Are you a Coinbase user who’s tired of paying high Ethereum gas fees in order to purchase DeFi funds? Here’s a way to avoid them (note these instructions assume you’re on a mobile device, but will be similar on laptop):
Step 1: Start by purchasing AVAX on Coinbase. AVAX is on the Avalanche network and has very small gas fees. It is one of the only coins that Coinbase will let you purchase that isn’t on the Ethereum network.
Note: At the time of this writing, the Coinbase fee to purchase $1000 AVAX is 1.5% or $15. In comparison, purchasing $1000 AVAX through MetaMask (aka Transak) is 5% or $50.
Step 2: Next, add the Avalanche Network to your MetaMask.
- Launch MetaMask
- Click the hamburger in the top left of the screen to select “Browser”
- In the URL bar or search bar, enter chainlist.org
- Find “Avalanche” and click “Add to MetaMask”
Note: If you don’t have MetaMask, follow my earlier guide.
Step 3: Send the AVAX from Coinbase to MetaMask.
- In MetaMask, copy your MetaMask wallet address.
- In Coinbase, click on the AVAX token and then click on the AVAX Wallet.
- Click the Send arrow located in the top right hand corner.
- Click “Max” or enter the amount you want to send.
- Paste the MetaMask wallet address when prompted and follow the remaining steps to send the Avax to MetaMask.
Step 4: Confirm that the AVAX tokens have arrived, by launching MetaMask and switching to the Avalanche Network.
You now have AVAX tokens which can be swapped/bridged for other DeFi tokens.