- Easy To Use
- No Sign Up or KYC Required
- Wide Range of Accepted Tokens
- Multiple Supported Blockchain Networks
- Wide Range of Accepted Tokens
- Does Not Accept FIAT Payments
- Above Average Trading Fees
- High Gas Fees
Uniswap is a top-notch decentralized exchange that stands out from the rest. It was one of the first and still remains one of the most popular decentralized exchanges on the market. With Uniswap, you can easily swap any Ethereum-compatible asset (ERC-20) with just a few clicks without needing an account or identity verification.
It stands out from others with its unique fee model that rewards users who provide liquidity to the protocol instead of the exchange. This feature has made it a go-to destination for many Ethereum blockchain users looking to swap assets. Though gas prices can be high, the payouts for providing liquidity often make it worth the cost. If you’re considering using Uniswap Exchange, our review will provide you with all the information you need to make an informed decision before making any swaps.
Is Uniswap Safe?
Uniswap Exchange is extremely secure, as it operates as a decentralized exchange and liquidity pool built on the Ethereum blockchain. This means it has also inherited the security of the Ethereum blockchain. Since it is decentralized, there is no central server that can be hacked. When you provide funds to a liquidity pool, they are locked by a smart contract. This makes it difficult for hackers to steal any funds as they would have to access each individual’s account information. To ensure the safety of your funds, you must keep your wallet secure.
Uniswap Trading Fees
Uniswap Exchange charges a simple and transparent flat fee of 0.30% per trade for both takers and makers. Through this, it removes the need for traders to keep track of different fees, making it simple to calculate the cost of a trade. It is worth noting, however, that this fee is slightly higher than the industry average of 0.25%.
Keep in mind that users still have to pay gas fees in order to complete network transactions. Depending on network congestion, these can vary.
Supported Coins & Networks
As of now, Uniswap accepts close to 900 different tokens from a total of five different networks. The five networks in question are Ethereum, Polygon, Optimism, Arbitrum, and Celo. Most notably, Uniswap accepts all ERC-20 compatible assets. Click here to see the full list of supported tokens.
UNI is the native token of the Uniswap decentralized exchange. It was first created in September 2020 as part of Uniswap’s “V2” upgrade. UNI has multiple uses within the Uniswap ecosystem. Apart from being Uniswap’s official governance token, it has many other uses such as liquidity mining, collateral, as well as different incentivizes for users. Users can trade UNI on various decentralized and centralized exchanges, and the value of UNI is determined by market demand.
Because Uniswap is decentralized, its customer support structure works differently. Users are solely responsible for maintaining the security of their assets and private keys because of the lack of a centralized body in charge of the platform. Uniswap offers resources to assist users in understanding the platform, but it cannot help recover lost or stolen funds as it lacks the capability to do so. Instead, users can seek help from the community if they run across any issues. This can be done through community-run channels such as Telegram, Twitter, and Reddit through which users can ask for help and receive support from other users.