BEST Quickswap Tutorial - Step by Step Guide (Polygon Video Series pt. 2)

Boxmining

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Description

Official site for Quickswap: https://quickswap.exchange MetaMask Guide: https://www.youtube.com/watch?v=Q9JpDA-Ax3E Learn how to use Quickswap exchange on Polygon (Matic) Network in this tutorial. W...

Official site for Quickswap: https://quickswap.exchange MetaMask Guide: https://www.youtube.com/watch?v=Q9JpDA-Ax3E Learn how to use Quickswap exchange on Polygon (Matic) Network in this tutorial. We take you step by step through switching to Polygon on Metamask, followed by swapping to different cryptocurrencies on Quickswap (QUICK). We talk about advanced features for adding liquidity to Quickswap liquidity pools and yield farm on Polygon. Gemmy's Youtube Channel: https://www.youtube.com/c/CryptoGems1 Gemmy's Instagram: https://www.instagram.com/gemmy_wong_ht/?utm_medium=copy_link 0:00 Introduction 2:17 Adding Quickswap 3:52 Swap Example 6:08 Limit Orders 7:30 Adding to Liquidity Pools ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● 📖 Guides, tutorials and insights: https://boxmining.com/ Recommendation List: https://www.cryptoatlas.io/Boxmining 🌼Buy & Sell Bitcoin: https://join.swissborg.com/r/michaeOQZM 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave 📲Bybit Exchange (Most powerful): https://partner.bybit.com/b/boxyt 📲Binance Exchange: http://boxmining.co/binance ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining clips: https://www.youtube.com/channel/UCjFy3VBgOZanySOLhQu6GaQ Boxmining News Website: https://www.boxmining.com/ Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Twitter: https://twitter.com/boxmining Discord: https://discord.gg/9qCpqpZm8G Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.

AI Analysis

Here’s a summary of the QuickSwap tutorial on Polygon, which is a big deal because it makes swapping tokens and yield farming way more affordable and faster than on the Ethereum mainnet. This guide walks you through everything from safely accessing QuickSwap to making your first token swap, using limit orders, and even earning passive income by providing liquidity. It's essentially Uniswap but on the Polygon network, making it a much cheaper and more efficient option for decentralized finance (DeFi) activities.

### Key Topics and Technical Details

* Introduction to QuickSwap and Polygon: QuickSwap is touted as a significantly faster and cheaper alternative to swapping tokens and yield farming compared to Ethereum. This cost-effectiveness and speed are driving increased adoption of the Polygon network and QuickSwap. It's literally like using Uniswap, but on Polygon.
* Assuming MetaMask Readiness: The tutorial assumes you already have a MetaMask wallet set up. If not, there's a helpful guide by Michael linked in the description to get you started.
* Ensuring QuickSwap Link Legitimacy: A crucial safety tip is to always find the QuickSwap link through CoinGecko instead of just Google searching. This prevents you from accidentally clicking on scam links designed to steal your funds, which is a real concern in the crypto space. The official site is quickswap.exchange.
* Understanding EVM Compatibility: QuickSwap is EVM compatible, meaning it can handle ERC20 tokens. This is a big advantage as it allows for easy swapping of many popular tokens.
* Funding Your MetaMask Wallet: To get started on QuickSwap, you’ll need to top up your MetaMask wallet with some MATIC tokens, which are used to pay for transaction fees on the Polygon network. You can buy MATIC from an exchange like Binance and transfer it to your MetaMask.
* The Token Swapping Process:
* To swap tokens (like USDC to Angel tokens), you simply select the tokens you want to exchange.
* You input the amount you wish to swap and then "approve" the transaction in your MetaMask, followed by "confirming the swap."
* The presenter highlights how incredibly cheap transactions are on QuickSwap compared to Uniswap, where a similar swap could cost around a hundred dollars. They felt relieved and impressed by the low fees.
* Handling Unlisted Tokens: If the token you want to swap to isn't immediately visible in the QuickSwap list, you can find its contract address on CoinGecko, copy it, and paste it into the search bar on QuickSwap. This will make the token appear.
* Leveraging Limit Orders:
* Limit orders are a super convenient feature, previously more common on centralized exchanges like Binance, but now available on QuickSwap.
* They allow you to set a desired price to buy or sell a token, and the order will automatically execute once that price is met. This means you don't have to constantly monitor the market.
* After placing a limit order, you can check its status in the "open order" section at the bottom of the page and later in the "cancel" or "execute" tabs. The presenter found this feature very useful for managing trades.
* Understanding Liquidity Pools:
* Liquidity pools are crucial for decentralized exchanges like QuickSwap. They hold pairs of tokens (e.g., MATIC and Angel) that facilitate trading.
* By providing liquidity, you deposit your tokens into these pools, which helps other users trade, and in return, you earn a share of the trading fees as passive income. The presenter emphasized this as a great way for advanced traders to make their crypto work for them.
* How to Add Liquidity:
* To provide liquidity, navigate to the "Pool" tab and select "Add Liquidity."
* You choose the two tokens you want to provide (e.g., MATIC and Angel tokens) and specify the amount.
* You then hit "Supply" and "Confirm Supply" in your MetaMask wallet. Again, the presenter noted how extremely low the fees were for this process.
* Once confirmed, you've successfully provided liquidity and are now earning passive income from transaction fees.
* Future Tutorials and Bridge Costs: There are plans for more tutorials, including one on using the Polygon bridge. A key takeaway mentioned is that moving funds between Ethereum and Polygon (and vice-versa) can be expensive, a detail to be elaborated on in future videos.
* Presenter's Personal Touch: Jemmy, the presenter, made it clear that this was their first solo tutorial on the channel and they were very open to suggestions and feedback in the comments to improve for future videos, which was a nice touch.

Transcript

Hello guys, welcome back to another episode on box mining. My name is Jemmy. As we promised before, we'll be making a lot more tutorial videos and apparently Michael has assigned me to do it. I'm here to make a very short video and since it's my first time here on this channel alone, if I'm not doing as good as Michael or you have any suggestions, do let me know in the comment section below so that I can improve and do better for you guys the next time. Well, today's topic is the exciting one. ...

Hello guys, welcome back to another episode on box mining. My name is Jemmy. As we promised before, we'll be making a lot more tutorial videos and apparently Michael has assigned me to do it. I'm here to make a very short video and since it's my first time here on this channel alone, if I'm not doing as good as Michael or you have any suggestions, do let me know in the comment section below so that I can improve and do better for you guys the next time. Well, today's topic is the exciting one. I'm gonna show you how to swap tokens on QuickSwap as a beginner. It will be completely beginner-threatening for more advanced traders. I'll also be showing you how to provide liquidity on QuickSwap platform as well. So why am I showing you how to do this? Because Polygon Network is much faster and cheaper than Ethereum, swapping tokens and yield farming on QuickSwap is extremely cost effective and therefore we can also see a rise in the adoption of the platform. Michael, Nathan and I did a video together explaining what Polygon is and why is it so powerful, why is it so important, its pros and cons, etc. So if you want to learn more about Polygon, make sure you watch the video as well by clicking the link on the top right corner. In this tutorial, I will assume that you already have your MetaMask ready. However, if you don't know how to create a MetaMask wallet, don't worry, Michael got your back. Click the link in the description box below and it will lead you to the MetaMask tutorial and Michael will teach you step by step on how to do it. So without further ado, let's start our tutorial. Instead of Google searching for QuickSwap, I'll actually go on CoinGecko and look for QuickSwap to make sure you don't click on some other links that could, you know, potentially lose your funds because there's so many bad people out there who will create a duplicated link to QuickSwap and try to steal your tokens away. So always make sure the link you're using is legit. So right now, let me just search QuickSwap. It's the first one on the list. Scroll down and you'll see in the website sector and you can just click the link QuickSwap.exchange. This way you'll know that the link you're using is legit. So now you're officially on QuickSwap. It looks really like just Uniswap. It's literally just Uniswap on Polygon. So more and more people are using QuickSwap because it's cheap and it's EVM compatible. What it means is actually you can swap your ELC20 token as well. So right now, let me just see how much I've got on my MetaMask wallet. So I have got 0.9657 Matic and 2.381 USDC. However, if you literally just started using your MetaMask wallet and you have to top up your account, go to your favorite exchange and buy some Matic and transfer to your MetaMask account. I usually use Binance and if I want to swap a bit more from, you know, Matic to Angel tokens, you have to go to your exchange. In my case, it would be Binance to buy some Matic and transfer to your Matic wallet. However, if you guys don't already have a Binance account, you can use the link down in the description box below and it will give you a 10% discount on those transactions fees and you will also help support the channel. So I'd really appreciate if you can use the link down below. So right now, let me just do a quick demonstration to switch from USDC to Angel tokens. So right now, you just have to search for USDC. It's already there and select a token. Well, I just want to mention something because in some cases, the token you're trying to swap to might not appear on the list. If that's the case, you have to go to CoinGecko and search for the token you're trying to swap to. I'm trying to swap to Angel tokens. So you have to copy and paste the wallet address, click copy and paste it here. And voila, you get the angel token. Click whatever amount you're comfortable with to swap to. I think in my case, I'll swap maybe one USDC to Angel token and go ahead and hit approve. So you've got the confirmation message right on the top corner. So let me just hit swap right now. Confirm swap. And you just have to wait for your transaction to go through. It really depends on how congested the network is right now. If it's more congested, they have to wait for longer. If the same transaction on Uniswap will probably cost you about a hundred bucks or something. But in this case, it's going to be very cheap. So I've just got my angel tokens on my MetaMask wallet. So I was using the swapping feature on Quickswap. Let me just go ahead and show you the limit order feature on Quickswap right now. This is actually a very convenient tool and limit orders have made centralized exchanges, you know, Binance and Coinbase more popular than DAXes. Because you can submit an order and buy or sell a token at your desired price. Afterwards, your order should be showing in the open order section at the bottom of the page. Also check the cancel and execute tabs later to see if your order was successful. Okay, so I have got my angel tokens on my MetaMask wallet. So right now I'm actually trying to buy some Matic with my USDC with a limit order feature on Quickswap. So you can go to the limit order section and click buy. I'm trying to buy more Matic with my USDC. I can go ahead and search Matic. It's actually on top of the list. So let me just click Matic. USDC max or whatever amount you're comfortable with. So right now the price is 1.23972 and you can set the order to your desired price. In this case, maybe I'll just set it to 7.1 and place order. Confirm order. So I have officially submitted my transaction and you can actually scroll down and see your order. So I'm going to click on my order. Still pending. Right now I'm just going to wait for a few minutes for my order to go through. So as you can see, I've already got my Matic on my MetaMask wallet and USDC of course have been deducted from my account. So right now I'm going to show those more advanced traders to provide liquidity on Quickswap. We want to provide liquidity which is the tokens that we own to the liquidity pool to facilitate trading on the Quickswap platform and earn passive income on our deposit. So without further ado, make sure you're on the pool tabs and click add liquidity. In my case, right now I have Matic and Angel tokens on my wallet. So I'll be adding Matic and Angel. Click Angel. So right now let me just go ahead and click Max or whatever amount you're comfortable with and provide liquidity. Hit supply. Confirm supply. Wait for the confirmation message to pop up again. As you can see, the fees are extremely low. Let me just go ahead and hit confirm. Again, my transaction has been submitted. Let me just wait for the confirmation message again. And voila! We have officially provide liquidity on Quickswap. So that's pretty much how you do it. There will be a lot more tutorial videos coming out in the future. Especially tutorial about, you know, how to use the Polygon bridge. But just bear in mind, moving your funds from Ethereum to Polygon and Polygon back to Ethereum could be expensive. But we will talk about more in details in the future. Anyway, thank you so much for watching this video. Hopefully you will find this video helpful. Also, make sure you click that like button and subscribe to this channel for more. Any topics you would like me or us or Michael to cover, you can let us know simply by commenting down below. If you want more regular updates from me, do follow me on Instagram, Twitter and my CryptoGems YouTube channel. And I'll see you guys next time. Cheers! Bye! Bye!