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How to Obtain WETH + ETH (on Arbitrum or Base) for Your Self-Custody Wallet: Step-by-Step Guide
29/11/2024

How to Obtain WETH + ETH (on Arbitrum or Base) for Your Self-Custody Wallet: Step-by-Step Guide

Step 0: Create a Self-Custody Wallet

To participate, a self-custody wallet is required. If you already have one, you can skip to Step 1.

On Mobile: Download wallet applications like MetaMask or Coinbase Wallet from your app store.

On Browser: Install a browser extension wallet like MetaMask.

Complete the setup process within the app or extension. Ensure you save your seed phrase securely and do not share it with anyone!

Step 1: Buy or Transfer ETH to Your Wallet

To take part in the ICN node sale, you’ll need:

  • ETH: To cover transaction (gas) fees.
  • WETH: To purchase ICN Node NFTs.

If You have an account on a Centralized Exchange:

  1. Log in to your custodial exchange (e.g., Coinbase, Kraken, Binance).
  2. If you don't have ETH on your account, trade other tokens or deposit the needed ETH amount. See below.
  3. Navigate to the "Withdraw" section and select ETH.
  4. Enter your self-custody wallet address (the one you plan to use to buy Nodes) and confirm its accuracy.
  5. Choose the withdrawal network
    • Arbitrum/Base: If your Exchange support these networks, please select the one you plan to use in the Node Sale.
    • Ethereum: Only if Arbitrum/Base is not available as a withdrawal network. You'll then have to bridge your ETH (please note: that will increase your gas fees).

If You Don’t Have ETH Yet:

  1. Sign up on exchanges like Coinbase or Kraken (KYC verification may be required).
  2. Purchase ETH using your preferred payment method (credit card, bank transfer, etc.).
  3. Transfer ETH to your self-custody wallet (see above).

Step 2: Transfer ETH to the Correct Network (Arbitrum/Base)

If your ETH is already on Arbitrum/Base, you can skip this step. Otherwise, follow these instructions:

Choose a Bridge: Use a bridging protocol such as Portal Bridge to transfer ETH from Ethereum to Arbitrum/Base.

  1. Connect your Wallet.
  2. Bridge Your ETH (Ethereum) to ETH (Arbitrum/Base)
    • Source Chain: Ethereum (Currency: ETH)
    • Destination Chain: Arbitrum/Base (Currency: ETH)

Step 3: Convert ETH (Arbitrum/Base) to WETH (Arbitrum/Base)

Once your ETH is on Arbitrum/Base, the next step is converting ETH to WETH. Be sure to keep some ETH to pay for Gas.

Choose a Decentralized Exchange (DEX): Use platforms like Uniswap on the Arbitrum/Base network.

  1. Connect your wallet.
  2. Swap ETH for WETH
    • Input: ETH (Arbitrum/Base)
    • Output: WETH (Arbitrum/Base)

You’re Ready to Buy an ICN Node!

With WETH and ETH in your self-custody wallet on the Arbitrum/Base network, you are now ready to participate in the ICN node sale.

For a more detailed guide on purchasing an ICN Node, visit: ICN Node Purchase Guide