Wrapped BTC is not Bitcoin
For trading convenience some investor are using wrapped bitcoin so that it can be traded on other blockchain networks such as Ethereum or Solana. You are handing over access to your private keys in the smart contract that allows these IOUs to be traded on other chains. Don't confuse this for real BTC, is there is a problem with these other chains you will lose access to your assets (even if your exchange stays solvent).
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