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My Question goes in the sense of what's possible in terms of creating a Dapp that allows to send/receive BitCoin just like it would any other given ERC20 Token. Is this possible to achieve for a Smart Contract in the Ethereum network? If not, I would like to know what would be the basic steps in the right direction, I believe there are some Wallets out there that can, right?

Kind Regards.

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The other answer is correct. You can’t do it the way you’re suggesting.

But there is such a thing as a bridge. For example ETC Relay (http://btcrelay.org) which allows you to lock bitcoin on the Bitcoin network, and then prove to the Ethereum network you’ve locked your bitcoin, and then use what appears to be a token on the Ethereum as much as you want until you burn that token in which case you could then recapture your bitcoin.

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There's BTCRelay where you can confirm Bitcoin transactions.

BTC Relay is a building block that allows Ethereum contracts to securely verify Bitcoin transactions without any intermediaries: in short users can pay with Bitcoin to use Ethereum DAPPs.

Currently is not used very much and it has fallen behind. It is updated since at least Feb-16-2018 10:12:01 PM +UTC.

The other way around, to send transaction to Bitcoin blockchain it a different problem that might need a modification of the Bitcoin software, which is very unlikely.

You can approach a solution similar to MakerDAI with a token pegged to bitcoin. But it is a complex solution.

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No, since Bitcoin isn't an ERC20 token, you can't use it like one. It has nothing to do with Ethereum at all except on an conceptual level.

Other wallets implement the bitcoin protocol just like they implement the ethereum protocol or the ERC20 standard which is a subset of Ethereum.

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