[GUIDE] How Token Swap Works on Uniswap? - Page 4 - Tutorials - CryptoTalk.Org Jump to content
Whited35

[GUIDE] How Token Swap Works on Uniswap?

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On 8/27/2020 at 12:05 AM, Whited35 said:

First of all, let me explain briefly about Uniswap. It is a decentralized and fully automated liquidity protocol for swapping ERC-20 tokens on Ethereum Blockchain Network. On this Uniswap platform, there is no order book, and everything will be handled by the smart contract. In this tutorial, I am going to show you how token swap actually works on Uniswap. 

 

Go to https://app.uniswap.org/#/swap and click on the "Connect Wallet" option. After that, you will see all the supported wallets in the dropdown menu. Currently, Uniswap supports Metamask, Wallet Connect, Coinbase Wallet, Fortmatic, and Portis. You can choose a wallet according to your choice but in this tutorial, I describe everything based on the Metamask wallet. 
Install the Metamask wallet on your browser. If you don't have one, click here. Create wallet and fund it by sending your desired ERC-20 tokens

878252617_Screenshot(32).thumb.png.d54427fcdc03d49b7b4865ea47d4bf32.png

 

On Uniswap, click on "Metamask"

 

2132779106_Screenshot(33).thumb.png.25665f72a94e3f6ac8322657b3b646d8.png

 

After that you will see a Pop-Up window from the Metamask wallet. Click on "Next"

 

1664494496_Screenshot(332).thumb.png.ff12645dec63ec548f3602a35c47e080.png

 

Click on "Connect". Once the wallet is successfully connected, your ETH amount will be displayed on Uniswap

 

1306168761_cvScreenshot(333).thumb.png.5b39e5d636f0862c4c1072a501f84757.png

 

Head to setting option and made some adjustments for Slippage tolerance, Transaction deadline, and Toggle Expert Mode. If you have no idea about these phrases, click on "?" sign.

 

820067973_3rd(37).thumb.png.d4b0177b241e04b6b52b846b5cfbb9c1.png


Now select the token from your wallet that you want to swap(You have to manually add token on Metamask wallet to be displayed). I am selecting ETH for a reference.

 

1030295863_Screenshot(34).thumb.png.7c08483b91d731b6f69210c11c1fbf35.png


Select the output token by searching in the box that you want to get by swapping. I want to select BAT. 

1183616014_Screenshot(35).thumb.png.9395726d06f38458ecd5d1e142711460.png


Check the transaction details with the liquidity provider fee and click on "Swap".

856091542_Screenshot(36).thumb.png.a856e12b5f841b463f576c3bec783835.png

Generally swapping process is instant but sometimes swap failing or stuck will occur, you might check this FAQs page to know more details about that.
 

Good Luck😊


 

 

Wow what a great and detailed tutorial, this will be very useful for new users of uniswap including myself. Will definitely go and explore the site and do some trial swap. Thanks

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On 11/5/2020 at 8:30 PM, JanBomCrypto said:

Uniswap have been one of the most common exchanges, scammers at Imaking use of fake coins, people should man sure they look at  coingecko to check if the coin  to swap I listen there, if not, it is a scam. 

You need to confirm first whether token is listed on uniswap or not after that you might amnually add tokens to the wallets like Metamask while connecting wallet to the Uniswap for proceeding the token swapping process. Thanks.

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On 11/10/2020 at 7:13 PM, Whited35 said:

You need to confirm first whether token is listed on uniswap or not after that you might amnually add tokens to the wallets like Metamask while connecting wallet to the Uniswap for proceeding the token swapping process. Thanks.

You are right, I think using etherscan to connect to coingecko can be useful for that. Or how can I know a project is not fake?

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8 hours ago, GanBin said:

You are right, I think using etherscan to connect to coingecko can be useful for that. Or how can I know a project is not fake?

What you are talking about ? I hope you are serious regarding on topic discussions. Off topic discussions will be marked as scam. Please kindly check how Uniswap works. If you are facing difficulties to manually add the tokens in your Ethereum based wallets, you might follow the another tutorial topics in Tutorials section on this forum. 


 Minima

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|📲 JOIN INCENTIVE CASH   | TELEGRAM   DISCORD |   RUN A NODE & EARN COINS 📲| 

 

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I have been a very big fan of the uniswap, and for these little tutorials, I have learnt a thing or two, thanks for the eloquent elaborations 

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16 hours ago, Sadaf23535 said:

I was not aware of swip and unswip before using crypto talk but know I am femiliar to the both these .but now I like unswip more than swipe

It is not called swip or uniswip, it is swap, and the service here in this topic is about Uniswap. So, it means swapping (exchanging coins directly from one user to another directly) Uniswap gives the opportunity through noncustodial means. 

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On 11/13/2020 at 6:41 PM, skandows said:

It seems to be a simple exchange, but the guide can be useful for beginners.

Simple and beginner friendly open source DeFi platform. You can swap supported tokens instantly according to the liquidity pool's availability. 

On 11/17/2020 at 1:12 PM, Yomose said:

It is not called swip or uniswip, it is swap, and the service here in this topic is about Uniswap. So, it means swapping (exchanging coins directly from one user to another directly) Uniswap gives the opportunity through noncustodial means. 

 Thanks for elaborating so nicely. Due to miss-spelling, guys are more likely to choose the phishing sites because attackers have created the similar domains to spam people. 


 Minima

.🌍Decentralized, ultra-lean blockchain running entirely on mobile & IoT🌍

|📲 JOIN INCENTIVE CASH   | TELEGRAM   DISCORD |   RUN A NODE & EARN COINS 📲| 

 

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On 1/2/2021 at 8:27 PM, Sadia Batool said:

Incredible explanation, all of the people who followed this instructional exercise can ensure their UNI, in case they take after me curious with the information they will get a good gift from the crypto world, thank you generous for sharing your understanding. You are doing a very good job dear mate.

I made this topic earlier than Uniswap dropped an incredible airdrop. Unfortunately, guys did not notice this topic to grab that chance. So many members are still revolving around the first three sections on this forum but those who regularly check other section too, they are more likely to find the new opportunity available from the different projects. 


 Minima

.🌍Decentralized, ultra-lean blockchain running entirely on mobile & IoT🌍

|📲 JOIN INCENTIVE CASH   | TELEGRAM   DISCORD |   RUN A NODE & EARN COINS 📲| 

 

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Nice explanation  about  how to swap a coin from uniswap exchange  brother ..  But i am facing a problem  now about  gift card in game..  Can you create a topic about betrefill exchange  where we can buy gift card for Play  game such as pubg though  usd?  If you have any idea about  this then create a topic.. 

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On 8/26/2020 at 10:05 PM, Whited35 said:

First of all, let me explain briefly about Uniswap. It is a decentralized and fully automated liquidity protocol for swapping ERC-20 tokens on Ethereum Blockchain Network. On this Uniswap platform, there is no order book, and everything will be handled by the smart contract. In this tutorial, I am going to show you how token swap actually works on Uniswap. 

 

Go to https://app.uniswap.org/#/swap and click on the "Connect Wallet" option. After that, you will see all the supported wallets in the dropdown menu. Currently, Uniswap supports Metamask, Wallet Connect, Coinbase Wallet, Fortmatic, and Portis. You can choose a wallet according to your choice but in this tutorial, I describe everything based on the Metamask wallet. 
Install the Metamask wallet on your browser. If you don't have one, click here. Create wallet and fund it by sending your desired ERC-20 tokens

878252617_Screenshot(32).thumb.png.d54427fcdc03d49b7b4865ea47d4bf32.png

 

On Uniswap, click on "Metamask"

 

2132779106_Screenshot(33).thumb.png.25665f72a94e3f6ac8322657b3b646d8.png

 

After that you will see a Pop-Up window from the Metamask wallet. Click on "Next"

 

1664494496_Screenshot(332).thumb.png.ff12645dec63ec548f3602a35c47e080.png

 

Click on "Connect". Once the wallet is successfully connected, your ETH amount will be displayed on Uniswap

 

1306168761_cvScreenshot(333).thumb.png.5b39e5d636f0862c4c1072a501f84757.png

 

Head to setting option and made some adjustments for Slippage tolerance, Transaction deadline, and Toggle Expert Mode. If you have no idea about these phrases, click on "?" sign.

 

820067973_3rd(37).thumb.png.d4b0177b241e04b6b52b846b5cfbb9c1.png


Now select the token from your wallet that you want to swap(You have to manually add token on Metamask wallet to be displayed). I am selecting ETH for a reference.

 

1030295863_Screenshot(34).thumb.png.7c08483b91d731b6f69210c11c1fbf35.png


Select the output token by searching in the box that you want to get by swapping. I want to select BAT. 

1183616014_Screenshot(35).thumb.png.9395726d06f38458ecd5d1e142711460.png


Check the transaction details with the liquidity provider fee and click on "Swap".

856091542_Screenshot(36).thumb.png.a856e12b5f841b463f576c3bec783835.png

Generally swapping process is instant but sometimes swap failing or stuck will occur, you might check this FAQs page to know more details about that.
 

Good Luck😊


 

 

I am a beginner so I didn't know anything about the Uniswap but I have gained knowledge and learned many things about Uniswap from your. You've posted a very valuable and helpful post and you've explained this topic very easily in the simple way. This post has increased my knowledge and thank you so much for writing this important post. You're a very good explainer. 

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14 hours ago, Momo_064 said:

You've posted a very valuable and helpful post and you've explained this topic very easily in the simple way. This post has increased my knowledge and thank you so much for writing this important post. You're a very good explainer.

So, were you able to swap your token on Uniswap now? If you face any problems, you might ask questions to this thread. There are so many fake domains and they are looking similar to Uniswap, be careful there. Recently, there was fake Uniswap app on Google PlayStore too. 

9 hours ago, FFdrrd said:

Learned a lot about Anisop from you. You have posted a very valuable and helpful post and you have explained this topic in a very simple and easy way. This post has increased my knowledge and thank you very much.

Alright but what do you mean by Anisop? Well, illustrative images are added to make the things clear. 


 Minima

.🌍Decentralized, ultra-lean blockchain running entirely on mobile & IoT🌍

|📲 JOIN INCENTIVE CASH   | TELEGRAM   DISCORD |   RUN A NODE & EARN COINS 📲| 

 

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If you are feeling sick due to the high ETH gas fee while swapping the tokens on the decentralized platform Uniswap, make sure to check their recent update that suggests, users can use the Arbitrum network to swap tokens at the lowest costs. In addition, this scaling solution speeds up the swapping process in the comparison with the previous ETH-based swapping process. Here is an article that accommodates the ideas from the experts from different fields regarding the changes of the Uniswap and its token's price in the near future. Check out here: https://experty.io/uniswap-changes-and-price-predictions-in-2022


 Minima

.🌍Decentralized, ultra-lean blockchain running entirely on mobile & IoT🌍

|📲 JOIN INCENTIVE CASH   | TELEGRAM   DISCORD |   RUN A NODE & EARN COINS 📲| 

 

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