Cryptoaware

What Is SushiSwap – How Does It Work

SushiSwap is a decentralized Exchanger DEX where you can swap tokens without involving an intermediary It is an Ethereum blockchain. Furthermore, It uses the decentralized trading method known as Automated Market Maker (AMM) unlike other platforms that need an intermediary for trading, SushiSwap uses peer-to-peer.

Why SushiSwap? SushiSwap uses a liquidity pool where investors can sell and buy crypto. More than 11,700 currencies can be exchanged by using this platform, and additional rewards on margin trading and liquidity mining.

 How to Get Started on the SushiSwap

As we know SushiSwap is an exchanger with the help of this we can swap crypto by making the entire process peer-to-peer. Here I’m going to discuss step by step guide on how to get started with the SushiSwap:

Step 1: Visit the Website

Go to the website Sushi and hit the button “Enter App”:

Step 2: Wallet Connectivity

Here we can swap different tokens, firstly we have to connect our wallets:

Here it gives multiple wallet options, you can go for one of them. Here I am connecting MetaMask:

Enter the password and hit the button “Unlock”:

Hit the button “Next”:

Finally hit the button “Connect” to connect the wallet:

Here the wallet is successfully connected:

Note: Here, I don’t have credit in my wallet because the purpose of this article is just to guide you.

Step 3: Start Currency Exchange

Hit the switch button ETH to open the currency you want to swap:

Select the token that you want to exchange:

Hit the circled drop-down button and select the token to which you want to swap:

Note: You can also buy crypto using SushiSwap.

To buy crypto select “Buy Crypto”:

You can purchase crypto using the following payment methods given in the screenshot Google Pay, Visa card, bank transfer, Apple Pay, and more. After selecting of payment method hit the button “Buy Now”:

Conclusion

SushiSwap is an Ethereum blockchain, it is an exchanger where you can swap tokens without involving an intermediary. It uses the Automated Market Maker (AMM), unlike other platforms that need an intermediary for trading, SushiSwap uses peer-to-peer. More than 11,700 currencies can be exchanged by using this platform, and additional rewards on margin trading and liquidity mining.

About the author

Talha