Uniswap vs Pancakeswap: Which is Better?

Decentralized exchanges (DEXs) have been increasingly popular over the past few years. Typical among them are the two names Uniswap vs Pancakeswap.

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What is Uniswap (UNI)?

Uniswap is a decentralized cryptocurrency exchange that allows users to trade any token or coin available on the Ethereum blockchain. With an easy-to-use interface, low fees, and real-time price charts, Uniswap offers a convenient experience for users to track the value of their investments.

Uniswap’s goal is to create a powerful and user-friendly exchange that caters to everyone who wants to enter the cryptocurrency market. This exchange not only helps users buy, sell, store, but also transfer many different cryptocurrencies.

To understand how Uniswap works, mastering the Swap Protocol is important. This is a feature that helps users exchange one cryptocurrency for another instantly. This is useful for investors who want to use a cryptocurrency for a specific purpose. Then quickly convert to another type to use.

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For example, if you want to buy a cup of coffee with Bitcoin. The slow process and high costs of sending Bitcoin can make the experience unpleasant. Conversely, using Ethereum to buy a new computer is also difficult because it is not suitable for that specific transaction.

Feature:

● Strong focus on security

● Intuitive and easy to use

● Enables instant exchange of a cryptocurrency using the Swap Protocol

● Provides support for various languages

Fee

Liquidity provider fees. The fee is divided by liquidity providers proportional to their liquidity reserve contribution. The token swap fee is 0.3%.

Protocol fees. There are currently no protocol fees.

Token (UNI)

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Uniswap has a native token known as UNI. This UNI token is mainly used as an official payment unit for fees in the Uniswap ecosystem. It is applied to cover token listing fees and perform deposit/withdrawal transactions from the decentralized exchange.

The UNI token also has special functions in participating, proposing, and opposing proposals. Has an important role in shaping the current and future landscape of the platform. In addition, it participates in a special staking model. In which users can stake their Tokens into staking contracts to receive daily rewards, while also locking their tokens for a certain period of time.

Related: What is The UNI Token? What Do You Need to Know about UNI Token?

What is PancakeSwap (CAKE)?

PancakeSwap, another decentralized cryptocurrency exchange, gives users the ability to exchange tokens or coins with others.

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Not only is PancakeSwap an attractive investment opportunity, but it has also received adoption from several major exchanges. Its appearance on exchanges is an indication of the demand for this currency and the number of people involved in trading it.

However, PancakeSwap may encounter problems when trying to connect to Trust Wallet due to incompatibility with some blockchains. This issue is a result of PancakeSwap’s possible incompatibility and robustness on other networks.

Featured:

● Various assets can be traded from a single interface

● Can easily buy and sell commodities, stocks and crypto assets

● Can use their crypto assets as collateral for loans

● Can earn passive income through rewards system

Fee

Transaction fees: The platform charges 0.20% per transaction, regardless of whether the person is the recipient or the originator.

Withdrawal fees: PancakeSwap does not charge transfer or withdrawal fees in addition to network fees.

Tokens (CAKE)

PancakeSwap’s token is CAKE. CAKE is not just an ordinary token, but also a type of utility token, providing access to special features on the PancakeSwap exchange. This allows users to conduct transactions with many different digital assets on the same decentralized trading platform.

Using CAKE brings many benefits, especially the ability to earn more tokens than main CAKE. Staking this token can help users capture a portion of the revenue from transaction fees on the platform.

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With each token you earn, you can continue staking to earn additional fees or use it as part of a liquidity pair in PancakeSwap. Through this, you can generate more tokens and can choose to deposit them into Syrup Pools to earn other BEP-20 tokens. This opens the door to accumulating a variety of tokens and taking advantage of incentives from the PancakeSwap ecosystem.

Uniswap vs PancakeSwap

PancakeSwap vs Uniswap both provide easy ways for investors to trade and invest in the blockchain space.

Features Uniswap PancakeSwap
Launch Date November 2018 September 2020
Exchange Platform Decentralized Decentralized
Support ERC-20 Tokens Yes No (unless you can swap Ethereum ERC20 tokens to BEP20 tokens)
Support NFTs Yes Yes
Fees Yes Yes
Customer Support Can be contacted through email Can be reached through socials, such as their Local Telegram Group, Twitter, and Instagram
Mobile App Yes Yes
Desktop App Yes Yes
Own Currency Yes Yes
Creates multiple wallets No Yes

Most Uniswap tokens have significant liquidity compared to PancakeSwap. Liquidity providers prefer Uniswap because PancakeSwap’s liquidity offering prioritizes more exotic token deposits.

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PancakeSwap vs Uniswap trading volume: PancakeSwap surpasses Uniswap. They must maintain this upward trajectory to beat Uniswap’s trading volume permanently.

The main difference between these two platforms is that Uniswap is just an exchange platform, while PancakeSwap also allows users to invest in ICOs and cryptocurrency baskets. PancakeSwap also offers more coins and tokens to choose from. There are also lower fees associated with using the platform.

Conclude

There are many different ways to invest in cryptocurrency, and each of these trading platforms offers users a quick and easy way to participate in this growing space. If you are new to the world of cryptocurrency, Uniswap vs PancakeSwap offers a simple way for users to exchange tokens and coins with other users.

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