The layer2 scaling solutions have come into the picture to relieve the burden and stress of Ethereum and propelled the scalability for the widespread adoption of a blockchain network. In conjunction with the surge in user demand, Coin98 Wallet officially integrates with Arbitrum, a Layer 2 scaling solution for Ethereum, offering users a unique blast of benefits from gas fees, transaction speed, and DApps experience on the ecosystem and more promising future of Layer2.
The rising of gas fees on Ethereum has come up with many scaling alternatives. One of the most notable layer2 scaling solutions onboarded on Coin98 Wallet is Arbitrum, bringing users to a plethora of lower fees, faster transaction throughput, and open participation. As a result, Coin98 Wallet has been expanding the universe horizon up to 33 blockchains till now.
Arbitrum is a Rollup chain built on top of and secured by the Ethereum blockchain, and all transaction data is logged on Ethereum. Thanks to that mechanism, Arbitrum brings Coin98 Wallet users trustless security, compatibility with Ethereum, scalability & minimum cost.
Apart from that, Coin98 Wallet aims to broaden the networks to Arbitrum in which over 650,000 Coin98 Wallet users can have a chance to interact with over 400 DApps under development on it with the gas fee lower than 50x compared to Ethereum blockchain through DApp Browser.
Another spotlight is given to Arbitrum on our fascinating updates on Coin98 Wallet version 10.3, which is a cross-chain bridge between Ethereum and Arbitrum. Currently, users are comfortable transferring their assets from Layer 1 to Layer2 natively on the Mobile Wallet with ease with no more than 3 steps. As a result of lowering the cross-chain barrier, Coin98 Wallet is looking forward to seeing a large influx of new users enter the DeFi space in the near future.
How to create an Arbitrum Wallet on Coin98 Wallet
Before we begin, you need to install or update our Mobile App to the latest version:
Coin98 Wallet integrates both Arbitrum and Arbitrum on xDai, users can create a wallet before experiencing its ecosystem.
Step 1: Open Coin98 Mobile Wallet & click Manage on the home screen.
Step 2: Click Add Wallet, choose the Arbitrum icon and click Create.
Step 3: Name the wallet.Click Next.
- Paste the provided Passphrase/ Private Key into the confirmation box.
- After copying & saving your Passphrase, tick the “Backup your recovery key” box to confirm & back up the provided Passphrase & Private Key. Please note that these information are crucial to keeping your assets safe. Tick the remaining boxes to confirm you’re aware of the risks.
- Click Create Wallet.
Your Arbitrum Wallet will instantly be displayed on the home screen. You can also click Manage to check your wallets.
If you have had a multichain wallet already, you just need to tap the Refresh button to automatically update all-new integrated blockchains on your Coin98 Wallet. Follow the instructions below.
Users can follow this step-by-step guide for further instructions on how to send and receive ETH ABR on the Coin98 Mobile Wallet.
Besides, users can also experience the native cross-chain bridge to convert assets from Ethereum to Arbitrium, walk through how to use Arbitrum cross-chain bridge here.
About Coin98 Wallet
Coin98 Wallet is a non-custodial wallet used to store, manage, trade, and swap multi-chain, multi-source digital, and NFT assets. It supports the most popular chains, including BTC, ETH, TOMO, Tron, Binance Smart Chain, Solana, Polkadot, Kusama, HECO Chain, Near, Avalanche X-Chain & C-Chain, Binance Chain, Celo, BandChain, Kava, Terra, Cosmos, ThorChain, Fantom, Polygon, Persistence, XDai, Kardiachain, Ronin, GateChain, OKExChain, Klaytn, .... Coin98 Wallet has both the Mobile App and the Extension version that act as a gateway, connecting users to the DeFi world.
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