Home GuidesNFT

Follow us on Twitter or join our Telegram

How To Make A Uniswap Trade

uniswap

Uniswap provides another way for you to trade crypto. It is a decentralized exchange, also known as DEX, and operates without a central authority and need to custody your funds.

Indeed, users are the ones who add funds in liquidity pools and gain returns whenever those funds are used for trades. Buyers or sellers do not have to wait for an exchange to complete a trade like those in centralized exchanges. Instead, the funds come from the liquidity reserves that anyone can participate in. Those who contribute to these liquidity pools earn an interest whenever those tokens are used on the exchange.

Along with being decentralized, the simplicity of the Uniswap user interface makes it easy to get started. So without further ado, let’s learn how to do a Uniswap swap.

To begin, you should have a MetaMask Wallet to make these trades. If you need help linking your Uniswap with MetaMask, click here.

Making a Uniswap Swap

First, go to your home page on https://app.uniswap.org/#/swap as your URL. You should see a very simple ‘From’ and ‘To’ transaction.

uniswap guide

You can select which currency you wish to the right.

uniswap trade

Under From, you can type in how many of the current pairs you want to swap to. The equivalent in the other currency is automatically shown.

uniswap trading guide

The gear in the top right corner shows a number of advanced options that you can use like slippage tolerance. Price fluctuates in crypto rapidly. Setting slippage tolerance will make sure that you will accept changes in the price only at those percentages. If you set it to 1%, the tokens you swap out for won’t differ by 1%. If it does, your transaction is canceled. The transaction deadline makes it so that your transaction won’t execute if it takes longer than the time you select. You also have more advanced options like Expert Mode for high slippage trades and Multihops for direct pairs.

After you’ve chosen your options, hit the big pink Swap button.

uniswap swap guide

You will see all the details concerning your swap like the price, the minimum amount you’re expected to receive even if the price shifts, the price impact (slippage tolerance), and the fee the liquidity provider gets when you make this swap. hit Confirm Swap.

Uniswap confirm transaction

Notice that you’re also paying the network’s gas fee. Hit Confirm and you’re done!

You can check the assets tab in your MetaMask chrome extension to see your swap completed.

uniswap swap guide

As Uniswap continues to surge in the market cap, you begin to wonder if there will be a day when decentralized exchanges, with their simplicity, anonymity, and privacy, will one day be the norm over centralized exchanges.

Learning how to use Uniswap could be essential to the future of decentralized finance. Good luck!

More Guides

How to Use Binance Smart Chain (BSC) with MetaMask

If you like Metamask, you might be glad to know that you can use it not only with Ethereum but also with other Ethereum forks. The most...

Read more

How to Find, Buy, and Sell NFTs on OpenSea

Being one of the original marketplaces for non-fungible tokens (NFTs), OpenSea has been an integral part of the decentralized ecosystem. NFTs are tokens that give proof of ownership to a digital asset, whether these are artworks, video game items...

Read more

How to Link MetaMask to Uniswap

As one of the leading decentralized exchanges (DEX), Uniswap is also one of the biggest applications in decentralized finance (DeFi) today. At its core...

Read more

How to Deposit and Withdraw Tokens Through MetaMask

As decentralized projects continue to grow, the world is moving closer to a decentralized future.. With decentralization, the possibilities of a user-focused financial future becomes more and more reachable. MetaMask is the bridge towards...

Read more

How to Add Tokens to MetaMask Wallet

MetaMask is an important bridge to decentralized applications (dapps), whether you want to create NFTs on OpenSea or use decentralized finance (DeFi) applications like Uniswap. MetaMask is a gateway into a new internet, an internet that you can...

Read more

MetaMask Guide: How to Set Up MetaMask Wallet?

Don’t let the cute fox logo logo fool you. MetaMask is one of the most important bridges into the world of decentralized applications (dapps) as it lets you storesEther and other ERC-20 tokens in secure place. MetaMask manages the wallet...

Read more