The Low-Fee Way to Buy ARIA20 on Quickswap with Fiat (or Crypto)

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Arianee

5 min readMar 16, 2021

“Gas fees are too damn high!”. How many times have you heard this? DeFi is awesome, but gas fees on Ethereum are really high at the moment. It might cost you $50 to do a single trade on a Decentralized Exchange such as Uniswap!!

One solution to this problem is what is called “layer 2” blockchains (L2). L2 blockchains are meant to enable the same capabilities as Ethereum but at a lower cost because it is less congested. There are several L2 solutions available, so here are our criteria for choosing the best L2 solution for cheaper payments:

Bridge to enable the transfer of assets between the Mainnet and the L2 blockchain
A developed DeFi ecosystem
Sufficient decentralization

Keeping these three criteria in-mind, we chose to go with Matic (now Polygon):

It built a bridge compatible with ERC20, ERC721 and ERC1155
Quickswap is a fork of Uniswap with a good level of liquidity (~$110M as we speak)
Their consensus mechanism is sufficiently decentralized
Bonus points: Quickswap integrated Transak which enables you to buy crypto with a bank wire directly from the Quickswap interface!

Want to buy ARIA20 on QuickSwap without breaking the bank?! Here is how to do it:

Before you start…

Before being able to perform a trade on Uniswap you will need to install a wallet to interact with the ethereum blockchain. This wallet takes the form of a browser extension. There are several options available, but we recommend using metamask with Google Chrome or Firefox. You can download the extension directly from metamask.io. Be careful to download the extension directly from the Metamask website to be sure you are installing authentic software.

Then, you will need to create a wallet in Metamask.

If you prefer video here is a video version:

Step 1

First go to Quickswap.exchange.

Step 2

Then click on the “Switch to Matic” button in the upper right corner.

Step 3

A Metamask notification window will pop-up.

Check that the network information (Name, URL and Chain ID) match the screenshot, and if everything is in order click “Approve”.

Then click on “Switch network”

You are now connected to the Matic L2 Blockchain. Congratulations! You are now officially a multichain cryptonaut!

Step 4

In the next step you will buy Matic, the native cryptocurrency of the Matic blockchain. You can do this with a bank wire. If you already have crypto on the Ethereum network, you can also use the bridge to send your assets to Matic following the instructions here and jump to step 5.

Now that you are connected to the Matic blockchain, you should see a “Buy” button in the navigation bar.

When you click on “Buy”, a pop-up window will open and ask you how much cryptocurrency you want to buy. Choose to pay in your local currency (EUR, GBP or IND) and select MATIC as the cryptocurrency you wish to receive, then click “Buy Now”.

A window will pop up which should have your metamask address pre-filled with the order details of your purchase. Click Buy MATIC.

If this is the first time using the service, you will have to complete a KYC process which should take about 10 minutes. You will then have to wire the amount you decided to buy from your bank account to Transak’s bank account…and wait about 24h for the transaction to clear. Banks are slow…

Step 5

If you bought MATIC directly from QuickSwap, you should have received your MATIC in about 24h after sending in the wire (you will receive a confirmation email once the transaction clears). If you already had crypto, then you do not have to wait as long to join us on Step 5 where we will actually buy ARIA20!

You should now see your MATIC balance in the upper right corner.