If you’ve been following DeFi, you’ve probably heard of or been a part of Uniswap’s airdrop on September 17, 2020. Uniswap gave away 400 UNI tokens, worth $1,200 at the time, to anyone who interacted with the platform. before. September 2020. Uniswap managed to lock up over $2 billion dollars, making it the largest player in DeFi when it comes to total value locked.
Uniswap is a decentralized financial exchange, or DEX, that allows anyone to participate in the financial transactions of Ethereum-based tokens without a central body or intermediary. It is committed to providing users with permissionless access to financial services with security and immutability and without fear of discrimination or counterparty risk.
Because it is built on the Ethereum blockchain and uses smart contracts, Uniswap replaces traditional centralized market tools, such as exchange listings and limit order books, with automated, permissionless liquidity pools run solely by algorithms. .
Read more about UniSwap hereHere is an introduction on how to use this platform:
Go to UniSwap official website and click Launch App and it will take you to app.uniswap.org:
Now, you need to connect your wallet to UniSwap, click on connect wallet:
Choose your wallet, in this tutorial we are going to use metamask:
Choose your account and click next:
Now your wallet is connected and you should be able to see your balance and wallet address at the top of the page.
First, we need to select our market. In this tutorial, we are going to exchange some ETH for AAVE. Click on Select a tabenter the name of the token you are going to buy and select it.
Most common tokens should be there, but in case the one you’re buying isn’t, copy and paste your contract address and you can add that too! You can find the contract address for each token on its page on CoinMarketCap. In this tutorial, we are going to buy AAVE.
After entering the quantity to buy, you can click Exchange and later Confirm exchange:
Now your MetaMask opens, read the details and confirm the transaction in MetaMask.
Sometimes it can take a few minutes to complete, so be patient! At the end, you will see the message Transaction sent!
We hope that you have found this tutorial useful and that you have learned how to buy cryptocurrencies on UniSwap.
This article in the series is intended for general guidance and information purposes only for beginners involved in cryptocurrencies and DeFi. The content of this article should not be construed as legal, business, investment or tax advice. You should consult with your advisors regarding all legal, business, investment and tax advice and implications. The Defiant is not responsible for lost funds. Please use your best judgment and practice due diligence before interacting with smart contracts.