Uniswap is the leading decentralized exchange (DEX) running on the Ethereum blockchain. To be more accurate, it is an automated liquidity protocol which allows users (anywhere in the world) to trade crypto without an intermediary. There is no order book or any centralized party required to make trades. Traders can swap Ethereum tokens and Ethereum-based tokens on Uniswap without trusting any party with their funds. Users can also lend their tokens to Uniswap’s liquidity pools and earn fees in exchange.
In addition to it, It is pretty simple to use because of its design that doesn’t exist on its challengers platforms. As the Uniswap token (UNI) hovers in the top 10 market caps for cryptocurrencies, Uniswap continues to occupy a significant role in the DeFi ecosystem.
Being a decentralized platform, it doesn’t work the same way as a centralized exchange, which means you need to connect a non-custodial wallet to it. Like- MetaMask
While Uniswap continues to be one of the most important platforms for users to swap tokens, it will be imperative to know how to get your wallet connected to it. In this guide, we will discuss all the important points you really need to know about connecting the Metamask wallet to the Uniswap platform.
We have created this step-by-step guide to make it a cakewalk for you. So, let’s get started!
1- Install MetaMask Wallet
It is a cryptocurrency wallet that enables users to access the Web 3 ecosystem of decentralized applications (dapps). It is a non-custodial wallet that can be accessed from your browser (Extension) or mobile (App) and it offers complete control over one’s assets. This can be installed like any regular extension. Post installation, it allows users to store Ether and other ERC-20 tokens, allowing them to make transactions to any Ethereum address.
[Note - If you have already installed MetaMask, you can skip this step].
a) To create a new wallet, you must first install the plugin. Download it from here https://metamask.io/download/
They offer support for the browsers Chrome, Firefox, Brave and Edge, as well as both iOS and Android.
b) Now, follow a series of easy steps required to complete the setup. Once you get to the backup seed phrase, Keep it secured(preferably offline) and do not share this ever.
c) Congratulations! You’ve just created a MetaMask account. It should look something like this:
2- Link Uniswap To MetaMask
a) Once your MetaMask wallet is ready. Just Go to the Uniswap.org site and Click on the “Launch App” button available in the upper right corner of the webpage.
b) Now, you will be able to see the “Connect Wallet” option in the upper right corner. Click on it.
c) After clicking the “connect wallet” option, a pop will appear, presenting you with a list of Ethereum wallets supported by Uniswap. Just, Choose the “MetaMask” wallet option.
d) Now, enter your password and you will be connected. MetaMask will show you the permission request. This permission allows Uniswap to see your wallet balance, activity, and send requests for transactions. But Uniswap cannot move funds without your permission.
e) So, click on the Blue button “Connect”.
And there you go!
You have successfully connected your MetaMask wallet to Uniswap.
Now you can start swapping!