UniSwap Review 2023
UniSwap is a popular decentralized exchange created by Hayden Adams in 2018.
It runs on 4 different chains including Ethereum, Polygon, Arbitrum.
UniSwap offers features such as liquidity mining, spot trading and more.
We rated UniSwap 5/5, based on it's features, security, and future prospects.
UniSwap allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by UniSwap.
This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.
All DEXs charge trading fees. UniSwap is no different.
Trading fees incentivise liquidity providers to provide liquidity to UniSwap. This enables people like you to freely trade between tokens without incurring too much slippage.
UniSwap does not charge withdrawal fees.
DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.
How to use UniSwap?
- Get a crypto wallet that supports web3 on one UniSwap's of supported chains.
- Deposit crypto into the wallet, ensuring you have tokens for gas
- Navigate to UniSwap's homepage
- Connect your wallet to the website
- Goto Swap/Trade
- Choose a token that you'd like to swap to
- Finally, swap!
Where can I buy UNI ?
You can by UNI direct from UniSwap. It is the native token of UniSwap, and they will therefore offer the most liquidity.
Is UniSwap safe?
Yes, UniSwap is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.
What chains do UniSwap support?
UniSwap supports Ethereum, Polygon, Arbitrum, Optimism.