In this article, we aim to teach you how to trade digital currency on the SushiSwap exchange, how to use this exchange, and how to convert various cryptocurrencies and tokens to each other through this platform.
SushiSwap is a decentralized exchange that started operating as a simple “fork” of Uniswap, the largest decentralized exchange on the Ethereum network.
SushiSwap is an automated market maker (AMM) that has a very similar environment to Uniswap. Today, SushiSwap has developed its lending platform and other services under the Sushi brand.
The main fork of SushiSwap was created with the idea of a community-owned decentralized exchange, at a time when Uniswap’s ownership appeared to be relatively centralized.
This community ownership was facilitated through the SUSHI token, which gave its owners governance rights and a share of the platform’s income. The emergence of SushiSwap and its token SUSHI was likely the reason for the creation of the UNI token as the governance token of Uniswap shortly after.
Like other decentralized exchanges such as Uniswap or PancakeSwap, it is necessary to have a digital currency wallet such as Trust Wallet or Metamask initially.
What wallet can connect SushiSwap?
SushiSwap can be connected to several different wallets that support the Ethereum network. Some of the most popular wallets that can connect to SushiSwap include:
- MetaMask – a browser extension and mobile wallet that allows users to interact with Ethereum-based dApps.
- Trust Wallet – a mobile wallet that supports a wide range of cryptocurrencies and decentralized applications, including SushiSwap.
- Ledger – a hardware wallet that provides enhanced security for users’ private keys.
- Trezor – another hardware wallet that can be used to securely store and manage cryptocurrencies.
- MyEtherWallet – a popular web-based wallet that allows users to interact with Ethereum-based dApps.
These are just a few examples of wallets that can connect to SushiSwap. Ultimately, the specific wallet you choose will depend on your personal preferences and requirements. It is important to ensure that you use a wallet that is compatible with SushiSwap and provides adequate security for your funds.
How to Use the Metamask Wallet on SushiSwap Exchange
First, open your Metamask wallet in your browser and select your desired network on the top right of the page, as shown below with “Binance Smart Chain” network selected.
Then, in another tab of your browser, go to the SushiSwap exchange website (https://app.sushi.com/swap). On the top right of the page, select the “connect to a wallet” option and choose MetaMask among the available wallets. Then, confirm the connection on MetaMask as well. Now, you should see your wallet address on the top of the SushiSwap website page and on the right side.
Now, in the “swap from” section, you can enter the amount of currency you have and want to convert some or all of it to another currency. Then, in the “swap to” section, select the currency or token you want to buy. Below this section, you can see the market price of this currency pair relative to each other, or basically understand at what price your transaction will be done. For example, in the image below, we want to convert our Binance Coin to Ethereum, and our transaction will be done at a rate of approximately 9 Binance Coin per Ethereum.
By clicking on the settings icon located in the upper right corner of the image above, you can enter other transaction settings such as price tolerance and duration of your order.
Finally, click on the “swap” button. In the next step, a summary of your transaction details may be displayed again. If it is confirmed by you, you can also confirm it in the end.
Does SushiSwap work with Trust Wallet?
Yes, SushiSwap works with Trust Wallet. Trust Wallet is a mobile wallet that supports a wide range of cryptocurrencies and decentralized applications, including SushiSwap. By connecting your Trust Wallet to SushiSwap, you can easily trade cryptocurrencies directly from your mobile device, with no need for an intermediary or a centralized exchange. The process of connecting Trust Wallet to SushiSwap is simple and straightforward, and can be completed in just a few steps. Once you have connected your wallet, you can start trading on SushiSwap with ease.
Using Trust Wallet to Work with SushiSwap Exchange
To connect Trust Wallet to SushiSwap, after opening Trust Wallet on your mobile device, select the DApps section at the bottom and choose SushiSwap from the DeFi section.
Then, after accessing the following page, select “Enter App”.
Then click on the Ethereum symbol at the top of the page to select your desired network.
Next, enter the amount of currency you have in your wallet and intend to convert, and select the currency or token you want to buy, just like in the previous step. As before, an approximate transaction price is written at the bottom for you, and by selecting the gear icon, you can apply the settings we mentioned earlier. Finally, select the “swap” option and then, after reviewing the details of your transaction, select the final confirmation or “confirm swap”.
Although SushiSwap started as a fork of Uniswap, it has been innovative in its own way by accepting community ownership and collaborating with new parts of the crypto ecosystem. Through collaboration with growing DeFi projects, expansion to other chains, and creating new DApps, SushiSwap continues to improve its presence and compete with Uniswap for market share. With the release of Uniswap v3, it will be interesting to see how SushiSwap reacts to maintain its position in the decentralized exchange space.
We hope this article has been useful for you and you have learned how to use SushiSwap exchange completely.