Bitso is excited to announce the addition of ARB, Arbitrum’s native token, to its platform. This addition represents an important step in Bitso’s evolution and provides our community with exciting new opportunities in the world of cryptocurrencies.
What is ARB and why is it relevant?
ARB is the native token of Arbitrum, a Layer 2 network built on top of Ethereum. As is well known, Ethereum is the leading blockchain in the cryptosphere, but it faces challenges such as high transaction fees and network congestion. This is where Arbitrum comes into play. This Layer 2 network, which we already support at Bitso, is designed to significantly improve Ethereum’s scalability and efficiency, enabling faster and cheaper transactions.
What can be done with ARB?
ARB is not just a token, it is a gateway to a vibrant ecosystem of applications and services built on top of Arbitrum. These are some of the features of ARB.
- ARB is the native ERC-20 governance token for the Arbitrum blockchain, designed to enhance Ethereum’s scalability solutions.
- Those who hold ARB tokens can transfer value, vote on governance decisions, and participate in the Arbitrum ecosystem.
- The initial supply of ARB tokens is 10 billion, with a maximum annual inflation rate of 2% (there are currently 1.275 billion ARBs in circulation).
- The ARB token is used to make governance decisions, such as the allocation of funds and technical changes.
- ARB token holders can also vote to elect members of the Security Council, a team in charge of the Arbitrum treasury wallet.
Arbitrum: beyond Ethereum
It is important to note that ARB is supported on the Arbitrum network, not the Ethereum Mainnet. This means that users can enjoy all the benefits of Ethereum without having to deal with high transaction fees and network congestion.
How to get ARB?
It’s easy, just follow these steps 😉
- Open your Bitso App and in your Wallet, click on “Buy/Sell.”
- Select the currency you want to exchange.
- Choose the currency you want to acquire (in this case, $ARB).
- Pick the amount of money you want to use to exchange for your ARB token.
- Click on “Continue” and make sure the transaction details are correct.
- Finally, click on “Confirm,” and you’re done! You now have ARB in your Bitso account.
Do your own research (DYOR)
Bitso is proud to announce the inclusion of ARB on its platform. This marks a significant milestone in our mission to provide our users with access to the most innovative and exciting cryptocurrencies on the market. However, we remind our users that this article is for informational purposes only and does not constitute investment advice. It is always important to do your own research before making financial decisions.
Welcome to the Arbitrum and ARB revolution at Bitso! We are delighted to be part of this exciting journey together with our users.