Ethereum layer-2 networks like Arbitrum continue to witness adoption as they strive to process transactions faster and cheaply. Most of these networks have native tokens, which facilitate decision-making processes.
This article focuses on Arbitrum’s native crypto ARB. If you want to invest in this token, then we advise you to stick around. We’ll show you how to buy the asset and where to store it.
Understanding ARB Token
Developed using ERC-20 standards, ARB is native to Arbitrum. While it cannot be used to pay for network fees, the token plays a key role in Arbitrum’s governance system as it gives holders the ability to vote or raise proposals. Furthermore, ARB is used to incentivize validators to secure the Arbitrum network.
As of November 2024, ARB’s circulating supply stands at 4.07 billion tokens, with a market capitalization of $2.77 billion. The Arbitrum team has capped the coin’s total supply at 10 billion.
ARB Tokenomics
So, how was ARB allocated before it launched? Well, 17.53% of ARB’s total supply was set aside for investors in Arbitrum, 1.13% for Arbitrum-based DAOs, 11.62% was allocated for rewards, 42.72% went to Arbitrum’s DAO Treasury, while the project’s team received 26.94%.
Where to Buy ARB
Arbitrum’s native token is listed on several trusted crypto exchanges, including:
OKX
Serving clients in over 105 countries, OKX is one of the leading crypto exchanges that list ARB. Its excellent track record when it comes to security makes it a top choice among investors who wish to buy ARB. Furthermore, the platform imposes competitive trading fees and boosts deep liquidity.
However, OKX isn’t ideal for beginners, considering it has limited educational resources, making it difficult for newbies to learn more about ARB and other cryptocurrencies before investing.
With unlimited educational materials, Coinbase is a perfect choice for beginners lacking crypto investment knowledge. What’s more, the platform has a simple user interface, facilitating easy navigation.
Like OKX, Coinbase employs advanced security measures to protect its customers. Also, the high liquidity on the exchange allows investors to quickly swap their fiat balances to ARB.
While Coinbase is a realible crypto platform for buying ARB, it doesn’t operate in many countries due to regulatory problems. So, before opening an account, ensure it’s available in your region.
Known for supporting hundreds of fiat currencies, Bybit is ideal for crypto investors who value convenience when entering or exiting the crypto space. Moreover, the exchange charges reasonable fees, thus ensuring customers retain most of the generated profits.
Buying ARB on Bybit is simple, thanks to the platform’s deep liquidity. However, beginners may find the exchange a bit complicated due to its advanced trading tools.
Binance, the number 1 crypto exchange based on trading volume, also lists ARB. As a user of this exchange, you will enjoy numerous benefits, including low fees, solid security measures, and multiple payment methods. Note that Binance has been targeted by various regulators worldwide, so it may not be available in certain regions.
How to Buy ARB
In this guide, we will demonstrate how to purchase ARB on Bybit. Here are the steps to follow:
Step 1: Set Up an Account
Download the Bybit mobile app from the Play Store or App Store and create an account using your phone number or email. Alternatively, you can sign up using your Apple ID or Google Account.
Step 2: Verify Your Identity
To block illegal transactions, regulated exchanges like Bybit require new users to verify their identities by completing Know Your Customer checks. That said, upload a clear selfie and a government-issued ID.
Step 3: Purchase ARB
After Bybit has verified your identity, fund your account with USDT and buy ARB. You can deposit USDT from an external wallet or purchase it with your credit/debit card using the ‘Buy Crypto.’ Alternatively, use the P2P trading platform.
After funding your Bybit account, look for ARB/USDT trading on the spot market and enter a buy position. Your ARB tokens will be deposited in your spot wallet once the trade has been processed.
Where to Store ARB
Storing your ARB tokens in a non-custodial wallet is advisable. Some of the options to consider are MetaMask, Coinbase Wallet, Trezor, and Ledger.
