As the demand for various blockchains for different web3.o technologies grow, so does the need for these blockchains to interact appropriately.
Blockchain is a distributed ledger technology that employs cryptography to guarantee data and transaction reliability and integrity. Blockchain networks enable various services such as secure databases, immutable ledgers, decentralized applications, decentralized finance, nonfungible tokens, and cryptocurrencies.
Bitcoin, Ethereum, Avalanche, Polygon, Solana, and Arbitrium are a few blockchain networks and cryptocurrencies that leverage various blockchain technology.
Crypto bridges provide the needed interoperability for these blockchains to interact with each other. One of the most popular crypto bridges today is the Polygon Bridge.
Why do we need the Polygon bridge?
One of the main problems with L1 blockchains like Ethereum is congestion. This happens because there are often too many transactions taking place on the network at once. As a consequence, transaction speeds are slower and transaction fees are high.
By handling more transactions at lower prices, L2 blockchains address this issue and lighten the load on L1 blockchains.
An example of an L2 blockchain built on Ethereum, is Polygon. It allows for the creation of NFTs and offers quicker transactions with cheaper gas costs. Additionally, it aids in the creation and distribution of DApps in a safe and effective way.
In order to avoid paying huge gas fees, we often need to shift our virtual assets from one L1 to an L2 blockchain. A bridge that works with Ethereum called Polygon Bridge makes it possible to move your funds from L2 blockchains to Ethereum and the other way around.
Users can send ERC tokens and NFTs to the Polygon sidechain instantly by using the Polygon Bridge.
How to Bridge your Crypto from ERC 20 to Polygon
It would help if you had a suitable cryptocurrency wallet, such as Metamask, to bridge tokens from Ethereum to Polygon. Follow the instructions in this guide to establish a Metamask wallet if you don't already have one. Additionally, you'll need to get the Metamask browser extension and install it.
You need a compatible wallet like Metamask to bridge tokens from Ethereum to Polygon. You will have to download and register on the Metamask wallet if you don’t have one. Then download the chrome browser extension for your Metamask.
- Login to the Polygon website wallet and click the “Polygon Bridge” option.
- Then connect your crypto wallet by clicking on the Metamask option (after successfully creating a Metamask wallet for yourself).
- You must sign a message to link your Metamask wallet to your Polygon wallet. It is free to sign. Click “Sign" to continue after ensuring you are on the right Polygon website by confirming the website address.
- You will be redirected to the polygon bridge to swap your cryptocurrency and start swapping your ERC20 token to the Polygon network.
- Then click on “Deposit.” Choose the ERC token you would like to bridge to Polygon. Select the amount of the token and click on “Transfer.”
- A warning note then pops up on your screen. It informs you about the “do’s and don’t” on the Polygon bridge.
- Click “Continue” to proceed with your transaction.
- Then you will see the gas needed to complete your transaction. This depends on the number of people using the network at this point. If there is congestion on the network, the gas fee might be slightly higher than the usual amount. Click “Continue.”
- The next tab is for you to double-check your transaction details (the amount and the gas fees) before finalizing the transaction. Click on “Continue.”
- Then you will see a prompt similar to the “sign signature” prompt you saw when connecting your wallet. Check the details and click “Confirm.”
- You can monitor your transaction live on Etherscan.
PS: When bridging your crypto from the Polygon bridge back to the Ethereum network, it usually takes less than 2 hours to get your cryptos to arrive in your wallet.
Although the Polygon bridge has its annoyances, it is one of the most accessible and versatile DApps to bridge your crypto from the Ethereum blockchain to Polygon.
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