Coinbase is, no doubt, a multi-coin wallet, Ethereum wallet, and Ethereum browser that has been one of the most used crypto wallets. This wallet lets you store coins, manage Ethereum-based ERC-20 tokens, and access DApps. Coinbase Wallet can be used as a mobile and web wallet. If you have created a Coinbase Wallet account then you can easily store, send, and receive crypto tokens such as Ethereum, Bitcoin Cash, Bitcoin, etc. Users who want to convert cryptos using the Coinbase can easily do so by setting up their wallet accounts. In case you have already created Coinbase Wallet then you can use the password or private key details to access and convert cryptos. Here in this read, we are going to talk about the way to convert crypto using the Coinbase Wallet, the number of Crypto not convertible Coinbase Wallet, and the method to set up a Coinbase account.
Number Crypto not convertible Coinbase Wallet
Coinbase supports Ethereum all EVM-supported networks and you can use these networks using the Coinbase mobile or browser extension. You cannot trade cryptocurrency that has been developed by a network that is not supported on the Coinbase. The list of the networks that Coinbase supports is given below:
- Avalanche C-Chain
- BNB Binance Smart Chain
- Gnosis Chain
- Fantom Opera
If you are looking to convert a cryptocurrency that has been derived from the above-mentioned network then you may not be able to convert the cryptocurrency using the Coinbase Wallet.
How to convert crypto on Coinbase wallet?
You can easily convert cryptos using Coinbase via your mobile or computer. If you are looking to convert crypto on the Coinbase exchange then you can approach the different processes given in the next sections.
Way to convert via mobile
If you are looking to convert Bitcoin, Ethereum, or any other cryptocurrency on Coinbase exchange using a mobile then you can easily do with the help of the steps that are given below:
- Open Coinbase mobile app and sign in to your account
- Make sure that you have linked your account with your wallet account
- Now, go to the ‘Buy/Sell’ section to find more options
- From this section, choose the ‘Convert’ option
- Now, you need to look into the panel on your mobile screen
- After that, choose the crypto token that you want to convert
- Now, you need to feed the amount of cryptocurrency that you want to convert
- When asked, provide the information about your local currency
- Find the ‘Preview Convert’ option and then click on it
- Now, you need to find and click the ‘Confirm Conversion’ option
Way to convert via computer
If you are using a computer then you can convert cryptocurrencies on the Coinbase Wallet using a web browser. Make sure to update the browser before starting the process that is given below:
- With the help of a browser, go to the Coinbase.com webpage
- Now, you need to sign in to your Coinbase account
- After accessing the account, go to the ‘Buy/Sell’ page
- On this page, you need to visit the ‘Convert’ page
- Now, choose the cryptocurrency that you want to convert
- Then, you need to enter the crypto token amount
- Get to the ‘Preview Convert’ button and click on it
- Now, confirm the process by clicking on the ‘Convert’ button
Pro Tip: In case you are looking to convert crypto not convertible Coinbase Wallet, you need to check out Coinbase supported network list. You cannot convert crypto that is not supported by Coinbase.
Converting crypto on Coinbase Fee
Coinbase charges a flat amount for all types of conversions that you made. You are charged an amount of 0.50% to convert crypto tokens on the Coinbase wallet and exchange. Each time when making a conversion on Coinbase, the fee is deducted from the total amount that you are converting.
Converting crypto on Coinbase tax
To deal with cryptocurrencies, Coinbase charges taxes as well. These taxes are applied based on the location of trading. If you are using Coinbase in the USA then you may have to pay taxes to the U.S government.
In short, Coinbase users who have stored the crypto funds in their account can convert their funds and get fiat currency. The complete process to convert crypto funds using the Coinbase Wallet account is given above on this page. All you need to do is set up an internet connection on your mobile or computer and go with the conversion process. Make sure that you have selected crypto to convert which is supported by the Coinbase exchange. In case you have not linked the Coinbase Wallet and Coinbase exchange account then link them first to convert cryptos on it. We are sure that you have learned about the Crypto not convertible Coinbase Wallet process with the help of this post.