Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

2025-05-21

Texas Bitcoin Reserve Bill knew the most important legislative obstacles, waiting for the final vote

2025-05-21

XRP – Price coil for an outbreak – is the next leg on hands?

2025-05-21
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

    2025-05-21

    Smarter athlete data via PSG Labs and Joint Innovation Studio

    2025-05-21

    Sahara AI launches Siwa Testnet to authorize decentralized AI builders

    2025-05-21

    WalletConnect’s Smart Sessions ‘Redefine’ Wallet UX for Future or AI agents: Founder

    2025-05-21

    Adventure Layer is launched as First Gaming L2 on Berachain

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

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

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP – Price coil for an outbreak – is the next leg on hands?

    2025-05-21

    Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

    2025-05-21

    JPMorgan Chase CEO warns the stock market witnessing ‘extraordinary amount of complacency’ in the midst of abrupt recovery

    2025-05-21

    Cardano (ADA) in Focus: Can it break this barrier and recover Momentum?

    2025-05-21

    Trader warns Bitcoin (BTC) blinking bearish signal, says gold that steam collects for the next leg up

    2025-05-20
  • Learn

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Blockchain»How to buy, sell and trade tokens on the Optimism Network
Blockchain

How to buy, sell and trade tokens on the Optimism Network

2024-01-22No Comments9 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Optimism (OP) is a Layer 2 network that solves Ethereum’s scalability problems, giving users low fees and faster transactions. Scalability and low gas rates have always existed Ethereum‘s biggest problems. This is because, in the midst of crypto’s trilemma, where security, decentralization and scalability are not equal, Ethereum has chosen more security than decentralization and more decentralization than scalability to focus on. This is the reason Ethereum has many low 2s to solve the scalability issues.

Over the years, people have had to spend huge amounts of ETH gas to make a transaction, but back then no one cared because the value of ETH was small. For example, if you spend 0.001 ETH when ETH was worth $300, that means you spent $0.03 in gas fees, which was cheap.

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

Related reading: Buy, sell and trade tokens on the BSC network

OP network is one of the Layer 2 solutions for ETH

What better way to solve this problem than by introducing the Ethereum Layer 2s, which will give you almost the same features as Ethereum, but is expected to be better at what Ethereum lacks. Ethereum is lacking in terms of scalability, some layers of layer 2 help fill the void, others do not. One layer 2 Ethereum chain that helps feel the emptiness is the Optimism chain.

Ethereum is great, but imagine if you don’t want to transact on-chain because you think the gas costs are too expensive. It’s like spending $50 in delivery fees to buy a $10 item. Although Ethereum has strong security, some people still dislike the expensive gas fees and decide to build on other chains.

Optimism (OP) Network benefits: Cheap gas rates and lightning-fast transaction speed

Optimism is an Ethereum combination known for its cheap gas fees and lightning-fast transaction speed. If you use the chain to transact, you will appreciate it immensely and will want to transact on the chain on a regular basis.

Related reading: How to Buy and Trade Tokens on the SEI Network

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

See also  Rabbit partners with BEBE to drive innovation in AI, GameFi and Crypto

Important things to know about the Optimism Ecosystem:

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

The Optimism mainnet chain uses Optimism ETH, opETH, for gas rates. Tokens on the chain are sometimes represented as opX, where X represents the token. For example, if you have Bitcoin in the Optimism chain, it will be shown as opBTC, so Ethereum in the Optimism chain is opETH.

How to buy, sell and trade tokens on the optimism chain or network:

To purchase a token on the Optimism chain you will need Optimism ETH; you can obtain OPETH in two ways: the centralized way or the decentralized way. Let’s talk about the centralized way first, because it doesn’t take much effort.

Related reading: Celestia Network: Leveraging TIA and position for 5-digit airdrops

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

Decentralized Way to Buy Optimism (OP)

To get opETH the decentralized way, you need to know which wallets to use. Optimism network supports various EVM wallets. Here are some EVM wallets compatible with the Optimism network; we have Metamask, 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 many more. See here for the full list Optimism ecosystem portfolios.

How to build a bridge to the Optimism Network:

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

You can also get native ETH by purchasing directly from Metamask this way:

Go to Metamask Portfolio and connect your Metamask wallet or any EVM wallet. Choose your location and select a payment method. Then you can select the coin you want to do. This method gives you a variety of coins in different chains.

You can select ETH on the optimism chain and easily obtain the ETH on the optimism chain. This way it will be easier for you to get ETH on Optimism chain or any other chain without using a centralized crypto platform. The disadvantage of this is the spread; you can spend as little as $100 to end up with $75 worth of ETH, and the rest is used for fees.

See also  Understanding Bitcoin Price Dynamics Amid Record High Network Issues

However, if you already have native ETH or ETH on Arbitrum or another layer 2 chain, you can bridge in two ways.

Bridging using the Optimism native bridge: This allows you to bridge the gap between the available ETH networks and the Optimism network. This bridge primarily supports bridging native ETH to optimism, but does not primarily support other chains of the optimism chain. So it uses secondary bridging platform like hop protocol, stargate and more.

Related reading: How to Bridge and Trade on the Injective (INJ) Network

The habits Optimism bridge is quite simple, but you must have native ETH in your wallet. Go to the site, connect your wallet to the site and view the deposit.

The review deposit shows that you have to pay a gas fee to the optimism chain. This gas fee is for the optimism chain, and after you pay it, you will have to pay another gas fee to initiate the transaction, depending on the gas fee congestion at that time.

For example, the gas fee congestion states that I have to pay an extra $8.51 because the Ethereum chain has high gas fees.

So if you do the math, you’ll find that we spent over $16 just to build the bridge from the Ethereum mainnet to the optimism chain. Therefore, we need to consider the other bridging option, which is bridging using the secondary bridging platforms.

There are several secondary bridging platforms you can use, and each has its own bridging fees.

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

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

Related reading: Solana Meme Coins: A Guide to Buying, Trading and Profiting from SOL Investments

Enter their sites from the Optimism bridging appschoose one of your choices, connect to your wallet, select which network you want to bridge to the optimism chain, approve and bridge.

How to find and trade tokens in the optimism chain:

With your optimism, ETH in your wallet, let’s trade. To trade 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.

See also  Why the $ 100 million movement of PI Network does not think about the price of PI

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

You can see different tokens that you can trade in the optimism chain. If you have a specific optimism token in mind, you can type its name into the search button. If you don’t know the name of the token but have the smart contract address, you can enter that too and the token will be displayed.

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

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

Related reading: Buy, sell and trade tokens on the BSC network

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

Check the Optimism Defi section to select which DEX you want to use. People usually use the Uniswap DEX, 1INCH DEX and Sushi Swap.

Let’s use SushiSwap to show you how to trade Optimism Tokens on the Optimism Network. Go to the SushiSwap change section. Connect your wallet and change the network to the Optimism Network.

To trade ETH for an optimism token, click on the denominator side, enter the token’s contract address, and approve the token. Now you can act.

Related reading: How to Buy and Trade Tokens on the SEI Network

Conclusion

The Optimisim Network is just like any other decentralized network when it comes to trading and purchasing these tokens comes with its own unique risks. Many tokens on decentralized exchanges are new and therefore untested. So when you trade these tokens, you are always risking what you are willing to lose in case a project turns out to be a scam or a carpet.

Featured image from Smart Valor

Disclaimer: The article is for educational purposes only. It does not represent NewsBTC’s views on buying, selling or holding investments and of course investing involves risks. You are advised to conduct your own research before making any investment decisions. Use the information on this website entirely at your own risk.

Source link

Buy Network Optimism Sell Tokens Trade
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

2025-05-21

Smarter athlete data via PSG Labs and Joint Innovation Studio

2025-05-21

Sahara AI launches Siwa Testnet to authorize decentralized AI builders

2025-05-21

WalletConnect’s Smart Sessions ‘Redefine’ Wallet UX for Future or AI agents: Founder

2025-05-21
Add A Comment

Comments are closed.

Top Posts

Tarief break Sparks Crypto Rally: Bitcoin is at the top $ 82k, ETH and XRP Surge 13%

2025-04-10

Taiwanese financial supervisor will propose a law that would enable banks to issue stable coins: report

2025-01-25

Bitcoin: Assessing the Role of US Institutions in BTC’s ATH Rise

2024-12-06
Editors Picks

XRP is up 12% as Crypto celebrates an 11-year milestone

2023-06-04

Bitcoin Suffers Massive Drop on BitMEX, Is the Rally Over?

2024-03-19

Is there a silver lining for investors?

2024-10-12

Making privacy solutions EVM compatible is key to integrating them with Blockchains and Dapps — Guy Itzhaki

2023-12-22
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

Texas Bitcoin Reserve Bill knew the most important legislative obstacles, waiting for the final vote

XRP – Price coil for an outbreak – is the next leg on hands?

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$109,081.552.80%
  • ethereumEthereum(ETH)$2,564.922.73%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.412.61%
  • binancecoinBNB(BNB)$668.743.33%
  • solanaSolana(SOL)$172.863.47%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2329725.19%
  • cardanoCardano(ADA)$0.774.97%
  • tronTRON(TRX)$0.271840-0.46%
  • suiSui(SUI)$3.992.80%
  • chainlinkChainlink(LINK)$16.194.07%
  • avalanche-2Avalanche(AVAX)$23.365.13%
  • hyperliquidHyperliquid(HYPE)$28.017.69%
  • stellarStellar(XLM)$0.2953924.33%
  • shiba-inuShiba Inu(SHIB)$0.0000153.87%
  • hedera-hashgraphHedera(HBAR)$0.1997182.92%
  • unus-sed-leoUNUS SED LEO(LEO)$8.810.61%
  • bitcoin-cashBitcoin Cash(BCH)$407.985.23%
  • the-open-networkToncoin(TON)$3.100.96%
  • polkadotPolkadot(DOT)$4.804.29%
  • litecoinLitecoin(LTC)$96.992.93%
  • moneroMonero(XMR)$374.237.89%
  • bitget-tokenBitget Token(BGB)$5.251.87%
  • pepePepe(PEPE)$0.0000149.21%
  • piPi(PI)$0.8211.42%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.308.69%
  • bittensorBittensor(TAO)$443.266.92%
  • aaveAave(AAVE)$255.26-2.71%
  • nearNEAR Protocol(NEAR)$2.895.86%
  • aptosAptos(APT)$5.294.35%
  • okbOKB(OKB)$52.581.31%
  • ondo-financeOndo(ONDO)$0.984.57%
  • kaspaKaspa(KAS)$0.1137684.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.7210.94%
  • ethereum-classicEthereum Classic(ETC)$19.055.05%
  • internet-computerInternet Computer(ICP)$5.394.42%
  • gatechain-tokenGateToken(GT)$21.711.53%
  • crypto-com-chainCronos(CRO)$0.0978852.16%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2421065.00%
  • vechainVeChain(VET)$0.0292575.70%
  • mantleMantle(MNT)$0.750.34%
  • render-tokenRender(RENDER)$4.814.99%
  • ethenaEthena(ENA)$0.4041289.48%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • arbitrumArbitrum(ARB)$0.4134426.53%
  • algorandAlgorand(ALGO)$0.2305584.58%
  • filecoinFilecoin(FIL)$2.954.61%
  • bitcoinBitcoin(BTC)$109,081.552.80%
  • ethereumEthereum(ETH)$2,564.922.73%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.412.61%
  • binancecoinBNB(BNB)$668.743.33%
  • solanaSolana(SOL)$172.863.47%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2329725.19%
  • cardanoCardano(ADA)$0.774.97%
  • tronTRON(TRX)$0.271840-0.46%
  • suiSui(SUI)$3.992.80%
  • chainlinkChainlink(LINK)$16.194.07%
  • avalanche-2Avalanche(AVAX)$23.365.13%
  • hyperliquidHyperliquid(HYPE)$28.017.69%
  • stellarStellar(XLM)$0.2953924.33%
  • shiba-inuShiba Inu(SHIB)$0.0000153.87%
  • hedera-hashgraphHedera(HBAR)$0.1997182.92%
  • unus-sed-leoUNUS SED LEO(LEO)$8.810.61%
  • bitcoin-cashBitcoin Cash(BCH)$407.985.23%
  • the-open-networkToncoin(TON)$3.100.96%
  • polkadotPolkadot(DOT)$4.804.29%
  • litecoinLitecoin(LTC)$96.992.93%
  • moneroMonero(XMR)$374.237.89%
  • bitget-tokenBitget Token(BGB)$5.251.87%
  • pepePepe(PEPE)$0.0000149.21%
  • piPi(PI)$0.8211.42%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • uniswapUniswap(UNI)$6.308.69%
  • bittensorBittensor(TAO)$443.266.92%
  • aaveAave(AAVE)$255.26-2.71%
  • nearNEAR Protocol(NEAR)$2.895.86%
  • aptosAptos(APT)$5.294.35%
  • okbOKB(OKB)$52.581.31%
  • ondo-financeOndo(ONDO)$0.984.57%
  • kaspaKaspa(KAS)$0.1137684.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.7210.94%
  • ethereum-classicEthereum Classic(ETC)$19.055.05%
  • internet-computerInternet Computer(ICP)$5.394.42%
  • gatechain-tokenGateToken(GT)$21.711.53%
  • crypto-com-chainCronos(CRO)$0.0978852.16%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2421065.00%
  • vechainVeChain(VET)$0.0292575.70%
  • mantleMantle(MNT)$0.750.34%
  • render-tokenRender(RENDER)$4.814.99%
  • ethenaEthena(ENA)$0.4041289.48%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • arbitrumArbitrum(ARB)$0.4134426.53%
  • algorandAlgorand(ALGO)$0.2305584.58%
  • filecoinFilecoin(FIL)$2.954.61%