Uniswap was launched in November 2018, and it soon became the go-to cryptocurrency exchange. You can connect your hot-wallet to Uniswap and swap tokens in a single transaction (tx). However, if you want added security, you should choose to transfer assets to a Ledger hardware wallet.
In this tutorial, I will explain how you can move funds from Uniswap to Ledger, by tethering your Ledger device to Metamask.
How to Move Your Assets From Uniswap to Ledger?
You can move funds to your Ledger hardware wallet in two simple steps.
Step 1: Connect Your Ledger Device With Metamask Wallet.
Before you connect Ledger to Metamask, make sure you have the following:
- Latest firmware on your Ledger device
- Updated browser
- Latest Ethereum App on the Ledger. You can download it from Ledger Live. Go to the ‘Manager’ option and install ‘Ethereum‘.
- ‘Browser support‘ and ‘Contract data‘ enabled on your Ledger device
- Ledger live application closed
- Ledger device plugged into your computer via USB
Now that you have ensured the above-mentioned points, let’s move on to the second and final step.
Connect the Ledger Device With Metamask
- Login to your Metamask account.
- Click on your avatar on the top-right corner of the Metamask window.
- From the drop-down menu select ‘Connect Hardware Wallet‘.
- Once you select the Connect Hardware Wallet, a window will appear having ‘Ledger‘ and ‘Trezor‘ as the wallet options. Select Ledger.
- Click ‘Connect‘.
- Metamask will sort your accounts according to the balance. Choose the account you want to interact with. Metamask can have only one connected and accessible account at any given time.
- Now you have successfully created your ‘Ledger 1‘ account on Metamask. This account is similar to any other Metamask account. The difference is that you need to have your Ledger wallet connected in order to sign transactions or messages.
Transfer Tokens From Uniswap to Ledger
For the purpose of this example, let’s buy some Basic Attention Token (BAT) with Ethereum (ETH) via Uniswap and send them to your Ledger device.
- There can be many fake tokens on Uniswap as anyone can list tokens there. Thus, you must ensure that you are trading legitimate tokens. To ensure this, go to Coingecko and copy the ‘contract address’ of BAT tokens.
- Add the BAT tokens to your Ledger 1 account. Open your Ledger account on Metamask. Go to Assets > Add tokens > Custom Token. Now paste the contract address you copied, hit ‘Next’, and click on ‘Add Tokens’. Currently, the BAT balance would be zero. After you buy BAT tokens, the balance will be updated.
- Now, go to Uniswap and launch the app interface where you would swap your tokens.
- If your Ledger device is logged in, you would see your ETH balance on the swap window. If you are not logged in with your device, make sure you login.
- You would be swapping ETH for BAT tokens. Choose the ‘From’ and ‘To’ options accordingly. In the ‘To’ option, paste the contract address you copied from CoinGecko; Uniswap will automatically read it as BAT.
- Select the amount of BAT tokens you want to exchange against your ETH balance.
- Once you are satisfied with the exchange rates, hit ‘Swap’. As soon as you do this, another window will appear asking you to confirm the swap.
- After you select ‘Confirm Swap’, the Metamask window will automatically pop-up asking you to confirm the swap.
- Once you confirm the swap on Metamask, you are also required to confirm the exchange with your Ledger device.
- After confirming the swap on your Ledger device, the transaction will take a few seconds to confirm. Once the transaction is successful, the BAT balance will be added to your Ledger device.
As Uniswap grows in popularity, there will be a growing demand for wallets that allow users to manage their funds easily while providing a great user experience. Swapfolio aims to bring safety, simplicity, and speed to not only Uniswap but also other DEXs and chains in the future (based on the requests of the community and usage).
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