The global recognition of the Uniswap DEX exchange is breaking records – this platform ranks first in the ETH network in terms of resource costs on commissions. The number of platform users is constantly growing, and this makes us believe once again that Uniswap is really needed by the crypto community. Read the below cryptocurrency overview to figure out what kind of platform it is and why it is so popular.
How does Uniswap work?
Uniswap is a decentralized exchange that allows traders to directly exchange cryptocurrency. This means that all transactions here are carried out between users’ wallets without the participation of third parties. This is possible thanks to the usage of smart contracts, which automatically track the fulfillment of all the conditions of the transaction without human participation. In turn, this excludes the possibility of fraud, rate changes, etc.
Uniswap (UNI) is a liquidity token of the same-name DEX. UNI also allows managing the development of the service by voting for certain changes within the platform. The holders of these coins determine the mechanism for distributing coins among community members and developers. The coin was released in September 2020 and allowed Uniswap to transfer some management tasks to users. Thus, the level of community trust in Uniswap and the rating of the DEX have increased.
The decentralized exchange was developed to facilitate the most challenging market situations. The decentralizing character of Uniswap helps remove the domination and strength accumulated by the biggest exchanges. In addition, Uniswap occupies a significant place in providing new companies with access to crypto liquidity.
How to purchase a UNI token?
Fortunately, purchasing UNI is easy. The good name and sustainability of this coin create a demand on most large exchangers. For example, Changelly provides many UNI trading pairs, which you can view here. To get started, you need to register an account and verify your identity before you can bid.
After registration, you need to replenish your fiat account. This is done via bank transfer or debit card. Now, your account is active, and you have funds available, so you are ready to buy cryptocurrency for fiat money. It is recommended to buy Tether or ETH and then exchange them for UNI. The registration procedure will last no more than 15 minutes.
UNI tokens are easy to store. You can keep these versatile digital assets in any ERC-20 compliant wallet. Whether you are looking to make a large investment in UNI or plan to hold this coin for a long period, a hardware wallet is the best option. Hardware wallets store your altcoins offline in “cold storage”. This approach prevents some online threats because nobody will be able to access your assets.
Should you invest in UNI?
The Uniswap team has created a truly unique project. It meets the popular ideas of decentralization, anonymity, and ease of altcoins use. Uniswap is constantly evolving and looking for new solutions that will make the use of this site even more beneficial for the USA/EN users.
There are currently many DEXs that have copied the strategy of this unique platform. However, no one has seen the success that this decentralized network has achieved. For these reasons, you can expect Uniswap (UNI) to continue to maintain great value in the market in the coming years.
