Credit / Debit Card
Fee
Variable Fees
Processing Time
Usually within 1 minute, up to 48 hours
Minimum Purchase Amount
Starting from approx. 10–15 USD
Supported Regions
Subject to region, fiat currency, issuing bank, and payment channel support
How to Buy Wrapped Bitcoin (Sollet) (SOBTC) on LBank
Learn how to buy Wrapped Bitcoin (Sollet) (SOBTC) on LBank, including payment methods such as credit cards, debit cards, Apple Pay, and bank transfers, as well as the purchase process, preparations, and FAQs.
Step 1
Download the LBank App
Please download the LBank App and register to get started
Step 2
Fund your account
Deposit using your preferred payment method.
Step 3
Choose your cryptocurrency
Select the crypto you want to buy from over 3,000,000 cryptocurrencies available on LBank Exchange or Wallet.
Purchase Decision Overview
Bank Transfer / Local Transfer
Fee
Variable Fees
Processing Time
Depends on the payment method; some local channels may be faster
Minimum Purchase Amount
Starting from approx. 1–10 USD
Supported Regions
Subject to local payment channel support
Three Simple Steps to Buy SOBTC on LBank
How to Buy SOBTC on LBank: Payment Methods Overview
Explore the available payment methods for buying SOBTC on LBank, including credit card, debit card, bank transfer, Apple Pay, Google Pay, PayPal, and P2P, to quickly choose the most suitable way to buy SOBTC.
Credit / Debit Card
Processing Time: Usually within 1 minute; up to 48 hours
Use a Visa/Mastercard that supports international online transactions and ensure 3D Secure is enabled; if it fails, try a different card or try again later
Common Reasons for Failure: The issuing bank declined the cryptocurrency transaction; insufficient balance; 3D Secure verification failed; risk control interception; or region/card network not supported
Bank Transfer / Local Transfer
Processing Time: Instant or 1–3 Business Days
Verify the receiving account, reference code, and transfer network, and use a bank account consistent with your identity verification
Common Reasons for Failure: Incorrect receiving information or reference code; name mismatch; bank processing delay; or unsupported transfer network
What Do You Need to Prepare Before Buying Wrapped Bitcoin (Sollet) (SOBTC) on LBank?
Check the preparations required before buying Wrapped Bitcoin (Sollet) (SOBTC) on LBank, including account registration, identity verification (KYC), payment methods, regional availability, and pre-purchase precautions to help you smoothly complete the BTC purchase process.
Suitable for
Users who want to quickly buy SOBTC with fiat
Before You Buy: Checklist
Register and log in to your account
Complete required KYC
Prepare payment method
Confirm regional availability，Check limits / fees / processing time
User Path
Buy Crypto
How to Buy Wrapped Bitcoin (Sollet) on LBank – Step-by-Step Guide
Before you begin, decide how you’d like to pay:
Pay with fiat
If you're new to crypto, using fiat currency (such as USD, EUR, etc.) is the easiest way to buy Wrapped Bitcoin (Sollet). LBank supports various payment methods, including debit cards, credit cards, bank transfers, and other local payment options where available. You may need to fund your LBank account before making a purchase.
Pay with other cryptocurrencies
If you already hold other cryptocurrencies, you can trade them for Wrapped Bitcoin (Sollet) on LBank. Please make sure that LBank supports the trading pair you need (e.g., Bitcoin (BTC)). LBank offers a wide range of trading pairs, allowing you to conveniently convert your existing crypto into Wrapped Bitcoin (Sollet).
LBank supports multiple payment methods
You can use the following payment methods to purchase Wrapped Bitcoin (Sollet) on LBank:
Mobile app guide
1
Open the LBank mobile app and tap “Buy Crypto”
2
Select “Buy”
3
Choose , enter the fiat currency you want to use, input the amount, then tap “Buy” or “Confirm”
Desktop guide
1
Log in to LBank on your desktop browser and click the “One-Click Buy” option.
2
Under the “One-Click Buy” tab:
(a). Choose the fiat currency you want to use
(b). Select the Wrapped Bitcoin (Sollet) you want to purchase
(c). Enter an amount or use quick-select options (e.g., 100, 200, 500, max)
(d). Choose your payment method
(e). Click “Confirm” or “Buy now”
P2P Trading
Merchant | Price | Amount ｜ Limit | Payment Method | Action |
|---|---|---|---|---|
LO Loyalty_Trader 783 min | 100% | 0.918 USD | 7763.29 USDT 500.000 - 7100.000USD | Bank Transfer | |
YY YYDS_Trader 361 min | 100% | 0.954 USD | 1841.00 USDT 400.000 - 1700.000USD | Bank Transfer | |
AM AMG_Trading 734 min | 100% | 0.954 USD | 5348.37 USDT 200.000 - 5102.344USD | Bank Transfer |
What is Wrapped Bitcoin (Sollet) (SOBTC)?
Wrapped Bitcoin (Sollet), often referred to by its ticker soBTC, is a digital asset that was designed to represent Bitcoin on the Solana blockchain. Its primary purpose was to bridge the value of Bitcoin into the Solana ecosystem, allowing users to participate in decentralized finance applications, such as lending and trading, using a Bitcoin-equivalent token on a faster network. The token was created through the Sollet custodial bridge, which was a popular tool in the early days of the Solana network. When users deposited native Bitcoin into the Sollet bridge, an equivalent amount of soBTC was minted on Solana. This process relied on a central custodian to hold the actual Bitcoin in reserve, ensuring that every soBTC token was supposedly backed one-to-one by real Bitcoin. Historically, the custodial functions for soBTC were managed by entities closely associated with the FTX cryptocurrency exchange and Alameda Research. These organizations were responsible for maintaining the Bitcoin reserves that gave the wrapped token its value. Because the system was custodial rather than decentralized, users had to trust that the bridge operators were safely holding the underlying assets. The status of soBTC changed significantly following the collapse of FTX and Alameda Research in late 2022. During the bankruptcy proceedings of these entities, it was revealed that the Bitcoin reserves intended to back the Sollet-wrapped assets were no longer accessible or were not fully accounted for. As a result, the bridge effectively stopped functioning, and the ability for holders to redeem their soBTC for native Bitcoin was lost. Since the collapse, soBTC has been widely regarded as an unbacked or "broken" asset. While the tokens still exist on the Solana blockchain and can occasionally be found on decentralized exchanges, they no longer maintain a one-to-one relationship with the value of Bitcoin. The project serves as a significant example of the custodial risks associated with centralized bridge solutions in the Web3 space. Most Solana-based protocols and users have since migrated to alternative, more transparent wrapping solutions that do not rely on the defunct Sollet infrastructure. Learn more
Is Wrapped Bitcoin (Sollet) (SOBTC) a good investment?
Whether Wrapped Bitcoin (Sollet) (SOBTC) is a good investment depends on your personal financial situation and risk tolerance. Cryptocurrency investments are speculative and can be highly volatile.
Before investing in Wrapped Bitcoin (Sollet) (SOBTC) or any cryptocurrency, consider the following:
Your financial goals
Are you seeking short-term gains or long-term growth?
Your risk tolerance
How much potential loss are you comfortable with?
Diversification
Don’t put all your eggs in one basket. Spread your investments across different types of assets.
Your goals and time horizon
Cryptocurrencies are best suited for long-term investors. Disclaimer: This is not financial advice. Please do thorough research before making any investment decisions.
Fees, limits, and processing time for buying SOBTC on LBank
Compare fees, transaction limits, and estimated processing times across different payment methods. Actual fees and availability may vary by region, fiat currency, payment method, and third-party providers. Please refer to the order page for final details.
ROI calculator
If I invest, how much profit will I make?
Invest
$
Enter
SOBTCDate
2026-06-07
You will earn $-- in profit, with an ROI of --
What can you do with Wrapped Bitcoin (Sollet) (SOBTC)?
Investment
Buy and hold Wrapped Bitcoin (Sollet) (SOBTC), expecting its value to increase over time.
Trade
Actively trade Wrapped Bitcoin (Sollet) (SOBTC) on LBank to profit from price fluctuations.
Pay
Use Wrapped Bitcoin (Sollet) (SOBTC) to pay for goods and services where accepted.
Why is LBank the best platform to buy Wrapped Bitcoin (Sollet) (SOBTC)?
User-friendly interface
LBank offers a simple and intuitive platform for buying and selling Wrapped Bitcoin (Sollet) (SOBTC).
Competitive fees
LBank provides competitive trading fees for Wrapped Bitcoin (Sollet) (SOBTC).
Secure platform
LBank applies robust security measures to protect your funds.
Diverse trading pairs
LBank offers a wide range of trading pairs for Wrapped Bitcoin (Sollet) (SOBTC).
24/7 customer support
LBank provides customer support to help you with any questions or issues.
Mobile app
Trade Wrapped Bitcoin (Sollet) (SOBTC) anytime, anywhere using the LBank mobile app.
High liquidity
LBank offers excellent liquidity for Wrapped Bitcoin (Sollet) (SOBTC) trading, ensuring you can easily buy and sell your crypto assets.
Regulatory compliance
LBank complies with all regulatory requirements in the jurisdictions where it operates to ensure a compliant and secure trading environment
After buying SOBTC, what is the best way to store it?
After buying SOBTC, you can choose a storage method based on your usage frequency, holding period, and security needs. If you need to trade at any time, you can store it in your LBank account. If you prioritize self-custody or long-term security, consider using a personal wallet or a hardware wallet.
Store in your LBank account
Suitable for
Users who want to trade or convert at any time
Short-term BTC holders
Features
Ready to use immediately after purchase; easier to use
Ideal for frequent trading, conversions, or using platform features
Security Alert
Please enable 2FA
Please set an anti-phishing code
Only log in through official channels
Transfer to a personal hot wallet
Suitable for
Users who want to manage their own assets
Users who need daily transfers or on-chain usage
Features
More flexible; convenient for daily transfers and management
Better suited for small holdings and everyday use
Security Alert
Do not store seed phrases or private keys in the cloud
Do not save sensitive information via chat tools, email, or screenshots
Stay alert for phishing websites and fake wallet apps
Transfer to a hardware wallet
Suitable for
Long-term BTC holders
High-value holders who prioritize security
Features
Private keys are stored offline, offering enhanced security
Ideal for long-term storage of infrequently moved assets
Security Alert
Securely back up seed phrases offline
Never disclose your recovery phrase to anyone
Assets may be irrecoverable if the seed phrase is lost
Wrapped Bitcoin (Sollet) (SOBTC) FAQ
The token is currently de-pegged because it is no longer backed 1:1 by real Bitcoin. Unlike healthy wrapped assets, the reserves for this token were held by entities that have since entered bankruptcy. Because those reserves are no longer accessible or have been depleted, the token is considered an unbacked legacy asset.
A return to the value of native Bitcoin is highly unlikely. For the token to regain its peg, a custodian would need to provide a massive amount of Bitcoin to re-back the existing supply. There is currently no expectation for this to occur, and the token is primarily viewed as a speculative claim related to legal proceedings.
No. The original bridge and the associated redemption portals are defunct. There is no active mechanism to burn these tokens in exchange for native Bitcoin. The assets that once backed these tokens are currently frozen or part of a bankruptcy estate, meaning the standard redemption process is permanently unavailable.
This is a complex legal issue. While users of the defunct exchange have direct claims, those holding tokens in private wallets are in a more uncertain position. Holders may need to demonstrate that their tokens represent a specific liability of the estate. Various community groups have formed on social media to monitor legal updates and advocate for on-chain holders.
Security experts generally recommend against burning or deleting the tokens. Even if the current utility is minimal, the tokens serve as proof of holding. This proof could be necessary if a future legal settlement or distribution plan is established for on-chain holders. While some decentralized trading protocols still allow for swaps, the available liquidity is extremely limited.
To identify the defunct token, you should check the mint address using a blockchain explorer. The address for this specific legacy token begins with a unique string of characters. In contrast, secure and fully-backed versions of Bitcoin on the network are issued through reputable custodians or transparent cross-chain bridge solutions. Always verify the contract address before performing any transactions.
