The Arbitrum token is the latest hot coin on the market. Here’s a quick explainer of what Arbitrum is, where to buy Arbitrum token $ARB, and how to buy it.
What is Arbitrum (ARB)?
Arbitrum is a smart contract that helps the Ethereum blockchain process transactions. For more context, a smart contract is a computer program that helps complete and process cryptocurrency transactions.
Ethereum is an efficient blockchain, but sometimes, transactions become too much to process. This transaction overflow is because Ethereum has become very popular for activities like buying and selling digital art and decentralised finance (DeFi).
This popularity causes the Ethereum system to become occasionally congested, making transactions expensive and slow. To solve this problem, the Ethereum team is working on both on-chain (within the blockchain) and off-chain (outside of the blockchain) solutions to improve its processing capacity. Arbitrum was developed by Offchain Labs in 2021 as a solution to improve the efficiency of the Ethereum blockchain by increasing transaction speed and reducing trading fees.
What is the Arbitrum token ($ARB)?
$ARB is the native governance token of Arbitrum. This governance token allows its holders to vote in decisions related to how the Arbitrum smart contract and foundation work. The release of this token means that Arbitrum is now a decentralised autonomous organisation (DAO).
A decentralised autonomous organisation is a type of organisation that uses computer programs called smart contracts to run its operations and make decisions. Instead of relying on a central authority like typical organisations, it relies on a decentralised voting process where token holders can vote on proposals, and the results are automatically executed through smart contracts.
The goal of a DAO is to create a transparent and democratic way of making decisions and running an organisation.
When is the Arbitrum Token Launching?
The Arbitrum Foundation announced the launch of the ARB token on March 16, 2023, via their Twitter account. The $ARB airdrop would be distributed to eligible Arbitrum participants, and claiming started on Thursday, March 23, 2023.
How much $ARB will eligible traders receive?
Most eligible traders would receive about 625 $ARB tokens, while others would receive about 10,250 tokens. In total, Arbitrum users will receive 1.162 billion ARB via airdrop to their wallet addresses.
How much is ARB currently worth?
According to CoinGecko, $ARB hit a high of $8.65 but has since fallen down to $1.4 (a -71.45%price reduction in the last 24 hours).
The Arbitrum token currently has a Market Cap of $1,837,263,047, a circulating supply of 1.3 Billion ARB, and a 24 Hour Trading Vol of $2,089,628,768.
Where to Buy Arbitrum (ARB) Token
The Arbitrum Token (ARB) will be available on Obiex for buying, selling, swapping, and trading within the next couple of hours. Obiex is a cryptocurrency exchange that makes trading simple and easy for everyone, whether you’re a beginner or an experienced trader.
With over 60,000 users, Obiex has processed $5.2 Billion in transactions since launch, with a workforce of over 30 team members spread across Europe, the Middle East, West Africa, and Central Africa. Obiex offers instant swapping of crypto without blockchain confirmation and access to trading over 20 coins and tokens.
You can also buy airtime and data or pay for DSTV, GOTV, WAEC, and JAMB and fund your Betting account with crypto using Obiex. The Obiex virtual card for seamless and never-failing international and local payments is coming soon as well.
Here’s how to buy Arbitrum Token on Obiex
- Sign in to Obiex with your registered email and password. If you don’t have an Obiex account, click here to create one in less than 2 minutes.
- Tap the swap button and select USDT, BUSD, or USDC from the “from” coin list.
- Select ARB from the “select coin” list.
- Select and confirm the coin amount you want to exchange.
- The swapped amount of ARB is now in your ARB wallet.
How to Swap from ARB to other coins on Obiex
- Sign in to Obiex with your registered email and password. If you don’t have an Obiex account, click here to create one in less than 2 minutes.
- Tap the swap button and select ARB from the “from” coin list.
- Select USDT, BUSD, or USDC from the “select coin” list.
- Select and confirm the coin amount you want to exchange.
- The swapped amount of the coin is now in your wallet.
How to Buy and Hold ARB on Obiex
Buying and hodling mean buying a cryptocurrency like ARB, BTC, or ETH with the intention of keeping it in your wallet for a certain amount of time. You can buy and hold a cryptocurrency for six months, a year, or even 5 years.
The purpose of buying and hodling is to make a profit from selling the coin or token when it increases in value after six months, a year, and so on. For instance, if you buy $1000 worth of $ARB at its current price of $1.4 and keep it in your wallet till it increases in price to $25. When you sell it, you would make a profit of $24,000.
Here are the steps to follow to buy and hold $ARB on Obiex:
- Sign in to Obiex with your registered email and password. If you don’t have an Obiex account, click here to create one in less than 2 minutes.
- Tap the swap button and select USDT, BUSD, or USDC from the “from” coin list.
- Select ARB from the “select coin” list.
- Select and confirm the coin amount you want to exchange.
- The swapped amount of ARB is now in your ARB wallet.
- To hold the token, leave the ARB in your wallet till whenever you are ready to sell it.
Join over 60 thousand users trading cryptocurrency on Obiex. Sign up in less than 2 minutes and start trading today!
Disclaimer: This article was written by the writer to provide guidance and understanding of cryptocurrency trading. It is not an exhaustive article and should not be taken as financial advice. Obiex will not be held liable for your investment decisions.
