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Home » Buy Cryptocurrency » How To Buy Uniswap (UNI)
Uniswap is a promising cryptocurrency focused on Decentralised Finance (DeFi). Based on the Ethereum protocol, the aim of the team is to develop a global decentralised cryptocurrency exchange. This exchange has no central operator and can be used by traders to buy and sell assets at a lower cost.
The UNI token is used to pay for transactions and can itself be bought, sold, or exchanged. Unlike centralised exchanges that keep a central order book that holds all the orders, the Uniswap exchange operates using liquidity pools.
What this means is that liquidity providers lock two coins or tokens in a smart contract and earn a percentage of trading fees and newly-minted UNI. Traders can then buy and sell either of the two cryptocurrencies by tapping into the liquidity pool. This is a similar protocol to that used by Curve and Balancer.
Since Uniswap is based on Ethereum, it can only handle the trade of coins that share the same blockchain. This means that popular coins, such as Bitcoin and Litecoin, cannot be processed. However, this decentralised exchange allows anyone to list a token as long as there is a liquidity pool tied to it.
This is just one of the uses for Uniswap and its cryptocurrency, UNI. Another popular use is for online trading and speculating. We will discuss this in more detail throughout this Uniswap guide.
Let’s first have a look at where you can invest in Uniswap CFDs:
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
72% of retail CFD accounts lose money
Your capital is at risk
Uniswap was launched in 2020 and today ranks as the 11th largest cryptocurrency according to its market capitalisation. That’s quite an achievement, considering that the coin has surpassed older and better-known coins, including Litecoin and Bitcoin Cash.
Due to the coin’s increased popularity, a number of cryptocurrency exchanges and online brokers have begun to support it. This means that buying UNI online is relatively easy.
If you’re unsure how to buy your first Uniswap token online, here is a simple step-by-step guide:
If you’ve chosen an instant payment method, such as cards or eWallets, you should find your UNI instantly in your cryptocurrency wallet. However, if you’ve opted for a slower method, such as a bank transfer, you will need to wait for the funds to get to your exchange’s account before you can buy UNI.
By buying Uniswap online you will be able to make use of the decentralised exchange and trade cryptocurrencies for less. You can also invest in UNI because you believe that its price volatility makes it a good investment. After all, whilst its price in 2020 topped out at $6.90, 2021 has seen the coin’s value skyrocket to over $43.
Choosing which cryptocurrency exchange or alternative platform to use depends on what you plan to do with your UNI tokens. It is also important to determine which payment methods you have at your disposal since different platforms provide different ways to pay.
One of the most convenient ways to buy UNI right now is by using debit or credit cards. Fast, and easy to use, they are an extremely popular way to buy cryptocurrency online. Most online exchanges that accept card payments let you pay using Visa or Mastercard. Some also support JCB, American Express, or UnionPay.
Using cards is also convenient since your base currency will be automatically converted to the exchange’s supported currencies. Moreover, in case of fraud, you will be able to claim a chargeback.
However, whilst buying Uniswap with a credit or debit card is convenient, it is usually more expensive than other methods. This is due to the fact that exchanges must pay above-average fees when accepting card payments online.
You can start buying Uniswap today using a debit or credit card at one of these top-rated exchanges:
Buying UNI with PayPal could be convenient and secure, however, this is very difficult. Due to PayPal’s high merchant costs, most exchanges and online brokers do not support this payment method. There are, however, possible solutions.
If you set on buying Uniswap using PayPal you should browse through reputable P2P trading platforms. These websites are designed to put buyers and sellers in touch and provide them with the liberty of negotiating deals and payment methods. You could, therefore, search such platforms for UNI sellers that are happy to accept PayPal.
Another option is to invest in Uniswap Contracts for Difference (CFDs) instead of buying the actual token. Investing in CFDs allows you to benefit from price fluctuations without having to buy the actual token. This means that to invest in these financial instruments you need to visit a CFD trading platform, not a cryptocurrency exchange.
eToro is one of the world’s best-known CFD trading platforms. Featuring a variety of cryptocurrency derivatives, including Uniswap, it allows you to fund your account using PayPal and a range of other methods.
Here are some of the best CFD trading platforms that let you buy UNI using PayPal:
72% of retail CFD accounts lose money
If you’re looking for ways to save on transaction fees, bank transfer might provide the answer. Whilst they are slow and can be inconvenient, bank transfers are commonly accepted by most reputable exchanges and online brokers.
Unlike cards and other payment methods, users are not usually charged for funding their exchange account via bank transfer.
A typical SWIFT bank transfer could take between five and 10 days to get to your broker. If you are based in an EU country and are able to fund your account in EUR, you could benefit from faster transactions through SEPA.
Here are some of the best-rated platforms that let you buy Uniswap or UNI CFDs with a bank transfer:
If you’re looking to buy Uniswap from a reputable exchange anonymously, it can be difficult. Most exchanges require you to register an account and comply with Know Your Customer (KYC) procedures. There is, however, an alternative known as Changelly.
This cryptocurrency exchange is designed to facilitate the purchase or trade of coins with minimal interference. Using just your email address, you will be able to trade one cryptocurrency for UNI.
Another way to buy UNI anonymously is to find sellers on P2P trading platforms. Even though you might need to register an account, your details should not be shared with the seller without your consent. It is important to note that buying crypto in this way can be risky due to the possibility of fraudsters operating on such platforms.
One of the best places to buy UNI is online. There are several top-rated exchanges and brokers that let you buy Uniswap using your favourite payment methods.
The following exchanges are known for providing a great user experience and for accepting a variety of payment options:
You should always buy UNI and other cryptocurrencies from a tried and tested platform. Unfortunately, there are many rogue brokers on the Internet, however, you can avoid them by opening an account with one of our recommended platforms.
The best way to buy Uniswap with cash is to find a seller in your area who is willing to accept this payment method. You are most likely to find such an individual on a P2P trading platform. If you do, ensure that your UNI has been successfully deposited into your wallet before handing over your money.
Whilst you can buy Uniswap using a variety of fiat currencies, you can save significant fees if you use cryptocurrencies instead. Known as trading rather than buying, you can convert one coin or token, such as NEO, to UNI.
We recommend using Binance to trade UNI or any other cryptocurrency. Considered to be the largest cryptocurrency exchange, Binance supports over 1,000 coins and tokens. Trading fees are extremely competitive and the service has a positive user rating. Furthermore, you can also buy coins using a debit or credit card.
Here are other reputable platforms that allow you to trade Uniswap:
Uniswap is allowed across the world in countries that accept cryptocurrencies. Just like any other crypto coin or token, you should not buy, trade, or use UNI if you are located in a country that has outlawed or restricted cryptocurrencies.
In many cases, you will find that top-rated exchanges and online brokers do not open accounts for users based in countries that have made cryptocurrencies illegal.
If you are based in the USA, you should be aware that certain exchanges will not be able to provide you with an account. Examples of these include ChangeNOW and BitMEX. Furthermore, since CFD trading is illegal in the country, trading platforms, such as Plus500 and XTB are also banned from onboarding US residents.
Uniswap CFDs provide a more convenient and practical way to trade UNI frequently. These asset derivatives have a proven history in other markets and are quickly becoming a popular way to trade cryptocurrencies.
There are several top-rated CFD trading platforms that let you buy and sell UNI contracts. These include:
When trading UNI CFDs you need to be aware of the risks. This advanced financial instrument allows you to trade with leverage and this can significantly increase potential profits. However, if the asset does not behave as you’ve predicted, you may experience equally significant losses. You should only trade Uniswap CFDs if you understand the risks and can afford potential losses.
There are numerous cryptocurrency wallets that let you store Uniswap securely. The best hardware wallets for UNI are the Ledger Nano S and Trezor. Both of these cold storage devices provide a cost-effective way to store and manage your cryptocurrency securely.
If you’re looking for a convenient and free way to store UNI you should try Guarda. Available across digital devices, this wallet lets you store, transfer, and trade UNI directly.
However, if your intention is solely to trade UNI for a profit, then you should consider investing in Uniswap CFDs. By buying these instruments you are not purchasing the underlying asset. This means that you do not need to store any coin or token. As a result, UNI CFD trading is normally cheaper and faster than actually buying Uniswap.