Dear reader, welcome to my first post on Publish0x please feel free to leave a comment, like or dislike (with some feedback ;).
Is it worth the risk and time to use Uniswap with a small amount?
Lets find out. But first of all:
What is Uniswap
Uniswap is a decentralized exchange / trading protocol built on Ethereum. It was one of the first DeFi apllication launched in November 2018.
For more information check the website: https://uniswap.org/faq
One year ago in sept 2020 there was a airdrop from Uniswap.Anyone who used the trading platform before September 1, received 400 UNI tokens for free. Uniswap quickly became better known among the wider public.A lot of people went crazy and I remeber a lot of them on reddit / forums sold everything to buy a new PS5. And at the time of typing this article those 400uniswap coins now trade for $5712,- in total!
Personally I mised the airdrop, but I bought 10.5 uniswap coins for $25,- and some ETH to give Uniswap a try. Now 400 day's later here are my findings / results. So you don't have to make the same mistakes as me. I started +/- 400days ago with a small ammount:
And a few days ago I thougt it was the right time to remove my funds of the liquidity pool:
After +/- 400 days later I earned 1,6599 UNI and 0,0066 WETH ($56,- in total).
The fees to remove the funds from Uniswap were:
0.0115ETH ; $44,- + 0.0055 ; $21 = -$65,- + $56,- = -$9,-
(minus the fees to get the funds on Uniswap).
Not a great return but the gains of ETH and UNI makes it worth the risk: PROFIT.
If you believe in the decentralized finance industry just start using Uniswap and make let your crypto grow using one of the liquidity pools.
My tips if you are planning to use Uniswap:
#1 Always use https://etherscan.io/gastracker before sending your funds or remove from liquidity pool. Patience will be rewarded big time. (HODL)
#2 Because of the high gass fees I would I recommend start using Uniswap with a crypto ammount above $200,-
#3 Spread your winning chances by using multiple providers / liquidity pools.
Thanks you Publish0x for all your information / airdrops and knowledge.
And to you who reading this enjoy your crypto adventure!