How to deposit Tokens to Arbitrum
In the previous articles, we have grasped the idea of how Arbitrum can help us a lot in our daily use of DeFi. Today, we will learn the first step to use Arbitrum: How to deposit your tokens to Arbitrum.
Ethereum or any other ERC-20 Tokens can be brought from Layer 1 Ethereum to Layer 2 Arbitrum within 5 minutes without any hardship. The bridging process is a normal transaction on Ethereum, so it will apply a normal Ethereum gas fee. But this is a one time thing. After moving assets to Arbitrum, users can enjoy all the benefits Arbitrum brings.
Step 1: go to Arbitrum bridging dApp.
Open the Arbitrum Bridge and connect your wallet. You will see the list of supported wallets there. If you don’t have any of the shown wallets, please create one to be able to use on Arbitrum.
Note: Remember to choose Ethereum Mainnet for your wallet.
Step 2: Choose the assets you want to bridge and enter the desired amount.
After connecting your wallet, you should see the simple UI to help you choose the token you want to bridge and enter the amount of token. You can easily choose the wanted token, searching by their names, symbols, or addresses. When you are ready, just click the “Deposit” button.
Step 3: Confirm the transaction in your wallet.
As mentioned above, this is a normal Layer 1 Ethereum transaction, so you still have to pay the gas fee of Ethereum. However, this is a one time deposit. You will be able to enjoy Arbitrum's low gas fee after this is done.
Step 4: All Done.
After confirming the transaction in your wallet, you will see the Layer 2 balance within a few minutes. Your fund is now available on Arbitrum and ready to use!
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