Coinbase Convert allows users to convert their cryptocurrency from one to another for a zero fee.
Coinbase is one of the popular centralized cryptocurrency exchanges (CEX) known for its clean and soothing user interface.
Any novice crypto trader can use Coinbase to convert their Bitcoin to Ethereum (and vice versa), Ethereum to MATIC (and vice versa), etc.
Though converting cryptocurrency from one to another on Coinbase is free, you may be subject to a withdrawal fee if you withdraw the converted crypto.
Want to know the cheapest way to convert cryptocurrency? read our article.
How to Convert Cryptocurrency on Coinbase?
To convert cryptocurrencies from one to another on Coinbase, you need to go to the “Convert” section by clicking “Buy & Sell”.
Then, set the cryptocurrency pairs and enter the amount of crypto that you wish to exchange.
Lastly, confirm the order.
This is how you can convert cryptocurrency on the Coinbase exchange.
- Steps to Convert Cryptocurrency from One to Another on Coinbase
- Steps to Convert Cryptocurrency from One to Another on Coinbase Mobile Application
Steps to Convert Cryptocurrency from One to Another on Coinbase
1. Go to “Convert” Section
Visit the Coinbase website and sign in to your account by entering your credentials.
After signing in, you will land on the “Home” page.
On the “Home” page, you will be able to see “Buy & Sell” and “Send & Receive”.
Since you are here to convert your cryptocurrency, click “Buy & Sell” option.
By doing so, you will be in the “Buy” section. But, you need to navigate to the “Convert” section.
2. Set Cryptocurrency Pairs
Now, in the “From” field, you need to select the cryptocurrency that you want to trade.
Next, in the “To” field, select the cryptocurrency that you want to trade for.
For example, if you have Ethereum and you want to exchange it for MATIC, select Ethereum in the “From” field and MATIC in the “To” field.
Then, enter the amount that you would like to spend.
Lastly, click “Preview Convert”.
3. Confirm the Order
After clicking “Preview Convert”, you will see your order preview.
The order preview has details such as the exchange rate, TDS, total, and the amount of crypto that you will receive.
Review the details and click “Convert now”.
4. Check Balance or History
Within a few seconds of clicking the “Convert now” button, your order will be executed.
To see the convert history, click “View transaction”.
Alternatively, go to the “Assets” tab and click on the crypto asset for which you want to see the convert history.
Then, navigate to “Wallet”.
Steps to Convert Cryptocurrency from One to Another on Coinbase Mobile Application
1. Tap on “Convert”
Open the Coinbase mobile application.
By default, you will land on the “Home” page. There you can see multiple options, such as Buy, Sell, Send, Convert, and Receive.
Tap on “Convert”.
2. Set Cryptocurrency Pairs
Next, you need to select cryptocurrencies to exchange.
Then, enter the amount of crypto you would like to spend on this crypto conversion.
Lastly, tap on “Preview convert”.
3. Tap on “Convert now”
After tapping on “Preview convert”, you will get to see your order preview.
There, you can see details such as exchange rate, TDS, the cryptocurrency amount that you are spending, and the cryptocurrency amount that you are receiving.
After reviewing the details, tap on “Convert now”.
4. Check History
Within a few seconds, your order will be executed.
Tap on “View details” to see the convert history. Otherwise, tap on “Done”.
Conclusion
Coinbase Convert is the one-stop solution for those who want to exchange their Bitcoin for Ethereum, Ethereum for Bitcoin, etc.
The Coinbase Convert feature is easy to use, instant, and has a zero fee.
You can also convert your cryptocurrencies on Binance or Kraken.