Navigating Base: Your In-Depth Guide to Obtaining ETH on the Base Network
What is Base Network, and how can you acquire ETH on Base Network?
Base is a recently launched Optimistic Rollups Layer 2 solution built by Coinbase. It serves as a secure, cost-effective, and developer-friendly Ethereum Layer 2 solution with the goal of expanding blockchain adoption.
Now, if you’re looking to acquire Ethereum (ETH) on the Base Network, you have two primary methods, fiat to ETH and bridging from the Ethereum network. Bump up your confidence as you delve into acquiring Ethereum (ETH) on the Base Network, and may this guide be your reliable companion on the path to a successful and seamless process.
Acquiring ETH through Fiat
Select Fiat-to-Crypto Provider.
Choose from one of these reputable fiat-to-crypto providers to convert your fiat currencies into ETH on Base. Here are the major providers:
To acquire ETH on the Base network, please select ETH as the cryptocurrency you wish to buy, and more critically, select the BASE network. Please ensure that you enter the correct wallet address and correct network. Please note some providers may ask you to perform KYC in order to complete the purchase.
Bridging ETH from Ethereum to Base
If you already have ETH (ERC20 on Ethereum Network) in your wallet, you may opt to bridge the ETH to the Base Network and begin minting. In order to do so, please follow these steps.
Visit the Bridge Base page.
This will help you to transfer your assets back and forth between Ethereum and Base.
Connect your wallet.
You may use Ethereum wallets such as Coinbase Wallet, Metamask, Rainbow Wallet, or another wallet to connect to the Base Bridge.
Initiate Bridge.
Select the amount of ETH to bridge.
Confirm the transaction on the Ethereum network involving payment of gas fees.
Viola! Now, wait for the transaction to be completed.
Adding Base Blockchain
To add a Base as a custom network on MetaMask
- Open the wallet
- Open the network selection dropdown menu by clicking the dropdown button at the top of the extension.
- Click the Add Network Button
- Click Add a Network Manually
- In the Add a Network Manually, enter the following:
- Network Name: Base Mainnet
- Description: The public mainnet for Base.
- RPC Endpoint: https://mainnet.base.org
- Chain ID: 8453
- Currency Symbol: ETH
- Block Explorer: https://basescan.org
6. Save Button
You should now be able to connect to the Base by selecting it from the network selection dropdown menu.
When engaging in transactions on the Base Network, it’s essential to be aware of associated fees. Network fees cover the necessary gas costs on both the Ethereum and Base blockchains, ensuring the smooth processing of your transactions. Notably, utilizing the Base Bridge incurs no additional fees beyond these standard network costs.
Once a withdrawal has been initiated on the Withdraw page, it becomes irreversible, and the process must be allowed to complete. As a security measure, the Base Network implements a seven-day bridge duration, serving as a challenge period and enhancing the overall security of transactions within the OP Stack. If you’re seeking a more expedited withdrawal process, an alternative option is to explore third-party bridges, providing a quicker route for completing your transactions. This flexibility caters to users who may prioritize swifter transaction times over the built-in challenge period of the Base Bridge.
