How to swap tokens inside your Coinbase Wallet?

Accessing the Swap Feature in Coinbase Wallet

1. Open the Coinbase Wallet application on your mobile device and ensure you are logged into your account. The interface is designed for intuitive navigation, allowing users to access core features with minimal effort.

2. Tap on the 'Assets' tab located at the bottom of the screen. This section displays all tokens currently held in your wallet, including Ethereum, Bitcoin, stablecoins, and various ERC-20 tokens.

3. Select the token you wish to swap by tapping on it. A detailed view will appear, showing the balance, price chart, and available actions such as Send, Receive, and Swap.

4. Click the Swap button to proceed. This opens the swap interface where you can choose the destination token and view estimated exchange rates.

Selecting Tokens and Reviewing Exchange Rates

1. In the swap interface, the source token is pre-selected based on your previous choice. Below it, tap “Choose token” to browse or search for the cryptocurrency you want to receive.

2. Enter the amount you’d like to swap in either the send or receive field. The app automatically calculates the equivalent value using real-time market data from integrated decentralized exchanges.

3. The platform displays the estimated output, transaction fee, and slippage tolerance. Slippage is typically set between 0.5% and 1%, helping to prevent failed transactions during periods of high volatility.

4. Review the network fee listed in ETH, as swaps occur on the Ethereum blockchain or supported Layer 2 networks. Fees fluctuate depending on congestion and gas prices at the time of execution.

5. If the rate seems unfavorable, consider waiting for better market conditions or adjusting the slippage setting cautiously under advanced options.

Confirming and Finalizing the Transaction

1. Once satisfied with the details, tap “Preview Swap” to see a summary of the transaction, including the exact amounts, fees, and destination address.

2. Confirm that the receiving token is compatible with your wallet and that you have sufficient ETH to cover gas fees. Attempting a swap without enough ETH for gas will result in a failed transaction.

3. Press “Confirm Swap” to initiate the transaction on the blockchain. The wallet will prompt you to authenticate using Face ID, fingerprint, or your passcode.

4. After confirmation, the app displays a pending transaction indicator. You can view progress in the activity feed, where the status updates from “Pending” to “Completed.”

5. Swaps are irreversible once confirmed. Ensure accuracy in token selection and amounts before proceeding, as there is no recourse for accidental trades.

Frequently Asked Questions

How long does a token swap take in Coinbase Wallet?Most swaps complete within 30 seconds to two minutes, depending on network congestion and gas fees. During peak times, delays may occur due to high Ethereum blockchain traffic.

Are there any hidden fees when swapping tokens?The only costs involved are the network transaction fee paid in ETH and potential price slippage. Coinbase Wallet does not charge additional service fees for swaps.

Can I swap NFTs using the same process?No, NFTs cannot be swapped through the token swap function. They must be traded separately via NFT marketplaces integrated into the wallet’s dApp browser.

What happens if my swap fails?Failed swaps usually result from insufficient gas or extreme price changes exceeding slippage tolerance. In such cases, the original tokens remain in your wallet, but the gas fee is still deducted.