How to use Uniswap in the latest version of Uniswap tutorial

By connecting your compatible wallet to Uniswap, you gain access to a decentralized platform for direct cryptocurrency trading without creating a separate account.

Feb 10, 2025 at 08:54 pm

Key Points

• Understand the basics of Uniswap and its functionality
• Create a Uniswap account and connect it to your wallet
• Execute a token swap on Uniswap
• Add and remove liquidity from a Uniswap pool
• Track your Uniswap activities

Tutorial: How to Use Uniswap

1. Get Started with Uniswap

• Uniswap is a decentralized exchange (DEX) that allows users to trade cryptocurrencies directly with each other.
• Visit the Uniswap website and click "Connect to a wallet" to connect your Metamask, WalletConnect, or other compatible wallet.
• Once your wallet is connected, you can start trading.

2. Create a Uniswap Account

• You don't need to create a separate Uniswap account. Simply connecting your wallet to Uniswap is sufficient.
• Your wallet address will serve as your Uniswap account, and all your trading activities will be linked to it.

3. Execute a Token Swap

• To swap one token for another, enter the desired tokens and amounts in the "Swap" section.
• Select the desired slippage tolerance. Slippage is the difference between the quoted price and the actual price at which the trade is executed. A higher slippage tolerance allows for faster trades but may result in a less favorable price.
• Click "Swap" and confirm the transaction in your wallet.

4. Add Liquidity to a Pool

• Uniswap pools are where liquidity is stored for token swaps. Liquidity providers earn fees from trades made using their pool.
• To add liquidity, select the desired pool and enter the amount of each token you wish to contribute.
• Click "Supply" and confirm the transaction in your wallet.

5. Remove Liquidity from a Pool

• To remove liquidity, navigate to the pool where your liquidity is deposited.
• Click "Withdraw" and enter the amount of liquidity you wish to remove.
• Confirm the transaction in your wallet.

6. Track Your Uniswap Activities

• To track your Uniswap activities, navigate to the "Portfolio" tab in the Uniswap interface. Here, you can view your past trades, liquidity positions, and token balances.
• You can also use third-party tools like Zapper or Debank to track your Uniswap activities and visualize your portfolio.

FAQs

Q: What are the fees on Uniswap?

Uniswap charges a 0.3% trading fee on all token swaps. Liquidity providers earn a portion of these fees proportional to their share of the pool.

Q: How do I find the best swap rates on Uniswap?

Uniswap offers real-time price quotes for token swaps. To find the best rates, compare the quotes from multiple pools and select the pool with the lowest slippage.

Q: What is slippage on Uniswap?

Slippage refers to the difference between the quoted price and the actual price at which a trade is executed. It can occur during periods of high volatility or when the liquidity in a pool is low.

Q: How do I become a liquidity provider on Uniswap?

To become a liquidity provider, you need to add liquidity to a pool by depositing two tokens in equal value. You will earn a portion of the trading fees generated by the pool.

Q: What are the risks of using Uniswap?

Uniswap is a decentralized exchange, which means it is not regulated by any central authority. Users should exercise caution and conduct their own research before trading on Uniswap. Potential risks include impermanent loss for liquidity providers and the possibility of security breaches or smart contract failures.