Here is how to swap Tokens on MetaMask without using fiat. Meta Mask wallet allows easy swapping of any token to stable coins.
Swapping Tokens on MetaMask (Full Guide)
Swapping tokens, as used in crypto trade, is the process of exchanging one cryptocurrency for another. There is no crypto-fiat exchange involved.
With the assistance of swap service providers and decentralized exchanges (DEX), tokens can be swapped on most crypto wallets.
Using the built-in swap feature of MetaMask or other Decentralized Exchanges (DEX) like Uniswap, SushiSwap, ParaSwap, 1inch, and others, users can easily swap crypto tokens in MetaMask.
What is MetaMask wallet?
MetaMask combines and adds the tokens from all of its decentralized exchange aggregators and individual DEXs to provide the best swap price.
There is a full guide on What is MetaMask and how to setup here.
Just like exchanges like Uniswap or SushiSwap, you get to choose the best price to swap Tokens on MetaMask wallet.
Possible reasons to Swap Tokens on MetaMask
- To spread out your holdings: It’s not always a wise move to put all of your eggs in one basket, in this case, token.
If you’re one of the many people who wish to diversify your assets, you may quickly diversify your cryptocurrency portfolio with the MetaMask swap feature.
- To avoid volatility: The cryptocurrency market is renowned for its irrational swings most times.
Most of the time, there won’t be much time to consider your options before making a choice.
You can exchange your coins for stable coins if you wish to avoid this volatility. You have enough time to contemplate and reflect with stable coins.
- To increase your revenue: You can earn more if you make accurate market predictions and a little bit of luck.
Let’s start with the detailed process for exchanging tokens. If you haven’t set up a MetaMask account yet, you can do so by clicking this link: How to Set Up a MetaMask Wallet.
How to Swap Tokens or Coins on MetaMask?
The built-in swap capability of MetaMask allows you to swap coins easily.
With this feature, users can exchange their ERC-20, BEP 20, etc tokens more quickly.
Here is a detailed guide on how to exchange tokens in MetaMask.
For this guide, we will be using a brand new MetaMask wallet without funding to avoid promotion of any coin.
We will also be using a Mobile MetaMask wallet for this guide.
Open your wallet in MetaMask
Open your wallet extension for Metamask. After entering your password, click Unlock.
Select token/coin to Swap
You can view the home page of the MetaMask wallet following a successful login.
Select the Token or coin you want to swap.
You can select Buy, Send, and Swap directly beneath your wallet balance.
Choose a token
Two fields are seen here: ‘Swap from’ is the first, and ‘Swap to’ is the second.
Choose the token you wish to trade and enter the amount in the Swap field.
Choose the token you want to exchange for in the Swap to field.
Adjust the Slippage Options
The custom slippage percentage you want to use must then be chosen or typed in the Slippage Tolerance area.
Slippage occurs when the price changes between the order confirmation and execution.
If your maximum slippage percentage restriction is exceeded, the Slippage Tolerance option will cancel the swap order.
Therefore, establishing a slippage percentage is crucial. You can choose from the offered options or choose Custom and enter your desired percentage.
Select Swap Review
You can click Review Swap once you’ve entered the slippage % and swap token data.
MetaMask will begin to gather quotes from its decentralized exchange aggregators and particular DEXs as soon as you click the Review Swap button.
It will then display the best quote together with the gas cost. Please take note that the quotes include the MetaMask cost.
If everything appears to be in order, select Swap and wait until the transaction is finished. You’ve successfully moved your token, so that’s all.
To view that for some coins, you must add the token’s contract to your MetMask wallet. Click here for more information on adding custom tokens.
Tokens can be traded on any decentralized exchange (DEX)
As opposed to the built-in feature of MetaMask, exchanging tokens on any decentralized exchange requires a few manual procedures.
There are numerous DEX on the market, as was already noted at the onset. We’re using Uniswap in this situation.
The procedures outlined here can also be used with other DEXs even on MetaMask browser.
How to exchange tokens on any Decentralized exchange (DEX)
For this example, we will be using Uniswap through MetaMask secured browser.
Visiting the Uniswap website
You must first visit the Uniswap website uniswap.org. On the website’s upper right corner, click the Launch App button.
Link your wallet
The Launch App button will cause a new browser tab to start. You must submit your information there in order to switch network.
You can see Connect Wallet in the top right corner of this browser window. Just click it.
There will be a pop. Choose MetaMask.
The connection will be established and the MetaMask extension will open after choosing MetaMask.
Choose the desired MetaMask account if you have any. If not, leave it as is.
Connect and choose token
Select the token you want to swap in the first field at this point.
In the second field, pick the token you want to exchange for.
Enter the desired amount in the first field after choosing your tokens.
Once your amount has been input, Uniswap will begin to find the best price and present it in the second field.
You can see the gas price just below the second field.
Set a deadline for slippage and the transaction.
You must set the slippage tolerance and transaction deadline after entering the amount.
Click the setting button to start. These fields are seen there.
In the event that your maximum slippage percentage limit is exceeded, the slippage tolerance option will cancel your swap order.
If your transaction is still pending after the specified amount of time, you can use the transaction deadline option to roll it back.
As a result, you can adjust these parameters to meet your needs.
This is how to swap tokens on MetaMask and using the secured browser in MetaMask to securely swap your coins on a Decentralized exchange.