No Regulation

Score

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/10

Uniswap V1

United States

|

5-10 years

Suspicious Regulatory License|

Medium potential risk

https://v1.uniswap.exchange/swap

Website

Rating Index
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Uniswap V1
https://v1.uniswap.exchange/swap
The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
E

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

WikiBit Risk Alerts

2
Previous Detection 2024-07-21

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

The number of the negative comments received by WikiBit have reached 5 for this Exchange in the past 3 months, please be aware of the risk!

Website

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Time Machine

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New Arrival

Company Name
Uniswap V1
Regulatory Status
No Regulation
Company Abbreviation
Uniswap V1
Platform registered country and region
United States
Phone of the company
--

User Reviews

More

9 ratings

Participate in evaluation
jazziejai
i was having a hard time trading here.
2023-08-31 15:44
7
jazziejai
i was having a hard time trading here
2023-08-31 15:42
8
FX1427367561
Overall, Uniswap V1 is not promising. When withdrawing, it is slow! The trading fees are also quite high, which feels very disadvantageous.
2024-03-22 03:56
2
nadaalesha
very hard to deposit
2023-09-04 12:30
8
Diana2858
Decentralized exchanges like Uniswap can still be easy to use. Depending on what you need to do, they might be easier to use than centralized exchanges like Coinbase, Gemini, and others. As an added benefit, you can keep your crypto in your own wallet rather than trust a centralized exchange.
2023-08-22 12:47
7
Kênh video đào BTC free
Here is the link when i do the aidrop: https://unifswap.com/?dre=2D7A1
2021-11-30 19:15
0
BIT2553998712
Its name and address were fake. My investment was stolen by them. Unable to withdraw. Beware.
2021-09-11 22:19
0
FX7689739916
He led users to buy 0.1 or 0.3 ETH on major exchanges through various wallets such as imtoken and send them to the designated contract mining pool address. Then the wallet received uniswsp fake tokens of 1:126. They pretended to be customer service and said you could sell them to make profits. They cheated freshmen in the blockchain industry. Beware.
2021-08-10 23:20
0
零撸党
It’s said that they got the original data and the data will be used in a new app. This app will be on the line on May 15. At that time, you can know the rules they set!
2021-05-11 04:01
0
Exchange Name Uniswap V1
Founded Year 2018
Regulatory Authority Unregulated
Cryptocurrencies Available 100
Fees 0.3% trading fees
Payment method Ethereum web wallet
Customer support Social media like twitter

Overview of Uniswap V1

Uniswap is a decentralized non-custodial exchange and automated market maker (AMM) operating on Ethereum's blockchain. Established by Hayden Adams in 2018, with its headquarters in the United States, Uniswap currently offers a comprehensive array of over 2,300 distinct token pairs, solidifying its status as a high-volume decentralized exchange (DEX).

Uniswap enables effortless ERC-20 token exchanges via direct Ethereum wallet connections, bypassing intermediaries. The governance token UNI empowers the ecosystem and stimulates community participation in vital decisions.

However, it is significant to note that it is not regulated and traders need to be vigilant.

Overview of Uniswap V1

Pros and Cons

Pros Cons
Completely decentralized High gas fees for transactions and withdrawals
High liquidity Limited to tokens built on Ethereum, excluding non-Ethereum tokens
User-friendly setup with no KYC requirements Swapping interface lacks real-time charts
Opportunity to earn rewards
UNI token holders can participate in protocol initiatives

Pros:

  • Complete Decentralization: Uniswap operates on a decentralized model, allowing global participation without geographical restrictions. This aligns with the fundamental principle of blockchain technology, offering inclusivity and accessibility to anyone with an internet connection.

  • High Liquidity and Wide Token Selection: Uniswap boasts substantial liquidity, which ensures that trades can be executed swiftly without causing significant price fluctuations. Moreover, with a wide array of token pairs available for trading, users have ample choices to engage in diversified trading strategies.

  • User-Friendly Setup: Uniswap's user-friendly interface enables users to start trading within minutes, without the need for time-consuming Know Your Customer (KYC) verification processes. This quick onboarding experience appeals to both beginners and experienced traders seeking swift access to decentralized trading.

  • Liquidity Rewards: By providing liquidity to Uniswap's pools, users can earn rewards in the form of trading fees and, in some cases, governance tokens. This incentivizes users to contribute to the liquidity ecosystem, fostering a dynamic and self-sustaining trading environment.

  • Governance Participation: Holders of UNI tokens, Uniswap's native governance tokens, can actively participate in shaping the protocol's future. This democratic governance structure enables users to vote on initiatives, upgrades, and improvements.

  • Cons:

    • High Gas Fees: Due to the Ethereum network's congestion, Uniswap transactions often incur high gas fees. This expense can make frequent trading and withdrawals costly, impacting users' overall trading experience. It's important to note that this issue is not unique to Uniswap but affects many Ethereum-based decentralized exchanges (DEXes).

    • Limited Token Scope: Uniswap exclusively supports tokens built on the Ethereum blockchain. This limitation means that users can only trade Ethereum-based tokens and cannot directly access tokens from other blockchains.

    • Trading Interface Limitations: Uniswap's trading interface lacks certain advanced features, such as real-time charts and the ability to place limit orders. While it excels in user-friendliness, traders seeking sophisticated trading tools might find the platform's interface less suitable for their needs.

    • Pros and Cons

      Regulatory Authority

      While the exchange offers various trading services, it's important to note that it does not currently fall under the supervision or regulation of any recognized financial authority. Consequently, traders should exercise caution and be aware of the potential risks associated with trading on an unregulated platform.

      Unregulated exchanges may lack certain consumer protections and mechanisms typically provided by regulated platforms. It's recommended that traders thoroughly research and consider their options before engaging with Uniswap V1 or any other unregulated exchange.

      Security

      Uniswap v1 underwent a security audit conducted by a team of six skilled engineers. This audit focused on comprehensively reviewing and verifying the smart contract components to ensure robust security measures were implemented. A detailed audit report is available on Uniswap's official website, offering transparent insights into the process.

      Additionally, Uniswap maintains an ongoing bug bounty program. This initiative encourages active participation from the community, inviting members to test and debug the smart contracts. This collaborative effort effectively minimizes the potential for user-related issues while utilizing the platform.

      The Uniswap network benefits from regular monitoring and assessments to ensure its seamless operation. The active involvement of the community further bolsters the network's stability by addressing any necessary interventions collaboratively.

      Cryptocurrencies Available

      Uniswap is a decentralized exchange located in the United States that operates globally. It offers open access to anyone with an internet connection and an Ethereum wallet. Uniswap supports over 2,300 token pairs on the Ethereum blockchain, reflecting its commitment to inclusivity and decentralization.

      While it exclusively supports Ethereum-based tokens, users can bridge tokens to other chains for wider options. Uniswap exemplifies the essence of cryptocurrencies as a borderless and decentralized trading platform.

      Cryptocurrencies Available

      Trading Fees

      When engaging in token swaps on Uniswap, a liquidity provider fee of 0.3% is incurred. Additionally, each trade requires payment of gas fees. Although Uniswap doesn't directly impose these gas fees, they play a significant role in transaction costs and should be carefully considered. While Uniswap currently doesn't have protocol or protocol charge calculation fees, it's important to stay informed about potential changes that might be introduced in the future.

      Type Fee
      Liquidity Provider Fee (0.3%) A fee of 0.3% is charged for token swaps by liquidity providers.
      Miner's Fee for Each Trade (Gas Fee) Each trade incurs a certain amount in gas fees; while not directly charged by Uniswap, it's important to consider for transaction costs.
      Protocol or Protocol Charge Calculation Fee (None Yet) Currently, Uniswap does not have protocol or charge calculation fees, though these might be introduced in the future.

      Payment Methods

      To withdraw any digital token from the Uniswap platform, users are required to pay gas fees. As transactions are initiated and processed through an Ethereum web wallet, the specific amount of gas fees can vary based on the prevailing cost of gas on a given day and time. It's essential to be mindful of these gas fees when planning withdrawals.

      Payment Methods

      How to use Uniswap Exchange?

      Uniswap operates as a decentralized protocol, eliminating the need for traditional account sign-ups due to the absence of formal accounts. Commencing your journey with the Uniswap exchange is straightforward. The essential requirement is a web wallet to interface with the protocol for trading purposes. Among the highly recommended web wallets for optimal Uniswap engagement are:

      • MetaMask

      • Coinbase Wallet

      • WalletConnect

      • Fortmatic

      • Portis

      These web wallets enable interaction with Uniswap's decentralized ecosystem, ensuring a user-friendly and efficient trading experience.

      How to use Uniswap Exchange

      Once you possess a web wallet, proceed to the Uniswap interface and locate the “Connect to a wallet” option in the upper right corner. Upon clicking, you'll be guided to unlock your wallet by entering your password. Following this simple step, you'll be seamlessly connected to the Uniswap exchange, ready to initiate trading activities.

      Exchange Comparison

      Exchange
      Exchange Comparison
      Exchange Comparison
      Exchange Comparison
      Fees 0.3% 0.2% 0% - 3.99%
      Cryptos Available 100 700+ 200+
      Website https://v1.uniswap.exchange/swap huobi.com coinbase.com

      FAQs

      Q1: What are liquidity pools, and how do they work?

      A1: Liquidity pools are smart contracts that contain pairs of tokens. By providing tokens to a pool, you earn a share of the trading fees.

      Q2: What are the risks associated with using Uniswap?

      A2: While Uniswap offers decentralized trading, it's essential to consider the volatility of the cryptocurrency market.

      Q3: What fees are associated with Uniswap trades?

      A3: Uniswap charges a 0.3% fee on each trade, which goes to liquidity providers. Additionally, users need to pay gas fees for transactions on the Ethereum network.

      Q4: How is privacy maintained on Uniswap?

      A4: Uniswap transactions are recorded on the public Ethereum blockchain, offering transparency.

      Q5: Can I earn rewards on Uniswap?

      A5: Yes, by providing liquidity to pools, users can earn a share of the trading fees collected. Additionally, governance token holders (UNI) can participate in decision-making and potentially earn rewards.

      Q6: What tokens can I trade on Uniswap?

      A6: Uniswap supports a wide range of ERC-20 tokens built on the Ethereum blockchain.

      User Review

      CryptoExplorer99:

      “Uniswap rocks! Their decentralized approach puts security in my hands. No need to worry about hacks. Interface is clean and minimalistic – easy for newbies. Liquidity is great for major tokens, but smaller ones can be thin. Love the range of cryptocurrencies. Customer support is lacking though – slow response times. Trading fees are reasonable, and the privacy focus is appreciated. Deposit and withdrawal speeds depend on Ethereum network congestion. Uniswap's innovative approach to swapping makes it a stable player in my portfolio!”

      TokenTrailblazer:

      “Uniswap's decentralized vibe feels secure; no central hacks! Interface is simple and effective, but could use more advanced tools. Major tokens boast good liquidity, but smaller ones can be hit or miss. Their cryptocurrency variety is a plus. Customer support needs a boost – response times drag. Trading fees are fair, and privacy is respected. Deposit and withdrawal speed depends on Ethereum's pace. Uniswap's automated market maker model offers diverse trading options, and it's remained fairly stable. An excellent gateway to the DeFi world!”