What is Arbitrum Bridge and How To Use It in 2024

TL;DR

• If you want to move crypto from Ethereum to Atrium, we recommend using Arbitrum Bridge as the cross-chain solution. Use it to bridge your ETH or ERC-20 tokens and get all the benefits of the low-cost Arbitrum ecosystem.
• Arbitrum Bridge supports chains such as Ethereum Mainnet, Arbitrum One, Arbitrum Nova, and many Web3 wallets. 

Arbitrum emerged as a layer 2 scaling solution to address Ethereum’s gas fees issues. With Arbitrum, the computation load shifted off-chain ensures fast and low-cost transactions.

We often have assets on one chain and try to transfer them to another without knowing how to do it. As we know that Arbitrum is a cost-effective chain (5-10x cheaper than Ethereum), we must reap the rewards. That’s where Arbitrum Bridge comes into play. 

In this article, we’ll explore everything around the Arbitrum Bridge. We’ll also guide you on how to bridge your tokens from Ethereum to Arbitrum. Let the games begin! 

What is Arbitrum Bridge?

Today’s variety of blockchains calls for a secure way of moving digital assets across the networks. Cross-chain bridges address this issue.

It enables us to move tokens from one chain to another securely. No need to rely on a centralized intermediary or hold balances on several blockchains anymore!

Regarding transferring assets from Ethereum to Arbitrum, or vice versa, Arbitrum Bridge is our trusted choice. After our experts test several bridges across multiple chains, this is the one we always go back to. 

Built by Offchain Labs, the developers of Arbitrum, it ensures seamless interaction between the two networks. 

How To Bridge Tokens with Arbitrum Bridge

Now, it’s time to see how bridging assets with Arbitrum Bridge works. I sent my ETH with a few clicks and received them on the destination chain in 20 minutes. Usually, it says it can take up to 30 minutes. Keep reading as we’ll guide you through the process.

Step 1: Connect Your Crypto Wallet 

Go to the official Arbitrum Bridge website and click the [Connect Wallet] button in the top right corner.

Then, link your wallet with the assets you want to bridge to the Arbitrum network. Make sure it is an Ethereum-compatible wallet like MetaMask or Trust Wallet.

If you don’t have a digital wallet yet, you can find more information in our best online wallet comparison. Once you do, you’ll need to add ETH or ERC-20 tokens of your choice.

Step 2: Fill In the Transfer Details

After having connected the wallet, you’ll see the bridge interface. Specify the chain to bridge assets from, the token, and the destination network (Arbitrum One or Arbitrum Nova). 

The screenshot below shows the inputs when I transferred ETH from Ethereum Mainnet to Arbitrum One:

Step 3: Confirm the Transaction 

Once transaction details are added, you’ll see the breakdown of gas fees in the [Summary] section.

Once you’re good with the transaction, click [Move funds to Arbitrum One] to initiate the transfer. 

Step 4: Approve the Transaction in Your Wallet

Your Web3 wallet will initiate the transaction, and you can follow the prompts to approve it. Particularly, you’ll need to hit the [Confirm].

Ensure you have extra ETH in your wallet to cover the transaction cost.

Step 5: Wait for the Funds To Arrive 

Once the transaction is confirmed via your wallet, wait for assets to appear on the destination chain. As a rule, the transaction takes up to 30 minutes to clear. 

In the interface, you can see the progress of your cross-chain transfer.

Step 6: Confirm the Receipt of Funds

In your Ethereum wallet, you must manually confirm the receipt of funds. Check your wallet configuration for the network set to make your funds visible upon arrival. Switch to a different blockchain if needed.

Benefits of using Arbitrum Bridge

Cost-Effectiveness

The growing popularity of the Ethereum network among developers and users has led to increased congestion. As a result, you may face slower transactions and higher transaction fees.

Switching to the Arbitrum network enables you to save on transaction costs. Thanks to batch processing and off-chain computation, gas fees on this network are much lower than Ethereum. At the time of writing, this difference is as much as 5 times.

What’s more, Arbitrum Bridge doesn’t impose service fees for a cross-chain transfer. When bridging tokens from Ethereum to Arbitrum, you only pay gas fees.

Accessibility and Ease of Use

Thanks to Arbitrum Bridge’s smooth and intuitive interface, moving assets from Ethereum to Arbitrum is easy. With broad token support, you don’t have to stick with just one asset type like ETH. Speedy transactions enable you to bridge funds from the source chain to the destination network in minutes.

Improved Scalability

To address Ethereum’s scalability issues, Arbitrum relies on the optimistic roll-up tech. Arbitrum bundles multiple transactions into batches and handles computations off-chain through this technology. 

So, bridging assets to Arbitrum offers greater efficiency in transaction processing. A decentralized cross-rollup bridge from Arbitrum gives you access to this scalable environment.

Enhanced Security

When migrating data and assets, Arbitrum Bridge ensures high security. During bridging, it locks a certain amount of tokens on Ethereum and mints the same amount on Arbitrum. It doesn’t intervene with the user’s assets in any way. So, holders stay in control of their funds.

Additionally, Arbitrum Bridge has built-in tools to spot and fix vulnerabilities. Thus, the assets you transfer are safe from malicious attacks.

Support for ERC-20 and ERC-721 tokens

An Ethereum-friendly bridging protocol, Arbitrum Bridge supports tokens other than Ether. Use it to migrate ERC-721 or ERC-20 tokens to Arbitrum. 

ERC-721 stands for a token standard for NFTs on the Ethereum blockchain. ERC-20 are fungible tokens that operate within the same network. Tether (USDT), Shiba Inu (SHIB), and Polygon (MATIC).

Fostering dApp and Smart Contract Development

Arbitrum Bridge provides access to a decentralized infrastructure with quick transaction processing. By transferring Ethereum contracts to Arbitrum, developers can leverage the benefits of the two chains. 

Arbitrum’s cross-chain interoperability protocol is great for dApps and smart contracts. Bridging assets and data seamlessly streamlines the development process. Furthermore, enhanced interaction between networks fosters collaboration between developers.

Wrapping Up

With Ethereum’s network congestion and high fees, networks like Arbitrum can be a worthy alternative. When moving assets to Arbitrum, the official bridge built by Offchain Labs comes in handy. 

Optimistic rollups and off-chain computations bring scalability to Arbitrum and reduce transaction costs. Along with lower costs, you can enjoy faster transactions and ultimate security.

There’s no need to be Web3-savvy to bridge your tokens from Ethereum Mainnet to Arbitrum. With a simple asset migration process and intuitive interface, you can transfer your assets in minutes. If you have difficulties along the way, you can always refer to our guide.