Uniswap

Uniswap is one of the most useful pieces of financial infrastructure that I use on a regular basis.

Started in 2018, it is a decentralized exchange that enables users to swap cryptocurrencies with one another. For example, you can use Uniswap to exchange USDC for ETH. Although it operates as a decentralized protocol running on Ethereum, the official Uniswap website is by far the most popular way to use the tool and provides the best user experience.

Having spent the last few years of my life living outside of the United States, I've become very dependent on Uniswap for my finances. Since I get paid in cryptocurrency, I use Uniswap to help me exchange into and out of stablecoins to pay for daily expenses like food, rent, and entertainment.

Recently, I needed to pull out fiat money for a transaction in Italy. I went to the local ATM and was shocked to see that the interchange fee to exchange dollars into euros was nearly 15%. This is absurd.

In contrast, Uniswap charges a 0.25% fee to exchange USDC to EURC, a ~100x difference from the legacy financial system. Plus, the experience of using Uniswap is far superior. Instead of leaving my apartment, finding an ATM, covering the pin with my palm to avoid getting mugged, and walking away with a wad of cash, I simply visit the website on my couch and complete the swap. It takes less than a minute and saves me tons of money.

Uniswap puts money directly into my pocket. That's a good product.