I'm trying to get an ESP8266 WiFi module working with my Arduino. However, Arduino's output 5v and the ESP8266 needs 3.3v for it's logic. I've heard some people say that the 5v logic scale and the 3.3v logic scale are interchangeable and doesn't matter but others say it could fry your module. So I decided to try to play it safe and ask you guys.
So, how can I convert the Arduino's 5v down to 3.3v without lowering amperes because the ESP8266 draws >200mA? Also, I'd prefer not to buy a Level shifter, but if it is necessary by all means I'll get one.