In this article we try to compare the two most popular decentralized cryptocurrency swap exchanges, Uniswap and Pancakeswap to determine the overall best one and spot their individual key differences.
Protocols
Uniswap is based mainly on the Ethereum network but is also available for Arbitrum, Avalanche, BNB and some other networks. Pancakeswap supports mainly Binance coin (BNB), Ethereum, Aptos and some others.
Result: Draw
Both exchanges support a wide range of protocols supporting all base currencies and providing a great user experience.
Acceptance and Popularity
Pancakeswap is the clear winner in this case brining more than double the users to its network than its competitor. Uniswap however remains the first choice for Ethereum based transactions.
Nice to haves
Uniswap was founded somewhat sooner than Pancakeswap more precisely in 2018 and the other in 2020. Hence many traders still consider Uniswap to be the better option when it comes to swaping out some coin.
Result: Uniswap wins this one
Fees
The major advantage of Pancakeswap over Uniswap is of course the absence of high and volatile fees that accompany the most popular altcoins. If you take a look at the Etherscan gas tracker the top addresses are Uniswap and Uniswap V2 totaling millions of fees each and every day.
The Binance coin and all the BNB Based coins/memecoins have next to nothing fees which makes Pancakeswap the winner.
Result
In truth both of these exchanges are unique and very well put together each in their own way, servicing millions of traders each day and growing the cryptocurrency community one swap at a time. Despite all the differences the Bullcoins verdict is : Draw.