Bitso has once again taken a bold step towards revolutionizing speed and efficiency in the world of cryptocurrencies.
Having added the functionality to deposit and withdraw MATIC on the Polygon network, Bitso is now proud to present its latest innovation:
The implementation of ETH on Arbitrum’s network.
Time to say goodbye to long waiting times and high fees on the Ethereum network and welcome a much faster, more efficient and cheaper user experience.
What is Arbitrum? Why is it so exciting?
Arbitrum is what is known in the cryptocurrency world as a layer 2 solution, and its mission is to solve one of Ethereum’s biggest challenges: scalability. While Ethereum has proven to be a revolutionary platform for smart contracts and decentralized applications, its mainnet has suffered from congestion and exorbitant gas fees.
Arbitrum enters the scene to offer a solution that allows our users to enjoy faster and cheaper transactions without sacrificing security.
Think of Arbitrum as a data highway that takes the traffic pressure off Ethereum so you can pay a toll with small bills instead of spending big.😝
The difference between Ethereum y Arbitrum in action
In order to better establish the difference Arbitrum makes, here is a practical example:
Ethereum: imagine you want to send crypto to someone or make a swap on a decentralized exchange during a period of high demand. On Ethereum, this could take time due to congestion and high gas costs. This experience is far from ideal.
Arbitrum: now, with Arbitrum, the same transaction is done in the blink of an eye and at a much lower cost. This means you can move your funds quickly, take advantage of DeFi protocol opportunities, and manage your assets more efficiently.
Steps to use the Arbitrum network:
- Open your Bitso app and click on Ether (ETH).
- Click on the Deposit button with the downward arrow located at the bottom left of the screen.
- Select the Arbitrum network and copy the address with just one click.
- Paste your Arbitrum address on the platform where you will make the deposit.
- Enter the amount of ETH and send it to Bitso quickly and cheaply.😎
- Open your Bitso app and click on Ether (ETH)
- Click the Send button with the upward arrow located at the bottom right of the screen.
- Select the Arbitrum network and enter the amount of ETH you want to send over this network.
- Copy the address where you want to receive your ETH and paste it on our platform.
- Click Continue, and you’re done! Your ETH will reach any wallet or protocol that supports the Arbitrum network.😜
Bitso’s commitment to innovation
This Arbitrum implementation is the second round of innovation we added to Bitso after enabling MATIC deposits and withdrawals on the Polygon network. We are committed to continually improve our services and seek solutions that benefit our users.
Important disclaimer: this message is for informational purposes, it is not investment advice
We want to emphasize that this post is intended to inform and educate our community about our latest technological innovations. It should not be taken as investment advice. It is always important that you do your own research before making investment decisions.
At Bitso, our commitment is to provide our user community with the best tools and services to interact with the exciting world of cryptocurrencies safely and efficiently.
We hope you enjoy the speed and efficiency of Arbitrum on Bitso and join us in this exciting journey into the future of cryptocurrencies.