Bridging ETH to AVAX

Cross-chain interoperability is one of the many limitations of blockchain platforms. We show you how easy Bridging ETH to AVAX can be.

Most of the existing blockchain platforms operate exclusively within their networks. Independent blockchains cannot communicate with each other, exchange or retrieve information from other blockchain networks.

If you own some BTC on the Bitcoin blockchain, you cannot use your funds to participate in a project on Ethereum since the two networks are incompatible. The only way to do this would be to sell your BTC and use the funds to buy some Ethereum tokens. However, this is usually a waste of both time and funds. You will have to pay the transaction fees for selling tokens and buying another token on another blockchain. Lack of cross-chain compatibility affects the usability of digital coins.

What is the Avalanche Bridge?

As the name suggests, Avalanche Bridge solves the cross-chain incompatibility between two distinct decentralised networks – Avalanche and Ethereum mainnet. The functional bridge enables users to transfer tokens between Ethereum and Avalanche’s C-Chain directly.

How do you Bridge?

You will need a MetaMask wallet to interact with the Avalanche Bridge. Follow the steps below to bridge tokens onto Avalanche:

  • After connecting the wallet, confirm that the From tab indicates Ethereum. Otherwise, switch the network by clicking on the Switch button.
  • Choose the asset and enter the amount you want to bridge across.

You will get an AVAX airdrop to cover the cost of your first airdrop on Avalanche if you transfer more than $75.

  • Click on the Transfer button and confirm the transaction prompt that appears on your MetaMask wallet.

 

  • After approving the transaction, the progress of your token bridging status will appear on the screen. You will have to wait for the confirmation to close before you quit the screen. The transaction may take approximately 10 to 15 minutes to complete on the Ethereum network and up to 30 seconds on the Avalanche side. You will notice that the transaction speed on Avalanche is much faster compared to that on the Ethereum network.

 

  • Confirmation status will appear on the screen once the transaction is complete.

Transactions

The Avalanche Bridge only supports the transfer of the ERC-20 tokens between the Avalanche blockchain and the Ethereum network. You cannot transfer Ethereum (ETH) or Bitcoin (BTC). However, it allows the transfer of the wrapped versions of these tokens (WBTC and WETH). Additionally, you cannot send Avalanche native tokens to Ethereum. You should also ensure that you are only transferring to the same address on the other network since you cannot send to another a different wallet. Once the funds are transferred to the other network, you can now move them to any contact or address. The transaction should take between 10-15 minutes.

Nonetheless, sometimes the processing of the transaction may be delayed. In such a case, you can try to speed up the transaction by clicking on the Speed Up button on your MetaMask. This action will issue a new transaction with a higher gas price than the originally sent transaction request. A transaction with a higher gas price will have a higher priority and will complete faster.

Avalanche requires you to pay some transfer fees to facilitate your transactions and cover the operational costs of the Avalanche Bridge’s infrastructure. The fees are paid in the native token, AVAX. Therefore, you must have sufficient funds in your wallet to send and cover the transaction fees for you to send funds successfully. You can buy AVAX from centralized exchanges such as Binance or decentralized exchanges such as Pangolin.

You will be charged approximately $3 worth of ERC-20 assets you are transferring when moving from Ethereum to Avalanche network.

When transferring assets from Avalanche to Ethereum, the fees depend largely on the expected Ethereum transaction fees on the Ethereum network. The fees are determined by considering the asset’s current price, the gas price on the Ethereum network at the time of transfer, and the expected amount of gas to be used. Therefore, the Ethereum transaction may vary significantly. The bridge charges a constant fee of $15 to account for this variation.

Sometimes the gas price can be so high that it exceeds the amount of funds you are trying to send. You can wait for the gas price to reduce and send your funds. Transferring funds from the Avalanche network back to Ethereum also attracts an in-kind transfer fee.

Final Thoughts

You can transfer your ERC-20 assets between these networks, stretching the usability of your Ethereum tokens to the Avalanche network. The process is safe and secure, which is good news for security-conscious users.

The Avalanche Bridge offers a solution to the interoperability problem between the Ethereum network and Avalanche blockchain.

For more info on the latest Avalanche NFT Projects, give us a follow.

 

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