When I first downloaded Metamask and linked it up with Uniswap I was convinced all my money was going to disappear.
I had so much conviction that I was falling for a scam.
But, rest assured, taking the leap of faith was worth it.
And for your journey, I will arm you with 3 things:
- Access to lesser-known moon-potential crypto-currencies. This is what prompts most people to start using Uniswap. The fact that there are far more coins launched here than there are on centralized exchanges. And if you’re looking to make bank, this is probably the best place to be.
- Weaponry. Two mighty weapons in the cryptocurrency world. An exchange, and a wallet. Powerful if they’re used correctly. Terrible if disrespected.
- The magical ability to trade cryptocurrencies without having to verify your identity. I’m pretty sure this resonates with a wide audience. Americans especially. And also the younger, keener generation of crypto teens that are simply to young for sites like Binance.
How to Install Metamask
Let’s not waste time.
Like a chimp to a banana--the first thing you need is a copy of Metamask installed on your device. This is quick and easy to accomplish.
If you’re sane of mind, you’ll be using a computer of some sort. Windows, Mac or Linux, doesn’t matter; they all support Chrome-based browsers. And this makes the process simple:
- Goto the Metamask homepage. This approach will lessen the chance that you download a malicious version. There are scams, beware.
- Download the Chrome extension. Completely free, and couldn’t be more user-friendly to do this.
- Install the Chrome extension. I’m pretty sure this part is automated? If not, click whatever shiny button you’re prompted to.
- Complete the sign-up process. This probably requires you to input a password of some sort. Can I suggest using a password that you remember?
- Store your seed-phrase and password. I promise you, at some point in your life: you will forget your password. So make sure you store your seed phrase in a safe place. The seed phrase will unlock your wallet regardless of what your password is. Protect it more than you would a password.
If you’ve followed those five simple steps, you’ve made it in life. Congratulations. You have upgraded from ape to bonobo.
Interestingly, Bonobo are capable of making fires and toasting marshmallows.
Just as this task is seemingly simple, Metamask have made it easy for decentralized applications, like Uniswap, to communicate with your wallet.
This makes the whole process streamlined. But, I’ll lay out some simple steps for you.
- Make sure that Metamask is downloaded, installed and enabled. If you read the last section, you should have it installed.
- Navigate to Uniswap. You’ll need to be on the Uniswap page to use it. People tend to use the web-facing front-end, though there are backend integration that I’m sure some more advanced users make use it.
- Check Metamask can access the page. Otherwise you won’t be able to link with Uniswap. Click on the Metamask icon, if it’s visible, and allow Metamask to access app.uniswap.org. Just make sure that you’re on the correct site though. You want app.uniswap.org.
- Allow Uniswap access to Metamask via the notification box pop-up. If you don’t see a pop-up, click the Metamask icon. There should be a notification bubble on the icon. If there is not a notification bubble, you go back to step 2--you haven’t given Metamask access to the page.
- Confirm that your balance is shown on Uniswap. Uniswap will display your balance in the top-left corner. If it does not, try refreshing the page. If all else fails, double-check you are actually on Uniswap.
If, like me, you’ve got 0 ETH in your wallet. You’ll need to fund your Metamask wallet. Without money, you cannot buy.
Funding your Metamask wallet
- Buy some crypto. Preferably Ethereum. from a good cryptocurrency exchange. I advise using Binance. They are the most popular exchange. And, if you use my link, you get a kickback on trading fees for life--well worth it.
- Locate your Metamask wallet address. Open Metamask. Login if you’re asked. Click on the Ethereum icon--top-center of the window--to copy the address to your clipboard.
- Withdraw funds from the exchange (send to Metamask). Goto your exchange. Paste the Ethereum address we copied from Metamask.
- Track the transaction. If you want, you can paste in your Ethereum address into a block explorer. Using this, you’ll see the status of the transaction and can confirm that you’re funds are on their way.
- Wait. Depending on network congestion, the transfer can take a few minutes. It will be faster once the Ethereum network upgrades to 2.0 in a few months.
- Confirm reciept. You’ll see your funds in your Metamask wallet once they’ve been received.
Now that you have Ethereum in your wallet, you can make a trade--actually, an “atomic swap”.
How to perform a trade(swap) on Uniswap
Uniswap using “atomic swaps” to trade currencies. It might sound complex but in practice its simple.
- Goto the Swap tab on Uniswap.
- Select the cryptocurrencies that you would like swap.
- Approve the process.
- Then confirm the process.
- Await the arrival of your new currency.
Make sure that it’s only asking to view the address of your permitted accounts. Anything more should throw up red flags. Make sure you’re using app.uniswap.org.
How to reduce Uniswap fees by wrapping Ethereum
First, exchange your
WETH. This way we’ll get better fees, and better transaction times.
And await the completion of the trade. If you click the pending button, you’ll get the links for your Etherscan transaction.
And on completion, you’ll be see a completed notification.
The process of buy altcoins through Uniswap is slightly more complex than going to Coinbase. I’ll agree with that.
But, you get access to a world of untapped gems, only accessible on Uniswap.
You’ll need a wallet that connects to Uniswap, in this case, we’ve used MetaMask. Once we got some
ETH, we wrapped it to save on fees and make transactions faster. Then we swapped it for
LTO, an altcoin we fancied!