• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
How to exchange tokens on Uniswap

How to exchange tokens on Uniswap

user avatar

by Alexandra Smirnova

2 years ago


Uniswap is a decentralized exchange (DEX) protocol built on the Ethereum blockchain. It allows users to trade cryptocurrencies and other digital assets without the need for intermediaries such as centralized exchanges or brokers.

Uniswap uses an automated market-making (AMM) mechanism to enable trading on its platform. This means that instead of relying on a traditional order book, Uniswap uses smart contracts to create liquidity pools for different pairs of tokens. These pools are automatically maintained by algorithms that adjust the prices of the tokens based on the supply and demand.

Users can trade any ERC-20, BEP20, Polygon token on Uniswap, and they can also provide liquidity to the pools by depositing tokens and earning a share of the trading fees. Uniswap's native token is UNI, which was introduced in September 2020 and is used for governance and liquidity incentives.

To exchange tokens on Uniswap, you can follow these steps:

  1. Connect your wallet: You need to connect your wallet that holds the tokens you want to exchange. Uniswap supports various wallets such as MetaMask, WalletConnect, Coinbase Wallet, etc.

  2. Select the tokens: Choose the tokens you want to exchange. Uniswap supports many ERC-20 tokens, and you can search for the token by its name or symbol.

  3. Enter the amount: Enter the amount of tokens you want to exchange. You can enter either the amount of tokens or the amount of Ethereum you want to spend.

  4. Confirm the transaction: Review the details of the transaction and confirm it. You will need to pay a small fee for the transaction, known as the gas fee, in Ethereum.

  5. Wait for the transaction to complete: After confirming the transaction, you need to wait for it to be processed and completed on the Ethereum blockchain. You can track the progress of your transaction on a block explorer like Etherscan.

  6. Receive your tokens: Once the transaction is completed, you will receive the tokens you exchanged in your wallet.

Note that the price of tokens on Uniswap is determined by the market demand and supply, and it can change rapidly. Therefore, the actual price you receive may differ from the estimated price at the time of the transaction.

0

Share

Other articles

Exploring "The Kingdom": A New Era in Blockchain Gaming

Discover "The Kingdom," an innovative virtual tabletop RPG that seamlessly integrates deep lore, AI, and blockchain technology to offer a unique role-playing experience.

user avatarElena Ryabokon

11 hours ago

Sabong Saga: A Revolution in the World of Digital Fighting Cocks

​Sabong Saga is a Web3 game that takes fighting cocks into the digital age, allowing you to collect, breed and fight digital cocks while preserving the excitement of traditional fighting without cruelty.

user avatarMax Nevskyi

14 hours ago

Particle Network: Simplifying Blockchain Interaction through Smart Wallets and Advanced Solutions

Particle Network offers solutions to simplify working with blockchain networks, including smart wallets and integration of various cryptocurrencies, making interaction with Web3 more accessible and secure.

user avatarEve Adams

16 hours ago

TON Battleground: An innovative multiplayer game on the Telegram platform​

In recent years, games integrated into messengers have become increasingly popular. TON Battleground stands out among them, offering a unique royal battle directly on Telegram with interesting rewards.

user avatarMax Nevskyi

18 hours ago

Battle for Blockchain: Web3 Strategy Game with NFTs, Auto-Battles & DAO

Explore Battle for Blockchain — a fully on-chain Web3 strategy game with NFT units, token economy, auto-battler mechanics, and decentralized governance via DAO.

user avatarElena Ryabokon

21 hours ago

MoonPay: Simplifying Cryptocurrency Transactions and Innovations in Financial Technologies

MoonPay provides simple and secure solutions for buying, selling, and exchanging cryptocurrencies. The company is actively developing integration with various platforms and expanding its services in financial technologies.

user avatarEve Adams

21 hours ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.