How to Buy Arbitrum Crypto (ARB)
What is Arbitrum (ARB)?
Arbitrum is a relatively new cryptocurrency on the Arbitrum One Chain that's been making a lot of investors excited. This project's community is already growing fast and strong. The technology that Arbitrum is promising will be able to revolutionize the market if done right. Arbitrum its still in his early stage but so far seems very promising.
Where can I buy ARB Crypto?
You can buy Arbitrum on crypto on Sushiswap's Arbitrum Version.
Why should you buy Arbitrum?
Arbitrum is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.
How to Buy Arbitrum Crypto?
Step 1 - Register on Binance
Binance is one of the main exchanges for crypto. We'll need to register on Binance and use it to buyETH.
Now it's the boring part where you need to fill out your information. Make sure to use your real information because Binance will ask you for verification of everything.
Step 2 - Buy USDT with Fiat Money and Trade it for ETH.
Now that all the boring verification part is done, you have to add a payment method. You can choose between a Bank Transfer or Credit/Debit card. Credit Card has higher fees, but you can make an instant purchase. Bank Transfer is cheaper, but you have to wait a couple of days for the money to arrive at Coinbase.
For this demonstration, I will be using the Credit Card payment method.
On the upper left corner, click on Buy Crypto, and select your payment method:
On the next page, select or add the card you're going to use to buy crypto. And the cryptocurrency you'll need to buy is USDT. The reason we are buying USDT is to save on fees. Buying USDT will have much lower fees than buying ETH directly because each USDT token represents one US dollar.
So we'll be buying USDT and trading it for ETH afterwards. If you want to skip this step, you can buy ETH directly now, but I recommend you not to, so you can save on the fees and get more crypto out of your Fiat money.
Add your card if you haven't yet, and proceed with the purchase of USDT.
Time to convert it to ETH. Click on Trade on the top menu:
Select the amount you want to trade (click on MAX if you want to trade it all). Proceed, wait for a few moments and you should now have ETH in your Binance Wallet. That's it for this step.
Step 3 - Setting up a Metamask Wallet
Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.
Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.
Now since we are using the Arbitrum One, we’ll need to add the Network. I’ll go over this very quickly. Just go over to https://arbiscan.io/.
Bottom right corner click here:
Accept everything on your Metamask and you should have your Arbitrum Network configured and the network switched to it.
Alternatively you can add the network manually like this:
Click on the upper right corner where you see the image and then click Settings. Select Networks and click on Add Network.
Fill out the boxes with this info:
- Network Name: Arbitrum One
- New RPC URL: https://arb1.arbitrum.io/rpc
- Chain ID: 42161
- Symbol: AETH
- Block Explorer URL: https://arbiscan.io
Click Save, and now you have Arbitrum ONE installed on your Metamask.
Step 4 - Send your ETH to the Metamask Wallet
To buy Arbitrum, you'll need to have some ETH in your Metamask balance so you can trade it for ARB. That is why I instructed you to buy ETH first, instead of Bitcoin, for example.
To have your previously purchased ETH on your Metamask wallet, you have to send it from your Binance account to your Metamask wallet.
Copy your Metamask Wallet address by clicking here:
Go back to your Binance. On the upper right corner, click on Wallet - Fiat and Spot.
You should see a list of the cryptocurrencies in your wallet, find ETH and click on "withdraw":
Now you should paste the Metamask wallet address that you copied before to the Recipient's ETH Address. Select the Arbitrum ONE Network and choose the amount you want to send.
Confirm everything is correct and continue. Fill out the verification codes sent to your email, phone number or Google Authenticator and proceed. You should receive your ETH on your Metamask Wallet within minutes.
Step 5 - Buy Arbitrum on SushiSwap with ETH
Sushiswap is currently the best Decentralized Exchanged for the Arbitrum Chain, and it's simply the best place to buy cryptocurrencies one Arbitrum that aren't available on sites like Coinbase or Binance.
Before we head over to Sushiswap, we need to prepare your Metamask Wallet to receive Arbitrum. Open Metamask, scroll all the way down, and click here:
Select Custom Token and paste this token contract address there:
The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Arbitrum( ARB).
You can check the price and confirm the correct token address of Arbitrum on Coingecko.
Let's buy some Arbitrum!
Go to Sushiswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it).Now you need to accept, connect, and your wallet should be connected to Sushiswap. You need to make sure you're connected to the Arbitrum version. Make sure your metamask says Arbitrum on the top.
Select a token and paste the Token contract address: 0x912ce59144191c1204e64559fe8253a0e49e6548
Click Import and accept the terms.
Now you have to select the amount of ETH you want to trade for ARB. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your ARB should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Arbitrum!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Sushiswap's gear icon, and put 5% here:
Please make sure you read our Disclaimer. We are not financial advisors.