Wallet

Can I convert my cryptocurrency to another cryptocurrency?

Wallet Decentralized Exchange (DEX) Integration

Coinbase Wallet’s decentralized exchange (DEX) integration is a conversion feature within Coinbase Wallet. With this DEX integration, you can quickly convert the crypto held in your Coinbase Wallet through decentralized exchanges otherwise known as DEXes.

DEXes are protocols running on the Ethereum blockchain that easily convert ERC-20 tokens. When you use this feature, you send your funds directly from your self-custodied Wallet to a DEX service like Uniswap or 1inch.exchange without using a centralized exchange like Coinbase. This feature is available to all Coinbase Wallet users. 

Since conversions take place on a third party decentralized exchange, it is possible for the price to fluctuate. Conversions will execute at a price within 2% of the estimate, or the transaction will be cancelled and the balance returned. 

Keep in mind that Wallet DEX only supports ERC-20 assets. 

DEX does not support:

  • Cross-chain transactions

  • Non-ERC-20 transactions (e.g. Bitcoin, Bitcoin Cash, etc.)

  • Direct bank account transactions

How do I access a DEX in the Wallet app?

To use the conversion feature in your Wallet app, first sign into  Coinbase Wallet from your mobile device. 

  1. On Coinbase Wallet, tap Buy, transfer or convert in the Coins tab.

  2. Tap Convert crypto.

  3. Enter the cryptocurrency you would like to convert from, the crypto you would like to convert to, and the amount. 

  4. Verify your biometric (Face ID/fingerprint) or PIN and tap Confirm.

Learn about the Coinbase Wallet Extension on Chrome.

What are the conversion fees?

Coinbase Wallet currently charges a flat fee of 0.50% on all conversions. Conversion fees help us maintain and improve the Coinbase Wallet experience. 

Why does Coinbase Wallet charge a conversion fee?

The fees help Coinbase Wallet maintain and improve your experience

Why did my trade fail?

A trade could fail because of a sudden shift in the exchange price between the cryptocurrencies you are trying to convert. We recommend you wait at least 60 seconds before reattempting the transaction. If you continue to encounter this error, please restart the app and check that you are running the most up-to-date version of the mobile app.

If the issue continues to persist, try uninstalling and reinstalling the Coinbase Wallet app before reattempting the transaction. Important: Make sure you back up your recovery phrase before uninstalling/reinstalling the mobile app. If you lose access to your recovery phrase, you will lose access to your Coinbase Wallet.

Why is my trade still pending?

Network congestion and/or paid gas fees that are lower than the current network average may be the reason why your trade is still in “pending” status. 

Ethereum miners prioritize transactions with the highest paid gas fees. So if your transaction has a lower paid gas fee, then your transaction confirmation on the blockchain gets pushed to the bottom of the queue. As a result, your transaction may become “stuck” as more transactions with higher paid gas fees are added to the network pool. If your transaction has been stuck for an extended period of time then this may be the reason why. You will either need to wait for network fees to drop or replace the transaction to move it out of “pending.”

Coinbase Wallet doesn’t currently offer the ability to adjust gas prices or replace pending transactions, but you can import your recovery phrase into a third party wallet that does support these features. Learn more about this feature in this Etherscan article on cancelling ETH transactions.

How do I access my conversion history?

You can find your conversion history through Coinbase Wallet history for each of the currencies involved in the conversion.

To access your conversion history:

  1. Tap on the desired crypto in the Wallet file, under Coins

  2. You can tap on the transaction to view the details. 

  3. Tapping on the bottom link will take you to the crypto’s site for further information.

Please note that Coinbase Wallet transaction histories are not currently exportable. 

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