Uniswap Exchange: Everything you should know

Posted 2022-03-09 07:47:03

Uniswap is a cryptocurrency exchange that uses a decentralized network, it is a set of computer programs that run on the Ethereum blockchain. It allows users to trade without intermediaries, with a secure degree of decentralization and censorship-resistance. As it is an open-source platform, so there is no order-booking or centralized party is required to make trades.

Is Uniswap Safe?

Yes, Uniswap exchange is a safe and user-friendly platform. As it operates as a decentralized exchange and is built on the Ethereum blockchain, meaning it has the same security as the Ethereum blockchain. Since this is a decentralized network there is no central server to hack or gain access to users’ accounts or funds. As long as users keep their accounts details private, then nobody will be able to decrypt the code and the account will be safe and secured.

Features: Uniswap exchange

Pros:

Users can Swap all ERC-20 tokens by the use of the Ethereum blockchain
No identity verification or sign up is required
Users get high-interest returns for providing liquidity
Uniswap exchange supports a wide range of cryptocurrencies wallets

Cons:

Gas fees and transaction costs are very high
Risk of temporary loss in liquidity pools

Supportive wallets on Uniswap Exchange:

As we know, Uniswap supports multiple cryptocurrencies wallets in its decentralized platform which makes it a diversified model for exchanging through wallets in one single application. Some of the popular cryptocurrency wallets are mentioned below:

MetaMask
WalletConnect
Coinbase Wallet
Formatic
Portis

Currencies Uniswap Exchange supports:

Users can buy an almost endless number of coins and tokens on Uniswap, as it supports all the ERC-20 compatible assets. Some of the most popular assets users can buy on Uniswap:

Ethereum (ETH)
Basic Attention Token (BAT)
Enjin Coin (ENJ)
Chainlink (LINK)
Yearn.finance (YFI)
Tether (USDT)
USD Coin (USDC)
Dai (DAI)
Synthetix (SNX)
Uniswap (UNI)
Wrapped Ether (WETH)
Wrapped Bitcoin (WBTC)

Conclusion:

In the above article, we have discussed the Uniswap exchange, also the pros and cons of having a Uniswap account. So, read the full article and if you’re a beginner and want to step into the crypto world then it’s the best option you can start with. Also, if you have any queries regarding Uniswap Exchange, then you can contact to Uniswap support team, they will assist better with queries and issues.