How to buy BRCF on Uniswap Arbitrum
It is less complicated than it sounds. It is really a matter of buying ETH on a centralized exchange such as Coinbase, Binance, FTX, and bridging it to Arbitrum.
UPDATE: You can now bridge (withdraw) directly from Binance onto Arbitrum. This means you do not have to withdraw onto the ETH network, but you can choose Arbitrum in the withdrawal panel. Less fees.
Arbitrum is a so-called “Layer 2 Solution” for the Ethereum network. We decided to launch the Barcraft Token on Arbitrum to reduce the gas fees (transaction costs) for everybody.
Now, let´s jump straight into the tutorial:
- Buy some ETH on a centralized exchange. It should be said that the bridging costs to Arbitrum depend on the current ETH network congestion. In layman terms, it costs around 30 USD worth of ETH to bridge to Arbitrum so if you are planning to buy 100 USD or less of ETH, it is not worth the effort.
2. Withdraw the ETH to a Metamask wallet. If you dont know what a Metamask is, it is a web-based cryptocurrency wallet. You can get it here: https://metamask.io/
Put your Metamask´s wallet address into the field, “Address” and make sure you choose the ETH network (otherwise your crypto will be LOST!).
Double check the address and network before proceeding.
3. Go to https://arbiscan.io/
On the bottom right, you can see the, “Add Arbitrum Network” icon. Click on it and approve it in Metamask. You might have to log in. This step is important so you can view your tokens later on.
4. Go to https://bridge.arbitrum.io/
Now, it is time to bridge it to Arbitrum. Once you go to the bridge website, you need to connect your Metamask to the web. After thats done, you will see the following:
Type in the amount of ETH you want to bridge and click on “Deposit”. Now, you will have to approve the transaction (a Metamask pop-up). It will cost around 30–40 USD, you can get it cheaper or more expensive….it depends on the ETH network.
Wait around 5 minutes for the ETH to arrive. Switch from main net ETH to Arbitrum in your Metamask to view your balance.
It should look like this. It will prompt you to sign into your Metamask first. After signing in, a window will appear asking you whether you want to import a custom token. Confirm it. Also, make sure you choose “Arbitrum” in the top right corner.
BRCF is trading against USDC so bear in mind that you will have to exchange your ETH for USDC first before you buy it. This is fairly easy to do. Click on “USDC” and replace it with “ETH” and “BRCF” with “USDC”. Approve the allowance is the first pop up and then the second one is the real tranaction which swaps your ETH into USDC.
And we are almost done! Enter the amount of BRCF you want to buy, it will ask you for ALLOWANCE first. This is the first transaction with Uniswap when you actually tell Uniswap you allow it to exchange your USDC.
After this is done, you can click it again and the REAL TRANSACTION will come up. Confirm it and voala! You´ve done it! You got BRCF.
You might not see it in the Metamask. Scroll to the bottom of your Metamask and click on “Import Token”. Then type this into the token address:
The rest should get filled in automatically and confirm it. You should be able to see the balance now.