The Top DeFi Crypto Exchanges in 2022

10/04/2022By: C, Fiona

Decentralized finance‘s (DeFi) explosive expansion over the past few years has opened the door to promising new alternatives to the established financial system. Among these other platforms, DeFi exchanges stand out for providing traders with a means to buy and sell cryptocurrencies without relying on any one institution.

In this guide, we take an in-depth look at the top DeFi crypto exchanges in 2022, along with the features you should be aware of and instructions on how to start using one of the finest decentralized exchanges right away.


Review: The Top DeFi Crypto Exchange 

Even though DeFi crypto exchanges are new to the trading market, they have already radically altered the way many investors gain access to cryptocurrencies and earn returns. We’ll go into the top decentralized exchanges and discuss their fees, features, and asset offerings.

1.DeFi Swap: Overall Top DeFi Exchange

Crypto.com DeFi Swap Tutorial with Yield Farming Boost - YouTube

 

DeFi Swap is the greatest DeFi exchange and DeFi staking platform since it supports the best DEX coins, is widely regarded as one of the best DeFi apps, and has undergone rigorous testing and evaluation. Token swaps, staking, and yield farming are just some of the services that can be found on DeFi Swap, a community-driven decentralized exchange (DEX). As the platform’s native token, DeFi Coin (DEFC) is essential to the platform’s functionality.

The online portal for DeFi Swap can be accessed with any web browser, making it simple to get started with this DeFi platform right away. Binance Coin can be purchased on the platform and then converted to any of the tokens accepted by DeFi Swap because it is based on the Binance Smart Chain (BSC) network. Tokens like DAI, USDC, USDT, and ANKR are just some of the more than fifty supported by DeFi Swap right now.

The exchange’s liquidity pools are another potential source of profit. Through the use of smart contracts, liquidity pools have been developed that offer a guaranteed return on digital currency investments. This ‘yield farming’ strategy can pay off in the long run because the best DeFi interest rates are far greater than those offered by conventional banks.

As an additional feature, DeFi Swap provides a staking function, via which token holders can “lock-up” their tokens for a predetermined time period in exchange for interest payments. A lock-up period prevents you from accessing your holdings until after the transaction has completed, however it functions similarly to liquidity pools.

Last but not least, thanks to DeFi Swap’s novel token taxation system, investors who own DEFC, the platform’s native token, can also generate a passive income stream. DEFC transactions incur a 10% cost, of which 50% is returned to holders as a “dividend.” Because of this and the other reasons mentioned, DeFi Swap is our top choice for best DeFi exchange in 2018.

 

Pros

  • Friendliness of the internet interface
  • Tokens number in the dozens
  • Those who invest in DEFC on the Binance Smart Chain have the opportunity to receive passive income.
  • Farming tools including stakes and harvest aggregators

Cons

Mobile app is still in the works at this time.

 


2. Uniswap –Leading Anonymous DeFi Exchange

Uniswap, a DeFi Giant, Swept 50% of the Market Share on Polygon - BTCC

Uniswap is a great option if you’re searching for a high-volume, top-tier DeFi exchange. As reported by CoinMarketCap, Uniswap is the largest DEX by trading volume, routinely processing more than $4 billion daily.

Uniswap is a type of AMM, or automated market maker, which means it is completely decentralized and uses smart contracts to assist trading and the creation of profits. Users of Uniswap can either buy and sell tokens with one another or stake their tokens in liquidity pools, with the latter offering returns on par with or higher than the finest dividend stocks.

Uniswap’s location on the Ethereum blockchain means that a wide variety of tokens can be used. The fact that users don’t have to register or reveal any information keeps their transaction completely anonymous. Customers who purchase Uniswap can then use their tokens to cast votes on proposed changes to the platform’s governing structure.

The 0.3% fee added to each trade on Uniswap goes right back into the platform’s liquidity funds. However, when the network is busy, consumers may have to pay hefty GAS fees. However, Uniswap is an excellent DeFi platform to collaborate with because it is one of the safest and most well-respected DEXs in the industry.

 

Pros

  • Facilitates a wide variety of ERC-20 tokens
  • Use Uniswap without revealing one’s identity
  • Multiple popular cryptocurrency wallets are supported
  • Possessing a high liquidity

Cons

The cost of GAS might be very high

 


3. PancakeSwap, the Lowest-Cost DeFi Exchange

Binance Labs makes strategic investment in PancakeSwap

If you’re in the market to purchase cryptocurrencies, you might also want to check out PancakeSwap, a decentralized crypto exchange. PancakeSwap is a top peer-to-peer (P2P) cryptocurrency exchange because of its simple online interface and quick token switch times. PancakeSwap, like DeFi Swap, has been live on the Binance Smart Chain since September 2020.

Numerous crypto tokens are supported by PancakeSwap, and you can easily add them by searching for them or by entering their contract address manually. PancakeSwap presently supports 10 different wallet providers, including MetaMask and Binance Wallet, so you may link your crypto wallet to the platform and swap BNB for these tokens.

The 0.25% trading fee collected by PancakeSwap is used to fund the exchange’s liquidity pools and treasury, with a portion of the treasury funds being used to repurchase and burn CAKE, the platform’s native token. In addition to simple token exchanges, users can now participate in ‘Syrup Pools,’ where they can wager CAKE for a return in either CAKE or another token.

This cryptocurrency marketplace is decentralized and has a ‘PancakeSwap Lottery,’ among other services. As a result, it has quickly risen to prominence as one of the most reliable crypto lottery platforms, where players may stake their coins for a chance at prizes that regularly above $90,000. PancakeSwap is without a doubt one of the top DeFi exchanges available today, despite the fact that there is always the risk of temporary loss due to its liquidity pools.

 

Pros

  • Fees that aren’t too expensive
  • The trading platform’s user-friendliness
  • There is support for a humongous amount of tokens.
  • Greater than four million monthly users

 

Cons

Threat of Temporary Disappearance

 


4. 1inch – Excellent DEX for Low-Cost Swaps

Here's Why 1Inch Token Surged Over 100% in 24-Hours

One inch is another excellent DeFi platform to think about. While similar to the other choices we’ve provided, 1inch stands out as a DEX aggregator. This function identifies the most cost-effective means of making a certain swap by automatically scouring multiple decentralized markets.

To get the greatest pricing, this can require many token swaps across different platforms. The good news is that 1inch does not impose any fees on you during this process. However, the exchange with which 1inch collaborates may impose fees on you.

Access tokens hosted on Ethereum, Avalanche, BNB Chain, Polygon, and more with 1inch, one of the top altcoin exchanges for multi-chain support. One inch provides a unique wallet called DeFi that can be used to buy cryptocurrency using a credit card and keep the funds secure.

To earn additional 1inch or other supported coin, you can purchase 1inch and stake your holdings in the platform’s liquidity pools. Moreover, the ‘1inch Earn’ function provides an improved form of liquidity pools that results in a more consistent return. Last but not least, 1inch’s simplified interface makes decentralized trading simple for newcomers.

Pros

  • There have been no known breaches in its security.
  • More than 400 tokens from different blockchains are supported.
  • A new and ingenious “1inch Earn” function
  • Provides its own DeFi wallet only

 

Cons

In the United States, it is not subject to any kind of oversight.

 

 


 

Comparison of the Top DeFi Crypto Exchange 

In order to help you choose between the five best decentralized exchanges, we’ve compiled a table that details each one’s pricing, features, minimum deposit requirements, and asset support.

 

Exchange Number of DeFi Tokens Pricing Structure Key Features Minimum Deposit
DeFi Swap 50+ N/A Automatic liquidity poolsConvenient staking mechanism N/A
Uniswap 400+ 0.3% per trade A large number of ERC-20 tokens supportedNo registration  required N/A
PancakeSwap 50+ 0.25% per trade ‘Syrup Pools’ for stakingExciting crypto lottery N/A
1inch 400+ No fees More than 400 tokens supportedFinds the best rates for decentralized swaps N/A

 


The Top DeFi Crypto Exchange:Conclusion

This article has covered the finest DeFi exchange currently available, reviewed the leading platforms, and shown you how to start trading in a decentralized manner right away.

 

Disclaimer:Any statements, thoughts, or ideas expressed in this column do not necessarily reflect those of BTCC. BTCC makes no assurances about the content’s timeliness or correctness. Invest at your own risk and after doing your own due diligence.

 


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