We know that it could be a little frightening to bridge tokens between different blockchains. We’ll walk you through a couple of secure methods to accomplish so in this guide.
What is Base?
Base is the Layer-2 network that one of the largest cryptocurrency companies in the world, Coinbase, constructed on top of Ethereum. Read this article to learn more about Base, what you currently need to bridge, and why.
ETH is required on the Base
The base does not currently have a unique token. Coinbase uses ETH instead. This implies that even while Base transaction costs are a small portion of those on the Ethereum mainnet, users still have to pay ETH for Base transactions. For instance, a USDC transaction on ETH costs $5, whereas a similar transaction on Base costs $0.05. In summary, ETH is required. Let’s build a bridge now.
Five Simple Steps to Bridge Any Token to Base
- Create an account on any exchange. Now link your Web3 wallet, and navigate to Base.
- Select the coins you wish to exchange on Base for ETH, then click “Review bridge.”
- Next, click “Start bridging.”
- You may need to “Approve” the use of your tokens when your Web3 wallet appears.
- The real transaction must then be “Confirmed” after that.
Bridging will start and could take ten to fifteen minutes. Congratulations! You have successfully used the bridge and got ETH on Base!
What Happens Once Your ETH is on Base via Coinbase?
With how quickly the Base ecosystem is expanding, it makes sense to have ETH on the Coinbase Layer-2 network. However, you must also put it to use or make it work for you. There are some options available to you:
- Exchange your ETH for other tokens on any of the decentralized exchanges that are out there, such as SushiSwap and Uniswap.
- Explore top NFT collections by visiting the Base chain page, and consider joining one of those communities.
- You can also participate in a game on Base. Did you know that Base is the foundation for the trading card game?
