Wrapped Ether (WETH) is used to make an offer to buy an NFT or bid on an auctioned NFT.
WETH is a form of cryptocurrency that allows users to make pre-authorized bids that can be fulfilled at a later date without any further action from the bidder. WETH is minted when a user sends ETH to the WETH smart contract. The smart contract holds the ETH sent by users and mints an equivalent amount of WETH. OpenSea does not mint WETH or exchange ETH for WETH, and OpenSea does not operate or control the WETH smart contract.
This guide explains:
- How to convert ETH for WETH
- How to add WETH as a token in your MetaMask wallet
Converting ETH to WETH
You can follow these steps to convert ETH into WETH:
1. Navigate to the top-right corner of OpenSea and click the Wallet icon.
2. Click the three-dot menu for Ethereum and select Wrap.
3. In the pop-up window, enter how much ETH you'd like to convert to WETH.
4. Click Wrap ETH to call the WETH smart contract to perform the WETH conversion.
5. A MetaMask window will appear, asking you to sign the transaction.
6. Once the wrap is complete, you'll see the following message:
Following a successful conversion, WETH will appear in the wallet portion of your OpenSea account. You'll be able to clearly see the difference between WETH and ETH, as WETH has a pink Ethereum diamond logo.
During the bidding process, you'll also be able to add more WETH to your wallet by clicking Convert ETH.
Adding WETH to your wallet (MetaMask)
WETH may not appear by default on your MetaMask. To add WETH, click on the MetaMask extension and click the Add Token button.
Type WETH into the Add Tokens search box. You should see Wrapped Ether (WETH) show up as an option.
After confirming, you should see WETH appear in your item list on the MetaMask extension.
