Uniswap in One Paragraph
Uniswap is a decentralized exchange (DEX) protocol: a set of smart contracts that let anyone trade tokens on Ethereum and many other networks. It is non-custodial, which means you keep control of your private keys the whole time. There is no sign-up, no username and no password stored by Uniswap. Your wallet is your identity, and every trade is a transaction you approve yourself.
The protocol is developed by Uniswap Labs, which also builds the Web App and the Uniswap Wallet.
How Uniswap Works: AMMs and Liquidity Pools
No order book, just pools
A traditional exchange matches buyers and sellers through an order book. Uniswap does something different. It is an automated market maker (AMM). Every trading pair, such as ETH/USDC, lives in a liquidity pool: a smart contract holding reserves of both tokens.
When you swap, you trade against that pool. You put one token in and take the other out. A pricing formula adjusts the price based on the balance of the two reserves, so larger trades relative to the pool size move the price more.
Who supplies the tokens?
The tokens in each pool come from liquidity providers (LPs). These are ordinary users who deposit token pairs into a pool. In return, they earn a share of the trading fees paid by swappers in that pool. Providing liquidity carries risks, including impermanent loss.
Protocol versions
Several protocol versions are in use:
- v2 – simple pools where liquidity is spread across the entire price range.
- v3 – introduced concentrated liquidity, letting LPs choose a specific price range for their capital.
- v4 – launched in January 2025, adds hooks, small plug-in contracts that let pools run custom logic.
As a swapper, you usually don’t need to choose a version. The interface routes your trade through whichever pools give the best result.
Supported networks
Uniswap started on Ethereum, but today it runs on many networks, including Arbitrum, Base, Optimism, Polygon, BNB Chain, Avalanche and Unichain, Uniswap’s own layer 2 network. Each network has its own pools, its own tokens and its own gas fees, so make sure your wallet is on the right network before trading.
What is UNI?
UNI is Uniswap’s governance token. Holders can vote on, or delegate votes for, proposals that affect the protocol. You do not need UNI to trade on Uniswap. You only need the tokens you want to swap plus enough of the network’s native coin to pay gas.
Official Uniswap Addresses to Bookmark
Fake Uniswap sites are common, so learn the real domains before you do anything else:
Type these addresses yourself or save them as bookmarks. Do not trust sponsored search results, which scammers regularly buy. Check the address bar letter by letter: lookalike domains add hyphens or extra words (for example, something in the style of “uniswap-web.us.org”), use a different ending, or swap in characters from other alphabets that look almost identical.
Using Uniswap: Swaps, Liquidity and the Costs Involved
Swapping
A swap is the most common action. You choose the token you’re selling and the token you’re buying, enter an amount and confirm the transaction in your wallet. The Web App also offers limit orders and lets you explore tokens and pools before trading.
Providing liquidity
If you want to earn trading fees, you can open a liquidity position. You deposit two tokens into a pool and, on v3 or v4, pick a price range. Your position earns fees only while the market price sits inside your range.
What you pay
Several costs can apply to a single trade:
- Liquidity provider fee – set per pool, with common tiers such as 0.01%, 0.05%, 0.3% and 1%. This goes to LPs.
- Network gas fee – paid to the blockchain, not to Uniswap. It varies by network and by how busy the network is.
- Interface fee – a possible fee charged by the app on some trades. If it applies, it is shown before you confirm.
The exact amounts are always shown on the review screen before you confirm.
Slippage and price impact
Price impact is how much your own trade moves the pool’s price. It grows when your trade is large compared with the pool.
Slippage tolerance is the maximum price change you accept between submitting the trade and having it executed. If the price moves beyond that limit, the transaction fails instead of filling at a worse rate. A very high slippage setting can expose you to bad fills, so only raise it if you understand why.
Token approvals
Before Uniswap can move an ERC-20 token from your wallet, you must give permission. This happens either through an approval transaction or a signed permit. You typically do this once per token. Many wallets let you set a limited approval amount rather than unlimited access, which reduces risk if a contract is ever compromised. Selling a network’s native coin, such as ETH on Ethereum, usually doesn’t need an approval.
How to Swap on Uniswap: Step by Step
In this example, we swap ETH for USDC on Ethereum using the Web App and a browser wallet.
Open the real site
Type app.uniswap.org into your browser or use your saved bookmark. Confirm the padlock and the exact spelling of the domain.
Connect your wallet
Click “Connect” and choose your wallet, for example MetaMask, Coinbase Wallet, Uniswap Wallet or another option via WalletConnect. Approve the connection inside your wallet.
Select the network
Make sure Ethereum is selected in both the app and your wallet.
Choose your tokens
Set ETH as the token to sell and USDC as the token to buy. If you search for a token, check its contract address against a trusted source. Fake tokens often copy popular tickers.
Enter the amount
Type how much ETH you want to swap. Keep some ETH aside for gas.
Review the details
Check the quoted rate, price impact, LP fee, network cost, any interface fee and your slippage setting.
Approve if needed
When selling an ERC-20 token for the first time, you will be asked to approve it or sign a permit. Consider a limited approval.
Confirm the swap
Click “Swap”, then read the request in your wallet and confirm it there.
Track the result
Watch the transaction status in the app’s activity view or in your wallet. Once it is confirmed, the USDC appears in your balance.
Core safety rule: at no point in this process will you be asked for your recovery phrase. Never type your recovery phrase or seed phrase into any website, app form, chat or “support” request. Anyone who asks for it is trying to steal your funds.
Uniswap Web App vs Uniswap Wallet
Uniswap Labs offers two main products, and beginners often mix them up. Here is how they compare.
| Feature | Uniswap Web App | Uniswap Wallet |
|---|---|---|
| What it is | Browser interface for the Uniswap protocol | Self-custody wallet with built-in swaps |
| Where to get it | app.uniswap.org |
iOS App Store, Google Play, Chrome Web Store (extension) |
| Platforms | Any modern browser, desktop or mobile | iOS, Android, Chrome extension |
| Holds your keys | No, you connect a separate wallet | Yes, protected by a 12-word recovery phrase |
| Works with other wallets | MetaMask, Coinbase Wallet, WalletConnect, hardware wallets via these | Connects to dApps via WalletConnect |
| Main features | Swaps, limit orders, liquidity positions, token and pool explorer, card purchases via partners | Storing tokens, multi-chain balances, swaps, optional encrypted cloud backup |
| Best for | Advanced trading and managing liquidity | Everyday holding and quick swaps |
What each one is
The Web App is the website where you interact with the protocol. It never holds your funds; it simply builds transactions that your connected wallet signs.
The Uniswap Wallet is a wallet. It creates and stores your keys on your device, shows your balances across networks and includes its own swap feature. It comes as a mobile app (“Uniswap: Crypto & NFT Wallet” on the App Store and also on Google Play) and as the Uniswap Extension for Chrome, published under “Universal Navigation Inc”, which is Uniswap Labs’ legal name.
Which should you choose?
If you already have a wallet such as MetaMask or a hardware wallet, start with the Web App. If you don’t have a wallet yet and mainly want to hold and swap tokens on your phone, the Uniswap Wallet is a straightforward choice.
Using both together
The two work well side by side. You can keep funds in the Uniswap Wallet and connect it to app.uniswap.org when you want features such as liquidity positions. Just remember that the wallet’s 12-word recovery phrase belongs on paper, offline, and nowhere else.
Safe Uniswap Download Guide
Need to access the genuine web exchange, get the official mobile app or verify the genuine Chrome extension? Follow our security verification checklist to avoid phishing clones and drainers.
Safe Uniswap Download Guide Verified domains: uniswap.org • app.uniswap.orgFrequently Asked Questions
Is Uniswap safe to use?
The protocol’s smart contracts are public and widely used, but safety mostly depends on your own habits. Most losses come from fake websites, malicious approvals and fake tokens rather than from the protocol itself. Use the official domains, read every transaction before signing and never share your recovery phrase.
Do I need to create an account on Uniswap?
No. Uniswap has no accounts, emails or passwords. You simply connect a self-custody wallet, and that wallet signs your transactions. If a site asks you to register or “validate” your wallet, leave it.
What is the UNI token used for?
UNI is used for governance. Holders can vote on proposals or delegate their voting power to others. It is not required for trading, and you should be wary of any page promising free UNI.
Why did my swap fail?
Usually the price moved beyond your slippage tolerance or you lacked native coin for gas. Refresh the quote and try again; failed transactions can still use gas.
What is the difference between Uniswap v3 and v4?
v3 introduced concentrated liquidity, letting LPs choose price ranges. v4, launched in January 2025, keeps that idea and adds hooks, which let developers attach custom logic to pools. For ordinary swaps, the app handles routing for you.
Can I use a hardware wallet with Uniswap?
Yes. You can connect a hardware wallet to app.uniswap.org through a supported wallet such as MetaMask. Each transaction is then confirmed on the device screen, which adds a strong layer of protection.
How do I contact Uniswap support?
Use the help center at support.uniswap.org or email [email protected]. Uniswap Labs never sends direct messages first and never asks for your recovery phrase, so treat any unsolicited “support agent” on Telegram, WhatsApp or Discord as a scammer.