What you need to get started

  1. Understand that uniswap is an avenue for you to swap between any 2 tokens in the world as long as it is listed on the Ethereum blockchain. Participants who provide liquidity to a pool to facilitate others in swapping between the 2 tokens are known as liquidity pool provider ( just a fancy term for investors ) and in return, they earn fees for doing so

    1. For an in-depth discussion on this although un-necessary if you just want to accomplish a swap, please click on this article to read

  2. An Ethereum based wallet that uniswap supports - a fancy word for this is known as an ERC-20 supported wallet

    1. Popular ones includes: Coinbase wallet, Metamask wallet
    2. IF you are a beginner, please just use the coinbase wallet

  3. A small amount of ETH deposited into the wallet to pay for GAS fees.

    1. Since each Ethereum transaction requires computational resources to execute, each transaction requires a fee. Gas refers to the fee required to successfully conduct a transaction on Ethereum.

    <aside> 💡 If this is confusing for you, just put ~0.05 eth (30 USD on Nov 2020) in your coinbase wallet so that transactions can be executed. Each transaction is approximately 3USD to 5USD depending on network congestion

    </aside>

  4. An internet connection with a browser

  5. Either USDC or XSGD to begin with

How to get XSGD

  1. You can get it from one of the following place:
    1. https://www.xfers.com/sg/stablecoin/
    2. https://tokenize.exchange/
    3. https://crypto.com/en/index.html (only if you have a singapore residential address)
    4. Swapping between USDC to XSGD on uniswap (which is what this tutorial is about)

<aside> 💡 What is XSGD? it's an SGD stablecoin on the ethereum blockchain - ie: the value of the token is pegged to SGD fiat currency. In short, you are holding on to SGD and it is not subjected to any fluctuation. (XSGD is also available on the ZIL blockchain, but you don't have to know this for this tutorial)

</aside>

How to get USDC

  1. You can get it from one of the following place:
    1. https://coinbase.com/ or any major global crypto currency exchange
    2. Swapping between USDC to XSGD on Uniswap (which is what this tutorial is about)

<aside> 💡 What is USDC? It's a USD stable coin on the ethereum blockchain - ie: the value of the token is pegged to USD fiat currency. In short, you are holding on to USD and it is not subjected to any fluctuation unless the fed starts printing money again

</aside>

Let's begin swapping XSGD to USDC using coinbase wallet

Part 1 - Acquiring XSGD first