Coinbase Wallet Increases Support for BSC and AVAX Tokens

One Wallet, Thousands of Tokens

Coinbase, one of the most prominent crypto exchanges globally, has added BNB Chain and Avalanche to its list of supported networks for the Coinbase Wallet, where users can store and swap cryptocurrencies.

• By adding BNB Chain and Avalanche, the total number of networks supported is now four, including Ethereum and Polygon. 
• Previously, Coinbase only offered 173 tokens to its users. This number will reach thousands with the addition of the BNB chain and Avalanche networks. 
• Users who wish to trade on-chain can use the app's own decentralized exchange (DEX) on four networks. Currently, token bridging is not supported.
• With Coinbase Wallet, users can self-manage their crypto and access on-chain features, unlike Coinbase's centralized platform.
• According to the exchange, swaps will be available on even more networks in the coming months.
• In network bridging, tokens are sent between networks without passing through a centralized exchange (CEX). Learn more about the development here.

“Not only will trading expand, but we’re also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks,” Coinbase mentions in the announcement Medium article.

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What is Coinbase?

Coinbase is one of the oldest cryptocurrency exchanges in the world. The exchange was founded by Brian Armstrong and Fred Eshram back in 2012. While Armstrong remains at the helm of the exchange as the CEO, Eshram left the company in 2017 but still owns 6% of the equity and serves on the board of directors. Coinbase (COIN) became the first cryptocurrency firm and exchange to trade on Nasdaq starting on April 14, 2021. The stock has even briefly surpassed a market capitalization of $100 billion, although its market cap is just over $15 billion at the time of writing.

Find more about Coinbase here:

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