In this article, we show you how to add Arbitrum to the MetaMask wallet. First, we talk a bit about what Arbitrum is and what it does, etc. If you do not want to read about that and instantly want to see how to add Arbitrum to MetaMask. You can go down this page and start reading “Getting Arbitrum on MetaMask”.
Arbitrum is an Optimistic Rollup solution, which means that state changes are published with minimal inspection by letting a validator post a rollup block that is claimed as correct, and then giving everyone else a chance to challenge that claim allows for faster transaction speeds. Blocks are then rolled up to the main Ethereum chain.
To use the Arbitrum blockchain, you’ll need a compatible crypto wallet like MetaMask. However, MetaMask doesn’t automatically have Arbitrum added as a default blockchain. Setting up your wallet to connect to Arbitrum is a simple process and can be done quickly.
What is an Arbitrum?
Arbitrum is a network of Proof-of-Stake (PoS) blockchains, allowing users and developers alike to interact with blockchain tools at an unprecedented level. Arbitrum is designed to be more user-friendly, more agile, and more scalable than anything on the market. Each chain within Arbitrum is identical to every other chain at its core.
Yet it contains all of its own addresses and tokens, meaning that each chain can function independently from every other chain. This allows for Arbitrum chains to act as their own unique public ledger while also enabling cross-chain interactions between different blockchains – whether Arbitrum or otherwise – without requiring an intermediary. This means you can use Arbitrum chains as a secure multipurpose platform for nearly any need.
Arbitrum is one such scaling solution, and it’s become a popular venue for Ethereum users to complete their transactions. Abritrum is cheap and quick to use, and relays all transaction information back to the main Ethereum blockchain. While Ethereum manages a mere 14 transactions per second, Arbitrum races ahead at 40,000 TPS.
Transactions cost several dollars to complete on Ethereum, while they cost about two cents on Arbitrum. And Arbitrum also supports the Ethereum Virtual Machine (EVM), meaning that Ethereum DeFi developers can integrate their decentralized applications (dapps) with Arbitrum without having to make any modifications.
What is a Metamask?
As you may have noticed, we’ve used a new term above—Metamask. For those who don’t know, Metamask is an Ethereum Browser that is available as an extension for Google Chrome and Mozilla Firefox web browsers. It allows anyone with an Internet connection to deploy smart contracts and decentralized applications (DApps) without running a full Ethereum node. This is particularly useful for users who want to access their wallet from anywhere, but don’t have easy access to a PC with a full node installed. By connecting your computer directly to Ethereum instead of through a browser extension or mobile application, you will get better security and performance when accessing DApps.
MetaMask allows users to store and manage account keys, broadcast transactions, send and receive Ethereum-based cryptocurrencies and tokens, and securely connect to decentralized applications through a compatible web browser or the mobile app’s built-in browser. Developers achieve a connection between Metamask and their decentralized applications by using a JavaScript plugin such as Web3js or Ethers to define interactions between Metamask and Smart Contracts.
MetaMask is a crypto wallet that connects by default to the Ethereum mainnet. You can find the extension and mobile app on the official MetaMask website. Adding new blockchains to MetaMask is a transferable skill, and you can apply the skill to add other EVM networks like BNB Smart Chain (formerly Binance Smart Chain) and Polygon.
What is Ethereum?
Ethereum is a blockchain with a built-in cryptocurrency, Ether. The network launched in 2015 and grew rapidly, reaching a market cap of $137 billion. It also generated huge amounts of interest—around $16 billion dollars was invested into initial coin offerings (ICOs) on Ethereum. Ethereum allows you to build decentralized applications (DApps), similar to how websites can be built with HTML and JavaScript. Using Ethereum, DApps can run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. The best part? Anyone can build them.
Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Smart contracts allow participants to transact with each other without a trusted central authority.
Ethereum was first described in late 2013 in a white paper by Vitalik Buterin
Ethereum was at first described in late 2013 in a white paper by Vitalik Buterin, a developer and prime supporter of Bitcoin Magazine, that portrayed a method for building decentralized applications. Buterin contended to the bitcoin center engineers that Bitcoin and blockchain innovation could profit from different applications other than cash and that it required a more strong language for application advancement that could prompt the joining of genuine resources, like stocks and property, to the blockchain.
In 2013, Buterin momentarily worked with eToro CEO Yoni Assia on the Colored Coins project and drafted its white paper framing extra use cases for blockchain innovation. In any case, subsequent to neglecting to acquire settlement on how the venture ought to continue, he proposed the improvement of another stage with a more vigorous prearranging language — a Turing-complete programming language that would ultimately become Ethereum.
How to Add Arbitrum to Metamask in 5 Easy Steps!
It’s not hard to add Arbitrum tokens to Metamask, and there are several great websites out there with easy-to-follow instructions on how to do so. But if you want to know the best ways to add Arbitrum to your Metamask account, we’ve got you covered in this guide! Follow these five steps and you’ll be adding Arbitrum tokens to your MetaMask account in no time!
1) Install Metamask
How do I install Metamask?
Then follow these steps:
- MetaMask is available for Chrome, iOS, or Android on the MetaMask website. Make sure to check you’re using the official website and downloading the legitimate extension.
- After installing the extension, you’ll see the MetaMask welcome page. Click [Get Started] to begin.
- If you want a new wallet, click the [Create a Wallet] button. You can also import an existing wallet with its seed phrase using the [Import wallet] option.
- If you’d like to share anonymous usage data with Metamask, you can do so at this stage. Accepting or refusing this will not affect your wallet usage.
- Create a secure password for your wallet. Note this isn’t your seed phrase. The password simply prevents people from accessing your wallet through your device. If you forget your password, you can always retrieve your crypto with your seed phrase.
- After choosing your password, MetaMask will provide some useful information regarding your wallet’s seed phrase. Read through it carefully if you’re not familiar with how crypto wallets work.
- You’ll now see with your seed phrase. Click the lock to view the phrase and take note of the words in the correct order. Store the phrase securely (preferably offline) and never share it with anyone. This string of words is the final backup of your wallet’s contents. Click [Next] to continue.
- You’ll need to repeat your seed phrase by selecting the words in the correct order. Click [Confirm] once finished.
- Your MetaMask wallet will now be ready to use. Click [All Done] to view your new wallet.
- You can pin Metamask to your Chrome browser by clicking the puzzle icon and selecting it. MetaMask will initially only be connected to Ethereum. Next, we’ll look at how to connect Metamask to Arbitrum.
2) Install the Cipher Browser Plugin
Cipher is a blockchain browser that allows you to interact with the blockchain without having MetaMask installed. It’s an Electron-based application, so it runs on macOS, Windows, and Linux. To add Cipher as a plugin for your Cipher browser, open the Cipher app then click on the hamburger menu on the top left. Then click on Plugins and check off Install from the repository. A window will pop up and you should click on Add plugin from the URL which is near the bottom of the page.
3) Send Ethereum from Coinbase to your MetaMask Wallet
Now that you have created your MetaMask wallet, you can now transfer Ethereum to your wallet using Coinbase. In order to do so, navigate to the Accounts page on Coinbase and locate Ethereum under Your Accounts. Click Send next to Ethereum and add your destination address from MetaMask: Open your MetaMask extension and enter/confirm your password (if it asks). A pop-up should appear that lets you choose how much Ether you want to send from Coinbase. Enter that amount and click Submit. Your Ether should be transferred over instantly after clicking submit.
4) Buy ETH on Radar Relay with US Dollars or Ether
How do I buy ETH on Radar Relay with US Dollars or Ether? MetaMask is an extension for your browser that allows you to run Ethereum dApps right in your browser without running a full Ethereum node. Its main feature is a secure identity vault, which enables you to sign transactions and interact with DApps without revealing your Private Key. Aside from that, it also serves as an Ethereum wallet so you can receive, store and send Ether (ETH) as well as ERC-20 tokens. It also gives you access to decentralized exchanges such as Radar Relay where you can trade ETH for any token listed there.
5) Buy ARB on Bancor Network with ETH
Bancor Network is a decentralized exchange for ERC20 tokens. All transactions are done via smart contracts, so no user data is being stored on a centralized server. The platform supports instant and direct conversion of any pair of tokens through continuous trading between sellers and buyers from all around the world. Here’s how you can buy ARB on Bancor Network with ETH and send them to your Metamask wallet using MetaMask.
Conclusion
If you’re adding multiple tokens, make sure you only add tokens that are compatible with MetaMask. Even though Arb is supported by MyEtherWallet, I didn’t want to take any chances. Plus, it’s a good idea to only have 1 or 2 token wallets for security purposes.
If things go wrong and your tokens disappear or get hacked, having just one or two is much safer than having multiple token wallets on a single device. As always, be careful with your assets, and don’t let your guard down while investing online! To learn more about how MetaMask works and where you can download it today, click here. Cheers!
