The Best Wallet for Uniswap (UNI)

What is Uniswap?

Uniswap is a popular open-source decentralized exchange (DEX) based on the Ethereum protocol. In other words, it is a fully automated liquidity platform that does not require intermediaries to settle transactions. To facilitate trading, DEX includes liquidity pools created by liquidity providers. Thus, users on the Uniswap exchange can easily convert their ERC-20 tokens without the need for centralized management or confirmation.

UNI is a proprietary token (cryptocurrency) used on the Uniswap network. Anyone with a UNI token automatically gets a say in the community when making key decisions about the platform. Simply put, UNI coin holders can vote, and their vote will be counted for any changes to the network.

At the time of its creation, the token emission has been 1,000,000,000 UNI. 40% is reserved for the team and investors of the platform. The remaining 60% is distributed to all community members. 

How do Uniswap Wallets work?

Uniswap (UNI) is an ERC-20 token that runs on the Ethereum blockchain and can be stored in any wallet that supports this standard. It uses the power of this network to make transactions and uses ETH addresses and wallets in its work, but also has its own name, some technical features, issues, and value.     

Top 5 Uniswap Wallets

UNI token belongs to the Uniswap exchange, and it has even entered the top 20 most capitalized cryptocurrencies. Against this background, there are a lot of people who want to buy such a promising asset and think about where to store it. 

Please see below the Top 5 Uniswap Wallets. 

Ledger Nano S

Ledger Wallet is a set of products designed for cryptocurrency trading and storage. The complex includes a multiplatform exchange application Ledger Live and two hardware wallets, i.e. Ledger Nano X and Ledger Nano S. 

Ledger Nano S is number one the best crypto wallet for Uniswap. It is a hardware, or “cold” cryptocurrency UNI wallet. It is capable of supporting a large list of currencies, including UNI. The device has an internal chip that stores your individual key in an isolated environment. Ledger Nano S is also interesting because it allows you to store different cryptocurrencies on one device simultaneously.

Ledger Nano S wallet`s pros 

• Miniature, lightweight, similar in appearance to a USB; 
• High standard of encryption security; 
• Isolated storage of private keys in the device memory;
• Presence of two-factor authentication; 
• Full recovery of access if a device is lost/stolen;
• Supports a large number of crypto-assets;
• Ledger Live is simple and convenient software. 

Cons

• Loss of passphrase card means loss of all funds;
• Lack of the manual in other languages besides English.

The price of the Ledger Nano S Wallet is around $59-$79.

Trezor

TREZOR Wallet is a physical hardware wallet for more than 1000 cryptocurrencies from Bitcoin, and Uniswap to little-known altcoins with a cryptocurrency exchange function. The wallet is cross-platform, it can be synchronized with a PC or a smartphone. Special software is pre-installed on the device. It is possible to trade on the crypto exchange and make transfers from the wallet itself. 

Despite the fact that the TREZOR wallet is an offline storage device, it is quite handy for performing various tasks, both online and offline.

A distinctive feature of this variety of wallets is their compact size, identical to the size of a car key, allowing you to attach the device to a bunch of keys as a keychain, which provides an opportunity to use it at any time. 

Pros

• The simple registration, intuitive interface;
• The ability to trade virtually all cryptocurrencies;
• The funds are in autonomous hardware storage;
• An absolute level of digital security;
• Many features for developers and businesses;
• A five-star support service;

Cons

• The crypto exchange cannot be used without a hardware wallet;
• The technical support is only in English;
• There is no mobile app;
• It is impossible to deposit/withdraw from/to debit cards.

The cost of the model Trezor One is around $ 80, the model Trezor T costs more than $ 200.

Metamask

MetaMask is a decentralized cryptocurrency wallet for storing, transferring, and receiving ERC-20 tokens. MetaMask is a non-custodial wallet, i.e. private keys, passwords, and addresses are not shared with developers or third parties. A user has full control over his/her funds, the encryption takes place in the application.

The MetaMask extension works in Chrome, Firefox, Edge, and Brave browsers. It is recently possible to install the mobile application MetaMask on iOS or Android.

MetaMask is a free web and mobile crypto wallet that allows users to store and swap cryptocurrencies, interact with the Ethereum blockchain ecosystem, and host a growing array of decentralized applications (dApps).                                                        

MetaMask is considered the best desktop wallet for Uniswap with no limits and no fees on the wallet`s side. The topmost deposit amount and the lowest withdrawal amount are not set. The commission depends on the selected network and the user’s preferences in the priority of the transaction. The wallet has a user-friendly interface, it is easy to use and safe for storing funds (within the mobile wallet).

Pros 

• The user’s keys are stored on his device, making them inaccessible to hackers.
• Intuitive user`s interface.
• Support for all tokens located on the Ethereum blockchain.
• Integration of payment systems to buy cryptocurrency from a card.
• Connection of Trezor and Ledger hardware wallets.
• The wallet is hierarchically deterministic, allowing a customer to back up the account.
• An open-source code.
• A mobile application.
• The responsive tech support, knowledge base, and blog.

Cons 

• Similar to any online wallet, it is subject to the risk of interference from the outside.
• Many fraudulent schemes with imitation popups from Metamask.

ImToken

imToken is the best mobile wallet for Uniswap supporting a huge number of coins and tokens on 12 blockchains. It works with all popular stablecoins and allows earning passive income from staking, connecting to decentralized applications via a built-in browser, and exchanging cryptocurrency. There is an option to protect your login with a graphical key.

Pros 

• Multiple cryptocurrencies and blockchains.
• Graphical key and fingerprint support for security.
• The address book.
• Adjustment of the commission when transferring.
• The cryptocurrency exchange in the application.
• The decentralized application browser.

Cons 

• It is available only in mobile format.
• It is impossible to make purchases from a card.

Downloading and installing the ImToken crypto wallet is free. However, you will be charged Ethereum blockchain network fees every time you send crypto from the wallet app to another wallet or third-party exchange. 

Binance Wallet

The Binance Chain Wallet is a browser extension from the Binance exchange. The wallet supports such networks as Binance Chain, Binance Smart Chain, and Ethereum. Thanks to the Wallet Direct feature, the wallet allows you to quickly interact with many different projects on these networks or use the wallet to purchase, exchange, and store cryptocurrency, as well as for settlement. Binance Wallet offers its users to work on different platforms, including Web versions, mobile applications, and cold storage.

The Binance exchange acquired Trust Wallet in July 2018, and since then, the wallet’s capabilities have expanded to store 80+ cryptocurrencies and dApps. In addition to storing all ERC20 and ERC721 tokens, Trust also supports 14 blockchains.

 Pros

• It has a simple and user-friendly interface, which makes it suitable for beginners;
• It supports more than 80 cryptocurrencies;
• The cold storage feature provides reliable security;
• A non-custodial nature of the wallet gives users full control over their assets;
• It is possible to link it to your Binance account.

Cons

• The new generation of wallets has bugs.

Trading in the Binance wallet is not free but has surprisingly low transaction fees. Binance wallet spot trading fees are 0.1% and 4.5% for debit card purchases. The best part is that you get a 25% discount if you already have BNB tokens in your wallet.

FAQ

Is Uniswap a decentralized exchange?

There are many centralized exchanges that act as intermediaries for users to buy, sell and trade cryptocurrencies. This is a traditional method of trading that does not give users full control over their assets. This means that centralized exchanges hold users’ funds and assets on their behalf, acting as a bridge between a customer and the market.

Uniswap exchange requires no intermediaries, and all users can control and manage their funds and assets at their own discretion. This is the key difference between centralized and decentralized exchanges. Uniswap offers a higher degree of security and anonymity because users do not have to provide personal data. Moreover, Uniswap is an open-source platform managed by smart contracts.

Can Uniswap reach 50$?

It is difficult to make any reasonable long-term forecast, given the high volatility of the crypto market. Very few analysts and experts have expressed their opinion on the future of Uniswap cryptocurrency after 2025.

And while at the end of last year the DigitalCoin Service suggested that the UNI value will be $100 in 2028, this year’s UNI forecast for 2028 from this portal is fixed at a maximum of $19.82.

At the end of 2021, Coin Price Forecast predicted that UNI would be $64.17 by the end of 2025 and $64.28 in 2030. Currently, this portal estimates UNI in 2025 at the mark of $11.02 and in 2030 at $16.55 respectively.

Major analysts assume that in 2025-2030, the UNI maximum can reach $20-25.

Is Uniswap a good investment?

In September 2020, Uniswap made 400 UNI tokens available to all members of its community. At the time, the 400 tokens were worth about $800, but the same number of Uniswap tokens now is worth more than $2,200. This fact goes a long way toward explaining whether UNI tokens are worth buying or not.

There are other factors that make UNI a good investment, such as its parent Uniswap protocol has become a very important part of the De-Fi (decentralized finance) industry. Today, Uniswap is the largest decentralized crypto exchange based on the Ethereum network. However, the most important thing to keep in mind is that UNI tokens are very volatile, and investing in them can be profitable in the long run.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.