HomeCryptocurrencyTrade 1000’s of tokens in your alternative of community in Coinbase Wallet
Trade 1000’s of tokens in your alternative of community in Coinbase Wallet
May 23, 2022
Tl;dr:Coinbase Wallet makes it easy to commerce tokens in your alternative of community. This month, we expanded our buying and selling options to help token swaps on BNB Chain and Avalanche.
By Catherine Shyu Sullivan, Senior Product Manager
More than $1 trillion have been traded on decentralized exchanges (DEXs) in 2021 — a staggering 858% enhance from 2020. Coinbase Wallet brings the expansive world of DEX buying and selling to your fingertips, the place you’ll be able to simply swap 1000’s of tokens, commerce in your most popular community, and uncover the bottom charges.
Today, we’re offering much more causes to commerce on Coinbase Wallet. In addition to creating swaps on Ethereum and Polygon, now you can commerce on BNB Chain (previously Binance Smart Chain) and Avalanche, letting you swap a higher number of tokens than most conventional centralized exchanges can provide.
One Wallet. Multiple Chains. Thousands of tokens.
Decentralized exchanges are peer-to-peer marketplaces that allow transactions to happen instantly between customers, fulfilling certainly one of crypto’s core tenets of fostering monetary freedom with out banks, brokers, or different intermediaries. DEXs additionally present entry to the rising world of web3 by tokens similar to ApeCoin, JOE, PancakeSwap and others.
Coinbase Wallet’s in-app DEX makes it straightforward to entry a lot of these tokens by its buying and selling function, which compares charges throughout a number of exchanges by the 0x API and saves you the additional steps alongside the way in which. Adding help for networks similar to BNB Chain, Avalanche, and Polygon means you’ll be able to commerce extra tokens, sooner, and with extra reasonably priced community charges (learn extra about these here).
DEX buying and selling made straightforward
It’s straightforward to get began with Coinbase Wallet’s built-in DEX buying and selling function. Tap the ‘trade’ button in your cellular app or click on the ‘swap’ icon within the browser extension, decide the token you need to change and the token you’d prefer to change it for, faucet ‘confirm’, and also you’re all set — it’s that fast and straightforward.
To commerce tokens on a unique community, merely faucet the community icon within the high proper nook of the Wallet cellular app, or click on the community title in your browser extension, and choose the community you’d prefer to make your swap on. Before swapping on a community, be sure to have the native token of the community you want to make a swap on in your pockets to cowl the community charges. For instance, for a swap on Avalanche, you’ll need some AVAX in your pockets.
For a extra detailed overview of find out how to use the in-app DEX and generally requested questions, take a look at this Help Center article.
We need to make it simpler so that you can have interaction on the earth of decentralized finance (DeFi) and web3. In the months to return, we’ll be making it potential to conduct swaps on an excellent higher number of networks. Not solely will buying and selling increase, however we’re additionally planning so as to add help for community bridging, permitting you to seamlessly transfer tokens throughout a number of networks. Make certain to follow us on Twitter for the most recent Coinbase Wallet information and product updates.