Coinbase Expands Swap Service to Support BNB Chain and Avalanche
Updated · May 24, 2022
Users can now “trade thousands of tokens” in the Coinbase Wallet.
Networks Doubled to Four
Coinbase has added smart contracts platforms BNB Chain and Avalanche to the list of supported networks for Coinbase Wallet. As a result, users can store and swap cryptocurrencies that it does not list on its main exchange.
Coinbase is the top crypto exchange in the United States in terms of trading volume and is also among the largest worldwide.
“In addition to making swaps on Ethereum and Polygon, 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,” it said in a statement.
With this new rollout, Coinbase now supports a total of four networks, including the most widely used – Polygon and Ethereum. All four are available on its native decentralized exchange (DEX).
DEXs are online exchanges that allow secure peer-to-peer (P2P) crypto transactions without the need for an intermediary. While Coinbase only has 173 tokens listed on its more traditional platform, users can access thousands more through supported networks.
Currently, token bridging is not available. However, Coinbase plans to change that in the future.
“Not only will trading expand, but we’re also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks.”
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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