Planning to Buy Uniswap cryptocurrency? Well, digital assets investment is essential to greater success. We’ve made it easy with our complete guide on how to buy Uniswap (UNI) in the UK.
Uniswap is a decentralized exchange that provides investors a more secure and faster way of converting ERC-20 tokens to other projects on the Ethereum network. Its token, called UNI, is a governance token that allows investors to stake claims into future project developments in the network.
Uniswap (UNI) may not be very popular like Bitcoin (BTC) or Ethereum (ETH), the token has drawn increased interest over the past few months. The project backing UNI is an interesting one, and many investors are predicting a future rally in the price of the cryptocurrency. If you want to buy some UNI tokens and you’re not sure how to do it, you’re in the right place.
Follow the step-by-step guide below to buy, store and sell the Uniswap cryptocurrency in the USA.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY UNISWAP IN THE USA
- A Step-by-Step Guide to Buying Uniswap in the USA
- How to Sell Uniswap
- Things to Consider When Buying Uniswap in the USA
QUICK GUIDE: HOW TO BUY UNISWAP IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select UNI.
- Enter how many UNI coins you want to buy.
- Check the details and confirm your purchase.
A Step-by-Step Guide to Buying Uniswap in the USA
Step 1: Open an online Account
A cryptocurrency exchange is your best bet if you’re looking for a platform to buy and sell UNI. An exchange also called a crypto broker, allows you to own different types of cryptocurrency.
However, each exchange has its rules and requirements for registration. On a general note, you will be required to submit certain details to fulfill the exchange’s Know Your Customer (KYC) policies. The exchange will ask for your full name, email address, residential address, phone number, and current employment detail.
Once you’re provided these details, your account with the exchange will be provided in a short time.
Step 2: Deposit funds into the account
The next thing you need to do is to deposit funds into the account you’ve created with the exchange. Some exchanges do not accept fiat currency deposits, so you need to look for an exchange that will allow you to buy Uniswap with USD.
You will have different deposit options such as via PayPal, credit card, debit card, or through transfer. However, if you have been buying cryptocurrencies before and you already have a Bitcoin wallet, it will be easier to deposit Bitcoin instead.
Almost all exchanges accept BTC deposits, so you will not have any issue crediting your exchange account through your Bitcoin wallet. But if you’re paying with fiat currency, remember there are different fees for each of the payment methods you choose. Select the option that’s cheaper and more convenient for you.
Step 3: Buy Uniswap
Here is the main event. Buying a Uniswap token is easy when you follow the right process. After depositing funds to your exchange account, you have to decide how many UNI tokens you want to buy You can start by looking at the current market price of the coin.
Your broker’s platform allows you to place an order for the quantity of UNI you are looking to buy.
However, you need to specify the type of order you need to place, as brokers offer different buy orders on their platforms.
The most common is market order and limit order, which can be used in different circumstances.
The market order is usually executed almost immediately since it’s based on the current market price at the time the order is placed. On the other hand, the limit order is used by investors who are looking to enter the market when the price of UNI tokens has fallen. Here, you can ask the broker to execute the order when the price of UNI drops to a specific amount. The order is executed only when the price hits that level. Otherwise, it will remain open.
Whatever type of order you choose, a notification is usually sent to you when the order is executed or cancelled.
Step 4: Store your Uniswap in a wallet
After buying Uniswap, the next thing is to store the crypto asset in a wallet. You could decide to keep the token in your selected exchange, but for security purposes, a crypto wallet is better.
You can decide to get an online wallet or an offline one. If you’re not planning to trade with the UNI token regularly, there is no point in having an online wallet. You can get the offline wallet (hardware) and store your crypto asset.
How to Sell Uniswap in the USA
Whenever the time is right for you to sell the Uniswap token, the process is still simple. Go to the page where all Uniswap pairs are listed and select the pair you want to trade.
If you can’t find direct UNI/USD pair, you can always choose the UNI/BTC pair to trade. After getting the Bitcoin to your exchange account, you can then sell the Bitcoin for a fiat currency.
Read Also: Bitcoin Vs. Uniswap
Things to Consider When Buying Uniswap in the USA
There are several things you should consider before buying Uniswap tokens.
Understand that the market is very volatile
Uniswap is a cryptocurrency, and one common feature it shares with other crypto-assets is the extreme level of volatility. The market can swing in opposite direction within a short time, so it’s important to understand the level of volatility before stepping into the market.
Consider the future of the token
Before you invest in the token, you need to consider the project behind the crypto asset. That’s because it can have a meaningful impact on the price of the token. So, if you want to invest in UniSwap, research about the token and find out what plans the developers have for the asset.
Don't Miss: Uniswap Price Predictions
Cryptocurrency tax laws
Each state has its tax laws as it concerns cryptocurrency trading and investment. Find out how the tax laws affect your crypto investments and how much you are expected to pay for your income.
Availability of the Token
Unlike Bitcoin and Ethereum, Uniswap is not as widely available. This also affects its liquidity. This will be a problem if you are a day trader. But as a long-term investor who does not trade regularly, you won’t have issues getting your order filed.
The Uniswap token has gained popularity over the past months because of the growth in the crypto sector. The growth of the token is projected to be very high. Investors have also intensified their interests in the token as well.
If you’re looking for ways to buy UniSwap in the USA, the guide above offers a step-by-step process.
eToro – Top US Cryptocurrency Platform
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.