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Coinbase now sells multiple tokens as part of an extended swap service

Only 173 coins are presently listed on Coinbase's market. These percentages are insignificant to the thousands of Coinbase Wallet customers who now have access to all 4 networks.

24-May-2022 By: Shikha Jha
Coinbase now sells m

Coinbase now sells 'thousands of tokens' as part of 

an extended swap service

Coinbase, America's largest cryptocurrency exchange, has added the BNB Chain and Avalanche to its list of supported networks for customers to trade and store their cryptocurrencies.

The exchange promises that the new functionality would provide users access to "thousands of tokens," which is "more diversity than most traditional centralized exchanges can offer," according to a blog post published on May 24.

BNB Chain and Avalanche have been added to the list of authorized networks, bringing the total to four, including Ethereum and Polygon. Coinbase's own in-app decentralized exchange is available on four networks for users who want to trade on-chain. Bridging with tokens is currently unavailable.

Coinbase Wallet, in contrast to Coinbase's centralized platform, allows consumers to keep track of their crypto and access on-chain services.

On Coinbase's market, only 173 tokens are currently listed. These figures are insignificant in relation to the thousands of Coinbase Wallet users who now have access across the four networks. "We'll be making it feasible to do trades on an even broader variety of networks" in the coming months, according to the exchange.

"Not only will trade be expanded, but network tunnelling will also be provided, allowing you to easily transfer tokens between networks."

Sending tokens between platforms without going via a centralized exchange is known as network bridging. multichain and Wormhole are two of the most popular token gateways.

Coinbase's Web3 wallet and browser for the mobile app are now available, however only to a select group of users. This will facilitate the users with access to a large ecosystem of decentralized exchanges on an authorized network.

According to the source data, BNB Chain had $74 billion in trade volume over the last 24 hours, whereas Avalanche had $68.5 billion.

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