WETH to PHP - Convert WETH to PHP

What is Wrapped Ethereum (WETH)?

In short words, it is a token that is pegged to the Ethereum (ETH). It is widely used by plenty of applications which support ERC-20 tokens within their system.

To make a WETH you need to wrap your original ETH. The unwrapping process is also needed if you want to convert it back. All of these actions are happening directly on the blockchain through smart contracts.

Due to the large Ethereum ecosystem, wrapped ether bring many different use cases, as for example, investing and staking. As WETH and ETH always have the same value there are no additional costs or fees for conversion.

How does WETH work?

All of the transactions on the Ethereum's blockchain are done through complex on-chain applications called smart contracts.

For each transaction that happens on the blockchain, a fee must be paid. Here is where the WETH comes in! The wrapped Ethereum is universally compatible across all smart contracts and decentralized apps (dApps).

The wrapped tokens are not unique to Ethereum only as there are plenty of such tokens on other blockchains – Wrapped BNB, Wrapped BTC, etc.

The total number of WETH holders until now, in 2022 is around 650,000. The total supply is capped at 1,153,917 tokens.

How to claim WETH?

To be able to claim WETH, you first need to have ETH. As the process of wrapping is happening on a publicly available smart contracts, you can do it on any platform that support the feature. The easiest and fastest way is by doing it directly on a wallet (Metamask as an example). The steps are pretty straightforward:

• Select the ETH in the first field
• Select WETH in the second field
• Click the 'Wrap' button

Once you are done, the wrapped Ethereum will show up on your wallet.

What is the highest price WETH has ever been?

In November 2021, Wrapped Ethereum exchange rate between 1 WETH and 276,850 PHP was the highest PHP price seen on most of the crypto tracking websites.

Is WETH a cryptocurrency?

Yes, WETH is a cryptocurrency which is a wrapped version of the original ETH. It is supported by most of the exchanges. You can trade it for USD, PHP, GBP and many other fiat currencies.

What is the best way to convert WETH coins to Philippine Peso?

We have listed our conversion tool at the beginning of our page. It is the most up to date and reliable calculator data found on the internet. You can also trade it on plenty of exchanges (Binance, Kucoin and others).