how to swap coins on coinbase wallet

To swap coins on Coinbase Wallet, users can follow the detailed guide that involves setting up the wallet, funding it, selecting the desired coins, inputting swap details, confirming and approving the transaction, and monitoring its completion.

Nov 02, 2024 at 06:24 pm

How to Swap Coins on Coinbase Wallet

Coinbase Wallet is a self-custodial cryptocurrency software wallet that allows users to store, send, receive, and trade crypto assets. Here's a detailed guide on how to swap coins on Coinbase Wallet:

1. Set Up Coinbase Wallet:

   • Download the Coinbase Wallet app on your mobile device.
   • Create an account or log in to your existing Coinbase account.

2. Fund Your Wallet:

   • Add crypto assets to your wallet by purchasing them or transferring them from another wallet or exchange.

3. Go to Swap:

   • Tap on the "Swap" tab at the bottom of the main screen.
   • Select the coins you want to swap (Sell) and receive (Buy).

4. Input Swap Details:

   • Enter the amount you want to swap.
   • The estimated swap rate and fees will be displayed.
   • Review the details carefully.

5. Confirm and Approve:

   • Tap on "Review Swap" and double-check the details.
   • If everything looks correct, tap on "Confirm Swap."
   • Approve the transaction in the pop-up window.

6. Monitor the Swap:

   • The swap takes a few seconds to complete.
   • You can track the status in the "Trades" tab on the main screen.

Tips:

• Choose the best available exchange rate by comparing offers from multiple liquidity providers.
• Check the fees associated with the swap and consider both the exchange fee and the network fee.
• Monitor the market conditions and swap when the prices are favorable.
• Use caution and only swap reputable and well-established crypto assets.
• Keep your recovery phrase safe as it's necessary to recover your funds in case of a wallet loss or theft.