With a lot of people (especially in poorer countries) being priced out of the Ethereum Network due to the expensive fees — finally, Ethereum layer-2 protocols like Arbitrum now have a good amount of platforms built on it and a good amount of adoption.
And fortunately, a slowly but surely increasing list of centralized cryptocurrency exchanges has been rolling out Arbitrum support as well! People are now able to deposit and withdraw ETH and ERC-20 tokens with far cheaper fees via the Arbitrum network!
What is Arbitrum? 🤔
Built and started by OffChain Labs with the goal of having a layer-2 network with far cheaper fees than the main Ethereum network, Arbitrum has been one of the most anticipated layer-2 scaling solutions on Ethereum for the past few years.
Along with Optimism, it is now one of the biggest and most used Ethereum layer-2 networks.
Exchanges that support Arbitrum deposits & withdrawals ✨
FTX
Website: ftx.com
Implementation date: February 8, 2022
Binance
Website: binance.com
Implementation date: November 19, 2021
KuCoin
Website: kucoin.com
Implementation date: April 13, 2022
Crypto.com
Website: crypto.com
Implementation date: October 18, 2021
OKX (OKEx)
Website: okx.com
Implementation date: February 14, 2022
Huobi
Website: huobi.com
Implementation date: December 25, 2021
Adding the Arbitrum Network on MetaMask 🦊
- Head over to Chainlist.org
- Look up “Arbitrum One” on the search bar
- Click on the Connect Wallet button, then click on the Add to MetaMask button
You now have the Arbitrum Network on MetaMask. You can switch networks on MetaMask using the dropdown button at the top of the plugin popup.