You’ve got yourself some crypto, maybe some Bitcoin, maybe some Ethereum. They’re just there sitting in your crypto wallet. Now what?
Maybe you want to transfer your crypto to a centralized exchange like Binance or Kraken. Another option is to keep your crypto in an Ethereum address and trade it using a decentralized exchange.
Your Ethereum address is not only a bank that holds your Ethereum tokens but also a way your you to interact with countless DApps (decentralized applications). To use your Ethereum address with DApps, you need to get set up with an Ethereum wallet application. The most commonly used one is Metamask. Follow our wallet guide for information on how to set up Metamask.
Please note that we do not advocate buying and selling of any cryptocurrency. This guide is only to be used as a tutorial for interacting with the Uniswap interface.
Creating a Uniswap Account
Once you’re set up with Metamask, you will need to create a Uniswap account. Thankfully, as Uniswap is decentralized, you do not have to worry about providing personal information or signing up with an email.
All you need to do is link your Metamask up with Uniswap and you will have an account ready.
First, go to Uniswap and click “Use Uniswap.”
Next, click “Connect to a wallet.”
There are many wallet options for interacting with Uniswap. For our purposes, we are using Metamask. Click Metamask.
Find your Ethereum address and click “Next,” then “Connect.”
If you can see part of your Ethereum address in the top right corner, congratulations! Your Metamask address is linked to Uniswap and you have your first Uniswap account.
Making Your First Trade on Uniswap
Once your Ethereum address is linked to Uniswap, you will be able to trade specific tokens by making “swap.” When you swap coins, you are making a one-to-one trade between two tokens. For example, you can swap a certain amount of ETH for a certain amount of USDC.
Note that before you do anything on Uniswap, you must have ETH to use as gas for your trades. You can think of this ETH as a “tax”; like in real life, you can’t make purchases without paying taxes. We recommend having $50-$80 of ETH in your wallet, at first.
We will start at the “Swap” section. First, choose which of your tokens you want to swap. Here, we chose ETH.
Next, click “Select a token” and choose what you want to swap your token with.
For our purposes, we will be swapping ETH with USDC.
After you have chosen the two tokens to be swapped, choose how much of your original token you want to swap. For us, we will be swapping 0.025 ETH to ~$56 USDC.
Click swap. Look over your swap again and make sure everything is in place, then click “Confirm Swap.”
When you click “Confirm Swap,” you will see a Metamask popup. Click “Confirm” on the Metamask popup.
This is the gas fee confirmation. Metamask will automatically choose a gas fee that is likely to make the swap successful. You can edit the gas fee yourself, but beginners generally do not need to worry about this option yet.
If you come across errors during this step, it is likely that you do not have enough ETH in your wallet to use for gas. ETH gas prices wall vary, but $50-$80 of ETH should get you through many transactions.
Congrats! You’ve made your first trade on Uniswap.
Note that you can swap any two Ethereum-based (ERC-20) tokens on Uniswap. Instead of swapping ETH with USDC, for example, you could swap USDT for OMG or ETH for SHIBA.