So I have seen a lot of buzz about early adoption of defi tokens and Uniswap plays so I decided to try it out.
To use Uniswap, I learned that you have to buy Ethereum then send it to Uniswap and you can trade for lots of tokens there that are listed or manually entered.
I decided to try out a token called Unistake based on some of the social buzz I saw and the fact that its project hasn't fully launched and it isn't listed on major exchanges yet. Seems like a YOLO play, why not.
You can check out the project here: https://unistake.com/
At the time of this post it looks like I already made some gains! https://coinmarketcap.com/currencies/unistake/
To use Uniswap, I added it as a dApp in my Coinbase Wallet on my iPhone. I think you could also do it on MetaMask on PC but I haven't explored that route. I then added Unistake as a custom token with help of the Unistake support staff on Telegram: https://t.me/Unistake
After that I transferred about $200 of Ethereum to Coinbase wallet which cost $4 in miner fees. Then I swapped the balance for Unistake. This cost $23 in miner fees. After about 3 minutes I could see my Unistake balance in Coinbase Wallet! Not super easy for beginners but I think this barrier to entry gives these early coins so much upside potential. My big complaint was the huge Ethereum gas fees for miners. This $200 investment cost me aboutr $27 total. BIG fees. Now I am going to sit on it for a year or so and hope for a 100x.
If you have any questions about my experience, happy to walk you through on my Telegram channel comments!