At Bit2Me, we continue to work to offer our users an increasingly complete suite of services by expanding and improving our product offering and features every day. At this point, we have taken a huge leap in quality with the launch of the Polygon blockchain integration for Bit2Me Wallet, a scalability solution for Ethereum that brings really interesting new advantages for our users thanks to the great versatility of the network and, above all, its minimal transaction fees.
From now on, Bit2Me users can deposit and withdrawAAVE, DAI, BLOK, LINK, MATIC, SUSHI, USDC, USDT, ETH (wETH), and B2M via the Polygon network.
In addition, over the next few weeks, we plan to add new cryptocurrencies for deposits via Polygon. Similarly, the integration of new networks is also planned for this coming month.
What Is Polygon and What Does This Integration Bring?
Polygon is a scalability project that enables decentralized apps to run on a blockchain with much lower fees, faster speed, and better interoperability when compared to the Ethereum network.
By implementing this new integration into the Bit2Me wallet, users will have an alternative solution to the currently overloaded Ethereum network. It is an excellent opportunity for Bit2Me users to have new options and for new users to start using the services of our suite without having to leave this ecosystem due to its costs and limitations.
The Polygon network uses Proof-of-Stake for its sidechain and Plasma smart contracts for the sidechain’s link to the Ethereum mainnet. Its infrastructure allows for greater network scalability and a much lower cost per transaction.
For Bit2Me users, this integration means the possibility to deposit via the Polygon network for lower costs. Before this integration, users had to withdraw funds from Bit2Me to a Layer 1 Wallet and then transfer them to the Polygon network, for which they had to pay two fees. But, with the integration of Polygon, these costs are reduced, and the process becomes much more straightforward.
Users will have a much faster and more efficient experience when it comes to moving their cryptocurrency funds to the Polygon network and putting them on Bit2Me Earn, for example, to generate rewards.
With the integration of Polygon, Bit2Me users can transfer and withdraw AAVE, DAI, BLOK, LINK, MATIC, SUSHI, USDC, USDT, ETH (wETH), and B2M on the Polygon blockchain, the first Bit2Me-compatible scaling network for transferring crypto assets.
Over the next month, Bit2Me users will be able to deposit and withdraw these cryptocurrencies, and there are plans to add new cryptocurrencies for making deposits and withdrawals via Polygon. It is also worth noting that this integration with Polygon is the first time Bit2Me has enabled the possibility to send and receive these assets on a commit chain or full-stack scaling solution, which is a new line of action to offer new services and increasingly efficient features to Bit2Me users.