What is Arbitrum?
Designed by development team Offchain Labs, Arbitrum is a Layer 2 scaling solution for Ethereum by adopting the multi-round interactive Optimistic Rollup.
Arbitrum has attracted wide attention in communities since the launch of its testnet in May 2021. Aave, Uniswap, Curve, MakerDAO, SushiSwap, CREAM, dForce, DODO, and other DeFi projects have been integrated into the Arbitrum ecosystem.
Update to the latest version of imToken now to enjoy the diverse ecosystem of the Arbitrum wallet.
Click here for more about Arbitrum.
Create an Arbitrum account
Click "My Profile" - "Manage Wallets" - "Add", check the “Arbitrum” and confirm, return to the wallet homepage to enter the newly created Arbitrum account.
Transferring and Receiving Tokens
Click on the token you want to transfer on the account homepage to enter the payment and transfer page to perform the corresponding operations.
At present, most exchanges including Binance, FTX, OKX have supported the deposit and withdrawal of tokens on the Arbitrum network.
Transferring Tokens
Click "Transfer", set the type and amount of token you want to transfer, enter the receiver’s address, and then click "Next".
Notice:
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Please make sure you have sufficient ETH in your wallet to pay Gas fee.
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Please choose the Arbitrum network in the exchange, if you want to transfer from your Arbitrum wallet to it.
Receiving Tokens
Click “Receive” then you can share your QR code or wallet address on the page to receive tokens from others.
Note: you should choose the Arbitrum network if you want to withdraw from the exchange to your Arbitrum wallet. Alternatively, you can withdraw from exchanges to imToken faster and cheaper through LayerSwap.
Depositing and Withdrawing through Bridges
Bridges allow you to deposit and withdraw between the Ethereum mainnet and the Arbitrum network. imToken supports multiple cross-chain bridge solutions, here is an example of Arbitrum official bridge.
Depositing
1. On the Arbitrum account's homepage, swipe the function bar to the left, click on "Bridge" and select the Arbitrum official bridge. Once opened, click "WalletConnect" and then "Approve" to connect your wallet.
2. After entering the Arbitrum official bridge page, select the network you want to perform the cross-chain transfer. Here, we'll use the example of transferring ETH from Ethereum to Arbitrum. In the Mainnet box, set the amount of ETH, and then click "Move funds to Arbitrum One" followed by "Approve" to switch your wallet to the Ethereum network. Click "Sign" to initiate the transaction.
Withdrawing
In this example, we'll use the case of transferring ETH from the Arbitrum network to the Ethereum network. In the Arbitrum One box, set the amount for the cross-chain transfer, click "Move funds to Arbitrum One," select "Use Arbitrum’s bridge," check the key points to note, and then click "Continue" and "Sign" to initiate the transaction.
You have two options when selecting the bridge. Both of them allow you to send tokens from your Arbitrum wallet to your ETH wallet.
- Using a third-party bridge: It offers faster withdrawal speeds and estimates withdrawal fees in advance on the withdrawal page. However, the supported token types are limited.
- Using Arbitrum’s bridge: Withdrawals via the Arbitrum official bridge require an 8-day waiting period. After 8 days, you need to switch to your ETH wallet, access the Arbitrum official bridge again, initiate a withdrawal transaction, and pay additional gas fees.
imToken also supports Hop.Exchange and cBridge, please refer to the following tutorials for detailed instructions:
Note: Hop.Exchange and cBridge also support you to transfer tokens between Arbitrum, Optimism, BSC, Polygon and other networks.
Experiencing DApps in the Arbitrum Network
Click “DApp” on the wallet page then you can see the most popular DApps in the Arbitrum ecosystem.
Now you can experience the DApps that you are interested in.
End
For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also allows users to use Arbitrum and supports the Layer2 ecosystem.
Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Digital asset investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.