What is better Uniswap or PancakeSwap – All you should know
- October 10, 2021
Uniswap and PancakeSwap are both Automated Market Maker (AMM) decentralized exchanges, which enable users to trade tokens without the need for a counterparty. Unlike traditional centralized exchanges, these AMMs do not require any sign-up process or KYC verification. Instead, transactions are performed via an Ethereum smart contract on the blockchain network.
Both Uniswap and PancakeSwap use liquidity pools to facilitate token trades. With Uniswap, users can add their own assets to a liquidity pool, while with PancakeSwap they must first acquire CAKE tokens before adding them to the liquidity pool. Additionally, PancakeSwap has two other types of basic pools: LP-BCO and LP-BNB.
Deciding between Uniswap and PancakeSwap is an important decision for many traders. Both decentralized exchanges are popular for different reasons, so it’s worth considering which one works best for you.
Here are 10 things to consider when making your decision:
1. Coin selection
Each exchange offers a different range of coins, so the coin selection is key to making an informed choice. Uniswap has more than 400 tokens listed while PancakeSwap has just over 100 at the time of writing this article. Consider your desired holdings to decide which exchange will offer you the most options.
The fees on both platforms are quite low but they do differ slightly, with Uniswap’s charges at 0.30% and PancakeSwap’s at 0.20%. Decide which is more important to you – the lower fee or the wider range of coins offered on Uniswap.
Both exchanges have strong liquidity but PancakeSwap has a slight edge over Uniswap due to its CAKE token incentivised staking pool, where users can earn rewards for providing liquidity to the platform.
4. User interface
The user interfaces of both platforms are easy to use and intuitive, however some prefer Uniswap’s clean and simple design over PancakeSwap’s cartoonish style graphics. Consider which look you prefer before committing to either platform.
Uniswap and PancakeSwap both use smart contracts to ensure secure transactions, however only PancakeSwap uses an audited codebase which provides another layer of security for users.
6. Gas fees
The gas fees on both platforms are fairly low but they can vary depending on network congestion, so it’s worth keeping an eye out for spikes in prices when trading.
Both Uniswap and PancakeSwap have large communities with active traders and developers, so you can easily find support if needed for either platform.
If you’re looking to invest in a token, then Uniswap has a wide range of projects to choose from, visit https://www.angelos.art for more info. PancakeSwap has its own token, CAKE, which can be staked for rewards and is used to pay trading fees.
Uniswap is the original decentralized exchange and has been around longer than PancakeSwap, so it has had more time to establish itself as a reliable platform.
Both exchanges are decentralized with no central authority in charge, but they do have different governance models depending on how users want to manage their funds on each platform.
Ultimately, deciding between Uniswap and PancakeSwap comes down to personal preference based on your individual needs. Consider the factors above before making a decision so you can find an exchange that fits your objectives and goals. Good luck!
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