Guide to Pancakeswap Alternatives

Guide to Pancakeswap Alternatives

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Chris
Chris

An editor at Coincrop


29 Aug 2022 | 23 min read
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I

t wasn't that many years ago that decentralised exchanges were a niche product that was only used by early cryptocurrency enthusiasts. That has since changed and decentralised exchanges are a significant part of the cryptocurrency ecosystem.

One of the most widely used decentralised cryptocurrency exchanges is Pancakeswap running on the Binance Smart Chain blockchain.

Pancakeswap has become so popular that it now handles over $12 billion in trading volume every day.

Disclaimer: All of the information written on Coincrop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.

Pancakeswap Alternative

With such a large amount of trading volume, it's no surprise that there are now several Pancakeswap alternatives. In this guide, we will take a look at some of the most popular Pancakeswap alternatives.

Pancakeswap is a decentralised exchange built on the Binance Smart Chain blockchain. It allows users to trade a variety of cryptocurrency assets safely and securely.

Pancakeswap uses an automated market maker (AMM) model which means that there is no need for order books. Instead, trades are executed automatically at the best possible prices.

Pancakeswap also offers a staking service which allows users to earn rewards for providing liquidity to the platform.

Before we consider what a pancakeswap alternative is, it's worth asking what a decentralised exchange is.

What is a Decentralised Exchange?

A decentralised exchange (DEX) is a type of cryptocurrency exchange that does not rely on a third party to hold, process or facilitate trades. Instead, trades are conducted directly between users through an automated process. This differs from centralised exchanges, which typically require users to deposit their funds with the exchange before trading.

DEXs are often seen as a more secure way to trade cryptocurrencies, as they eliminate the risk of centralised points of control being hacked or breached. They also offer greater transparency and privacy, as decentralised exchanges do not hold user data in a centralised location. 

Decentralised exchanges can be more difficult to use than centralised exchanges, and they typically have lower trading volumes. As a result, they are not yet as popular as their centralised counterparts.

Now that you understand what a decentralised exchange is, we can consider a pancakeswap alternative.

So, what are some of the best Pancakeswap alternatives? Let's take a look.

Oneinch Network

Pancakeswap alternative Oneinch Network

Oneinch Network is a decentralised exchange aggregator built on Ethereum. It sources the best prices from several different exchanges and presents them to users in one place. This makes it quick and easy to find the best price for your trade. Oneinch Network also offers several features such as price matching and flash swaps.

The main advantage of Oneinch Network is that it sources the best prices from several different exchanges. This means that you can be sure you're getting the best possible price for your trade. Oneinch Network also offers several features such as price matching and flash swaps.

However, there are some disadvantages to using this platform. Oneinch Network doesn't offer as much liquidity as some of the other pancakeswap alternatives, and it's also not available in all countries.

If you're looking for a pancakeswap alternative that offers a great selection of features and competitive prices, then you should check out Oneinch Network.

This platform is perfect for users who want to trade any ERC-20 token. With Oneinch Network, you can be sure you're getting the best possible price for your trade.

However, Oneinch Network doesn't offer as much liquidity as some of the other pancakeswap alternatives. Additionally, this platform is not available in all countries.

Oneinch Network is a great pancakeswap alternative for users who want to trade any ERC-20 token.

Advantages when compared as a pancakeswap alternative: 

- Oneinch Network is an easy-to-use platform that gives you access to the best prices from several different exchanges.

- The platform offers several features such as price matching and flash swaps.

Disadvantages when compared as a pancakeswap alternative: 

- Oneinch Network does not currently support pancakeswap.

The Oneinch decentralised exchange is a popular pancakeswap alternative.

VoltSwap

Pancakeswap alternative Oneinch Network

VoltSwap is an automated market maker (AMM) that allows users to trade a variety of assets simply and efficiently. VoltSwap also allows users to provide liquidity and earn rewards. The platform is easy to use and provides a user-friendly interface.

If you're looking for a pancakeswap alternative that's easy to use and provides a great user experience, then you should check out VoltSwap. This platform is perfect for users who want to trade a variety of assets simply and efficiently.

Additionally, VoltSwap allows users to provide liquidity and earn rewards. However, there are some disadvantages to using this platform. VoltSwap does not currently support pancakeswap, and it is also not available in all countries.

Advantages when compared as a pancakeswap alternative: 

- VoltSwap is an automated market maker that allows users to trade a variety of assets simply and efficiently. 

- Users can provide liquidity and earn rewards. 

- The platform is easy to use and provides a user-friendly interface.

Disadvantages when compared as a pancakeswap alternative: 

- VoltSwap does not currently support pancakeswap.

The VoltSwap decentralised exchange is a worthy pancakeswap alternative.

Raydium

Pancakeswap alternative Raydium

Raydium is a decentralized finance (DeFi) protocol that allows users to trade a variety of assets simply and efficiently. Raydium also allows users to provide liquidity and earn rewards. The platform is easy to use and provides a user-friendly interface.

Raydium is a decentralized liquidity protocol that enables the frictionless trading of digital assets. It is built on the Solana blockchain and utilizes an innovative approach to automated market making, which allows it to provide users with low-latency, high-liquidity trading experiences.

There are many reasons why you might want to use Raydium for your digital asset trading needs. First and foremost, it offers significantly lower latency than other protocols thanks to its unique design. This means that you can trade at speeds that are simply not possible on other platforms.

In addition, Raydium provides extremely high levels of liquidity, which is essential for anyone looking to trade large amounts of digital assets. This is made possible by the fact that it does not rely on order books, but instead uses a smart contract-based approach to matching trades.

Raydium is highly secure and decentralized, which means that your funds are always safe and under your control. There is no need to trust a centralized exchange with your assets, and you can be sure that your trading activities will remain private and confidential.

Raydium works by using a smart contract-based system to match buyers and sellers of digital assets. This means that there is no need for an order book, and all trades are executed instantly at the best possible prices.

Advantages when compared as a pancakeswap alternative: 

- Raydium is a decentralized finance (DeFi) protocol that allows users to trade a variety of assets simply and efficiently. 

- Users can provide liquidity and earn rewards. 

- The platform is easy to use and provides a user-friendly interface.

Raydium should be considered as a pancakeswap alternative.

Quickswap

Pancakeswap alternative Quickswap

Quickswap is a decentralized exchange (DEX) built on the Ethereum network. It allows users to trade ETH and ERC20 tokens in a safe and secure environment. Quickswap also allows users to provide liquidity and earn rewards. The platform is easy to use and provides a user-friendly interface.

Advantages when compared as a pancakeswap alternative: 

- Users can provide liquidity and earn rewards. 

- The platform is easy to use. 

- Provides a user-friendly interface. 

Disadvantages when compared as a pancakeswap alternative: 

- There have been some reports of bugs and glitches on the platform. 

- Some users have also complained about the high fees.

Although Quickswap is still new, it is a viable pancakeswap alternative.

Sushiswap

Pancakeswap alternative Sushiswap

Sushiswap is a decentralized exchange (DEX) built on the Ethereum blockchain that allows users to trade ETH and ERC20 tokens. The Sushiswap platform was launched in September 2020 by the anonymous development team known as Chef Nomi.

Sushiswap is modelled after the popular Uniswap DEX and uses a similar liquidity pool design. However, Sushiswap also incorporates features that make it unique, such as staking rewards for liquidity providers and governance by the SUSHI token holders.

Sushiswap has quickly become one of the leading DEXes on Ethereum, with over $1 billion worth of ETH and ERC20 tokens traded on the platform since its launch.

Advantages when compared as a pancakeswap alternative: 

- It allows users to trade ETH and ERC20 tokens in a safe and secure environment. 

- Sushiswap also allows users to provide liquidity and earn rewards. 

- The platform is easy to use. 

- Provides a user-friendly interface. 

Disadvantages when compared as a pancakeswap alternative: 

- There have been some reports of bugs and glitches on the platform. 

- Some users have also complained about the high fees. 

Given how long Sushiswap has been around, it is a significant pancakeswap alternative.

Uniswap

Pancakeswap alternative Uniswap

Uniswap is a decentralized protocol on the Ethereum blockchain that allows users to swap ERC20 tokens. The protocol was launched in November 2018 by Hayden Adams.

Uniswap is designed to be simple and easy to use, with no need for an order book or trading fees. Instead, it relies on an automated market maker (AMM) model, which uses liquidity pools to provide fair and efficient token swaps. 

Uniswap has become one of the most popular protocols on Ethereum, due to its ease of use and low fees. However, there are some disadvantages to using Uniswap. For example, because it is decentralized, there is no customer service or support if something goes wrong.

Additionally, because it relies on liquidity pools, it can be subject to flash crashes or other volatility.

Overall, Uniswap is a popular and convenient option for swapping ERC20 tokens, but it is important to be aware of the risks before using it.

Advantages when compared as a pancakeswap alternative: 

- Uniswap is designed to be simple and easy to use, with no need for an order book or trading fees. 

- Uniswap has become one of the most popular protocols on Ethereum, due to its ease of use and low fees. 

Disadvantages when compared as a pancakeswap alternative: 

- Because it is decentralized, there is no customer service or support if something goes wrong. 

- Additionally, because it relies on liquidity pools, it can be subject to flash crashes or other volatility. 

- Overall, Uniswap is a popular and convenient option for swapping ERC20 tokens, but it is important to be aware of the risks before using it. 

If you are looking for an established and safe decentralised exchange then consider Uniswap as a Pancakeswap alternative.

Serum

Pancakeswap alternative Serum

Serum is a decentralized exchange that launched in September 2020. Serum is built on the Solana blockchain and uses the Serum token (SRM) for fees. Serum was created by Sam Bankman-Fried, the CEO of FTX, and Bharath Rao, the former CTO of Alameda Research.

Serum uses Atomic Swaps and a decentralized order book to match orders. Serum does not have trading fees; instead, users pay a small amount of SRM to submit an order. Serum also has a "Tap" feature that allows users to earn SRM by providing liquidity to the Serum market.

The Tap is similar to a staking pool; however, it does not require users to lock up their SRM. Serum is one of the few Decentralized Exchanges that supports margin trading. Serum margin trades are settled on-chain and use the same decentralized order book as spot trades.

Serum also offers Futures contracts and options trading. Serum's main advantage over other decentralized exchanges is its low latency; Solana can process thousands of transactions per second, which is much faster than Ethereum. However, due to its relatively new platform, Serum does not have as many features or liquidity as some of its older competitors.

Advantages when compared as a pancakeswap alternative: 

- Serum does not have trading fees; instead, users pay a small amount of SRM to submit an order. 

- Serum is one of the few Decentralized Exchanges that supports margin trading. 

- Serum margin trades are settled on-chain and use the same decentralized order book as spot trades. 

- Serum also offers Futures contracts and options trading. 

Disadvantages when compared as a pancakeswap alternative: 

- However, due to its relatively new platform, Serum does not have as many features or liquidity as some of its older competitors. 

- Additionally, because it is built on the Solana blockchain, users need to have SOL to use Serum. 

If you have an interest in the Solana blockchain, Serum is a good pancakeswap alternative.

Sunswap

Pancakeswap alternative Sunswap

Sunswap is a decentralized exchange that allows users to trade cryptocurrency without having to rely on a third party.

Sunswap uses a unique process called "atomic swaps" which allows two parties to trade directly with each other without the need for a central intermediary Sunswap also offers several other advantages, including ethical sun-mining, low fees, and fast transaction times.

However, Sunswap also has some disadvantages, such as the fact that it is not available in all countries and that it can be difficult to use for beginners. Overall, Sunswap is a promising new decentralized exchange with a lot of potential.

Advantages when compared as a pancakeswap alternative: 

- Sunswap uses a unique process called "atomic swaps" which allows two parties to trade directly with each other without the need for a central intermediary 

- Sunswap also offers several other advantages, including ethical sun-mining, low fees, and fast transaction times. 

Disadvantages when compared as a pancakeswap alternative: 

- Sunswap is not available in all countries 

- It can be difficult to use for beginners. 

Despite how new this decentralised exchange is, it should be considered as a good pancakeswap alternative.

Wraping Up

There are many pancakeswap alternatives available for users to choose from. Each platform has its own advantages and disadvantages. It is important to research each option before deciding which one is right for you.


Chris

Chris

An editor at Coincrop
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Chris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.


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