(GUIDE) How to trade on uniswap correctly

[zasad@]

Uniswap discussion


There are many scammers on uniswap who sell tokens with the same name. If you purchase such a token, you will incur losses.
This small guide will help you not to lose your money.
On the
https://uniswap.info/home
enter YAM into the search bar and find a lot of tokens.



Which one is the real one?

You need to go to coingecko or coinmarketcap, or better at 2 services at once and find the address of the smart contract

https://www.coingecko.com/en/coins/yam-v2
https://coinmarketcap.com/currencies/yam-v2/



Result:

https://etherscan.io/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a
https://etherscan.io/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a
https://ethplorer.io/address/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

In 2 cases, we receive the address of the smart contract:

0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

Now let's go to uniswap:
https://uniswap.info/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a




Press the button "I understand"

A new page will open.



After clicking on the "trade" button you can trade on the uniswap exchange.

https://app.uniswap.org/#/swap?inputCurrency=0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

Be careful and do not fall for the tricks of scammers.


Disclaimer: Token YAM is used as an example. This article is for educational purposes and does not constitute investment advice.

[Mumbeeptind1963]

Thank you for making this one, I notice that some of the new coins now in the market or some IEO/ICO are in talks with UNISWAP? I got more curious about this one, and probably will browse in their website, I think they offer some things that other exchanges do not have. Most of the project that I know has a low supply and if I am not mistaken they launch their IEO in there, and they have succesfully sold all of their tokens.

[minairia3]

I am a frequent user of uniswap I say this is a great tutorials. Im accesing my uniswap via trustwallet and soemtime via metamask to be safe.

The problem with other people being scammed is the ability to rush thing when it comes to smart contract. Sometime, they just copied any smart contract on social group which is not announced by the team and will complained about them being scammed. This is the most problem on most users.

Thank you for making this one, I notice that some of the new coins now in the market or some IEO/ICO are in talks with UNISWAP? I got more curious about this one, and probably will browse in their website, I think they offer some things that other exchanges do not have.

Because its easy to integrate on dex like uniswap using an atomic swap exchange. Compared to previous dex, direct swapping is easier and mostly can be done within minutes unlike forkdelta that you need to wait for your orders to be filled. Very easy and convenient.

[IvugeoEvolutionCoin]

This guide makes a lot of sense OP, especially for newbies to uniswap. Sometimes tokens with same ticker might not be copycat of the real one, and sometimes might be from scammers attempting to lure in people to buy their fake copycat tokens, but it's your duty as a trader to know the correct smart contract address for the token you want to trade. This is the more reason why uniswap gives the warning ⚠ to avoid regrets if you swap the wrong token.

[Kang TB]

thanks a lot for this guide my friend
personally i confuse about how to trade in uniswap,
so, i never trade there, even i want to buy some alt in uniswap, but because i don't know how to trade there, i never buy the alt,,

[zasad@]

thanks a lot for this guide my friend
personally i confuse about how to trade in uniswap,
so, i never trade there, even i want to buy some alt in uniswap, but because i don't know how to trade there, i never buy the alt,,

Check out any guide, this is the easiest exchange in the world
https://www.youtube.com/watch?v=dcZ7kVC2-6g

Install Metamask Wallet for your browser.
https://metamask.io

I use a more secure option, connecting a hardware ledger wallet to the metamask wallet, and confirm all transactions by pressing the keys. This provides additional security.
It is better to figure it out now, because when you see a great investment opportunity, you will not have the experience and skills to carry out the transaction, or you will simply make mistakes (setting the wrong commission, etc.)

[Ucy]

So, you search for the yam on Uniswap and you're presented with both fake and real yams? (almost thesame problem Uniswap creator or users complained about concerning Google Search letting fake Uniswap exchanges appearing on its search result).
I wonder if it's a good idea to allow the fake ones appear on the search result when people search for real one on Uniswap exchange. It is not in my opinion.  
I think by now there should be ways to filter out the fake ones that have the intention to scams the exchange user. I don't think it's hard thing to do/fix.

 

[whofeelsitknowsit]

This is why people should use REN and not YAM.

[mersal]

In recent days the trading volume of Uniswap is getting increased like mad, it even went near the value of top centralized exchange but it doesn't mean every token traded there is real one.Personally never used UNISWAP because I am not buy any of those shit tokens due to the recent hype but this guide will be helpful for the altcoin lovers especially for the short hands.

[xOdiumNostrumx]

There is also a necessity to "approve" tokens before being able to make a swap. People should be aware of it because it can be a negative surprise if you are in a situation of dumping/buying a newly listed token and time is of the essence. Also the slippage settings can be important in some situations, but I guess this guide is more about how to identify the correct ETH contract.

[Henrytrust]

There is also a necessity to "approve" tokens before being able to make a swap. People should be aware of it because it can be a negative surprise if you are in a situation of dumping/buying a newly listed token and time is of the essence. Also the slippage settings can be important in some situations, but I guess this guide is more about how to identify the correct ETH contract.

Yes, you're not far from the truth, but that's because you already know how to navigate your way on uniswap, I once taught that uniswap was a platform for swapping tokens, because of the swap in the title. It's nice that the platform could also be used for staking as some projects like net coin uses the platform.

[zasad@]

I think by now there should be ways to filter out the fake ones that have the intention to scams the exchange user. I don't think it's hard thing to do/fix.

How do you propose to do this on a decentralized exchange?
The maximum that is possible is to write that you should trade with caution and put the ⚠

If the exchange begins to prohibit or not show some tokens, then the whole meaning of "De" is lost.

I did not delve into this issue in detail, but if the Ethereum platform forbade the creation of tokens with the same three-letter codes, then this problem would not exist.

[electronicash]

to make sure you just try the contract address. this will provide the correct token than just searching the name.

scammers are having a feast in uniswap. a new token can actually have a good price in uniswap, they can just set it liquidity and then promote the project. CMC seem to be adding the weight of the problem because they are adding coin on their list making it look legit even when its just on Uniswap.

[Crypto_lion]

Thanks to the op for making a good guide. These decentralized exchanges are very tough for a noob as there are a lot of scam coins trading. They need all the help they can get.

[Xembin]

Reason why people should make use of REN NOT YAM:
1) REN is when trusted and reliable in trading on unswap,they offer somethings other exchange don't have.it hard for scammer to penetrate into their private stock.
2)REN is when reliable in browse to know new coins in the market.
YAM aspect not too reliable in direct swapping  because:
1) easy for scammer to scam people.
2) faster not too reliable uniswap.

[Erumo]

Look identically with etherdelta/forkdelta "add token" feature. Do I get it correctly - everything can be traded via uniswap and all you have to do is to add your token via correct smart contract address ?

Maybe consider creating guide how to trade on uniswap, but this time put it in beginner and help sub-forum ?

[pakhitheboss]

Hey OP!

Thanks for creating this short and informative guide. I have not tried uniswap till now but after reading your guide I will be careful whenever I plan to use it.

Such guides will certainly help in stopping scams.

[bigcash2011]

Uniswap has become most used and preferred instant swap dex and no doubt it is one of the most simple and efficient interface and yes scammers are also taking advantage of uniswap in different ways so all the traders and investors need to be careful and double cjeck everything before initiating a trade.

[Zeehaxan]

Uniswap discussion


There are many scammers on uniswap who sell tokens with the same name. If you purchase such a token, you will incur losses.
This small guide will help you not to lose your money.
On the
https://uniswap.info/home
enter YAM into the search bar and find a lot of tokens.



Which one is the real one?

You need to go to coingecko or coinmarketcap, or better at 2 services at once and find the address of the smart contract

https://www.coingecko.com/en/coins/yam-v2
https://coinmarketcap.com/currencies/yam-v2/



Result:

https://etherscan.io/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a
https://etherscan.io/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a
https://ethplorer.io/address/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

In 2 cases, we receive the address of the smart contract:

0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

Now let's go to uniswap:
https://uniswap.info/token/0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a




Press the button "I understand"

A new page will open.



After clicking on the "trade" button you can trade on the uniswap exchange.

https://app.uniswap.org/#/swap?inputCurrency=0xaba8cac6866b83ae4eec97dd07ed254282f6ad8a

Be careful and do not fall for the tricks of scammers.


Disclaimer: Token YAM is used as an example. This article is for educational purposes and does not constitute investment advice.

Uptill now i have only traded the officially listed tokens at uniswap only and not something with open smart contract address so i have not faced any issue but it is good that you posted for general awareness and it will save many from buying wrong tokens.

[Anonylz]

Uniswap gradually turning into etherdelta and forlkdelta because of the number of scam project being created on the platform on a daily basis, a guide like this will really go along way to help new users of the platform to trade safely and prevent them from falling in hands of scammers.