Gus – Cryptocurrency Expert
Coinbase has added BNB Chain and Avalanche to its list of supported networks for consumers to trade for bitcoin transactions.
Coinbase introduced the new functionality in a blog post, claiming that it will provide clients access to thousands of tokens, far more than most traditional controlled cryptocurrency investment exchanges can offer.
Ethereum (ETH) and Polygon (MATIC), as well as BNB Chain (BNB) and Avalanche (AVL), are now supported (AVAX). Coinbase's in-app decentralised exchange is available to wallet clients who wish to trade on-chain (DEX) on four different networks
It is presently not feasible to bridge using tokens. Unlike Coinbase's centralised infrastructure, Coinbase Wallet allows clients to self-protect their bitcoin and access on-chain services. There are 173 tokens listed on Coinbase's market. In comparison to the thousands of Coinbase Wallet clients who now have access to the four networks, these numbers are negligible.
The technique of transmitting tokens between networks without utilising a centralised exchange is known as network bridging (CEX). Multichain and Wormhole are two of Coinbase's most popular token bridges.
Not only will trading be expanded, but network bridging will be added as well, enabling you to smoothly exchange tokens across several networks.
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