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To trade an ERC-20 token, I can go on Uniswap and trade with the liquidity pool.

How can I make a trade with a specific wallet? Do I need to find a smart contract that manages the bids and transfers?

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There are various approaches, each requiring different amounts of trust:

  1. Transfer your tokens directly to another wallet and trust (hope) that they send other tokens to you

  2. Approve another wallet to withdraw tokens from your wallet. Very similar trust issues as in the previous

  3. Use a middleman contract which handles the trade for you. Eliminates the need to trust another user, but you have to trust the contract. So either get familiar with its source code or trust it in some other way

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