What is Uniswap? 🦄
Uniswap is the biggest decentralized exchange or “DEX” on the Ethereum blockchain, allowing users to trustlessly swap and exchange Ethereum and Ethereum ERC-20 tokens.
Does Uniswap support bitcoin(BTC) swaps/trades? 🔀
Since bitcoin(BTC) has its own native blockchain separate from the Ethereum network, no — you can’t swap ‘real’ bitcoin(BTC) on Uniswap or any DEX in general on the Ethereum blockchain.
An alternative ✨
If you really want to buy bitcoin through Uniswap and hold it using your MetaMask wallet, you can use the so-called “wrapped bitcoin” instead.
Among the wrapped-bitcoin tokens, the most reputable ones are:
- Wrapped Bitcoin (WBTC)
- renBTC (RENBTC)
As of today, Wrapped Bitcoin (WBTC) seems to have the most exchange and DeFi adoption and the best reputation in general among the other choices.
Both wrapped bitcoin versions sort of “track” the price of bitcoin(BTC), so people can gain exposure to bitcoin and use the wrapped bitcoin on Ethereum DeFi platforms.
And yes, both WBTC and RENBTC are available to trade on Uniswap.
Or if you prefer using centralized exchanges — WBTC is available to trade on most big exchanges like Binance and FTX, while RENBTC is available on HotBit and Bittrex.
