Recently you guys know that almost all the new ico coin get listed on uniswap first so swap them you must need to know how to use the uniswap actually ..so let me explain you today about it ..
Uniswap is a completely decentralized exchange. You may have seen or used many decentralized exchanges before. Such as: IDEX, ForkDelta etc. But Uniswap is different than these. I hope you will understand in detail how it is different.
Usually Uniswap give you two advantage..One is about Swap and another is PooL.
Why should you use uniswap
You may say that since there are several decentralized exchanges then why should i use uniswap .. because i can trade on those exchange too ..Yes, of course you can trade there..But, the Uniswap exchange is a bit different from the decentralized exchanges that I mentioned earlier. You do not need to take trade entry on Uniswap like on normal exchange. Because it's a swap method. The name of this exchange reveals a lot..Using Uniswap you can swap any token of your ERC-20 directly..Which you cannot do using IDEX or ForkDelta..And this is why Uniswap has become so popular. Many project tokens are selling using Uniswap..
Do not know how to swap then read this below step..
How to Swap
Suppose you have a LINK token. Now you think, you will buy BAND tokens by selling some links. Now if you want to do this by any normal exchange, first you have to sell LINK with BTC, USDT or ETH. Then you have to buy BAND token with that BTC or ETH again..But you can do this very easily using Uniswap directly without much hassle..Yes, you can buy BAND directly against LINK using Uniswap's Swap method..All you need to do is ::
first you enter the Uniswap website. Since here you can swap ERC-20 tokens. So you need to connect your ERC-20 wallet. Click Connect to a wallet to connect the wallet.
Then you will get some more options to connect your wallet. Connect your wallet by choosing the option you like.
Like here I connected the wallet using MetaMask.
Now choose the token you want to swap from option 2 and 3.
For example here I have chosen ETH in option 2 and USDT in option 3. That means I want to take USDT as opposed to ETH.
after that you need to click on the number 2 and 3 option to choice out which coin you wanna swap .after click the option you will get this :
Now suppose I want to sell 0.1 ETH and take USDT at current price. So now just give me 0.1 in the box of ETH and it will show me how much USDT I will get.You can also see the details of how much fee will be deducted in this swap and how much you will get USDT excluding fees below the swap button.
After that to confirm the transaction you need to click on the confirm button to done transaction :
After clicking the Confirm Swap button, the MetaMask window will open. It will show you how much you are transacting and what the fees are (note the image below).If you want to reduce the fee a bit, you can reduce the amount of gas from the place marked with a black arrow. However, be careful not to reduce the amount so that your transaction fails.
You can visit https://etherscan.io/gasTracker to see how much gas fee will make the transaction safe.
When everything is OK, complete your transaction by clicking the Confirm button..
To see if the transaction has been completed, you can search the hash of your transaction on the ether scan. As seen in the picture below.
The guide will be finished now and in my next topic i will explain how to reduce the gas fee of transaction and how to find out those token from uniswap which is missing there ..