This indeed is a deep well to draw from, friend. At first glance, both WBTC and BBTC have their charms. The crux, however, lies within their respective wrapping mechanisms. WBTC operates under a consortium of organizations including BitGo as the custodian, while BBTC is tied directly to Binance's ecosystem.
As such, the safety of BBTC is intertwined with the fortunes of Binance itself. If there's an asset blockade or discrepancies in Binance's parity claims, BBTC's 1:1 parity could theoretically be in jeopardy. On the other hand, WBTC's distributed custodianship provides a level of decentralization that mitigates such risks. I would tip my cash towards WBTC for its greater degree of decentralization, but caution is always advisable. Remember, in the crypto world, one can never be too secure.
As such, the safety of BBTC is intertwined with the fortunes of Binance itself. If there's an asset blockade or discrepancies in Binance's parity claims, BBTC's 1:1 parity could theoretically be in jeopardy. On the other hand, WBTC's distributed custodianship provides a level of decentralization that mitigates such risks. I would tip my cash towards WBTC for its greater degree of decentralization, but caution is always advisable. Remember, in the crypto world, one can never be too secure.
Why would you do that if you can benefit from the security of the blockchain that Bitcoin offers you? The reasons for using WBTC are the same as the reasons for using centralized exchanges.
If we make a comparison between WBTC and BBTC, I agree with you completely, but the problem lies in where is the source blockchain for WBTC, if it is issued in BSC, then again you are at the mercy of Binance, and if Binance collapses, then almost the connection of WBTC will be affected, so in all cases WBTC is dangerous and BBTC is useless.
