Gone are the days when feeding a MetaMask type crypto wallet backed by Uniswap presented innumerable limitations. Since yesterday, the situation has changed: the purchase of cryptocurrencies is done via the Uniswap web application. Explanations!
Uniswap teams up with Moonpay to facilitate crypto purchases
” Starting today, you can buy crypto on the Uniswap web app using a credit/debit card or bank transfer at the best web3 rates through our partnership with Moonpay. ยป
This official announcement posted on Twitter is only the summary of a well detailed article shared on the Uniswap blog. From now on, users of the decentralized exchange will have several options to choose from to be able to fund any wallet with cryptocurrencies via theDEX web app. Indeed, for the conversion of fiat into cryptocurrencies, they have the choice between:
- bank cards: debit cards or credit cards;
- bank transfers.
Note that this second option remains, for the moment, the prerogative of users residing in the United States, the United Kingdom, Brazil and in the single euro payment area (SEPA). Some of the accepted cryptocurrencies include Ethereum (ETH), Dai (DAI), Tether (USDT), Wrapped Ether (wETH), USD Coin (USDC), and Wrapped Bitcoin (wBTC).
It should also be noted that the actual conversions are supported by the mainnet of Ethereum, Optimism, Polygon and Arbitrum.
All of this is just the beginning of a series of changes to come as a result of a collaboration between Uniswap and Moonpay.
Some useful information
Purchasing cryptocurrencies via the Uniswap web application is done in 3 steps:
- connection of the crypto wallet to the web application;
- opening the drop-down list of portfolios;
- purchase of cryptocurrencies for possible uses.
In addition, it should be noted that any user wishing to fund his crypto wallet must comply with MoonPay’s KYC/AML policy. However, Uniswap promises not to require any personal and confidential information from its customers (financial data, surnames, date of birth, IP address, etc.). A way of acknowledging his mistake after the crypto community criticized MetaMask’s IP address harvesting project.
When it comes to fees, Uniswap promises its customers to charge as few fees as possible. However, they will have to respect the minimum purchase amount of 15 dollars and the caps on 10,000 dollars on Arbitrum and Optimism.
At this time, Uniswap does not allow the exchange of fiat for NFTs. Anyone interested in this kind of transaction will first have to buy ETH on MoonPay via the DEX web application. Also, it should be noted that the absence of an exit ramp does not allow the return of cryptos to bank accounts. Otherwise, to sell cryptocurrencies, the MoonPay site is perfect.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of
daily and weekly so you don’t miss any of the essential Tremplin.io!