How do I buy illiquid tokens?
How do I buy illiquid tokens?
Hello,
I tried to buy many tokens on uniswap but it turned out most of them are illiquid.
It looks like illiquid tokens can always be bought but there might be problems with selling them later.
So I’d like to ask: How can I always buy illiquid tokens that aren’t listed on exchanges? Is it possible on uniswap or do I have to change platform? I don’t mind waiting hours to get my order filled btw.
P.S: I understand the risks well. And so if I’d ever do it, I will know how to manage my risk…
Thank you!
I tried to buy in the slowest way possible (e.g. 1USD despite the token having a market cap of around 10 Million USD). I failed.
I just checked some tokens on coingecko. They are green but for some reason whenever I try to buy the tokens on uniswap, I get the message “Insufficient liquidity”. I even messaged support and they told me there wasn’t liquidity. They stated afterwards that it is always possible to buy illiquid tokens. They did’nt tell me how I can do that however
If the only platforms the token is listed on are DEXs like Uniswap, your only option is to buy slowly. With every swap, you can see on the interface how much price impact you’ll be making. As much as possible, keep the price impact as low as you can while keeping the buy viable considering fees.
You can check the token’s CoinGecko page to see how liquid/illiquid it is so you can plan your buys better.