Coinbase Wallet already has support for making swaps on Ethereum and Polygon blockchain and now, the exchange has announced that you can now trade on BNB Chain (formerly Binance Smart Chain) and Avalanche, letting you swap a greater variety of tokens than most traditional centralized exchanges can offer.
Coinbase Wallet brings the expansive world of DEX trading to the users, where you can easily swap thousands of tokens, trade on your preferred network, and discover the lowest fees. Adding support for networks such as BNB Chain, Avalanche, and Polygon means you can trade more tokens, faster, and with more affordable network fees via the wallet, says Coinbase.
“Coinbase Wallet’s in-app DEX makes it easy to access these types of tokens through its trading feature, which compares rates across multiple exchanges through the 0x API and saves you the extra steps along the way“, said the company.
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How to use the DEX trading feature in Coinbase wallet?
Tap the ‘trade’ button in your mobile App or click the ‘swap’ icon in the Browser extension, pick the token you want to exchange and the token you’d like to exchange it for, tap ‘confirm’, and you’re all done.
To trade tokens on a different network, simply tap the network icon in the top right corner of the Wallet mobile app, or click the network name in your browser extension, and select the network you’d like to make your swap on. Before swapping on a network, make sure you have the native token of the network you wish to make a swap on in your wallet to cover the network fees. For example, for a swap on Avalanche, you will need some AVAX in your wallet.
Lastly, Coinbase says that it’ll be making it possible to conduct swaps on an even greater variety of networks. Not only will trading expand, but it is also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks.