renBTC and WBTC are wrapped BTC. This means that a ERC20 representative token is minted for use on the Etherium network and DEFI. The BTC is held in custody until the token is eventually redeemed.
I created custom wallets to represent these services (REN VM & WBTC Cafe). The problem is that the outgoing tokens from the services always have issues with “missing purchase history”.
I do not believe that these tokens represent a “sale” as they are custodial and return your BTC on redemption of the token - so they are more like a loan.
Is there a correct way of dealing with this or a workaround for this issue? Or am I doing something incorrectly?