Step by step: Making a swap on DEX instruction
In this guide you will get a knowledge of how you can make swaps on decentralized exchanges (DEX).
Making a swap is exchanging one currency to another. You can make a swap eg. for exchanging USDT to ETH, ETH to MATIC etc.
There are many such decentralized exchanges and every of them has its own interface design, but using them is pretty similar.
During this guide we will make a swap from ETH to USDT (so we will sell ETH and get USDT).
Tutorial
1. To make a swap go to the DEX website. In our case you can open uniswap.org. Click “Launch App” button.
2. After you launch the page, you will see a website with one form on it. You will use the form to configure your swap parameters. You can get familiar with the page look, because many of the DEX applications looks that way.
3. To make a swap you have to connect your wallet to the website. Connecting the wallet gives it the possibility to read your wallet address and creates transactions, which then will be shown to you for a confirmation. There are many wallets providers you can use. All of them looks and works very similary. The most popular is MetaMask, which we will use.
4. After connecting the wallet you will be redirected to the swap site, which you have already seen. You can click on the currency selects to choose source (the first one) and destination currency (the second one).
5. You can fill the form. If you put a value if any of inputs, the app will automatically calculate the other value. For example if you put 0.05 ETH in the first input, it will be calculated to USDT value (in the second field). Check the values and if everything is ok, just click “Swap”.
6. You will see all important values for your swap. It’s rate and fee. You can read all of them and check again if the values are valid.
7. When you click on “Confirm Swap”, the DEX app will create a transaction and send it to your wallet. You may check the transaction parameters and confirm it by clicking “Confirm”.
8. After the confirmation you will see that the transaction is pending for the network confirmation. Blockchain network will check if your transaction is valid and if yes, it will make an actual exchange.
9. When you get your confirmations, you will get the notification. Now you have USDT in your wallet (or any other currency, you made the swap to).
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Damian Zachwieja
Damian Zachwieja
Harju maakond, Tallinn, Lasnamäe linnaosa, Tähesaju tee 9, 13917, Estonia.
Registry code: 16382854
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