The digital asset industry is most certainly defined by its technological progression. Indeed, the overarching technology is ever-changing, with emerging blockchains and networks competing and challenging the status quo. In this guide, we’ll explain how you would bridge from Ethereum to Avalanche.
Bridging in blockchain technology is a process that allows assets to be transferred from one network to another. Specifically, it applies to a range of assets and allows them to be transferred and integrated. Although Ethereum is certainly one of the most trusted and popular blockchain options, its rather high gas fees and often present congestion make different options more viable for certain users.
Avalance (AVAX) is an Ethereum Virtual Machines (EVM)-compatible blockchain that provides an easier platform for scalability. Specifically, the network allows for the creation of a host of subnets that are called virtual chains. These can be customized to be used for specific instances. Boasting their consensus mechanisms and governance rules, flexibility is a calling card for these virtual chains.
So, let’s explore how exactly to bridge to Avalanche.
Is it Possible to Bridge to Avalance?
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Before we approach the question of how let’s first answer the possibility of such a bridge. In short, it is possible to bridge to Avalanche; it just requires a few tools in place and a little knowledge. Most importantly, you are going to need access to cross-chain bridges.
These bridges are tools that make this process rather simple and easy. Indeed, they are the infrastructure that would facilitate the transfer that we’re seeking out here. Moreover, you are going to need a present and available digital asset wallet to enable the transfer to take place.
For wallets, the industry-leading MetaMask is a reliable option. Specifically, it gives you the chance to transfer a host of different cryptocurrencies, from Ethereum (EHT) to stablecoins like USDC. Conversely, the great benefit of Avalanche is its capability of bridging through so many suitable options to bridge the assets.
How to Bridge to Avalanche
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Now that we know it’s possible, let’s explore how to go about bridging assets to Avalanche. First, it’s immensely important to understand and select the bridge that is right for you. This is a process that will be different for everyone. However, you must research the various options and find one that best fits your needs.
One option for bridging assets would be an entity like Stargate Finance. With more than $360 million in total value locked (TVL), STarget provides a reliable option for your bridging necessities with cross-chain transactions that are rather simple. Conversely, these are the things you should know about whichever bridge you choose.
Once you have selected the bridge—for this example, we will be discussing Stargate Finance—you can fulfill the bridge in four easy steps. Firstly, you will need to connect your wallet to the bridge of your choice. Subsequently, you will have to navigate to the bridge you have selected and follow those instructions.
Then, you will select the origin chain of the assets. For example, these chains will be anything from BNB to Ethereum and represent where your digital assets currently are. From there, you will input the destination chain. For this guide, you will select Avalance as the destination chain.
Then, you will input the specific token that you wish to transfer and the amount of that specified asset. It is important to remember to review the transaction details to ensure that everything has been appropriately inputted and accounted for.
Things to Remember
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Finally, you will select the option to confirm the transaction and the process should be nearing completion. However, it is important to remember that this screen will arrive along with prompts from your wallet that will allow the transfer to be officially complete. Yet, that should be the final step in bridging assets to the Avalanche network.
Now, there are a few things to remember. Chief among those things would be the present gas fees connected to such a process. Indeed, it is always vital to be aware of the kinds of fees that you could incur when doing this, like transferring assets from one blockchain to another.
The fees that you will be charged will depend on the original blockchain used in the transfer. Specifically, transferring from Ethereum could come with a gas fee of $20. However, other layer-2 networks could charge anywhere from $5 to $10.