How do you swap one crypto for another?

To swap crypto, you trade one coin or token directly for another, for example ether for USDC, without selling to dollars first. There are two main routes. A custodial exchange swaps the balances inside your account, while a self-custody wallet sends a transaction to a decentralized exchange on the blockchain.

How do you swap crypto on Coinbase?

Coinbase calls this a convert. In the app you open Buy and sell, choose Convert, pick the two assets, enter an amount, preview and confirm. You do not need cash in the account, only enough of the coin you are giving up. Coinbase says converts execute immediately and cannot be cancelled.

Because the coins stay in Coinbase's custody, nothing moves on a blockchain during the trade. The exchange vs wallet guide explains that difference.

How do you swap crypto in Trust Wallet or Robinhood Wallet?

In a self-custody wallet the swap happens on chain. Trust Wallet's guide describes the flow as opening Swap, choosing the asset to give and the one to receive, entering an amount, previewing and confirming. It distinguishes swaps on the same blockchain from cross-chain swaps, which move value between networks.

Robinhood Wallet, the company's separate self-custody app, routes swaps through two DEX aggregators, 0x and LI.FI, as of October 2026. Its help page lists same-chain swaps on networks including Ethereum, Solana, Base and Arbitrum, plus cross-chain swaps between them. It warns that cross-chain swaps take longer and that a failed one can leave you holding a different token or amount than you started with.

What does a crypto swap cost?

Several charges can stack up:

• Platform fee. Coinbase charges a fee on converts that varies by asset, size and location, and shows it on the preview screen. Robinhood Wallet lists a 0.80% fee on same-chain swaps and 0.73% on cross-chain swaps as of October 2026.
• Spread. Coinbase says a spread is built into the exchange rate on crypto-to-crypto converts, and it can keep any part not needed to complete the trade.
• Provider and network fees. Aggregators may add a small fee, and every on-chain swap pays gas. Robinhood notes that network fees are still owed if a swap fails.
• Slippage. The price can move before the swap confirms. A slippage limit cancels the trade past a set point, as explained in what is slippage in crypto.

Comparing the final amount received on each preview screen, rather than the headline fee alone, is the usual way to see the full cost.

Is swapping crypto taxable?

In the United States, yes. The IRS says exchanging a virtual currency held as a capital asset for another virtual currency produces a capital gain or loss. The gain or loss is the dollar value of what you receive minus your cost basis in what you gave up, and the holding period of the coin you traded away decides whether it is short or long term.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.