New listing: Arbitrum

We are pleased to announce that Arbitrum (ARB) is now available on our BCM platform. After a long-awaited airdrop, Arbitrum announced on March 16 to airdrop the Arbitrum token to loyal users of the Arbitrum protocol.

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What is Arbitrum?

Arbitrum is a so-called Layer 2 scaling solution for Ethereum. It is a protocol built on top of the Ethereum blockchain and is intended to improve Ethereum's transaction speed and scalability. The goal of Arbitrum is to reduce the congestion and high costs currently associated with transactions on the Ethereum blockchain.

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Because the Ethereum blockchain is widely used for decentralized applications that use microtransactions, scaling solutions are a godsend. A possible disadvantage of such solutions, however, is that they may be centralized; this makes users dependent on a single party. To avoid centralization, Arbitrum wants to become a decentralized autonomous organization (DAO), this includes the airdrop of the Arbitrum token (ARB).

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Arbitrum Airdrop

As Arbitrum strives to become a DAO, things have to change. One of the most important changes is the ARB token. This token will be used to govern the DAO, this is also called governance. The airdrop will be paid out based on a snapshot taken on Feb. 6, 2023. A point system will be used to determine the amount of tokens a user is entitled to. Points are awarded for using Arbitrum One and Arbitrum Nova. Early users of Arbitrum One are entitled to more points.

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Arbitrum on BCM

ARB can now be bought, sold and shipped to and from the BCM platform. Once you have received the airdrop of ARB you can keep or sell it at BCM. You can sell your ARB for euro. You also have the option to swap your ARB directly (any-to-any) to any other currency on our platform.

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Trading on the BCM platform

For now, the new BCM trading environment is only available on iOS(BCM - Buying Bitcoin & crypto). This means that if you want to trade ARB on the web, it must be done on the old platform(bitcoinmeester.co.uk). Also for Android, the old app will remain available until the new app is ready. All transactions, balances and other information is the same for the different apps and website. Thus, there is no difference in price or offerings.