Know Your Crypto: Uniswap (UNI)

- Uniswap is an Ethereum based Crypto exchange.
- Its native token is known as MIOTA.

Uniswap is a decentralized exchange (DEX) that runs on the Ethereum blockchain. It is a popular choice for crypto traders because it offers a number of advantages over centralized exchanges.

First, Uniswap is open source, which means that anyone can use the code to create their own DEX. This makes it more decentralized and secure, as there is no single point of failure.

Second, Uniswap allows users to list tokens for free. This is in contrast to centralized exchanges, which often charge high fees to list new coins.

Third, Uniswap does not require users to give up control of their private keys. This means that users retain full custody of their funds, which is not the case with centralized exchanges.

Finally, Uniswap is very easy to use. Users can simply connect their wallet to the Uniswap website and start trading.

To buy Uniswap, you will need to have an ERC-20 compatible wallet, such as MetaMask or Coinbase Wallet. You can then add Ether to your wallet and use it to trade on Uniswap.

Gas payments vary in price depending on how many people are using the Ethereum network. Most ERC-20 compatible wallets give you three choices when making a payment over the Ethereum blockchain: slow, medium, or fast. Slow is the cheapest option, fast is the most expensive, and medium is somewhere in between. This determines how quickly your transaction is processed by Ethereum network miners.

Here are some of the pros and cons of using Uniswap:

Pros:

Open source
Free to list tokens
Users retain control of private keys
Easy to use

Cons:

High gas fees during peak times
Not as many trading pairs as centralized exchanges
Not as user-friendly for beginners

Overall, Uniswap is a great option for crypto traders who want to trade on a decentralized exchange. It is open source, free to use, and easy to use. However, it is important to be aware of the high gas fees that can occur during peak times.