was created.

Decentralized finance applications often use ERC-20 tokens to represent various assets, allowing for composability and interoperability between different protocols. Having Ether in an ERC-20 format (WETH) makes it easier to integrate Ether into these DeFi applications.

WETH maintains a 1:1 peg with Ether, meaning that each WETH token represents one Ether. This ensures that the value of WETH is always equivalent to the value of Ether.

Users can convert their Ether into WETH by depositing it into a smart contract. This smart contract issues an equivalent amount of WETH to the user's Ethereum address. This wrapping process allows the Ether to be traded on platforms that support ERC-20 tokens. Users then can convert their WETH back into Ether by sending the WETH back to the smart contract. The smart contract then releases an equivalent amount of Ether to the user.

Wrapped tokens need custodians to safeguard the underlying collateral. To illustrate, if you wish to wrap Ethereum, a custodian, which could be a merchant, a multi-signature wallet, or even a smart contract, will secure your Ether and provide you with Wrapped Ethereum in exchange. When you transfer your collateral to the custodian, a tokenized version of your coin is generated. In the case of Wrapped Ethereum, a simple process like visiting a decentralized exchange such as Uniswap allows you to exchange your Ether for Wrapped Ethereum. While the original Ether is transformed into Wrapped Ethereum, the overall value remains consistent, akin to the mechanism employed by stablecoins pegged to the U.S. dollar.

Wrapped tokens such as WETH, WBTC, and others provide the flexibility for tokens to operate across various blockchain networks. Consider an investor who wishes to hold Ether but utilize it on the Avalanche chain; they would utilize Wrapped Ethereum to maintain exposure to ETH's price without engaging with the Ethereum chain. This practice enhances liquidity and capital efficiency across blockchains by enabling investors to wrap assets and deploy them on alternative chains. Additionally, wrapping coins can mitigate transaction times and fees, especially beneficial for Ethereum, which grapples with high gas fees. By wrapping Ethereum on another blockchain, investors can engage in Ether trading at a significantly lower cost.

However, wrapping coins introduces the necessity of relying on a custodian, exposing investors to additional risks. Decentralized exchanges may carry smart contract risks, and custodians like Thorchain are susceptible to hacking threats. Presently, there is no universally accepted fully decentralized solution for wrapping coins. Furthermore, not all blockchain networks support the wrapping of every token. While various versions of WETH are available on most major blockchains, the reverse may not always be true.

WETH is commonly used in decentralized finance (DeFi) applications, decentralized exchanges (DEXs), and other Ethereum-based platforms where ERC-20 tokens are supported. It provides a standardized format for Ether, allowing it to be seamlessly integrated into the broader Ethereum ecosystem.

Like most ERC-20 tokens, WETH typically has 18 decimal places. This means that when interacting with WETH, you might need to consider values in terms of "wei" (the smallest unit of Ether) up to 18 decimal places.

The WETH smart contract includes various events and functions as defined by the ERC-20 standard. Common functions include transferring tokens, checking balances, and approving other addresses to spend tokens on behalf of the owner.

The average fees on WETH 

The fees associated with Wrapped Ether (WETH) transactions can vary depending on the platform, exchange, or service you use. 

Ethereum transactions, including those involving WETH, typically incur gas fees. Gas fees are the costs associated with computational work on the Ethereum network. The fees can fluctuate based on network congestion, and they are paid in Ether. If you are interacting with the WETH smart contract on the Ethereum blockchain, you'll need to pay gas fees.

If you are using a decentralized exchange (DEX) or a centralized exchange to trade WETH, there might be trading fees involved. These fees can vary across platforms, and they are usually a percentage of the trading volume.

If you use a custodian service to wrap or unwrap your Ether into WETH, the custodian might charge fees for their services. Custodian fees can vary based on the service provider.

The WETH token wallets 

Wrapped Ether (WETH) can be stored in any Ethereum wallet that supports ERC-20 tokens, including MetaMask, MyEtherWallet, Ledger, Trust Wallet, Exodus, Coinbase, Atomic Wallet, Infinito Wallet, imToken, Enjin Wallet, Cipher Browser, Coinomi, Guarda Wallet, Parity Signer, etc. 

A Simple Way To Exchange Wrapped Ether Here At SwapSpace

Step 1
Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 2600 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2
Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3
Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4
Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

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Frequently Asked Questions

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