How to Unwrap WETH on Uniswap, OpenSea, and MetaMask

How to Unwrap WETH on Uniswap, OpenSea, and MetaMask

Cryptocurrencies DeFi
by Sebastián Villafuerte
70
Have you ever heard of WETH? Or maybe you're scratching your head, wondering how to unwrap WETH... in either case, this token is complex on its own.
MetaMask, OpenSea and Uniswap unwrapping an ETH

ETH is not directly compatible with ERC-20 tokens or Ethereum-based tokens. This is why if you want to trade ETH with ERC-20 tokens, you’ll have to wrap your ETH

There are many reasons why people wrap their ETH or vice-versa, including (and not limited to), trading ERC-20 cryptocurrencies, buying NFTs that only support the ERC-20 technical standard, or making transactions through integrated DApps.

If you’re wondering how to unwrap WETH, head over to a decentralized exchange built on Ethereum, where your WETH can be unwrapped. It’s as simple as that. 

You can also do it in OpenSea or directly in your MetaMask wallet. So if you want more information about the asset and how to unwrap WETH, keep on reading.

What’s WETH?

WETH is the bridged version of ETH created to support ERC-20 token standards. As I’ve said, people use this wrapped version of ETH to interact with assets and DApps that ETH can’t normally interact with. 

ETH was created before the ERC-20 standard came into existence; hence, ETH simply can’t trade with other ERC-20 tokens because the token standard isn’t coded within the native cryptocurrency. Instead, ETH is coded in a way that it requires a ‘bridge‘ to connect with other digital assets.

Is WETH the same as ETH?

WETH and ETH have the same value, but there’s a key difference.

ETH is the native cryptocurrency of the Ethereum blockchain. WETH is also a token built on Ethereum, with the main difference being that WETH is used to provide interoperability to ETH users.

Every time you convert ETH to WETH, this is what occurs:

  1. A smart contract creates WETH backed by the amount of ETH you converted. 
  2. The smart contract structures your WETH to meet ERC-20 requirements. 

So even though they are worth the same (1 ETH = 1 WETH), they have different utilities. ETH is used mainly as a stored cryptocurrency, like BTC, whereas WETH is used to interact with the metaverse.

Can you convert wrapped ETH to ETH?

Once you have your WETH you can convert it to ETH again. To unwrap your WETH you just have to go to a decentralized exchange, link a wallet holding your WETH, and convert your wrapped ETH to ETH.

You can go to a decentralized exchange to convert your WETH to ETH but you can also do it in your MetaMask wallet or on the OpenSea website platform.

Would you like to learn how to convert your WETH to ETH and which platforms support the conversion? Please keep reading, you’ll find some answers ahead.

Converting WETH to ETH

Thankfully, it’s a relatively straightforward process to convert WETH to ETH. If you want to follow suit, you just need to hold your WETH in an Ethereum wallet like MetaMask and decide which platform (DApp or DEX) you will use to unwrap your WETH.

Now let’s get into the bit we’re excited about: how to unwrap WETH on different platforms. First, it’s essential to take note that the process of wrapping and unwrapping is the same—you just have to select which asset you are converting.

How to unwrap WETH in MetaMask

How to unwrap WETH on MetaMask
Wrapping ETH in MetaMask. For unwrapping WETH, it’s vice-versa.

It’s, without a doubt, the easiest way to convert your tokens. Just follow these steps, and you’ll be all set:

  1. Open your MetaMask wallet
  2. Click on the ‘Swap’ option
  3. Select WETH on top and ETH on the bottom to unwrap your ETH
  4. Select the amount of WETH you want to unwrap
  5. Click on ‘Swap’ and verify the fees
  6. Receive your unwrapped ETH in your wallet

How to unwrap WETH on Uniswap

Unwrapping your WETH is also possible if you connect your MetaMask wallet to a DEX with ERC-20 asset integration. Although, it’s definitely an extra step compared to doing it in your MetaMask wallet.

Uniswap is one of the most reliable decentralized crypto-trading protocols built on Ethereum. Read the following steps if you want to learn how to unwrap WETH in Uniswap:

  1. Go to the Uniswap website and click on ‘Launch App’
  2. Connect your wallet holding WETH
  3. Set WETH on top and ETH at the bottom of the conversion tool if you want to unwrap WETH
  4. Select the amount of WETH you want to unwrap
  5. Click ‘unwrap’ and confirm your fees and transaction price
  6. Your ETH will appear in your wallet

How to unwrap WETH on OpenSea

You can also unwrap WETH on OpenSea, but it’s practically the same as doing it within Uniswap’s protocol. 

This is because the NFT marketplace doesn’t control the smart contract that mints or burns your WETH—they just provide a service to convert coins in your OpenSea account through Uniswap.

If you’re intrigued about this approach, keep on reading:

  1. Go to the OpenSea website and click on your Wallet icon in the upper right
  2. Select the wallet that holds the WETH you want to unwrap
  3. Click on the three dots menu next to your tokens and select ‘Wrap’
  4. Enter how much WETH you want to unwrap
  5. Click on ‘Unwrap,’ and a window will pop up asking you to sign the transaction and confirm gas fees
  6. Once the unwrapping is confirmed, you will have your ETH in your wallet

How to wrap ETH

The process of unwrapping and wrapping is the same on each platform mentioned above. You just have to follow the same steps but switch up the tokens you’re converting. So instead of converting WETH to ETH, you’ll have to trade ETH for WETH.

Therefore, because you want to wrap ETH, you should set ETH at the top of the conversion tool and WETH at the bottom. One thing—be careful where you place the token you want to convert.

Summary

Wondering how to unwrap WETH? Hop into a decentralized exchange like Uniswap, an NFT marketplace like OpenSea, or do it directly in your MetaMask wallet.

Depending on what you find most accessible in your situation, you should choose the method that best suits your needs.

For example, maybe you want to buy NFTs on Opensea, but you need to wrap your ETH before a transaction. Or maybe your friend sent you WETH through MetaMask… you get my point.