Complete Guide: How to Use Uniswap on Metamask and Trust Wallet

What is Uniswap?

Decentralized exchange (DEX) Uniswap is the most popular DEX built on the Ethereum blockchain. For users wondering, "What is Uniswap?", this article provides an overview of what it is and how it works as well as some of the ways users can get started using the Uniswap DEX.

With Uniswap, users can exchange crypto tokens without having to rely on intermediaries. Not relying on third parties leads to almost no economic income being collected. Instead, Uniswap relies on smart contracts to execute trades. Smart contracts are self-executing algorithms once certain preset conditions are met.

How Does Uniswap Work?

Since Uniswap is an open-source protocol, many DEXs with the suffix "swap" have been released to the market. This protocol is basically a copy of the original Uniswap source code. Where they differ is in the graphical user interface (GUI) as well as in differentiation and bidding positioning.

One of the best-known—and most controversial—copycat examples is Sushiswap. After copying Uniswap's source code, the platform proceeded to launch a vampire attack. A vampire attack is where a DeFi protocol offers various incentives to liquidity providers. Vampire attacks aim to draw liquidity from the target protocol.

How did Sushiswap achieve a successful vampire attack? The platform launched an aggressive marketing campaign. They also make it easy for Uniswap liquidity providers to switch. Lastly, they offer very lucrative rewards to make it worth it.

How to Use Uniswap with Metamask

To use Uniswap with Metamask, follow these steps:

1. Open the Metamask app and make sure you are connected to your Ethereum wallet.
2. Go to the Uniswap website in your browser and click "Connect to a Wallet".
3. Select "Metamask" from the available options.
4. Confirm the connection with Metamask and click "Connect" in the pop-up window.
5. Now you can start trading tokens on Uniswap using your Ethereum balance.

How to Use Uniswap with Trust Wallet

Here is a translation of the text into Indonesian in a style that is easy for the public to understand:

1. Open the Trust Wallet app, make sure your wallet is connected to the Ethereum network.
2. Deposit ERC-20 tokens into your Trust Wallet. You can use any supported token, such as ETH, USDT, DAI, etc. You can also transfer tokens from other wallets.
3. Find the Uniswap app inside Trust Wallet's DApps explorer. You can find them by tapping the four squares icon in the lower left corner of the screen. Then, scroll down or look for Uniswap in the list of DApps.
4. Select the Uniswap protocol within the DApps explorer. You will be redirected to the Uniswap website. Make sure you are connected to the Ethereum network and your Trust Wallet account.
5. Search for the desired coin on the exchange page and import it if necessary. You can trade any ERC-20 token supported by Uniswap. Some tokens may not be listed by default, so you may need to import them manually by entering their contract address.
6. Exchange the desired number of tokens. You can enter the number of tokens you want to exchange in any of the input fields, and the other fields will be calculated automatically. You can also adjust the slippage tolerance and transaction time limit if you want.
7. Then, tap "Swap" and confirm the transaction in your Trust Wallet. You will see the exchanged tokens in your wallet balance once the transaction is confirmed.

Conclusion

By following this guide, you now have a better understanding of what Uniswap is and how to use the platform with Metamask, Trust Wallet, and Coinbase. However, keep in mind that Uniswap's high gas fees can be an obstacle for new users. To avoid failed transactions, make sure to adjust the friction tolerance before executing transactions. Good luck with your trading on Uniswap!

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Uniswap v4 Ready to Launch in the Third Quarter of 2024, What Are the Advantages?

What is Metamask and How to Use It?

What is PancakeSwap (CAKE)? Main Features and How to Use It

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.