How to Fix Transaction Failed on Uniswap
Using the UniSwap decentralized exchange is usually pretty straightforward. You connect your wallet, look for a token, swap it, and that’s all.
Nonetheless, transaction fails are not impossible, mostly because most tokens need to have enough liquidity so users can process operations efficiently.
So, if transactions fail, it’s imperative to find a solution for this error as soon as we have a chance.
If you have experienced any failed transaction on UniSwap before, then this blog post is for you. Continue reading so you can get precise information about:
- How to fix “Transaction Failed” on Uniswap;
- What to do if I can’t swap a coin on UniSwap;
- Understanding why transactions fail on the UniSwap exchange.
What Does “Failed Transactions” Mean on UniSwap?
Failed transactions mean that the platform was unable to sell or buy one coin for another due to issues related to the token’s price movement or overall liquidity.
Swapping coins in UniSwap is not the same as doing so in centralized exchanges. You are not using fiat money - instead, swaps are made through decentralized coins.
Although it is pretty clear that you should avoid buying coins with little to no value, sometimes you need to go out of the box and forget about a very popular coin (such as UNI, for example).
As a consequence, in order to understand what’s really happening, we need to analyze the root causes of these matters. Learn more about UniSwap Swaps here.
1. Gas Fees too Low
If the transaction gas price or gas fee is too low, a timeout will be produced before being able to swap the coin on your account.
High gas fees appear when a higher price than expected appears. Hence, each transaction fee will have a direct consequence on the gas price, which will lead to an error appearing.
2. Deadline Hardcoded into UniSwap Transactions
All UniSwap transactions have a deadline, which depends primarily on the lower price or higher price you are expecting to pay for the token.
If, in any case, the transaction deadline gets exceeded due to fluctuations in the prices or any other reason, an error will appear on your screen.
Pro Tip: Sometimes, using the WETH token instead of ETH is necessary. In this case, you need to convert one token for another while conserving its value.
Learn more about wrapping the ETH coin here: Convert WETH to ETH on MetaMask.
3. Too Much Slippage Experienced
Slippage tolerance, AKA insufficient output amount, prevents any large price movement from interfering with the transaction.
The default slippage tolerance on UniSwap is so low that whenever a larger price movement happens, the transaction blocks with an error that prevents you from swapping.
In order to fix this error, we need to counter any price movement that might appear in the transaction.
How to Fix “Transaction Failed” on UniSwap
Although the reasons for this error are pretty different, all roads lead to Rome: we need to increase and change slippage tolerance.
Since the transaction fails at a lower price due to excessive movements, increasing our slippage tolerance will help us get rid of annoying fluctuations on a coin.
Nevertheless, whenever you increase slippage tolerance, you will be paying higher prices for the coin, so take this into account.
Step 1: Open UniSwap
In order to correctly use UniSwap, you first need to link a software wallet to it.
We recommend you use either Trust Wallet or Connect MetaMask to UniSwap - it’s your choice!
Then, go to the UniSwap website and proceed.
Step 2: Go to the “Swap” Tab on UniSwap
Now, you must go to the “Swap” section. Here is where all sell and buy transactions take place inside UniSwap.
Clearly, if you try to process any transaction, it will fail due to the aforementioned error. In order to fix it, you need to do the following.
Step 3: Select “Transaction Settings”
Click or tap on the little gear icon to go to “Transaction Settings.” Here, a new screen will appear.
You need to go to the “Slippage Tolerance” section, and start increasing it little by little.
Step 4: Gradually Increase Slippage Tolerance
Remember that changing the slippage tolerance will cause the platform to choose a higher value than the one you originally wanted to pay for, but it will also help you get rid of any error.
- Start by increasing the slippage tolerance to 3%;
- If the issue continues to appear, increase the slippage tolerance to 6% - watch out here, you might end up buying pretty high!;
- Finally, and this is your last resort, increase the slippage tolerance to 12% and be prepared to buy the coin at a much different price than originally desired.
Try to perform the swap again, and check if changing the slippage tolerance did the trick - it should!
That’s why you solve your problems! For more useful UniSwap insights, always trust on GrowFollowing.
FAQ
Is There an Alternative to UniSwap?
Yes, there is - UniSwap is not the only decentralized exchange out there! You can also use PancakeSwap if you must.
It can easily be connected with Trust Wallet, and it offers nice features such as Staking Cake on PancakeSwap. Learn more about this exchange by checking out our related articles.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.