Launched in November 2018, Uniswap is a decentralized cryptocurrency exchange, a protocol for building decentralized finance apps and other applications, and a cryptocurrency: the Uniswap token, or UNI. The Uniswap ecosystem allows users to earn returns on transactions by staking crypto to liquidity pools. Hundreds of wallets, DeFi apps, Web3 tools, DEX aggregators, and other decentralized apps have been built with Uniswap.
Uniswap is implemented as smart contracts and APIs on the Ethereum blockchain, which is the most widely used foundation for decentralized applications. The protocol supports Ethereum-based level 2 blockchains such as Polygon, Optimism, and Arbitrum.
UNI is the governance token of the Uniswap ecosystem. UNI owners make proposals about new projects, prioritize ongoing development, and refine the long-term vision of the Uniswap ecosystem. As the protocol grows in popularity, the UNI token gains value.
The growing importance of decentralized apps for DeFi and Web3 applications has made Uniswap and UNI attractive to investors.
Here are a few tips on where and how to buy Uniswap (UNI).
Where to buy Uniswap (UNI)
UNI is available for purchase on a great many custodial cryptocurrency exchanges and DEXs. Ironically, this large number of potential buying spots makes settling upon a single platform one of the most difficult tasks when you are figuring out how to buy Uniswap.
Most exchanges – especially DEXs – are geared to the needs of a relatively small customer base that consists of experienced cryptocurrency wizards who are comfortable installing a wallet, keeping cryptographic keys secure, and interacting with blockchains directly.
The crypto world is now outgrowing its high-tech roots and attracting new users and investors, first-time buyers who are interested in buying UNI but not in becoming adept at debugging smart contracts or mastering the arcane technical details of public-key cryptography.
Traditional platforms and DEXs don’t provide the security, assistance, explanations, or tools that new users need. They target computer-science grads and blockchain experts. They’re great solutions for digital insiders, but they miss the mark when it comes to everyday buyers and investors.
Custodial crypto platforms are easy to use. They make it simple to check out the current Uniswap price in whatever currency you like, and they step you through the process of making a purchase. If you are a newcomer to the world of crypto and you would like to buy UNI tokens, Kriptomat is a great option.
One of the first things you will learn is that creating your account is not a simple matter of selecting a username and password. Reputable crypto exchanges comply with local and international financial regulations. They will require you to verify your identity by uploading a scanned copy of your passport or another government-issued ID. These regulations satisfy the Know Your Customer requirements of online business that are subject to the money-laundering detection and prevention aspect of the European Union’s General Data Protection Regulation, or GDPR.
Identity verification takes days or even weeks at some crypto platforms. At Kriptomat, the streamlined KYC process can be finalized in a matter of minutes.
The process will require you to upload a high-res scan or photo of your passport or other government-issued ID. The Kriptomat website and mobile app then guide you through the process of creating a selfie – a photo that matches the image on your ID. Identity is usually verified within a matter of just a few minutes.
How to buy Uniswap
After you have signed up at Kriptomat and completed the KYC process to verify your account, it’s time to embark upon the next steps in how to buy UNI.
Using your Visa or Mastercard is fast and easy. Simply choose Buy from the menu and follow prompts will guide you through the process. Within seconds, your UNI tokens will be credited to your Kriptomat account and the balance will appear in your wallet.
If you would like, you can keep your credit cards in your wallet and fund your Kriptomat account with a wire transfer instead – either from your bank or from a service such as Skrill or Neteller.
Whichever means you choose, you find that Kriptomat gracefully accepts funds in the most widely used European fiat currencies – everything from euros and GBP to Swiss francs and Hungarian forints. Once your deposit appears in your wallet, you can simply follow the instructions and menus to make your UNI purchase.
That’s really all there is to it. You are now an expert practitioner at the art of how to buy UNI.
Choosing where to buy Uniswap is the most critical decision you will make. As you evaluate websites, exchanges, DEXs, and other platforms, ensure that you look at the big picture. You want to buy and sell crypto at a reputable business that has security certification, easy-to-use investment tools, licensure and certification in your country, and first-class customer support.
Note that you will not receive any physical Uniswap tokens when you purchase UNI on any platform. The Uniswap tokens you purchase will be transferred to your encrypted address on the blockchain. If you’ve chosen a custodial platform like Kriptomat, you don’t need to worry about all that. All the technical matters and encryption will be handled for you to make sure that your coins and tokens are transferred speedily and stored securely.