Reason behind that article is really simple. I want to show people don't familiar with second layers solutions - how to use it as simple as it can be done :) - so no one else would make any mistake on the process.
In this article I will show how to connect your metamask to new Arbitrum ONE network and how to transfer ETH from Ethereum to Arbitrum network and save on gas fees.
As always there is only one requirement - you need to have metamask installed and configured (mnemonics saved in safe places and you are able to restore it on 2nd browser - better check it to not regret later)
Add network to metamask
To add Arbitrum network simply go to one of a places:
- https://arbiscan.io/ - scroll site down to see footer and click Add Arbitrum Network
- https://chainlist.org/ - and search for Arbitrum One - chainID: 42161
1) First go to https://bridge.arbitrum.io - (if you have choosen different network than Ethereum mainnet you should see that - just change network to Ethereum mainnet and reload page):
2) It's time to connect your metamask account to the site below self explaining screens how to do so (choose account you would like to use and then hit Next and Connect buttons
3) After that done you should be able to see this site (I've marked input where you will need to put amount of ETH to be bridged between Ethereum and Arbitrum network - after doing that simply hit deposit button)
4) When amount provided and deposit button clicked you will see new transaction appear in table at bottom of page
5) After transaction succeed on Ethereum (1) network there will another transaction appear (2)
6) After a while (approx. ~10-20 minutes) second transaction on Arbitrum network will change status to success and that will mean you can use ETH on Arbitrum - mission accomplished
Cost of transfering ETH to Arbitrum depends on Ethereum network congestion -> GAS. I've made transfer (bridge) transaction on 1-st September 2021 around 3 pm UTC time and paid for it 0.0172863 ETH (~$64). After that done I've deposited my transfered ETH to staking and paid for it 0.00259202 ETH (~$10). For transfer between wallets/accounts GAS costs are around $3 in ETH. And both transactions was done in a seconds instead of minutes.
Hope that this article will bring some light on how to start using Arbitrum 2nd layer solution.
If you have any question don't hasitate to leave them in comment section.
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