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Bitbuy | Uniswap
The decentralized finance industry (DeFi) has captured the financial sector's hearts, minds, and wallets, leading to enormous investment in this sphere. As a result, the cryptocurrency industry has manufactured plenty of DeFi tokens, including one of today's most prominent virtual currencies: Uniswap, or UNI. So, what is it, and how will it advance DeFi?
Uniswap: A Primer
In November 2018, Ethereum developer Hayden Adams launched Uniswap, putting forward an ambitious goal of bringing automated market markets (AMMs) within the Ethereum ecosystem to a broader audience – a blend of limiting risk and reducing costs for all the parties involved. Or, put simply, the brainchild of Uniswap was meant to support automated trading of DeFi tokens.
Two years later, Uniswap launched a governance token called UNI, which was distributed to previous users by establishing profitability and a mechanism to shape its future.
Uniswap is about ensuring that token trading remains automated. The digital currency’s other imperative goal is keeping automated token trading open to anyone who owns tokens and trying to enhance its efficiency compared to conventional exchanges.
But how does it do this? The key aim is to produce more efficiency by resolving any liquidity problems with automated answers. This, according to industry observers, avoids the ubiquitous issues that clouded the first decentralized exchanges. Moreover, with massive crackdowns on the crypto industry worldwide, Uniswap is also celebrated as a decentralized exchange token that can skirt bans and restrictions instituted by governments and central banks—effectively giving power back to the people.
Since then, Uniswap and its token, UNI, have exploded in popularity. Because of the vast interest in the DeFi developments, this has led to a substantial increase in DeFi tokens. Uniswap, which maintains a total supply of one billion coins, is now one of the largest cryptocurrencies in the world.
How to Buy and Sell Uniswap on Bitbuy
If you are interested inbuying, selling, and trading Uniswap, you can always get started on Bitbuy; we promise, you’ll be surprised by how quick and easy it is! Here is a step-by-step breakdown of how to begin your cryptocurrency journey on our intuitive platform:
- Open an account on Bitbuy.ca by providing your email address and telephone number, and verifying your identity.
- After the Bitbuy team has confirmed your identity, you can deposit as little as $100 into your account via Interac E-Transfer or a bank wire.
- Once the funds have been verified and added to your Bitbuy crypto wallet, you can proceed to purchase and sell portions of digital currencies from our ever-growing list.
Uniswap is About Improving the System
Suffice it to say, Uniswap is about improving upon the terrific software and technologies presently available in both DeFi and cryptocurrency. Despite the innovation in this realm, there is always room for improvement, and the developers behind Uniswap are seeking to lead the way by fine-tuning this innovative system. Do you want to be a part of the DeFi movement? Get your tokens today!