UNI Coin is the native cryptocurrency of the decentralized crypto exchange Uniswap. The launch of UNI has revived the slowing pace of the DeFi sector to levels seen in its earlier days, and there are several reasons for this. Immediately after the release of the Uniswap token, all users who had transacted on the Uniswap exchange before September 1 were gifted 400 UNI. With the value of UNI reaching up to $3 on the first day and rising to $8 in the following days, technically, Uniswap awarded users with a reward worth $3,200.
Many users sold their 400 UNI tokens at around $1,500, a significant amount under Turkish conditions. The surge in searches for terms like ‘What is UNI Coin?’ or ‘How to buy and sell UNI Coin?’ began after that day. To understand what UNI Coin is, one must first understand what Uniswap is. So, what exactly is Uniswap?
What is Uniswap Coin?
Uniswap can be defined as a decentralized cryptocurrency exchange. Anyone can open a contract address on the exchange and list a new cryptocurrency. This feature underscores the platform’s decentralization. Although this feature is used by many scammers, it’s a known fact that many new cryptocurrencies are listed here.
Unlike other cryptocurrency exchanges, there’s no freezing of tokens or smart contracts, and everything progresses in a decentralized manner. UNI Coin is known as both the governance and liquidity token of this network. Those wanting to earn Uniswap tokens can either provide liquidity to the exchange with different cryptocurrencies or directly buy UNI Coin from exchanges.
How to Use Uniswap?
To use the Uniswap cryptocurrency exchange, owning UNI Coin is not necessary. The first step is to create a cryptocurrency wallet like MetaMask or Coinbase Wallet. After creating a wallet, one must connect it to Uniswap’s official website. Subsequently, token trading can be conducted similar to traditional exchanges.
However, the method here is based directly on token exchange. For example, if you have the ETH cryptocurrency and want to exchange it for UNI Coin, the system converts it directly, bypassing the involvement of other cryptocurrencies, giving you as many UNI as your ETH is worth. There are no trading pair restrictions in the system, and all tokens on the exchange can be bought and sold with each other. Prices are calculated directly in ETH.
So, how do you buy and sell UNI Coin? UNI Coin can be easily purchased with high liquidity from the Binance cryptocurrency exchange.
Where to Buy Uniswap Coin?
UNI can be easily purchased from Binance by following a few steps:
- To buy UNI, first add USD balance to the exchange or purchase a cryptocurrency that can be used instead. To do this, first go to Binance‘s main page, click on the “Buy Crypto” option in the top left corner, and then the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to spend, and in the Coin section, choose Tether, i.e., USDT.
- After buying USDT, preview the “Buy-Sell” option again in the top left corner and click on the “Classic” tab.
- In the opened section, select the USDT tab in the top right corner, type UNI in the search button, and select the UNI/USDT pair that appears below.
- Then go to the middle “BUY UNI” tab, enter the amount you want to buy.
- Enter the amount you want and confirm the transaction to complete the UNI purchase.
