Coinbase Now Lets Users Make Swaps on BNB Chain and Avalanche - Besides Ethereum and Polygon, users can now swap and store cryptocurrencies on BNB Chain and Avalanche.

    One more reason for users to trade on Coinbase Wallet. According to a May 24 blog post, the largest US crypto exchange Coinbase is pleased to announce it has added BNB Chain and Avalanche to the list of supported networks for Coinbase Wallet, allowing users to swap multiple tokens than most traditional centralized exchanges can offer.

    Decentralized exchanges are peer-to-peer marketplaces that allow transactions to occur directly between users, promoting financial freedom without banks, brokers, or other intermediaries. DEX also provides access to the emerging web3 world through tokens like ApeCoin, JOE, PancakeSwap and others.

    Coinbase Wallet’s in-app DEX makes these tokens easy to access through its trading feature that compares rates across multiple exchanges via API 0x, and saves you extra steps along the way. The expansion of trading features has brought the total number of networks supported to four, including Ethereum (ETH), Polygon (MATIC), BNB Chain (BNB) and Avalanche (AVAX).

    Coinbase currently only has 173 tokens listed on its exchange. However, this number will reach thousands after Coinbase supports token swaps on BNB Chain and Avalanche. The exchange claims that in the coming months, they will make it possible to do swaps on even more networks.

    “Not only will trading expand, but we are also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks.”

    Network bridging involves sending tokens between networks without going through a centralized exchange (CEX). Popular token bridges include Multichain and Wormhole. BNB Chain has a trading volume of $74 billion, while Avalanche has a trading volume of $68.5 billion over the past 24 hours, according to CoinGecko.

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