Buying ETH on a centralized exchange (CEX), withdrawing to MetaMask, and swapping for tokens on Uniswap:

Trading Tokens on Uniswap: A Beginner’s Guide

As a crypto beginner, decentralized exchanges like Uniswap open up a whole new world beyond Bitcoin. On Uniswap, you can instantly trade between hundreds of Ethereum-based tokens.

But getting started with decentralized trading can feel daunting. In this step-by-step guide, I’ll show you how to safely purchase ETH, move it to MetaMask, and make your first token swap on Uniswap.

Buying ETH on a Centralized Exchange

First we need to purchase some ETH. Centralized exchanges like Coinbase provide an easy fiat on-ramp to crypto.

To buy on Coinbase:

• Create an account and complete KYC verification
• - Deposit fiat funds via bank transfer or debit card
• - Use deposited funds to buy ETH

Withdrawing ETH to MetaMask

Now we want to move our ETH to a non-custodial wallet. This allows us to retain full control of our assets for decentralized trading.

On Coinbase:

• Go to your ETH wallet and click “Withdraw”
• - Enter the amount to withdraw. Double check the wallet address!
• - Confirm the transaction in your email
• - Wait for the ETH to arrive in your connected MetaMask wallet

Monitoring Gas Fees

Ethereum transaction fees (“gas fees”) fluctuate based on network demand. It’s cheapest to transact when gas is low.

• Check a gas tracker like Etherscan before swapping on Uniswap
• - Try to execute swaps during off-peak hours for lower fees

Finding Tokens to Trade on Uniswap

Uniswap supports trading any Ethereum-based token. Resources like www.DexSniffer.com let you browse tokens and their liquidity.

Dexsniffer.com is Dex Screener on Steroids

• Proprietary algorithm ranks trending tokens in real time — be early on spotting momentum
• Focus on identifying promising new launches first, not just top caps
• Configurable watchlists to track researched tokens in customized groups
• Anti-scam protections like easy duplicate checking by name/symbol
• Live professional audits on new tokens from GoPlus Security and Token Sniffer, that are sortable by overall score. Sort best contracts first or however you desire, www.dexsniffer.com was designed to give you more search feature on the things that matter most.
• All external resources (charts, Twitter, Telegram etc) embedded for one-stop access
• Intuitive interface design to easily access critical data and insights
• Developed by expert team with deep experience in crypto data analytics
• Completely free to use with no paywalls or subscription tiers

The key differentiators are the combination of proprietary algorithms surfacing fresh opportunities early, robust toolset tailored to research workflows, high quality audits

Approving Tokens in MetaMask

Before swapping tokens on Uniswap, you need to approve them for use in MetaMask.

• Open MetaMask, go to “Assets” and click the token you want to swap
• - Click “Approve” to grant Uniswap access
• - This approval is only needed once per token

Executing Your First Swap on Uniswap

Once your token is approved, it’s time to trade!

• Go to Uniswap and connect your MetaMask wallet
• - Select the token pair and enter the swap quantity
• - Double check details, then click “Swap” to complete the exchange

With that, you’ve successfully navigated CEXs and DEXs to purchase and trade crypto! Just be sure to take safety precautions and monitor for scams. Happy trading!

Authored by Dexsniffer.com