How to Buy Arbitrum (ARB)

Detecting undervalued projects that have growth potential is important for successful investment in cryptocurrencies. One of these projects is Arbitrum (ARB), an Ethereum scaling solution that could make a revolution in the world of decentralized applications (dApps).

Read also: New cryptocurrencies.

What is Arbitrum (ARB)?

Growing interest in decentralized applications is putting pressure on the Ethereum network, and the result is longer transaction times and high gas fees. The Arbitrum project was created by the New York-based Offchain Labs to improve the scalability of Ethereum. By processing transactions on another network and mass transferring them back to Ethereum, Arbitrum aims to make transactions more accessible and faster. At the same time, transaction processing costs are also reduced.

ARB is Arbitrum’s platform control token. ARB holders can vote on proposals to upgrade the protocol, changing of transaction fees, and make other decisions that affect the future of the platform. In addition, holders can stake their ARBs to earn rewards and use them to pay transaction fees and in other services on the platform.

Where to buy Arbitrum (ARB)?

Arbitrum can be purchased on major centralized exchanges such as Coinbase, Binance, OKX, Kucoin, ByBit and decentralized platforms like Uniswap.

Read also: Cryptocurrency exchanges.

Arbitrum step-by-step buying guide

To buy Arbitrum (ARB) follow the instructions below:

1. Assess the personal level of risk

In order not to lose all the money, you should be aware of the volatility of the cryptocurrency market and take into account the following rules:

• Invest only your own funds that you can afford to lose;
• Diversify risks by creating an investment portfolio of different cryptocurrencies;
• Do not buy coins with your last money, which are needed to your daily living needs.

2. Choose a crypto exchange

Cryptocurrency exchanges differ in verification requirements, security, liquidity, commissions, buying cryptocurrency options, etc.

Let’s see how to buy ARB using the example of a crypto exchange Bybit.

3. Create your account

After choosing an exchange, you need to create an account. To register on Bybit, follow these steps:

1. Go to the official Bybit website and click Sign Up in the top right corner of exchange’s homepage;
   

   

2. Sign up with email or phone number, create a strong password, click Create Account;
   

   

3. To confirm registration, copy the code received by e-mail and paste it into the appropriate field on the site;
4. Registration is passed.

Bybit does not require a mandatory identity verification, but in order to gain access to all the features of the site and increase the withdrawal limits, you need to pass KYC Lv 1 or KYC Lv 2. As a rule, KYC means providing scans of identity documents (passport, driver's license, etc.) and a selfie.

4. Top up your account

Before you can start trading, you need to fund your account. For example, let’s top up deposit with USDT. Since most of the coins are traded with this stablecoin, including ARB.

Follow the short instructions:

1. Click Assets → Deposit;
   

   

2. Select USDT as a coin for topping up;
3. Specify network (for example, Arbitrum One). Networks on the exchange and in the wallet must match;
4. Copy the received address or scan the QR code;
   

   

5. Paste the copied address into the wallet from which you are transfering coins;
6. After the transfer is completed, check the receipt of coins on the exchange account.

5. Buy Arbitrum (ARB)

Let’s consider how to buy ARB on Bybit spot market:

1. Open the tab Trade → Spot Trading;
   

   

2. Enter ARB In the search bar and select the ARB/USDT trading pair;
   

   

3. Select the order type (for example, Market) on the right side of the terminal, and enter the USDT amount you plan to spend on the purchase.
   

   

How to sell Arbitrum

To sell ARB instead of a buy order, fill in a sell order: select order type (for example, Market), ARB amount and click Sell ARB.

How to store Arbitrum (ARB)?

To protect digital assets from potential threats, you need to decide on a place to store them. The most secure storage options for ARB are hardware wallets.

Hardware wallets are physical devices that store your private keys offline for maximum security. These wallets are protected from online threats and considered the most secure way to store cryptocurrencies.

Ledger offers three options: Nano X, Nano S Plus and the latest version of Stax. No matter which wallet you choose, you can rest assured that your ARB and other digital assets are safe thanks to Ledger’s high security standards.

You can also choose a mobile wallet for storing ARB, like Trust Wallet.

Read also: Crypto wallets.

How to withdraw Arbitrum to my wallet?

Let’s see how to withdraw ARB from Bybit to Trust Wallet:

1. Open Assets → Withdraw in your Bybit personal account;
   

   

2. Click Spot;
   

   

3. Select ARB as the coin to withdraw and click Withdraw;
   

   

4. Specify network, amount of coins, wallet address where you will send coins in the next window;
   

   

5. To get the wallet address, open the app (we chose Trust Wallet) and click Add Tokens (if coin not is the list);
   

   

6. Enter the name of the coin in the search bar;
   

   

7. Click Receive;
   

   

8. Copy the address or scan the OR code and paste it into the appropriate field on the exchange, click Submit. Don’t forget to choose the same blockchain in the wallet as one on the exchange. If they are different, you will lose your coins.
   

   

FAQ

Agatha Redich

Articles author, editor

Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.

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Emil Rabin

Site expert

Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.

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