A Step-by-Step Guide to Buying Uniswap (UNI)

Author

Reads 1.2K

tablet stock cryptocurrency exchange market
Credit: pexels.com, tablet stock cryptocurrency exchange market

To buy Uniswap (UNI), you'll need to set up a digital wallet that supports the ERC-20 token standard.

Uniswap is an Ethereum-based decentralized exchange, so you'll need to have a basic understanding of Ethereum and its associated wallet options.

First, you'll need to create an account on a reputable cryptocurrency exchange that supports UNI trading, such as Coinbase or Binance.

Before you can start trading, you'll need to fund your exchange account with a payment method like a credit card or bank transfer.

What Is UNI?

UNI is the governance token of Uniswap protocol and an ERC-20 token on the Ethereum blockchain.

Uniswap is a decentralized exchange (DEX) protocol that serves as a trustless and highly decentralized financial infrastructure, aiming to create more efficient markets.

It's an automated market maker (AMM) that allows users to exchange tokens without trusting any centralized intermediary.

Users can earn fees by adding tokens to a pool or adding token trading pairs in Uniswap.

The Uniswap protocol is built on the Ethereum blockchain, which provides the infrastructure for UNI to function.

You can use UNI to participate in the governance of the Uniswap protocol, giving you a say in its decision-making process.

Payment Methods

Bitcoin Gold Cryptocurrency Trading Chart
Credit: pexels.com, Bitcoin Gold Cryptocurrency Trading Chart

You can purchase Uniswap with EUR on Kriptomat using various secure options. One of these options is completely secure.

Kriptomat offers access to these secure payment methods.

Buying UNI

To buy UNI, you can use a credit or debit card on your portfolio screen. Tap on Transact, then select Credit or Debit cards, and add your card details.

You can also buy UNI with a bank account on our web wallet. To do this, you'll need to link your card to your account, and then follow the prompts to complete the transaction.

If you want to buy UNI instantly, you can use a Fill-or-Kill order with a pre-calculated amount or type in your own amount. This will lock in the current price of UNI for 120 seconds, so you can buy at the best price.

What Is UNI?

UNI is a governance token of Uniswap protocol and an ERC-20 token on the Ethereum blockchain.

tablet display stock cryptocurrency exchange market
Credit: pexels.com, tablet display stock cryptocurrency exchange market

Uniswap is a decentralized exchange (DEX) protocol that creates liquidity and trades ERC-20 tokens on Ethereum.

It serves as a trustless and highly decentralized financial infrastructure.

The mission of Uniswap is to create more efficient markets.

Users can exchange tokens without trusting any centralized intermediary in Uniswap.

You'll need to prepare a few things to buy UNI, but first, let's understand what it is and how it works.

With a Card

Buying UNI with a card is a convenient option if you want to purchase it instantly. You can use a credit or debit card to buy UNI.

To buy UNI with a credit or debit card, you'll need to tap Transact on your portfolio screen and select 'Credit or Debit cards'. Then, enter your card details, choose your preferred currency, and tap 'Add card'. After that, choose the amount you want to transact and select 'UNI' as the recipient.

You can instantly buy UNI with your credit card if you don't want to wait for bank transfers. This option is available on some platforms.

Exterior of a building featuring a prominent BTC and exchange sign, indicating a cryptocurrency location.
Credit: pexels.com, Exterior of a building featuring a prominent BTC and exchange sign, indicating a cryptocurrency location.

If you opt for a Fill-or-Kill order with a pre-calculated amount or type in your amount, you can buy UNI instantly. The current price of UNI will be frozen for you for 120 seconds, allowing you to buy crypto for the most lucrative price.

To buy UNI with a debit or credit card, you'll need to enter your card number after clicking on Buy. If you have already linked your card, you can choose it in the list.

Order and Investment

To place an order on Uniswap, you'll need to select a buy order type. You can choose between a one-time purchase or a recurring buy.

If you opt for a recurring buy, you'll have the option to choose between daily, weekly, twice monthly, or monthly purchases.

What Is a DEX?

A DEX (Decentralized Exchange) is an alternative to traditional centralized exchanges, but it's not as simple as that. In theory, DEXs aim to offer more control and transparency, but in practice, they have their own set of advantages and disadvantages.

A sleek laptop showing a blockchain interface on a desk, ideal for technology and finance themes.
Credit: pexels.com, A sleek laptop showing a blockchain interface on a desk, ideal for technology and finance themes.

DEXs embody the pros of centralized exchanges, such as ease of use and liquidity, but also inherit some of their cons, like volatility and security risks.

The key difference between DEXs and centralized exchanges is the level of control and transparency they offer. DEXs operate on blockchain technology, allowing for peer-to-peer transactions without the need for intermediaries.

Use DCA for Investment

Using DCA for Investment can be a game-changer, especially for those new to the crypto market. You can automate your Uniswap purchases over time with Kriptomat's Recurring Buy feature, which is essentially Dollar-Cost Averaging (DCA).

This allows you to spread your investments across regular intervals, reducing the risk from price volatility. With DCA, you can accumulate Uniswap gradually with a specific amount rather than making a single large investment at once.

You can choose from various purchase frequencies, including daily, weekly, twice monthly, or monthly purchases. This flexibility lets you tailor your investment strategy to your financial goals and risk tolerance.

By using DCA, you can make investing in Uniswap feel less daunting and more manageable. It's a great way to get started with investing in crypto, even if you're not sure where to begin.

Storage Options

Credit: youtube.com, How To Store Crypto In Hardware Wallets (For Beginners)

If you buy Uniswap on the Kriptomat platform, it will be transferred to your dedicated and secure Uniswap wallet within their platform.

Each user receives an individual wallet for storing Uniswap and other cryptocurrencies.

Secure offline storage is offered to protect customers and their funds.

Regular security audits are conducted to ensure the platform's safety.

This approach makes Kriptomat a secure haven for storing Uniswap and other cryptocurrencies.

Frequently Asked Questions

Can Americans use Uniswap?

Yes, Americans can use Uniswap, a decentralized exchange that allows peer-to-peer cryptocurrency trading without intermediaries. No regulatory hurdles prevent US residents from accessing this platform.

Can I use a credit card on Uniswap?

Yes, you can use a credit card to buy Uniswap, as it is one of the leading payment methods accepted by Uniswap. Learn how to buy Uniswap in 5 effortless steps.

Forrest Schumm

Copy Editor

Forrest Schumm is a seasoned copy editor with a deep understanding of the financial sector, particularly in India. His expertise spans a variety of topics, including trade associations, banking institutions, and historical establishments. Forrest's work has shed light on the intricate landscape of Indian banking, from the Indian Banks' Association to the significant 1946 establishments that have shaped the industry.

Love What You Read? Stay Updated!

Join our community for insights, tips, and more.