Arbitrum was built by Off-chain Labs, which is considered as a layer two solution for Ethereum dApps. The Arbitrum bridge was designed to improve the limitations of the Ethereum network. It offers high-throughput and low-cost fees translations along with maintaining high-security standards. This article will explain how you can transfer your ETH/ERC-20 tokens with Arbitrum Bridge.
Step 1: Add the Arbitrum Network to your Metamask wallet #
You can visit http://bridge.arbitrum.op/ and click “Add/Switch to Arbitrum network” in the middle of the page, which will add the network automatically to your Metamask wallet.
You can also add the network manually by clicking on the metamask plugin, then click on ”Ethereum Mainnet” network, then click “Custom RPC” at the end of the menu and enter the following:
If you are a developer, you can also use Alchemy or Infura as a connection to the Arbitrum One network.
Step 2: Transfer ETH/ERC-20 Tokens from L1 to L2 #
Users can use the Arbitrum One to transfer Ethereum and other supporting ERC-20 tokens from the L1 to the L2 network. To use Arbitrum One (L2: Layer 2 network), you need to first bridge your assets from the main Ethereum network to Arbitrum One by visiting the bridging website at Arbitrum Bridge.
- Make sure you are connected to the Ethereum mainnet
- Select the token you want to bridge from the token drop-down menu
- Enter the number of ETH/tokens you want to bridge in the “L1″ field and click”deposit”. Follow the instructions on Metamask to confirm.
- After a transaction is submitted in Metamask, funds are transferred to Arbitrum One within approximately 10 minutes to 1 hour (depending on congestion).
Step 3: Withdraw from L2 to L1 #
To withdraw tokens from Arbitrum L2 network to L1 network, you need to set your Metamask wallet to Arb1 network. Then you need to enter the number of tokens you want to withdraw in the Withdraw field.
After you initiate the withdrawal, the transaction will be moved to a “pending state”, which it will take around one week before you can claim your funds on the L1 network.
Using Arbritrum Bridge to transfer tokens is not difficult. However, there is potential price risk which is that once your Ether or other ERC-20 token is bridged from L1 to L2 or L2 to L1, the value of the funds may change due to market fluctuation.