If you are only interested in trading Ethereum tokens on Saturn Network then you do have several options you can use as a compatible dApp browser such as MetaMask or our own Saturn Wallet. What about if you would like to continue buying & selling Ethereum tokens while you are on the go? We have developed Saturn Network exchange to be entirely mobile friendly, but, browser extensions never work very well on mobile(in most cases they do not work at all!) which is why if you want to keep the same user-friendly experience you have on your desktop or laptop using MetaMask or Saturn Wallet is not an option.
Luckily there are mobile dApp browsers like Trust Wallet, Cipher or Coinbase Wallet which have been developed to fill this space! Today we have an in-depth look at Coinbase Wallet and learn how to use it to buy & sell Ethereum tokens on our exchange.
Table Of Contents
- Installing & setting up your Coinbase Wallet account
- Funding your Coinbase Wallet
- How to access Saturn Network exchange
- How to buy or sell tokens via an existing order
- How to create your own buy or sell orders
- Coinbase Wallet final thoughts
1. Installing & setting up your Coinbase Wallet account
First, you need to download and install Coinbase Wallet - Ethereum Wallet & DApp Browser make sure you are installing their Ethereum dApp browser as Coinbase has another App just for buying different cryptocurrencies. If you are on the correct one you should see it has been published or created by Toshi Holdings, this is because it was originally called Toshi Wallet.
When you first open Coinbase Wallet, you will be prompted to Create a new wallet or Import existing wallet as per the screen below.
Now you could import an existing wallet with your 12-word seed phrase, that being said, we would recommend you create a new one. We believe that best practice in terms of keeping your cryptocurrency secure would be to create a clear separation between wallets you access on Desktop or Laptop and wallets you access on Mobile. Sure, it takes a little more time to set up a new wallet and send your funds to it, but better safe than sorry!
Once you have set up your wallet, you should be greeted with this screen:
One thing we noticed with Coinbase Wallet is there was no immediate prompt to backup your wallet. So this is the first thing that you want to do, imagine your phone corrupts itself and you need to reset to factory settings, if you did not back up your cryptocurrency wallet then there is technically no way for you to retrieve your funds!
First, tap Settings and then you want to select Recovery Phrase as per this screen:
Here you will find your 12-word recovery phrase, which you need to write down and store securely. Remember if you lose it, then you will never be able to recovery your wallet.
2. Funding your Coinbase Wallet
You will not be able to make any trades if you do not have any coin in your wallet! Even if you are only planning to use our exchange to sell tokens, you will still need some Ether available to cover network fees when you submit a transaction. So first we need to find our public wallet address to know where to send our coin & tokens.
Open the Wallet section and tap Ethereum, if you did it right you should see this page:
We would like to fund our wallet which means we need to receive Ether or tokens. By tapping Receive the public wallet address for our account will be displayed, like so:
You then simply copy your public wallet address and send the desired amount of Ether or tokens you will be using to trade on our exchange. If you are holding your digital currencies on your Coinbase account, you can follow this guide on how to send them to a Wallet Address or if you use MyEtherWallet then you can follow their tutorials on Sending ETH and Tokens.
Once you have received your funds in your Coinbase Wallet, it should all update and display for you automatically:
As we can see there is now 0.02 ETH, 100 HOT, and 500 SATURN in our Coinbase Wallet, we are now ready to buy & sell Ethereum tokens on Saturn Network!
3. How to access Saturn Network exchange with Coinbase Wallet
Now that you have some funds available, first you need to open up our exchange in Coinbase Wallet’s dApp browser, which you can access by tapping dApps. This will resemble an internet browser, just type in saturn.network into the URL box at the top. Once our website loads up, the first thing you will want to do is tap the triple dot symbol and add our exchange to your bookmarks, this will make it easier to open in the future.
On the main dashboard, you will see links to browse our Ethereum or Ethereum Classic Assets lists, and also sections where you can check the status of your buy & sell orders or see the full history of your trades. If you scroll down a little, you will see the top-5 performing assets, also note the little switch in the top right which allows you to toggle day/night mode.
Well done! Pretty simple so far, no? You are now all set up and ready to learn how to buy & sell Ethereum tokens with Coinbase Wallet.
4. How to buy or sell tokens via an existing order
Remember Coinbase Wallet’s dApp browser does only support Ethereum, this means we can not trade any of the listed ETC tokens. To ensure we don’t make a mistake, let’s first open up the full ETH Assets list, once open it should look like this:
You will find a search box at the top, which you can use to search via Name, Symbol or Address. So remember we have those HOT tokens? Well, we want to buy some more!
Great, now scroll over to the right until you see the big green Trade button, which will open HoloToken’s order book. Be sure to have a quick look in the Token Info section, and make sure you are indeed about to trade the correct token.
Once you are satisfied you have the correct token open, return to the Order Book. Here you will be able to see all the existing buy or sell orders that traders have created. We are interested in the buy orders which will look like the following:
The top one will be the best price, which you can open by tapping Buy, once you have the order open you can scroll down to see your own wallet's balance & also find the full details of the order. We have made a quick video to show you how easy it is to buy tokens with Coinbase Wallet:
Note how everything happened in one transaction: we sent Ether to buy HoloTokens, received 500 HOT & also the 0.25% paid trading fees were reimbursed with SATURN tokens as a loyalty reward.
Selling tokens to an existing buy order, is the exact same process, you simply need to have the tokens available in your wallet. Navigate to the token's order book and tap Sell, here is another quick video:
Note how on this occasion, we had to do two transactions as we first had to submit an ERC20 Approve. Don’t worry though, you only ever have to do this once per token or never if it is an ERC223 token. You can learn more about why an additional transaction is required for an ERC20 token on our forum.
5. How to create your own buy or sell orders
Now we are going to look at creating our own sell order, using the 500 SATURN tokens we sent to our wallet earlier. As before we want to browse to the relevant order book.
This time instead of scrolling down to see the existing orders, we want to use the Create Order feature.
Then you simply scroll down to select the option that interests you, we want to Sell SATURN for ETH.
Here is a quick video to show you the process, given SATURN is an ERC223 token there is no need to submit an ERC20 Approve transaction before creating an order.
Note how our platform will show you the top-3 performing sell orders, here we made our order at a cheaper price in hopes to sell these tokens quicker. On the receipt, once your transaction has confirmed, you will also be able to use the social media icons to share your individual order link via those platforms.
If you want to learn how this can be helpful you can watch traders Alice & Bob showcase our shareable order links feature in the following scenario video.
And that wraps everything up on how to buy or sell Ethereum tokens with Coinbase Wallet. Congratulations, you made it to the end of our tutorial, happy trading!
6. Coinbase Wallet final thoughts
Coinbase Wallet Ethereum dApp browser was very easy to set up and intuitive to use, it is a great way to buy or sell Ethereum tokens while on mobile. As we saw together it was extremely easy to start trading ETH tokens on Saturn Network. Definitely a tool you can add to your repertoire, allowing you to trade securely even when you are on the move.
Coinbase's dApp browser is also very novice-friendly, as you do not have to worry about setting gas prices or gas limits when submitting transactions, in fact, there appears to be no way to set custom values. This removes the chance you may make a mistake and waste some of your funds, though more advanced users may find this to be lacking. All in all, it is a great way to buy or sell Ethereum tokens on Saturn Network securely from your mobile phone. Hopefully, in the future now that Coinbase has added support for ETC we will see them implement a dApp browser for Ethereum Classic also!
Hope you found this guide helpful, we will be looking at more mobile dApp browsers in the future such as Cipher & Trust Wallet, walking through how you can use them to trade on our exchange! As always please continue to provide us with feedback, we are always listening.
Future is bright.