According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web platform
- Trading without exchange order book
Our Evaluation of PancakeSwap
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
PancakeSwap is a high-risk cryptocurrency exchange with the TU Overall Score of 2.29 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PancakeSwap clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
PancakeSwap is a convenient platform for traders and investors seeking to minimize transaction costs and access unique opportunities in the decentralized finance (DeFi) world. With its advanced execution technology and a wide range of investment options, PancakeSwap can appeal to those looking for new earning opportunities in the cryptocurrency industry.
Brief Look at PancakeSwap
PancakeSwap is a decentralized cryptocurrency exchange (DEX) launched in September 2020 on the Binance Smart Chain (BSC). Operating without intermediaries or regulatory oversight, it allows clients to trade cryptocurrencies directly. PancakeSwap offers a suite of tools, including token swaps, liquidity farming, lotteries, and an NFT marketplace. Investors can earn income by contributing to liquidity pools and staking CAKE tokens, the platform's native cryptocurrency.
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- No requirements for minimum deposits or order volumes.
- A wide range of investment opportunities, including staking and farming.
- High transaction speed due to execution through liquidity pools.
- Support for various BEP-20 tokens and integration with popular crypto wallets such as MetaMask, Trust Wallet, and WalletConnect.
- The platform is unregulated, increasing risks for traders.
- Limited support for tokens from other blockchains besides Binance Smart Chain.
TU Expert Advice
Author, Financial Expert at Traders Union
PancakeSwap offers cryptocurrency trading through its web platform, requiring minimal deposits and providing access to a wide array of investment options such as staking and farming. The platform supports a variety of BEP-20 tokens and integrates easily with popular crypto wallets like MetaMask and Trust Wallet. With its focus on decentralized finance, PancakeSwap ensures high transaction speeds through liquidity pools, offering a unique trading model without an exchange order book.
However, PancakeSwap operates without regulatory oversight, which presents risks for traders. It offers limited support for non-Binance Smart Chain tokens, lacks leverage, and imposes relatively high fees compared to industry standards. PancakeSwap may suit traders seeking a straightforward, self-contained DeFi experience, but may not be ideal for those requiring regulatory assurance or engaging in cross-blockchain token investments.
PancakeSwap Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Web platform |
|---|---|
| 📊 Accounts: | Crypto wallets |
| 💰 Account currency: | Digital Currencies |
| 💵 Deposit / Withdrawal: | Cryptocurrency transactions |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | Not set |
| 💱 Commission: |
Spot: 0,25%-0,25% Futures: 0,25%-0,25% |
| 🔧 Instruments: | 164 supported coins, Futures, Options. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Via device browser |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Through liquidity pools using AMM mechanism |
| ⭐ Trading features: | Trading without exchange order book |
| 🎁 Contests and bonuses: | Yes |
Unlike centralized exchanges, PancakeSwap doesn't have traditional account types. As a decentralized platform, all transactions are conducted directly through connected crypto wallets that support the Binance Smart Chain.
PancakeSwap Key Parameters Evaluation
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Regulation and safety
PancakeSwap received a score of 0.75/10, indicating a low level of security and regulatory compliance. This suggests that the platform may lack essential protections, and users should exercise extreme caution.
- No successful hacks history
- Not U.S regulated
PancakeSwap Security Factors
We also compared PancakeSwap against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| PancakeSwap | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | No | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | No | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | No | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is PancakeSwap a regulated crypto exchange?
PancakeSwap is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean PancakeSwap is unreliable, government-regulated exchanges are generally considered more reliable due to the added oversight and client protection they offer.
Is verification (KYC) mandatory at PancakeSwap?
KYC verification is not mandatory for opening an account and trading at PancakeSwap. However, unverified accounts have certain limitations, such as lower withdrawal limits and restricted access to certain features.
In which countries is PancakeSwap available?
PancakeSwap complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Spain, United Kingdom, Australia, Canada, Israel, Cyprus, Sweden, Latvia, Romania, Portugal, Switzerland, Netherlands, Singapore, Iran, Islamic republic, France, Italy, Poland, Belgium, Norway, Czech Republic, Japan, Finland, Bulgaria, Korea, Estonia, Austria, Denmark, Germany, Lithuania, Ireland, Slovakia, Hungary, Iraq, Syrian Arab Republic, Zimbabwe. For the most up-to-date information on regional availability, please contact PancakeSwap support.
Is PancakeSwap available in the USA?
Yes, PancakeSwap is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
PancakeSwap commissions and fees
PancakeSwap received a 4.45/10 score for its commission structure, indicating that its fees are higher than the market average based on an evaluation of over 100 cryptocurrency exchanges.
- No deposit fee
- No Withdrawal fee
- Futures fees above industry average
- Spot fee above industry average
What are PancakeSwap trading fees?
We analyzed PancakeSwap’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
PancakeSwap trading fees vs competitors
| PancakeSwap | Huobi Global | WhiteBIT | Industry average | |
| Spot, maker fee (%) | 0,25 | 0,2 | 0,1 | 0.15 |
| Spot, taker fee (%) | 0,25 | 0,2 | 0,1 | 0.194 |
| Futures, maker fee(%) | 0,25 | 0,02 | 0,02 | 0.024 |
| Futures, taker fee(%) | 0,25 | 0,05 | 0,05 | 0.053 |
What are PancakeSwap deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0 |
Does PancakeSwap offer P2P trading?
No, PancakeSwap does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
Deposit and withdrawal
PancakeSwap received a 2.5/10 rating for its deposit and withdrawal services. PancakeSwap offers limited funding options and may charge fees, which could be inconvenient for many users.
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- No withdrawal fee
- No Google Pay option
- No P2P transfer option
Deposit and withdrawal options
PancakeSwap supports the following deposit and withdrawal options: Crypto.
PancakeSwap Deposit and withdrawal options vs competitors
| PancakeSwap | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is PancakeSwap minimum deposit?
The minimum deposit at PancakeSwap is 1 USD/USDT or 0 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
PancakeSwap minimum deposit vs competitors
| PancakeSwap | OKX | Kraken | |
| Minimum deposit, USD or USDT | 1 | 10 | 10 |
| Minimum deposit, BTC | 0 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 1 | 0,00001 | 1 |
Does PancakeSwap support fiat money?
PancakeSwap does not support fiat currencies; only cryptocurrencies are accepted.
Supported coins & markets
PancakeSwap received a score of 5/10 in this category, reflecting a solid selection of tradable assets and markets. PancakeSwap supports 164 cryptocurrencies and basic trading types, although some advanced features or asset diversity may be limited compared to leading exchanges.
- Staking available
- Crypto options available
- Crypto futures available
- Fiat currencies not supported
- Only 164 supported coins
PancakeSwap supported coins and markets vs competitors
We compared PancakeSwap with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| PancakeSwap | OKX | Kraken | |
| Supported coins | 164 | 329 | 278 |
| Futures/Perpetual contracts | Yes | Yes | Yes |
| Options | Yes | Yes | No |
| NFTs | No | Yes | Yes |
PancakeSwap passive income options vs competitors
We also compared PancakeSwap with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
| PancakeSwap | OKX | Kraken | |
| Staking | Yes | Yes | Yes |
| Yield farming | Yes | Yes | Yes |
| Copy trading | No | Yes | Yes |
Contacts
| Official site | https://pancakeswap.finance/ |
|---|
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