The Uniswap is it a good and safe platform to do your business transaction

The Uniswap is it a good and safe platform to do your business transaction

By kelcrypto | Blockchain on Beyond | 9 May 2021


80dc199ba5729436bdec3b0e9ff6084f28bda730d68142d2ceec825387cc103b.png

Is the Uniswap platform a good place to do transactions?

For me as a first time user, my analysis is not, it's a platform where you can lose your assets without any recompense. Luckily for me I lost only a small amount.

So I lost $78 and it might not be a big deal to many, but in some parts of the world $78 is more than a month's salary.

Here the story, I saw a token that I believe I could only get through Uniswap. I connected my wallet, put in the amount I wanted, valued at $21 in Ethereum, but I could only get by paying a network fee of $57, I already knew that the network fee would be high, so I went for it. 

So I click through, make the transaction, return to my connected Coinbase wallet congratulation on a successful transaction. But where is the token I purchase through Uniswap. Waited but nothing came to my wallet, so I decided to check the Ethereum network through Etherscan only to see a message that transaction failed.

 

10a6cd29e809563a591c0bd2359527a1023ee0ca98d829028976cdcfbb1536aa.jpg

So then if the transaction failed, shouldn’t Uniswap refund my wallet. While I understand the loss of the network fee, the big question is, what about what I spent for the token that I have not received. The Uniswap platform did not even provide an indication to say that the transaction did not go through.

Checking around I found that many others had lost funds using the Uniswap platform. Hence the conclusion for me UNISWAP is not a good platform to do business.

How do you rate this article?


23

2


Blockchain on Beyond
Blockchain on Beyond

Blockchain growing influences and its impact on financial assets and technology

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.