We are excited to announce an important update to the Wallet app! The self-custodial BitPay Wallet now supports three new Ethereum Layer 2 networks: Arbitrum, Optimism, and Base. And to maximize the usefulness of this innovative network, we’ve revamped the app UI to make it easier to manage all your assets. These improvements aim to provide users with faster, cheaper, and more efficient transactions with both an intuitive user experience and the progressive features the BitPay community loves.
Make sure you’re using the latest app version to take advantage of all these great benefits!
What can you do with Arbitrum, Optimism, and Base?
- Explore: Connect your self-managed BitPay Wallet to Web3 and decentralized finance apps.
- Keep it safe: Keep your cryptocurrency assets safe with BitPay’s self-custodial wallet with industry-leading security features.
- Buy: Easily check market prices and purchase a variety of tokens supported through our network of partner platforms.
- sell: Get competitive offers for your property and sell it for cash through our partner platforms.
- exchange: Access a wide range of supported tokens and exchange cryptocurrencies through trusted exchange providers.
- Send/Receive: Send and receive P2P transactions quickly and securely.
The best self-custodial wallet to store and connect your assets.
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Updated BitPay wallet UI
In addition to now supporting Arbitrum, Optimism, and Base, we’ve refreshed the BitPay wallet app UI to make it easier to manage and use multiple networks in one wallet. Key changes currently available in the BitPay Wallet app include:
EVM Account Wallet
Store, manage and leverage all your Ethereum and Layer 2 assets in one place with an EVM account.
Simplified wallet creation
When creating or importing a wallet, choose between UTXO, account-based, or multi-sig wallets.
Token auto-detection
Tired of manually adding tokens to your Web3 wallet? BitPay Wallet now automatically detects tokens transferred to your EVM account, making cryptocurrency management easier than ever.
Better sorting and filtering by chain
For multichain users, they can easily switch from network to network to more seamlessly manage and leverage all their assets.
This is just the beginning. More improvements and features are coming soon to help you get the most out of your wallet!
What this all means to you
Key benefits provided by this update include:
- Improved usability: Seamlessly interacts with Web3 dApps and platforms to extend the usability of cryptocurrencies.
- speed: Eliminate long waiting times and enjoy nearly instantaneous transactions over Layer 2 networks.
- Cost-effective: Transaction fees have been drastically reduced, making everyday transactions more affordable and practical.
- More networks and tokens: Store, manage, and use hundreds of tokens across more layer 2 networks.
Background on new L2 networks
decision
Launched in 2021, Arbitrum is known for its efficient rollup technology that improves transaction speeds and reduces costs on the Ethereum network. Its unique approach to scaling solutions has made it a popular choice for developers and users alike.
Learn more about Arbitrum
optimism
Optimism, one of Ethereum’s earliest layer 2 solutions, focuses on improving throughput and reducing transaction fees. Optimistic rollup technology ensures fast and secure transactions, making it a strong choice for DeFi applications.
Read more about optimism
base
Developed by Coinbase, Base is a layer 2 network designed to provide a secure, affordable, and developer-friendly environment for building decentralized applications. This product stands out in a layer 2 environment with its strong support and innovative design.
Read more about bass
What’s next?
In the coming months, we will be adding support for using tokens for Arbitrum, Optimism, and Base across the BitPay payment platform. This includes paying merchants, purchasing gift cards, paying bills, and sending bulk payments.
Stay tuned for more updates as we continue to expand network support and deliver more features to enhance your cryptocurrency experience. Our ongoing efforts aim to support more networks and improve our platform to keep BitPay at the forefront of the broad world of cryptocurrencies.