At El Dorado, we are constantly working to be the most accessible and user-friendly P2P marketplace in Latin America. A fundamental part of this objective is to have the region's main payment methods together with the most popular protocols in the crypto ecosystem.
Today, we're excited to announce that we've added USDT on the Arbitrum network to our platform. Now you can send and receive payments, as well as buy and sell USDT on our P2P marketplace faster and with lower fees.
In this blog we will mainly talk about Arbitrum, its features and why we think it's a great option for our users.
What is Arbitrum?
Arbitrum is a layer 2 solution (Layer 2) that works on top of the Ethereum network. Its main objective is improve speed and reduce transaction costs that are generated on the Ethereum mainnet. This is achieved by processing operations “outside” the main chain (off-chain) and then sending the resulting information back to the Ethereum network.
When was Arbitrum born?
The Arbitrum project began to take shape around 2020, with the help of Offchain Labs, but it was in August 2021 when their main network (Arbitrum One) was officially launched. Since then, it has rapidly gained popularity in the crypto ecosystem, thanks to its scalability, low costs and security.
Who is behind Arbitrum?
Arbitrum is developed by the company Offchain Labs. Its mission is to create an infrastructure that makes Ethereum more scalable and easier to use, without sacrificing security.
In addition, Arbitrum has been adopted by multiple projects and communities within the DeFi (decentralized finance) ecosystem, due to its compatibility with Ethereum Virtual Machine (EVM) and the wide variety of existing development tools.
What are the advantages of Arbitrum?
- Low transaction costs
- Unlike other networks, Arbitrum allows you to carry out operations with much lower fees, making it more profitable to send or receive USDT.
- Higher speed
- By processing multiple transactions outside the main chain, users can enjoy faster transfers.
- Robust security
- Arbitrum inherits much of the security and decentralization of Ethereum. All transactions are ultimately anchored to the Ethereum mainnet, providing a high level of trust.
Why add USDT in Arbitrum to El Dorado?
- Lower costs
- At El Dorado, we understand that our users need to trade with minimal fees. Arbitrum is a great alternative for reducing USDT shipping and withdrawal costs.
- Increased speed
- Transacting on Arbitrum is much faster compared to other networks. With this, the experience of sending and receiving USDT from other platforms is much smoother.
- Strategic alternative
- Having USDT in Arbitrum gives our users more tools to choose the network that best suits their needs.
- Ecosystem growth
- By enabling USDT in Arbitrum, we also open the door for our users to explore DeFi applications and other solutions that use this network.
What else are we doing in El Dorado?
Our team is already working to integrate new networks into our application. If you would like to see a network in El Dorado, you can leave us your comment hither.
Start using USDT in Arbitrum in El Dorado!
With the arrival of USDT in the Arbitrum network, we reaffirm our commitment to being the most complete and accessible P2P platform for Latin America.
You can now buy or sell your first USDC at El Dorado P2P and continue to discover the full potential that an El Dorado account can offer. Download the app available at Android and iPhone.
