How to Buy Stablecoins and Trade Stablecoins on DEXs
Categories: ProductPublished On: May 4th, 20232.4 min read
A Quick Guide: Acquiring Stablecoins on Stably Ramp and Trading Assets on Decentralized Platforms Using MetaMask
Stably Ramp is an onramp platform that offers innovative solutions to traditional finance problems. With the rapid growth of decentralized finance (DeFi), stablecoins have become increasingly popular to trade and invest in the cryptocurrency market. This article will guide you through buying stablecoins on Stably’s Stably Ramp and trading them on Uniswap, the world’s largest decentralized exchange (DEX), using MetaMask as your wallet.
Step 1: Set up a MetaMask Wallet
Before buying stablecoins and trading on Uniswap, you’ll need a wallet to store your assets. MetaMask is a popular choice for a wallet, as it’s easy to use and compatible with various DeFi platforms.
Download the MetaMask browser extension for Chrome, Firefox, Brave, or Edge.
Follow the instructions to create a new wallet and back up your seed phrase.
Keep your seed phrase safe and private, as it’s the only way to recover your wallet if you lose access.
Copy your MetaMask wallet address by clicking on the account name at the top of the MetaMask extension.
Step 2: Buy Stablecoins on Stably’s Stably Ramp
Stably Ramp is a fiat-to-crypto on-ramp that allows you to buy stablecoins directly with your bank account or credit card.
Create an account or sign in if you already have one.
Choose the stablecoin you want to buy (e.g., USDC, USDT, or BUSD).
Enter the amount you want to purchase and select your payment method (bank transfer or credit card).
Enter or paste your MetaMask wallet address in the recipient field.
Complete the transaction and wait for your stablecoins to appear in your MetaMask wallet.
Step 3: Connect MetaMask to a DEX
Uniswap is a decentralized exchange allowing you to trade your stablecoins for other assets.
Go to the DEX.
Click on “Connect to a wallet” in the top right corner.
Select MetaMask and approve the connection request.
Step 4: Trade Stablecoins on a DEX
With your MetaMask wallet connected to a DEX, you can trade your stablecoins for other assets.
On the DEX interface, click a button synonymous with “Swap” in the navigation bar.
Select the stablecoin you want to trade from the “From” dropdown menu.
Choose the asset you want to trade for in the “To” dropdown menu.
Enter the amount you’d like to swap and review the estimated price.
Click on “Swap” and confirm the transaction in your MetaMask wallet.
Buying stablecoins on Stably’s Stably Ramp and trading them on DEXs like Uniswap or SushiSwap via MetaMask is a straightforward process that allows you to access the world of decentralized finance. By following these steps, you can take advantage of the benefits of DeFi and stablecoins, such as lower fees, increased security, and greater control over your assets.
Stably is a venture-backed FinTech from Seattle, Washington. We provide regulatory-compliant stablecoin and onramp infrastructure for emerging blockchains, Web3 applications, and financial institutions, enabling their users in 170+ countries/regions to easily buy, sell, or swap digital assets at competitive rates across multiple blockchain networks with stablecoins and fiat payments. Our mission is to power the next billion Web3 users with a superior fiat & stablecoin onramp.
RISK DISCLAIMER: Digital assets involve significant risks, including (but not limited to) market volatility, cybercrime, regulatory changes, and technological challenges. Past performance is not indicative of future results. Digital assets are not insured by any government agency and holding digital assets could result in loss of value, including principal. Please conduct your own thorough research and understand potential risks before purchasing/holding digital assets. Nothing herein shall be considered legal or financial advice. For more information about the risks and considerations when using our services, please view our full disclaimer.
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DISCLAIMER: Stably Corporation (“Stably”) is a blockchain and financial technology service provider, not a bank, with a registered address at 2910 Burnett Ave N, Renton, Washington 98056, USA. Stably Trading LLC (“ST”), a wholly owned subsidiary of Stably, is a FinCEN-registered money service business (MSB) with registration number 31000252673675 and a registered address at 2910 Burnett Ave N, Renton, Washington 98056, USA. Stably’s fiat orchestration partner, Bridge.xyz (“Bridge”), is a FinCEN-registered MSB with registration numbers 31000251587210 (Bridge Building Inc.) and 31000230810249 (Bridge Ventures Inc.), and registered addresses at 2120 University Ave, Suite 213, Berkeley, California 94704, USA, and 1501 Hillmont St, Austin, Texas 78704, USA, respectively. Bridge is not a bank.
Blockchain-connected products and services offered by Stably and ST are built on top of Bridge’s infrastructure via manual and automated integrations, leveraging its financial services including but not limited to: fiat custody, funds processing, virtual currency exchange, convertible virtual currency (CVC) administration—as defined by FIN-2013-G001 and FIN-2019-G001—plus Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance services.
Stably Ramp (“Stably Ramp”) is a non-custodial fiat-to-crypto on and off-ramp platform that enables a verified account holder (“User”) to mint/redeem stablecoins as well as buy/sell/swap stablecoins and other digital assets using fiat and blockchain payment methods. Fiat payments are processed by Bridge and blockchain transactions may be processed by Bridge, ST, or LI.FI (“LI.FI”), a decentralized exchange and token bridge aggregator (as applicable). Only Users whose identities and funding sources are verified by ST and/or Bridge for compliance with their terms and policies, including BSA/AML programs, are allowed to mint/redeem or buy/sell/swap stablecoins and digital assets with Stably Ramp.
Stably USD (also known as “Stably Dollar” or “USDS”) is a multichain stablecoin fully backed with liquid USD-denominated assets such as bank deposits, money market instruments, and/or USD-backed stablecoins (i.e., USDC). The collateral assets are held by Bridge, ST, or a designated trustee (as applicable) for the benefit of verified USDS token holders, including white-label versions of USDS like VeChainThor VeUSD and Viction CUSD. Bridge is the CVC administrator of USDS on Ethereum and ST is the CVC administrator of USDS on non-Ethereum networks, including white-label USDS versions. USDS and its white-label versions are not FDIC-insured. Every USDS token, including its white-label versions, may be minted/redeemed 1-to-1 with USD or USDC according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably BTC (also known as “Stably Wrapped Bitcoin” or “BTCS”) is a cross-chain Bitcoin (BTC) wrapped token fully backed with BTC held by ST or a designated trustee for the benefit of verified BTCS token holders. ST is the CVC administrator of BTCS. Every BTCS token may be minted or redeemed 1-to-1 with BTC according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably ETH (also known as “Stably Wrapped Ethereum” or “ETHS”) is a cross-chain Ethereum (ETH) wrapped token fully backed with ETH held by ST or a designated trustee for the benefit of verified ETHS token holders. ST is the CVC administrator of ETHS. Every ETHS token may be minted or redeemed 1-to-1 with ETH according to Stably’s terms and policies, minus fees, through a Stably Ramp account.
Stably reserves the right to deny, suspend or terminate any User’s usage of Stably Ramp, BTCS, ETHS, USDS and its white-label versions, if Stably deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations, or best practices.
Digital assets involve significant risks, including (but not limited to) market volatility, cybercrime, regulatory changes, and technological challenges. Past performance is not indicative of future results. Digital assets are not insured by any government agency and holding digital assets could result in loss of value, including principal. Stablecoins (e.g., USDS) and bridged assets (e.g., BTCS) involve additional risks, such as technical challenges, security vulnerabilities, reliance on third-party custodians, and dislocation of market prices relative to the underlying collaterals. Please conduct your own thorough research and understand potential risks before purchasing/holding digital assets. Nothing herein shall be considered legal or financial advice. For more information about the risks and considerations when using our services, please visit: stably.io/terms-of-service.