I added a custom token and it is based on the Ethereum. When I clicked on the “Market” tab on the https://coinmarketcap.com/ website, it just has two Source.
When the token is based on the Ethereum, then I must buy Ethereum or Tether (ERC20) and swap it to that token?
Hello, you can use this guide as a guide:
What is UniSwap?
Uniswap is an Ethereum-based protocol designed to facilitate digital asset exchange between ETH and ERC20 tokens. Uniswap is completely on-chain, and individuals can make use of the protocol via the
DApp browser in Trust Wallet on Android.
Learn more about Uniswap: https://uniswap.org
How To Use UniSwap With Trust Wallet
[How to use Uniswap with Trust Wallet]
Open the DApp browser and either tap on UniSwap Exchange or put https://uniswap.org in the address b…
Thank you so much for your reply.
Why not the Swap option in the Trust Wallet?
If I want to use the UniSwap, then I must have some Ethereum in my Trust Wallet?
If the trading pair of that token is supported in the DEX tab in your Trust app, then you can use that.
Also note that swapping ERC20 tokens in your wallet or through a dApp would still require ETH as gas fees.
If you want to but an Ethereum based token, then how do you do that? Buying enough Ethereum for the gas fee and that token, then Swap?
Yes you would need to have the amount of tokens you want to swap in ETH and also have some as gas fees.
What is the benefit of using Uniswap? Why Uniswap and not Swap option or vice versa?
You can always use the swap option, Uniswap recommendation would only be for tokens that do not have a trading pair in the Trust wallet DEX tab.
Thank you again.
Both options (Swap option and Uniswap) have the same cost?
The app does not charge a fee but there is a network fee that will be paid to the miners.
Once you try and send an amount, it automatically calculates the fees.
Learn more here:
This article explains what network fees are and how they work.
Trust Wallet is a fully decentralized app and follows the rules of the networks it connects to. No funds are kept in the wallet and no fees are collected by the app.
What are Network Fees?
Every time you send any cryptocurrency, from your address to another, you incur a Network Transaction fee, also referred to as a Network fee. Making trades on exchanges also require fees for every buy or sell transaction.
The actual fee you p…
So, both are same.
Why someone prefers the Uniswap over the Swap option?