How to buy Uniswap (UNI) in Australia?
- 1. Get an Ethereum wallet
- Since Uniswap is an ERC20 token you need an Ethereum wallet to purchase it.
- This is where you will store your purchased cryptocurrency. You can get a free online wallet or a hardware wallet.
- Elbaite does not hold your cryptocurrency in their own centralised wallet. Elbaite believes, your cryptocurrency is only yours if it is in your wallet.
- 2. Find an offer from a trusted seller
- Find an offer on a peer to peer exchange at a price and amount you would like to buy.
- Elbaite is a peer to peer exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.
- 3. Pay for your purchase
- Pay the agreed amount using your bank account.
- On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Uniswap in your wallet. The seller will never know your banking details, keeping your data private.
What is Uniswap?
The Uniswap Protocol (Uniswap) is a trustless, and completely decentralised financial framework. Uniswap is a decentralised exchange hosted on the Ethereum blockchain, as an open source front end. It’s a 100% on-chain market maker allowing the swapping of ERC20 tokens with Ethereum and with the launch of Uniswap V2; ERC20 to ERC20 swaps.
It also allows you to contribute to liquidity pools, and gain commissions from exchange fees as an incentive. Uniswap has experienced exponential growth in the 2nd quarter of 2020 with the emergence of the DeFi industry.
The introduction of the UNI (ERC-20) token serves as the governance token which was distributed to the public enabling shared ownership which will guide the protocol.