Monday, June 2, 2025
Coin Insights
No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    Courtyard Tops Sales, Doodles Leads in Growth

    Courtyard Tops Sales, Doodles Leads in Growth

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    NFT sales drop to $129.8m, Avalanche sales surge 200%

  • Gaming
    Solana Meme Coin Bonk Launches ‘Kill-to-Earn’ Shooter Game

    Solana Meme Coin Bonk Launches ‘Kill-to-Earn’ Shooter Game

    Yuga Labs Offloads Moonbirds to OCG – Vision, Plans & Market Reaction

    Yuga Labs Offloads Moonbirds to OCG – Vision, Plans & Market Reaction

    Earn 5x GUN Tokens Monthly: A Complete Guide to Off the Grid Battle Pass

    Earn 5x GUN Tokens Monthly: A Complete Guide to Off the Grid Battle Pass

    GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

    GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

    The Biggest Games Releasing in June 2025

    The Biggest Games Releasing in June 2025

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    The Biggest Shutdowns So Far in 2025

    The Biggest Shutdowns So Far in 2025

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

    What Is Blockchain? Blockchain Technology Explained for Beginners

    What Is Blockchain? Blockchain Technology Explained for Beginners

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Council of Europe Highlights Metaverse's Impact on Privacy and Democracy

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

    Carrieverse and Disney Ink Content Deal

    Carrieverse and Disney Ink Content Deal

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

    Somnia Launches Playground App to Empower Metaverse Creators

    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    NFT Market Sees Mixed Results, Polygon Leads While Ethereum Collections Rebound

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    Performance Art Duo Operator ‘Make Movement Collectible’ With NFTs

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    NFT Market Sees $3.91M Volume on OpenSea Amid CryptoPunks’ Dominance

    Courtyard Tops Sales, Doodles Leads in Growth

    Courtyard Tops Sales, Doodles Leads in Growth

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    a new collection of NFT stamps inspired by Mozart and Hedy Lamarr

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    Trump’s controversial memecoin dinner elicited mixed responses from attendees

    NFT sales drop to $129.8m, Avalanche sales surge 200%

    NFT sales drop to $129.8m, Avalanche sales surge 200%

  • Gaming
    Solana Meme Coin Bonk Launches ‘Kill-to-Earn’ Shooter Game

    Solana Meme Coin Bonk Launches ‘Kill-to-Earn’ Shooter Game

    Yuga Labs Offloads Moonbirds to OCG – Vision, Plans & Market Reaction

    Yuga Labs Offloads Moonbirds to OCG – Vision, Plans & Market Reaction

    Earn 5x GUN Tokens Monthly: A Complete Guide to Off the Grid Battle Pass

    Earn 5x GUN Tokens Monthly: A Complete Guide to Off the Grid Battle Pass

    GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

    GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

    The Biggest Games Releasing in June 2025

    The Biggest Games Releasing in June 2025

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    Dæmons Taps Orochi Network to Power GameFi with Verifiable On-Chain Data

    The Biggest Shutdowns So Far in 2025

    The Biggest Shutdowns So Far in 2025

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    PCM Wallet Announces Collaboration with DegenVerse to Redefine Web3 Gaming

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

    OpenSea Ends Beta, Launches OS2 with Multi-Chain Support, XP Rewards & SEA Token

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

    Types, Use Cases and Why They Matter

    What’s the Real Difference for Beginners?

    What’s the Real Difference for Beginners?

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    The Main Differences Between Crypto Exchanges

    What Is a DEX? How DEXs Work and Why They Matter

    What Is Blockchain? Blockchain Technology Explained for Beginners

    What Is Blockchain? Blockchain Technology Explained for Beginners

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

    Blockchain Layers Explained for Beginners: L1, L2, L3 Solutions

  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Dogecoin Bull run

    Here’s What Could Trigger the Next Dogecoin (DOGE) Bull Run, According to Crypto Strategist

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
No Result
View All Result
Coin Insights
No Result
View All Result
Home Altcoins

How To Buy, Sell, And Trade Tokens On The Optimism Network

January 21, 2024
in Altcoins
0
How To Buy, Sell, And Trade Tokens On The Optimism Network
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Optimism (OP) is a Layer 2 network that solves Ethereum’s scalability issues, bringing low fees and faster transactions to users. Scalability and low gas fees have always been Ethereum’s major problems. This is because, amid the trilemma of crypto, where security, decentralization, and scalability are not equal, Ethereum chose more security than decentralization and more decentralization than scalability to focus on. This is the reason Ethereum has a lot of layer 2s to help solve the scalability difficulties. 

Over the years, people have had to spend huge amounts of ETH gas to perform a transaction, but no one really cared at the time because the value of ETH was small. For example, spending 0.001 ETH when ETH was worth $300 means that you were spending $0.03 on gas fees, which was cheap. 

This was also at a time when the network was less congested, but over time, the value of ETH increased from $300 to over $2,000. In a more congested period, users have found it could cost upwards of $80 in gas fees to approve a transaction on the Ethereum chain. 

OP network is one of the Layer 2 fixes for ETH

What better way to solve this issue than to introduce the Ethereum Layer 2s, which will give you almost the same properties as Ethereum but is expected to be better in what Ethereum is lacking. Ethereum is lacking in the scalability aspect, some of the layer 2s are helping to fill the void while some are not. One layer 2 Ethereum chain that is helping to feel the void is the Optmism chain. 

Ethereum is great, but imagine not wanting to transact on the chain because you feel the gas fee is too expensive. It’s like spending $50 on a delivery fee to buy a $10 item. Although Ethereum boasts of strong security, some people still detest the expensive gas fee and decide to build on other chains. 

Optimism (OP) Network Benefits: Cheap gas fees and lightning-fast transaction speed

 Optimism is an Ethereum rollup that is known for cheap gas fees and lightning-fast transaction speed. Using the chain to transact will make you appreciate it so much and will make you want to transact on the chain regularly. 

If you were used to paying $10 on gas fees on the ETH network, you would appreciate the Optimism network more, as you would spend less than $0.01 on gas fees. The Optimism Network is one of the most successful Ethereum layer 2 chains, with a very successful airdrop of its native token called Optimism (OP), which can be traded on centralized exchanges. 

Important things to know about the Optimism Ecosystem:

Let’s explore the Optimism ecosystem to help you know how to navigate and use the decentralized applications (DApps) on the network, which keeps you safe from falling for fake sites and phishing links. 

The optimism mainnet chain uses optimism ETH, opETH, for gas fees. Tokens on the chain are sometimes represented as opX, where X represents the token. For instance, if you have Bitcoin on the Optimism chain, it is represented as opBTC, so Ethereum on the Optimism chain is opETH. 

How to Buy, Sell, and Trade Tokens on the Optimism Chain or Network:

To buy any token on the optimism chain, you need optimism ETH; you can get OPETH in two ways: through the centralized or the decentralized way. Let’s talk about the centralised way first because it doesn’t require much effort. 

If you have a Binance account, Bybit, Kucoin, or HTX, and you have some USDT, you can trade the USDT for ETH. Then, withdraw the ETH on the Optimism network to your EVM wallet like Metamask. 

Decentralized Way To Buy Optimism (OP)

To get opETH the decentralised way, you would need to know what wallets to use. Optimism network supports varieties of EVM wallets. Here are some EVM wallets that are compatible with Optimism network; we have Metamask, which’s the universal EVM wallet, Trustwallet, Coinbase Web 3 wallet, Rainbow wallet, Brave wallet, Taho wallet, OKX Web 3.0 wallet, Rabby Wallet, Zerion wallet, and lots more. Check here for the full list of Optimism ecosystem wallets. 

How to Bridge to Optimism Network:

You should have your compatible EVM wallet and your ETH in wallet ready, the next step is to bridge your ETH. There are different ways to bridge your ETH. You can use native ETH or other layer 2 ETH, and you can get native ETH from centralized exchanges or through P2P from your local crypto vendor. 

You can also get native ETH by buying directly from Metamask like this:

Optimism 1

Go to Metamask portfolio and connect your Metamask wallet or whatever EVM wallet you have. Choose your location, and select a payment method. After that, you can select the coin you want to do, this method gives you a variety of coins on different chains. 

You can select ETH on the optimism chain and easily get the ETH on the optimism chain, this way it’s easier for you to get ETH on the optimism chain or any other chain without using any centralized crypto platform. The downside to this is the spread; you can spend $100 only to end up getting $75 worth of ETH, and the rest will be used for charges. 

See also  Worldcoin jumps 20%: Is Bitcoin’s return to $64K the only reason why?

However, if you already have native ETH or ETH on Arbitrum or any other layer 2 chains, you can bridge in two ways.

Bridging using the Optimism native bridge: With this, you can bridge from the available ETH networks to the Optimism network. This bridge primarily supports bridging from native ETH to optimism but doesn’t primarily support other chains to the optimism chain. So it uses a secondary bridging platform like hop protocol, stargate, and more. 

Using the Optimism bridge is pretty easy, but you will have to have native ETH in your wallet. Go to the site, connect your wallet to the site, and review the deposit.

Bridge

From the review deposit, you will see that you have to pay a gas fee to the optimism chain. This gas fee is for the optimism chain, and after paying that, you still need to pay another gas fee to initiate the transaction, depending on the gas fee congestion at that moment. 

For instance, the gas fee congestion states I pay an extra $8.51 because the Ethereum chain has a high gas fee. 

Optimism bridge

So if you do the math, you will notice that we have spent over $16 just to bridge from the Ethereum mainnet to the optimism chain. This is why we need to consider the other bridging option, which is bridging using the secondary bridging platforms. 

There are varieties of secondary bridging platforms you can use, and each of them has its different bridging fees. 

Bridging using the Optimism app bridge: You can access all the secondary bridging platforms on the Optimism app bridge https://www.optimism.io/apps/bridges. Even though most of them are cheaper than the native bridge option, you have to do your research and find the cheapest with the fastest transaction time. 

DAPPS

Most of them are pretty easy to use, and some recommendations include Orbiter. finance, Bungee, and Layerswap. Transactions on these platforms are pretty cheap and can support bridging from other chains. 

Enter their sites from the Optimism bridging apps, choose any of your choices, connect to your wallet, select what network you want to bridge to the optimism chain, approve, and bridge. 

How to Find and Trade Tokens on the Optimism Chain:

With your optimism ETH in your wallet, let’s trade. To trade on the optimism chain, you need to know what to trade. On the optimism chain, you can only trade tokens on the optimism chain. To find tokens on the Optimism, you will have to use Dexscreener. 

Dexscreener is an on-chain tracker used to check most EVM and non-EVM coins and tokens. However, we will be focusing on the optimism chain right now, so navigate to the Optimism chain Dexscreener.

Token names

You can see a variety of tokens to trade on the optimism chain. If you have a specific optimism token in mind, you can type the name in the search button. If you don’t know the name of the token but have the smart contract address, you can also input that and the token will be displayed. 

From Dexscreener, you can also find the token contract address just by clicking the token name on Dexscreener. 

Dexscreener

For Instance, click on any token, scroll down and you will see the contract address, just like Smile in the red box. 

Now you know how to get token smart contracts, it’s time to trade them. There are different DEXes to trade these tokens, as shown below:

Optimism DEX

Check the Optimism Defi Section to select which DEX to use. People mostly use the Uniswap DEX, 1INCH DEX, and Sushi Swap. 

Optimism SushiSwap

Let’s use SushiSwap to show how to trade optimism tokens on the optimism network. Go to the SushiSwap swap section. Connect your wallet and change the network to the optimism network. 

If you want to swap opETH for any optimism token, click on the denominator side, input the contract address of the token, and approve the token. Now you can trade. 

Conclusion

The Optimisim network is just like any other decentralized network when it comes to trading and buying these tokens carry their own unique risks. A lot of the tokens on decentralized exchanges are new, and are therefore untested. So when trading these tokens, always risk what you are willing to lose in the event a project does turn out to be a scam or a rug.

Featured image from Smart Valor

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

Optimism (OP) is a Layer 2 network that solves Ethereum’s scalability issues, bringing low fees and faster transactions to users. Scalability and low gas fees have always been Ethereum’s major problems. This is because, amid the trilemma of crypto, where security, decentralization, and scalability are not equal, Ethereum chose more security than decentralization and more decentralization than scalability to focus on. This is the reason Ethereum has a lot of layer 2s to help solve the scalability difficulties. 

See also  Bearish Divergence? Bitcoin Price Rises, But Network Growth Sends Warning Signals

Over the years, people have had to spend huge amounts of ETH gas to perform a transaction, but no one really cared at the time because the value of ETH was small. For example, spending 0.001 ETH when ETH was worth $300 means that you were spending $0.03 on gas fees, which was cheap. 

This was also at a time when the network was less congested, but over time, the value of ETH increased from $300 to over $2,000. In a more congested period, users have found it could cost upwards of $80 in gas fees to approve a transaction on the Ethereum chain. 

OP network is one of the Layer 2 fixes for ETH

What better way to solve this issue than to introduce the Ethereum Layer 2s, which will give you almost the same properties as Ethereum but is expected to be better in what Ethereum is lacking. Ethereum is lacking in the scalability aspect, some of the layer 2s are helping to fill the void while some are not. One layer 2 Ethereum chain that is helping to feel the void is the Optmism chain. 

Ethereum is great, but imagine not wanting to transact on the chain because you feel the gas fee is too expensive. It’s like spending $50 on a delivery fee to buy a $10 item. Although Ethereum boasts of strong security, some people still detest the expensive gas fee and decide to build on other chains. 

Optimism (OP) Network Benefits: Cheap gas fees and lightning-fast transaction speed

 Optimism is an Ethereum rollup that is known for cheap gas fees and lightning-fast transaction speed. Using the chain to transact will make you appreciate it so much and will make you want to transact on the chain regularly. 

If you were used to paying $10 on gas fees on the ETH network, you would appreciate the Optimism network more, as you would spend less than $0.01 on gas fees. The Optimism Network is one of the most successful Ethereum layer 2 chains, with a very successful airdrop of its native token called Optimism (OP), which can be traded on centralized exchanges. 

Important things to know about the Optimism Ecosystem:

Let’s explore the Optimism ecosystem to help you know how to navigate and use the decentralized applications (DApps) on the network, which keeps you safe from falling for fake sites and phishing links. 

The optimism mainnet chain uses optimism ETH, opETH, for gas fees. Tokens on the chain are sometimes represented as opX, where X represents the token. For instance, if you have Bitcoin on the Optimism chain, it is represented as opBTC, so Ethereum on the Optimism chain is opETH. 

How to Buy, Sell, and Trade Tokens on the Optimism Chain or Network:

To buy any token on the optimism chain, you need optimism ETH; you can get OPETH in two ways: through the centralized or the decentralized way. Let’s talk about the centralised way first because it doesn’t require much effort. 

If you have a Binance account, Bybit, Kucoin, or HTX, and you have some USDT, you can trade the USDT for ETH. Then, withdraw the ETH on the Optimism network to your EVM wallet like Metamask. 

Decentralized Way To Buy Optimism (OP)

To get opETH the decentralised way, you would need to know what wallets to use. Optimism network supports varieties of EVM wallets. Here are some EVM wallets that are compatible with Optimism network; we have Metamask, which’s the universal EVM wallet, Trustwallet, Coinbase Web 3 wallet, Rainbow wallet, Brave wallet, Taho wallet, OKX Web 3.0 wallet, Rabby Wallet, Zerion wallet, and lots more. Check here for the full list of Optimism ecosystem wallets. 

How to Bridge to Optimism Network:

You should have your compatible EVM wallet and your ETH in wallet ready, the next step is to bridge your ETH. There are different ways to bridge your ETH. You can use native ETH or other layer 2 ETH, and you can get native ETH from centralized exchanges or through P2P from your local crypto vendor. 

You can also get native ETH by buying directly from Metamask like this:

Optimism 1

Go to Metamask portfolio and connect your Metamask wallet or whatever EVM wallet you have. Choose your location, and select a payment method. After that, you can select the coin you want to do, this method gives you a variety of coins on different chains. 

You can select ETH on the optimism chain and easily get the ETH on the optimism chain, this way it’s easier for you to get ETH on the optimism chain or any other chain without using any centralized crypto platform. The downside to this is the spread; you can spend $100 only to end up getting $75 worth of ETH, and the rest will be used for charges. 

See also  Polkadot: What a surge in network activity means for DOT prices

However, if you already have native ETH or ETH on Arbitrum or any other layer 2 chains, you can bridge in two ways.

Bridging using the Optimism native bridge: With this, you can bridge from the available ETH networks to the Optimism network. This bridge primarily supports bridging from native ETH to optimism but doesn’t primarily support other chains to the optimism chain. So it uses a secondary bridging platform like hop protocol, stargate, and more. 

Using the Optimism bridge is pretty easy, but you will have to have native ETH in your wallet. Go to the site, connect your wallet to the site, and review the deposit.

Bridge

From the review deposit, you will see that you have to pay a gas fee to the optimism chain. This gas fee is for the optimism chain, and after paying that, you still need to pay another gas fee to initiate the transaction, depending on the gas fee congestion at that moment. 

For instance, the gas fee congestion states I pay an extra $8.51 because the Ethereum chain has a high gas fee. 

Optimism bridge

So if you do the math, you will notice that we have spent over $16 just to bridge from the Ethereum mainnet to the optimism chain. This is why we need to consider the other bridging option, which is bridging using the secondary bridging platforms. 

There are varieties of secondary bridging platforms you can use, and each of them has its different bridging fees. 

Bridging using the Optimism app bridge: You can access all the secondary bridging platforms on the Optimism app bridge https://www.optimism.io/apps/bridges. Even though most of them are cheaper than the native bridge option, you have to do your research and find the cheapest with the fastest transaction time. 

DAPPS

Most of them are pretty easy to use, and some recommendations include Orbiter. finance, Bungee, and Layerswap. Transactions on these platforms are pretty cheap and can support bridging from other chains. 

Enter their sites from the Optimism bridging apps, choose any of your choices, connect to your wallet, select what network you want to bridge to the optimism chain, approve, and bridge. 

How to Find and Trade Tokens on the Optimism Chain:

With your optimism ETH in your wallet, let’s trade. To trade on the optimism chain, you need to know what to trade. On the optimism chain, you can only trade tokens on the optimism chain. To find tokens on the Optimism, you will have to use Dexscreener. 

Dexscreener is an on-chain tracker used to check most EVM and non-EVM coins and tokens. However, we will be focusing on the optimism chain right now, so navigate to the Optimism chain Dexscreener.

Token names

You can see a variety of tokens to trade on the optimism chain. If you have a specific optimism token in mind, you can type the name in the search button. If you don’t know the name of the token but have the smart contract address, you can also input that and the token will be displayed. 

From Dexscreener, you can also find the token contract address just by clicking the token name on Dexscreener. 

Dexscreener

For Instance, click on any token, scroll down and you will see the contract address, just like Smile in the red box. 

Now you know how to get token smart contracts, it’s time to trade them. There are different DEXes to trade these tokens, as shown below:

Optimism DEX

Check the Optimism Defi Section to select which DEX to use. People mostly use the Uniswap DEX, 1INCH DEX, and Sushi Swap. 

Optimism SushiSwap

Let’s use SushiSwap to show how to trade optimism tokens on the optimism network. Go to the SushiSwap swap section. Connect your wallet and change the network to the optimism network. 

If you want to swap opETH for any optimism token, click on the denominator side, input the contract address of the token, and approve the token. Now you can trade. 

Conclusion

The Optimisim network is just like any other decentralized network when it comes to trading and buying these tokens carry their own unique risks. A lot of the tokens on decentralized exchanges are new, and are therefore untested. So when trading these tokens, always risk what you are willing to lose in the event a project does turn out to be a scam or a rug.

Featured image from Smart Valor

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Tags: buynetworkOptimismSellTokenstrade

Related Posts

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor
Altcoins

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

June 25, 2024
Toncoin heats up: What does $398M in trading volume indicate?
Altcoins

Toncoin heats up: What does $398M in trading volume indicate?

June 25, 2024
Another $600M Exits, Price Drops Lower
Altcoins

Another $600M Exits, Price Drops Lower

June 25, 2024
Bitcoin faces downward pressure as Mt. Gox prepares for repayments
Altcoins

Bitcoin faces downward pressure as Mt. Gox prepares for repayments

June 25, 2024
XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?
Altcoins

XRP at a crossroads: A drop to $0.445 or rally to $0.5 next?

June 24, 2024
True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares
Altcoins

True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares

June 24, 2024
Next Post
PARSIQ’s Reactive Network Executes First Reactive Transaction, Enhancing Cross-Chain Communication

PARSIQ’s Reactive Network Executes First Reactive Transaction, Enhancing Cross-Chain Communication

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
Ethereum crosses $3.2K as L2 crosses new milestone: What now?

Ethereum crosses $3.2K as L2 crosses new milestone: What now?

May 6, 2024

Don't miss a single story

Subscribe to our free Newsletter

EDITOR'S PICK

The Ethereum ETFs Launched…And Prices Stayed Flat?

The Ethereum ETFs Launched…And Prices Stayed Flat?

July 25, 2024
A $31 Trillion Market Wants to Start Buying Bitcoin

A $31 Trillion Market Wants to Start Buying Bitcoin

February 3, 2024
Riot Platforms Bitcoin Strategy Strengthens with $500M Convertible Notes Offering

Riot Platforms Bitcoin Strategy Strengthens with $500M Convertible Notes Offering

December 9, 2024
Japan’s Web3 Support Continues: Tax Reforms and Solving Social Problems

Japan’s Web3 Support Continues: Tax Reforms and Solving Social Problems

August 29, 2024

About

Dive into the world of cryptocurrency. Our news site offers insights, trends, and updates to guide your journey into the realm of digital finance.

Follow us

Categories

  • AI
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • DeFi
  • Ethereum
  • Gaming
  • Guides
  • Metaverse
  • Mining
  • NFT
  • Other
  • Web 3

Recent Posts

  • NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche
  • Riot Platforms Taps Data Center Veteran to Expand Beyond Bitcoin Mining
  • Bitcoin Miners Bank Big in May—Highest Monthly Earnings Since the Halving

Newsletter

Don't miss a single story

Subscribe to our free Newsletter

  • Contact
  • Disclosure
  • Privacy Policy
  • Terms & conditions

© 2023 Coininsights.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
  • Metaverse
  • NFT
  • Gaming
  • Blockchain
  • AI
  • Guides
  • Analysis
  • Coin Marketcaps

© 2023 Coininsights.com - All rights reserved.