We’re thrilled to announce that Kraken now supports deposits and withdrawals of Ethereum (ETH) on Arbitrum!
Arbitrum is a Layer 2 (L2) blockchain protocol built on top of the Ethereum blockchain that allows Ethereum transactions to be processed more efficiently.
By increasing the amount of transactions Ethereum can process, as well as the speed with which it can process them, Arbitrum has the additional benefit of reducing transaction costs, known as gas fees, associated with using Ethereum and its various decentralized applications.
Arbitrum also allows developers to create and execute their own Ethereum-compatible smart contracts. These can be programmed to run decentralized applications that can interact with the broader Ethereum ecosystem without bogging down the main blockchain’s performance.
Funding
Funding is already live. You can transfer Ethereum (ETH) to your Kraken account by navigating to Funding, selecting ETH and in the drop-down box the desired deposit method (network): Arbitrum One Network.
Note: ETH deposits and withdrawals on Abritrum via the Kraken Pro App and Kraken App won’t be available at launch.
Got ETH (Ethereum) on Arbitrum and a Kraken account? ⤵️
Here’s what you need to know about the assets:
Ethereum (ETH) is a global, open-source platform for decentralized applications. Ethereum is a marketplace of financial services, games and apps that is trustless, decentralized and secure. ETH is the cryptocurrency powering the Ethereum network. It’s used to pay for transactions, as a store of value or peer-to-peer payment method, or as collateral to generate entirely different crypto tokens that run on Ethereum. Learn how to add ETH to your crypto portfolio with our Learn Center article How to Buy Ethereum (ETH).
Ready to deposit but don’t have a Kraken account yet? Sign up today!
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.
Trade with caution
There is no guarantee that a limit order will execute. There is also no guarantee a market order will execute at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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Source: https://blog.kraken.com/post/17590/eth-deposits-and-withdrawals-available-on-arbitrum/
