Purchase ether and bitcoin

Intro

We have a Metamask wallet with $1,000 (1000 DAI) and some ether.

0. Metamask: How to use and Setup

Main Steps in this guide:

1. Uniswap: buy ether
2. Uniswap: buy wrapped bitcoin

1. Uniswap: get Ether

• Meet uniswap.exchange:

Click Connect to a wallet and Select MetaMask:

• Accept to Connect:

Note: We are going to buy 500 dollars of $ETH with 500 $DAI.

• Select From “DAI”
• Select To “ETH”
• we specify to change 500 dollars
• we click on “Approve DAI” to allow uniswap interact with our DAI tokens. This is done once. After that “Swap” button will be enabled.

Note: this involves an ethereum transaction

• click on Confirm

• Approve DAI, wait for “transaction is confirmed!”
• We can click on “Swap”

• Confirm Swap:

Make sure to click the MetaMask icon to see and confirm the transaction to commit the swap of 500 DAI in ETH:

• Click on Confirm

• Transaction submitted:

• Transaction Confirmed
• We have effectively exchanged 500 dollars into $ETH
• We do the same transaction but this time we swap 500 DAI in WBTC (Wrapped Bitcoin, the Bitcoin that runs in Ethereum and holds the value of bitcoin)
• We click “Swap”

Note:this time we do not need to approve DAI since it is only done the first time

• Confirm the transaction to exchange 500 dollars into Wrapped Bitcoin:

• Here’s our Ether. Where’s our Wrapped Bitcoin?
• Click to add:

• Click Add Token

• search wbtc and click to add it

• Our Wrapped Bitcoins are now visible in Metamask Wallet

Note: Wrapped Bitcoin (WBTC) price suffers fluctuations based on DAI price and Bitcoin price. Hence, it is very likely that right after exchanging 500 dollars for wbtc we don’t see that exact same value reflected.

Next: Brrrrr Printing your dollars

Lock ether and bitcoin to print dollars!

References:

Setting up Metamask:

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