How to Bridge ETH to Avalanche
The best way to bridge ETH from Ethereum to Avalanche is through Synapse Protocol. When you send ETH from Ethereum to Avalanche, the token you will receive in your Avalanche wallet will be WETH.e (Wrapped Ethereum). Follow the below steps to get started:
- Visit the Synapse protocol, tap 'Connect Wallet', choose MetaMask and connect to the platform.
- Go to 'Bridge' and select 'Ethereum' and 'Avalanche' as your two networks.
- Select a token to bridge and input the amount you wish to transfer to Avalanche.
- Click 'Bridge', then accept the prompts in your MetaMask extension and your funds will arrive within minutes.
ETH to AVAX Bridging Fees
When bridging your ETH to AVAX from the Ethereum Chain to the Avalanche C-Chain, you will need to consider the following fees that are involved.
- Bridging Fee: This is a small fee that the platform takes, and for Synapse it is a low 0.01%.
- Network Transaction Fee: This is charged to cover the cost of gas and varies depending on network congestion.
Both transactions will cost you up to $30AUD to move your funds over to the Avalanche network. However, once your funds have arrived to the Avalanche network, the costs to move funds around comes to about 0.2 cents per transaction. The gas fees on the Avalanche network are significantly lower than the fees on the Ethereum network.
What is WETH.e on AVAX?
WETH.e is wrapped Ethereum (WETH) on the Avalanche C Chain network. When you bridge your ETH to AVAX, it stores it in a wallet and provides Avalanche users with a wrapped token that is transferrable on the Ethereum blockchain. 1 WETH.e represents a share in 1 Ethereum token, so the price is exactly the same and you don't lose any money.
The Bottom Line
The best way to bridge your ETH from Ethereum to Avalanche is by using Synapse Protocol. By going through Synapse, you can quickly and securely move your tokens between the two networks with minimal fees.
Once your funds are on the Avalanche network, you'll be able to take advantage of its lower transaction costs for all future transactions. In addition, you can use WETH.e to move ETH on Avalanche, allowing you to transfer your funds more freely between the two networks.