How to Use Uniswap
Uniswap is the largest decentralized exchange (DEX). Trade any ERC-20 token directly from your wallet with no account needed.
What is Uniswap?
- Decentralized - No company controls it
- Non-custodial - You keep your keys
- Permissionless - Anyone can use or list tokens
- Open source - Code is public and audited
What You Need
- Web3 wallet (MetaMask, WalletConnect)
- ETH for gas fees
- Tokens to swap (or ETH)
How to Swap Tokens
Step 1: Connect Wallet
- Go to app.uniswap.org
- Click "Connect" in top right
- Select your wallet (MetaMask, etc.)
- Approve the connection
Step 2: Select Tokens
- Click token selector for "From" token
- Select token you want to sell
- Click token selector for "To" token
- Select token you want to receive
Verify Token Addresses
Anyone can create tokens with any name. Always verify contract address on CoinGecko or official project site. Scam tokens are common.
Step 3: Enter Amount
- Enter amount to swap
- Review estimated output
- Check price impact (should be low)
- Review minimum received
Step 4: Approve Token (First Time Only)
- If first time using this token, approve it
- This is a separate transaction
- Costs gas but only needed once per token
Step 5: Confirm Swap
- Click "Swap"
- Review details in popup
- Confirm in your wallet
- Wait for transaction to complete
Slippage Settings
Click the gear icon to adjust slippage tolerance. Default 0.5% works for most trades. Increase for volatile tokens or low liquidity.
Understanding the Interface
| Term | Meaning |
|---|---|
| Price Impact | How much your trade moves the price |
| Minimum Received | Worst case output (after slippage) |
| Slippage Tolerance | Max price movement you'll accept |
| Network Fee | Gas cost for the transaction |
Providing Liquidity
Earn fees by adding to liquidity pools:
Adding Liquidity
- Go to "Pool" tab
- Click "New Position"
- Select token pair
- Choose fee tier (0.05%, 0.3%, or 1%)
- Set price range (v3) or leave full range
- Enter amounts and confirm
Uniswap v3 vs v2
| Feature | v2 | v3 |
|---|---|---|
| Liquidity | Full range | Concentrated |
| Capital efficiency | Lower | Higher |
| Management | Passive | Active |
| LP tokens | Fungible | NFT positions |
Supported Networks
- Ethereum - Main network, highest fees
- Arbitrum - L2, much lower fees
- Optimism - L2, similar to Arbitrum
- Polygon - Sidechain, very low fees
- Base - Coinbase L2
Save on Gas
Use Layer 2 networks for smaller trades. Arbitrum and Optimism have same Uniswap interface but 10-50x cheaper transactions.
Safety Tips
- Always verify token contract addresses
- Check liquidity before trading (low liquidity = high slippage)
- Watch for honeypot tokens (can buy but not sell)
- Use official app.uniswap.org only
- Revoke approvals for tokens you no longer use
Scam Token Warning
New tokens appearing in your wallet that you didn't buy are usually scams. Don't try to sell them - interacting may drain your wallet.