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

By kelcrypto | Blockchain on Beyond | 9 May 2021


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.



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.

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