Wrapped ETH, or WETH, refers to an ERC-20 compatible version of ether. So what is WETH contract address and how can we convert ETH to WETH. If you do not know yet, let’s take a look at the article below.
What is WETH contract address?
WETH is a form of cryptocurrency that allows users to place pre-authorized bids that can be fulfilled at a later date without any further action from the bidder. WETH is generated when a user sends ETH to the WETH smart contract. The contract address of WETH is 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2 and it is with 18 decimal places. Total supply of WETH is 1,153,917 WETH.
How can we convert ETH to WETH?
To conver ETH to WETH, we will show you by using Uniswap.
1. Open Uniswap and connect your wallet. Make sure Ethereum is also selected as your network.
2. Select ETH in the top field and WETH in the bottom field. If you click [Select a token], you should see WETH above the list.
3. Enter the amount of ETH to be converted into WETH, and click the [Swap] button.
4. You now need to confirm the transaction in your crypto wallet. Don't forget that you will also need to pay for gas, so make sure you have extra ETH on hand. Check the transaction details and click [Confirm].
5. Now you just need to wait for the transaction to be confirmed in the blockchain. The wait time will depend on the current network traffic. If you are in a hurry, you can speed up the transaction (i.e. pay a higher fee) to confirm the transaction faster.
What happens if I send WETH to ETH wallet?
Wrapping ether involves sending ether to a smart contract. The smart contract will generate wETH in return. At the same time, ETH is locked to ensure that wETH is backed by reserves. Whenever wETH is swapped back to ETH, the swapped wETH is destroyed or removed from circulation.
I hope this article will help you to learn what is WETH contract address and how can we convert ETH to WETH. In order for ETH to be exchanged with other Ethereum-based tokens, it needs to be wrapped into WETH. Wrapping ETH does not affect its value, 1 ETH = 1 WETH.
