Introduction: Wrapped SOL (wSOL) is a wrapped version of the native Solana token (SOL). Wrapping tokens is a process that allows users to move tokens from one blockchain to another. In this breakdown, we look at how we can convert wrapped SOL tokens back to native SOL tokens.
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The process of converting wrapped SOL to regular SOL is quite simple. You can use a wallet like the Phantom Wallet to convert your wrapped SOL tokens to regular SOL.
Simply open your Phantom Wallet, click on wrapped SOL then click the 3 buttons in the top right corner and select “Unwrap all”. For a tiny fee, your wrapped SOL tokens will be visible in your wallet as regular SOL.
A wrapped token is pegged to the underlying value of the asset they are meant to represent. The original asset is locked in a digital vault and the wrapped asset can be used to transact on other platforms.
For instance, if you have SOL on the Solana network but need to use it on Ethereum, you can wrap it into wSOL and transact with it on the Ethereum network.
This process allows users to take advantage of interoperability between blockchains while still using their native assets.
While Wrapped SOL and native SOL have the same value (in most conditions), they are not the same as they have different technical abilities.
Wrapped SOL tokens are a representation of SOL tokens on the Ethereum blockchain and designed to allow SOL tokens to be used in the Ethereum DeFi ecosystem.
Native SOL tokens only exist on the Solana blockchain and are not compatible with the Ethereum blockchain.
If you have wrapped SOL tokens that you would like to convert to regular SOL, you can do so easily with a Phantom Wallet.
Just open your Phantom Wallet, click on the "Wrapped SOL" tab, and then click the 3 buttons in the top right corner and select the "Unwrap All" option.
With a small fee, your wrapped SOL tokens will be transformed into regular SOL and visible in your wallet.
No, Wrapped Solana (W-SOL) is not supported by Coinbase. But as shown above, you can easily unwrap your Wrapped SOL with Phantom Wallet and then send your native SOL to Coinbase.
+300 cryptos & Staking
Fast & Free Bank Deposits
Regulated: US, CA, EU, UK, AU
100% Proof Of Reserves
1780 Cryptos & Deep Liquidity
Spot/Perps/Copy Trading
Low Fees & 200X Leverage
KYC Not Required
