How do you add liquidity to the Uniswap exchange?
The Uniswap exchange is famously known for its liquidity feature that you may not easily find in other exchanges. Through its unique protocol, traders can easily swap their preferred ERC-20 tokens without having to share their identity and this can be easily achieved through adding your funds to the liquidity pool. Now, a lot of users may be finding themselves in a dilemma as to how to add liquidity on the Uniswap exchange.
Well, doing this is a matter of a few minutes and you can easily go ahead with doing so by following the complete steps that we are going to discuss in the section to follow. But, before you can add your funds to the pool, make sure you have purchased and added your funds to a wallet. After adding the purchased funds to a wallet, you need to connect your wallet to the Uniswap Exchange to start using any of the available features.
Prior, to moving to the next section, we believe that you have connected your Ethereum wallet to Uniswap.
Steps to add funds to the liquidity pool on Uniswap
By adding your funds to liquidity, you can get a passive income from your crypto holdings for as long as your funds remain in the liquidity pool. Here is how you can add funds to the liquidity pool:
1. At first, get into the main page of the Uniswap Exchange
2. On this page, you need to click on the "Pool" at the top-left corner
3. Now, click on the "+New Position" option
4. Here, you can select the pair that you wish to add
5. Add a new pair if your preferred pair is not already available
6. Thereafter, you can select the amount to be added
7. Now, review all the details that you see on the next page
8. At this stage, you have to complete the transaction and then pay the gas fees
9. Finally, tap on the "Supply" option
10. This shall display the pool share on to the next screen and you're done
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Conclusion:
In case you do not want to sell your crypto holding but still wish to earn some money from it, then you should make sure to add this fund to the liquidity pool. Once you have added the funds to the liquidity pool of the Uniswap exchange, you can reap benefits from them and withdraw the funds from the pool whenever needed.
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