Ethereum layer-2 scaling solutions have achieved steady growth in 2023, with Optimism (OP) and Arbtrium (ARB) apparently in the spotlight. The ongoing demand for gas fee optimization and ease of congestion will likely improve the long-term outlook for both OP and ARB tokens.
In this post, we'll provide you with step-by-step instructions on how to buy Arbitrum on Binance. You can easily purchase Arbitrum in only a few steps. It's also considered the safest way to buy ARB.
Where to buy Arbitrum?
Some of the most popular exchanges to buy ARB include Binance, KuCoin, Kraken, and PancakeSwap. When choosing an exchange to buy ARB, it's important to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may not be available in certain countries or regions.
Step-by-Step Guide on How to Buy Arbitrum:
Follow the below steps to buy Arbitrum using the Binance exchange. Aside from buying and trading Arbitrum (ARB), you can also stake ARB to earn passive income.
Step 1: Register for a Binance account
Register using our Affiliate link to get a $600 welcome bonus.
The first step is to register for a Binance account; if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the 'Register' button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also use the main sign-up with an email or phone option.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. Registering as an entity if you are looking to buy Arbitrum as a Limited company business on the Binance exchange is also an option.
Step 2: Verify your identity on Binance
Before you can buy ARB on Binance, you will need to verify your identity. To do this, click the 'Profile' button on the top right-hand corner of the page and select 'Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy ARB
There are numerous ways to buy Arbitrum on the Binance exchange, and it all comes down to your preference. We will explore some popular methods to buy Arbitrum on Binance.
Option 1: Fund your Binance account with crypto
This method is helpful for anyone who owns crypto on other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Arbitrum with Bitcoin, as Binance supports trading BTC/ARB pairs.
After verifying your identity, you can fund your Binance account with Crypto. To do this, click the 'Deposit' button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy ARB.
On the deposit Crypto page, choose the crypto (in this case, we have selected Bitcoin) and its network. Binance will generate a Bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed in the network, Binance will credit the Crypto for you.
Convert Bitcoin Crypto to Arbitrum (ARB) on Binance
After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to ARB.
There are two ways to convert your crypto to ARB: Market order or Limit order.
- Buying ARB with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.
- Buying ARB with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.
You can also swap USDT to ARB using Binance Convert.
Buy ARB With Limit Order On Binance
The above screenshot shows an example of placing a limit order to buy Arbitrum using BNB. You can click on the bars icon next to the limit button to display the price chart of your selected crypto convert pair. Click on Confirm Order to get 40 ARB tokens into your account.
Congrats! You have now bought Arbitrum by funding your Binance account with crypto and using Binance Convert.
Option 2: Fund your Binance account with Fiat
This option is beneficial if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.
Click the 'Deposit' button on the right, then choose 'Cash In.'
The system will direct you to 'Buy Crypto' page:
Choose the currency and enter the amount of ARB you want to buy. After that, click 'Buy ARB.' Note: This method doesn't work with US Dollar (USD) and some currencies.
The system will direct you to 'Deposit Fiat' page, click 'Continue.' You're required to make an additional verification.
When using the Bank transfer method to fund your account, make sure to follow the below tips:
- Your bank account name must match the name registered to your Binance account.
- Please include your full name in your bank transfer's Reference/Remark section.
- If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.
After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.
Congrats! You have now bought ARB by funding your Binance account with fiat currency and using a Binance Cash balance.PayPal
Buy Arbitrum with Paypal: Binance does not currently support purchasing Arbitrum (ARB) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Arbitrum.
Other exchanges, such as Coinbase support PayPal payment methods to buy crypto. If you have an existing PayPal account, you'll be able to start making transactions on Coinbase right away.
Step 5: Withdraw ARB from Binance
After buying ARB on Binance, you may want to withdraw it to a hard or soft wallet you control. To do this, click the 'Withdraw' button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your ARB. Ensure you enter the correct address and network, as transactions on the blockchain are irreversible.
You must also enter the amount of ARB you want to withdraw. Once you have entered the correct wallet address and the amount of ARB you want to withdraw, click on the 'Submit' button. Binance will then process your withdrawal request, and your ARB will be sent to the wallet address you provided.
Tips for buying ARB on Binance
- Always double-check your order details before placing a trade to ensure everything is correct.
- Consider using the "Limit" order type instead of the "Market" order type when buying ARB. With a limit order, you can set the price you are willing to pay for ARB, whereas with a market order, you will pay the current market price for ARB, which may not be the best price.
- Consider using two-factor authentication (2FA) to enhance security after registration.
6 Reasons to Buy Arbitrum Right Now
Should I buy ARB? Is Arbitrum a good investment? If you are considering whether you should buy Arbitrum or not, then the below points may provide some clarity about the project.
- Scalability: As a layer-2 scaling solution for Ethereum, Arbitrum offers lower transaction fees and faster transaction times, which is particularly beneficial to decentralized applications (DApps) and games.
- Security: Built on a secure foundation and audited by top security firms, Arbitrum guarantees security while enabling faster and cheaper transactions.
- Adoption: Arbitrum's growing ecosystem is home of over 400 DApps and games. The project has gained traction and adoption from both developers and users. The total value locked (TVL) on Arbitrum has grown rapidly in recent months.
- Interoperability: EVM-compatibility makes it easy for developers to build on Arbitrum and for users to access their favorite Ethereum DApps on a faster and cheaper platform.
- Team: The team's solid background gives investors confidence that the project is in good hands and will continue to grow.
- Price: Many crypto experts think that Arbitrum is still undervalued compared to other layer-2 scaling solutions. So investors can seize this opportunity to get in early on a project if they believe in its future.
How to buy ARB in the Philippines?
Choose a cryptocurrency exchange that supports ARB trading. Binance is one of the best places to buy ARB in the Philippines. Binance is also one of the cheapest ways to buy ARB in the Philippines.
How to buy ARB in India?
Binance is one of the best places to buy ARB in India. Binance is also one of the cheapest ways to buy ARB in India.
Where to buy ARB in the UK?
Choose a cryptocurrency exchange that supports ARB trading. Binance is one of the best places to buy ARB in the UK.
How to buy ARB in Australia?
Binance is one of the best places to buy ARB in Australia. Binance is also one of the cheapest ways to buy ARB.
How to buy ARB in Brazil?
Choose a cryptocurrency exchange that supports ARB trading. Binance is one of the best places to buy ARB in Brazil.
Where to buy ARB in the US?
Choose a cryptocurrency exchange that supports ARB trading. Coinbase is one of the best places to buy ARB in the US.