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*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Cryptoassets are highly volatile unregulated investment products. No EU investor protection.
How to buy
If you live in Egypt, the best way to buy Uniswap is, without any doubt, this popular broker.
eToro*, one of the main brokers around the world, is registered and licensed, among others, by the Cyprus Securities and Exchange Commission, and therefore complies with all the regulations of the European Union, the most demanding in the world.
We recommend eToro because you can create an account for free with this broker, and its fees for trading online are very low. Besides, eToro is available in your language, accepts users from Egypt, it is really easy to manage, and its friendly interface is ideal for those who are starting to trade with cryptocurrencies and stocks.
How to sign up, step by step
The first thing you need to do is click here and fill in the fields on the right: enter your name, email, and set a password.
Then check your email inbox: you have received an email from eToro, click on “Verify my email” and your account will be verified.
Once on eToro, you just have to click on “Deposit funds”, in the page menu.
There, you can choose how much money you want to add to your account (the minimum is $ 200) and the payment method:
As you can see in the image, the first deposit can be made by credit card, PayPal, or bank transfer.
If you have a choice, we do not recommend bank transfer because it takes longer, and it can be very frustrating to see the price of Uniswap rising while you wait for your transfer to be done.
How to make your first purchase
When eToro has confirmed the receipt of your credit, you just have to search for “Uniswap” in the search bar, click on “Invest” and choose the amount in dollars you want to invest.
*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Uniswap is the most widely used decentralized cryptocurrency exchange today and one of the largest exchanges by daily trading volume. Although it is actually a smart contract that is responsible for providing liquidity to the exchange market automatically.
It was created in 2018 by Hayden Adams inspired by some comments from Vitalik Buterin, the genius behind Ethereum. The Uniswap smart contract was designed to fulfill three basic functions: exchanging, sending and stacking cryptocurrencies.
And because it is a smart contract on the Ethereum network, it allows these operations to be performed with any ERC-20 cryptocurrency. ERC-20 are cryptocurrencies that work on the Ethereum platform, among them we can mention BinanceCoin, Tether, DAI stablecoin, among others.
How does Uniswap work?
How we already mentioned, it is a smart contract implemented on the Ethereum network so there are no people behind its daily operation. All the operation was set in advance in the main contract and after executed, it cannot be modified in any way.
In addition, Uniswap contains a smart contract for each cryptocurrency pair exchanged on the platform. That is, there is a contract to exchange Ethereum for Tether, another for DAI for BinanceCoin, and so on for each pair that can be exchanged.
Similarly, it has another contract for sending cryptocurrencies that allows you to exchange one token for another before it is sent to the destination address. So, if you have Ethereum in your wallet and you have to pay for something with Tether, you can send the Ethereum with Uniswap and the person will receive Tether. All with a small commission of 0.30% per transaction.
The most interesting thing is that Uniswap maintains the liquidity balance in the market automatically based only on a mathematical formula. Although it is the Uniswap users who participate in the stacking or pooling that actually provide the liquidity.
In the latter, users who stack or pool in Uniswap, deposit an amount of cryptocurrencies to the contract that maintains the liquidity of a certain pair and in return receive interest on the deposit made. Like a savings account, but with cryptocurrencies.
In this way, Uniswap fulfills its three established functions in a completely decentralized way, controlled only by smart contracts within the Ethereum network and in a completely transparent way, as there is no way to alter its operation.
eToro, our recommended option for purchasing Uniswap from Egypt?
- User-friendly and simple
- Allows to copy trading moves
- Allows you to go short
- Leverage is allowed
- There are lots of possibilities for investments
Official main site: www.etoro.com *
If you are interested in trading with Uniswap from Egypt, eToro is probably the best way to do it.
“Social trading”, an innovative investment method that consists in replicating techniques and strategies from other experienced investors, has become popular thanks to eToro.
eToro has solutions for you, especially if you are still a beginner in trading, since it puts your investment on autopilot by repeating strategies from other experienced people with a long profit history. Oppositely, if you are an investor and decide to share your knowledge with the community, eToro rewards you with money.
It is also very convenient how accessible is the platform, excellent for new traders who are starting with Uniswap.
How does eToro work?
We mentioned before that one of the best features of eToro is how simple it is. It isn't necessary to read a lot or have previous knowledge to start trading.
You won't have any problems with the interface if you are familiar with any other social network, like Instagram or Linkedin.
Let's talk about how to register and the different tabs you will find on the platform.
When you open your account, you will have to enter your personal data.
They will also ask you about your previous trade experience.
But don't worry: it is not an exam. It is only a way of finding out how much knowledge you have and what type of financial instruments they can recommend. For example, if you have never invested before, they will not recommend that you invest in futures.
Let's review the different tabs of the interface.
With the “Set Price Alerts” tool, you'll be able to program an alarm when an asset is at a certain price. Just click the tab and you will be able to set it. This is helpful if you want to purchase an asset and you are waiting for its price to fall.
In “News Feed”, users interact and share valuable information.
“Discover” includes the tabs “Instruments”, “People” and “CopyPortfolios”. And we discussed previously in this guide the different financial instruments on eToro:
- Exchange-Traded Funds
- Index funds
The term “social trading” comes to life within “People”: that is where you can copy the movements of the best investors with just one click.
Using the search bar, you can find the users that best suit your interests: by risk level, types of instruments, average earnings… Just indicate the amount you want to invest and eToro itself will be in charge of replicating the movements made by the investor you chose, in proportion. This means that if you have $ 1000 and the investor puts 10% in an asset, eToro will invest also 10% of your funds (in this case $ 100) in that same asset.
In this section you will also find the three main types of CopyPortfolios, which are Top Trader, Market, and Partner.
Remember that in some cases, you might prefer copying to CopyPortfolios than to particular traders, since you avoid putting all your eggs in one basket. There are all kinds of portfolios that you can identify easily and are divided by sectors. Therefore, if you think a specific sector, like biotechnology or pharmacy, will have good incomes in the future, you can find that specific portfolio and invest in it.
There are different methods or ways for crypto trading, like buying and holding or day trading, for naming just a few.
My suggestion for those who are starting to invest is something in the middle: when you open your Uniswap position, set a dynamic stop loss 15-20% below the maximum price, and let the magic happen.
For instance, if you purchase a cryptocurrency at $ 15, then it rises up to $ 25 and falls back to $17, the stop-loss will allow your operation to be closed, maybe at $ 21 or $ 22. Thus, you will get a pretty good income.
You may be wondering: why not selling when the price is at its peak? But that would only work for a psychic or a fortune-teller. The mentioned method is more down-to-earth and can work out perfectly.
Sooner or later, you will be ready for applying more advanced investment strategies, such as short-selling or using leverage.
Demo account: How does it work?
If you are beginning as an investor, you can start by practicing with a “demo” option. You just have to set the “virtual” option” in the upper left corner and you will be able to operate with an imaginary balance.
This option is great for those who are new to this world and want to give it a few tries before trading with real funds. When you create your account, you will start with $ 100,000 of virtual funds to do your operations, not only with Uniswap, but you can also create a diverse portfolio.
If your performance is not that good and you lose your funds, you can always ask eToro support to replenish $ 100k of virtual balance. You'll probably do better on the second try.
Take into account that trading is mainly about being cautious, however, using a demo account might have the opposite effect. It is not the same to trade with your own money than with virtual funds, which you can lose without any consequences.
Evidently, if you are interested in investing in the long or medium-term, there is no point in using the virtual mode and having to wait for years. On the other hand, it can be ideal if you want to practice short and medium-term trading.
Frequently asked questions
* Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.