Your First Swap
A swap is the most basic DeFi action - trading one token for another. Here's how it works on a DEX like Uniswap.
Before You Start
You'll need:
How Swapping Works
- Connect Wallet: Click "Connect Wallet" on the DEX
- Select Tokens: Choose what you have → what you want
- Enter Amount: How much to swap
- Review: Check the rate and slippage
- Approve & Swap: Confirm in your wallet
Understanding the Costs
Gas Fees
Every Ethereum transaction costs gas, paid in ETH. Fees vary based on network congestion.
Slippage
The price might change slightly between when you submit and when it executes. Set slippage tolerance (usually 0.5-1%) to protect yourself.
LP Fees
A small fee (usually 0.3%) goes to liquidity providers who make trading possible.
Tips for Your First Swap
- Start small to learn
- Check gas fees before trading
- Verify the token addresses
- Never rush - review everything
🔄 Swapping on a DEX means you stay in control. No account needed, no permission required.
You have completed all lessons in this module!