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Best-Known Uniswap Alternatives That You Cannot Ignore !..

Telstra Gateways

Uniswap, and The world of crypto has shifted from centralized exchange platforms to their decentralized counterparts. While in others, there are numerous benefits pointing towards this change, the most impactful one is the ease of swapping between ERC-20 tokens using Ethereum’s immutable smart contract.

Out of the many DEXs available in the crypto market, there is one automated market maker, or AMM, that facilitates ERC-20 token swaps without needing one to open an account. Uniswap has become a fan favorite and one of the largest DEXs over the past few years due to a plethora of reasons, including:

Uniswap is considered the best match for all those who are looking for an all-crypto exchange platform where they can not only swap ERC20 tokens but also earn crypto through liquidity mining.

Considering all the pros of Uniswap, one might ask why search for an alternative in the first place. Many crypto enthusiasts want a better service and thus look for other DEXs available in the market. However, since entering the DEX scene in 2018, Uniswap has established itself as a fully decentralized protocol with millions of users. So naturally, Uniswap alternatives are lesser-known despite some of them having better features overall.

Uniswap fails to do the following, causing market participants to look for alternatives:

Due to the aforementioned reasons and more, such as affordability, there are many Uniswap alternatives that you could try for a better experience on a decentralized exchange platform. Let’s have a look at them:

KyberSwap

Crypto users looking for an easy solution to swap their crypto and earn tokens at the best available rates are familiar with KyberSwap. KyberSwap is a long-running participant in the DeFi sector that launched as the first-ever dynamic market maker. KyberSwap offers online crypto swap support to individuals, businesses, and even non-profits.

Reasons to prefer KyberSwap

Bancor

It is a well-known decentralized exchange platform that uses a standard for new-generation cryptos called Smart Tokens. This makes it easy for users to hold tokens and convert them into any other token present in the network. But the best part is that token conversions do not rely on a third party.

Reasons to prefer :

PancakeSwap

Pancakeswap is a popular automated market maker and yield farm all rolled into a DEX platform that runs on the Binance Smart Chain. Since 2020, Pancakeswap has left all of its competitors behind with its unique features that enable users to win and earn tokens. Pancakeswap offers the BEP20 token CAKE to incentivize liquidity provisions on this platform.

Reasons to prefer Pancakeswap:

Balancer

Balancer exchange is worth mentioning as a Uniswap alternative that could grow big in the future. It allows easy ERC-20 token swaps across its liquidity pool in a trustless manner. As a non-custodial automated market maker on the Ethereum network, it offers intuitive pools for complex trading, which are unavailable in the case of Uniswap.

Reasons to prefer a balancer:

Wrapping up

As the concept of passive income holds significance among crypto enthusiasts, platforms like the aforementioned open doors to gain more than what they trade each day for casual or experienced crypto traders, as well as liquidity providers.

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