Comparison of 1inch exchange vs Bakeryswap [ 2024 ]

The best cryptocurrency exchanges compared by their commissions, products offered, security and much more. Here is the 1inch exchange vs Bakeryswap comparison!

Your expert: Alejandro Borja

1inch exchange

1inch exchange

  • Threenvest valuation: 4,5/5
  • Network: 12 (Ethereum, BSC and Polygon...)
  • Security: High 4,9/5
  • Earns: Yes
Go exchange

Your expert: Xavier Tarrasó

bakeryswap

Bakeryswap

  • Threenvest valuation: 4,2/5
  • Network: BSC
  • Security: High 4,4/5
  • Earns: Yes
Go exchange

Main points

Fees

fluctuates
NFTs
Yes

Native token

Token 1INCH
0,30%

Fees

Yes
NFTs
Token BAKE
Native token

Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.5 – Offers competitive rates by aggregating liquidity from multiple sources, but third-party service fees may apply for fiat conversions.
4.2 – Generally low fees on the Binance Smart Chain, making it affordable for most users.

Level

fluctuates
0,30%

Brief explanation

1inch Exchange is a decentralized exchange (DEX) aggregator that prides itself on offering a fee-free trading experience for its users. Unlike many traditional exchanges, 1inch does not impose its own fees on trades, deposits, or withdrawals. Instead, the only costs users incur are the network gas fees associated with executing transactions on the underlying blockchains such as Ethereum, Binance Smart Chain, or Polygon. These gas fees vary based on network congestion and can be reduced significantly by using the platform’s CHI Gas Tokens, which can lower transaction costs by up to 42%​​. The absence of additional fees is one of the standout features of 1inch. This means that users are only responsible for the fees charged by the decentralized exchanges that 1inch uses to execute trades. For instance, if a swap is routed through Uniswap, the user pays Uniswap’s fees, but no extra charges from 1inch itself. This model allows 1inch to provide highly competitive rates by aggregating liquidity and optimizing trading paths across multiple exchanges​​. Furthermore, 1inch generates revenue through a portion of the fees collected by its liquidity providers and from positive slippage on trades. This revenue model supports the platform’s operations without directly charging its users, making it an attractive option for cost-conscious traders seeking the best available rates across the decentralized finance ecosystem​​.
BakerySwap’s fee structure is quite competitive and user-friendly. Trading on BakerySwap incurs relatively low fees, a common feature among exchanges on the Binance Smart Chain (BSC). The platform charges a 0.30% fee for each swap transaction, which is comparable to other decentralized exchanges. Of this, 0.25% is returned to liquidity providers as a reward, while the remaining 0.05% is used to buy back and burn BAKE tokens, which can help increase the token’s value over time. There are no deposit fees on BakerySwap, but users should be aware of the standard network fees associated with transferring assets on the BSC. Withdrawal fees are similarly low, reflecting the efficient nature of the BSC network. Overall, BakerySwap’s fee structure is designed to be cost-effective, making it an attractive option for traders looking to minimize their transaction costs while benefiting from the added utility of BAKE token incentives.

1inch exchange

1inch exchange
Read 1inch exchange review
  • Year Founded: Established in 2019, 1inch has quickly adapted to market demands and proven its resilience in the fast-evolving DeFi landscape, continuously enhancing its platform to meet trader needs effectively.
  • Security Methods: 1inch prioritizes user security by allowing traders to retain control over their funds, significantly reducing the risk of exchange hacks and mismanagement. Transactions are executed directly from users' wallets, ensuring safety and trust.
  • Trading Volume and Liquidity: The exchange is known for its substantial trading volume and deep liquidity pools, aggregated from multiple DEXs. This capability not only demonstrates its robust market presence but also enhances trade execution without significant price impact.
  • Reputation and Reviews: 1inch has built a strong reputation within the crypto community for providing efficient, cost-effective trading solutions and is highly regarded in user reviews for its innovative technology and reliable service.
  • Transparency: The platform operates with high transparency, disclosing smart contract functions and the operational mechanics of its Pathfinder algorithm. It also offers a governance token that involves the community in key decisions, reflecting its commitment to an open and fair trading environment.
  • Pros
  • Aggregates multiple DEXs for best prices.
  • Lowers slippage and transaction costs.
  • Pathfinder algorithm optimizes trade routes.
  • Cons
  • No fiat currency support.
  • Interface can be complex for beginners.

Bakeryswap

bakeryswap
Read bakeryswap review
  • Year Founded: BakerySwap was launched in 2020, during a significant rise in DeFi platforms, quickly establishing itself as a pioneer by integrating NFT capabilities on the Binance Smart Chain.
  • Number of Users: As of the last update, BakerySwap boasts a substantial user base with over 100,000 holders of its native BAKE token, demonstrating strong community support and utilization.
  • Security Methods: BakerySwap employs the Automated Market Maker (AMM) model, which enhances security by allowing users to trade directly from their wallets without the need for an intermediary, reducing the risk of hacks associated with traditional exchanges.
  • Reputation and Reviews: Gaining traction for its innovative approach and user-friendly interface, BakerySwap has garnered positive feedback from the community. Its integration of DeFi and NFT features on a less costly network has been particularly well-received.
  • Transparency: Despite the anonymity of its founders, BakerySwap operates under a decentralized autonomous organization (DAO) structure, which allows for community governance and decision-making, promoting transparency and user involvement in the platform's development and policy settings.
  • Pros
  • Low transaction fees, quick processing.
  • Innovative NFT and DeFi integration.
  • User-friendly, intuitive platform design.
  • Cons
  • Limited selection of tradable tokens.
  • Anonymity of founders raises concerns.

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Product selection

Native token

Yes, the native token is 1INCH.
Yes, the native token is BAKE.

Earns

Yes, 1inch offers EARNs through liquidity mining, staking 1INCH tokens for rewards, and participating in governance.
Yes, BakerySwap provides EARN opportunities through staking BAKE tokens, yield farming, and earning rewards from participating in NFT staking.

NFT marketplace

No, 1inch does not have an NFT marketplace.
Yes, BakerySwap has an NFT marketplace where users can buy, sell, and stake NFTs.

Cripto/debit card

No, 1inch does not offer a debit card.
No, BakerySwap does not offer a debit card.

Company information

Full name

1inch Limited
BakerySwap

Regulation

No, 1inch exchange is not regulated by any specific financial regulatory authority.
No, BakerySwap is not regulated by any specific financial regulatory authority.

Year founded

2019
2020

Founder

Sergej Kunz and Anton Bukov
The founding team remains anonymous, typical of many decentralized projects on the Binance Smart Chain.

Payment methods

Transfers

Deposits: Credit card, wire transfer (via MoonPay), cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

Yes, 1inch supports deposits via Mastercard through third-party services like MoonPay.
No, BakerySwap does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

Yes, 1inch supports deposits via wire transfer through third-party services like MoonPay.
No, BakerySwap does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

Yes, 1inch supports deposits via credit card, including Mastercard, through third-party services like MoonPay.
No, BakerySwap does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

1inch exchange FEATURES Bakeryswap
Trades can be as small as the network allows, but gas fees may make very small transactions impractical. Ideal for moderate and large trades.
Minimum Trade
BakerySwap’s minimum trade size is very accommodating, allowing users to trade small amounts, which is ideal for newcomers testing the waters.
Offers competitive fees by aggregating different DEXs to minimize slippage and transaction costs, making it cost-effective.
Trading and Transaction Fees
BakerySwap offers competitive low fees at 0.3% per transaction, with a portion going back to liquidity providers, making it cost-effective for frequent traders.
Supports a vast array of cryptocurrencies by connecting with multiple DEXs, providing access to a wide variety of tokens.
Number of Cryptocurrencies
While BakerySwap supports a variety of BEP-20 tokens, its range is limited compared to larger exchanges, focusing primarily on tokens within the Binance Smart Chain ecosystem.
Extensive range of trading pairs available due to its aggregator model, allowing users to trade across different liquidity pools.
Crypto-to-Crypto Trading Pairs
The platform offers a decent selection of crypto-to-crypto trading pairs, but it’s primarily limited to BEP-20 tokens, restricting broader crypto market access.
The website provides detailed information on how trades are routed for best prices, though some users may find the depth of data overwhelming.
Website Transparency
Although BakerySwap operates under a DAO and offers some level of operational transparency, the anonymity of its founders and sparse project documentation deduct points.
Supports multiple networks including Ethereum, Binance Smart Chain, Polygon, among others, enhancing its accessibility and utility.
Credit/Debit Card
BakerySwap is available exclusively on the Binance Smart Chain, benefiting from its speed and low costs, though this limits users to BSC’s infrastructure.
Does not provide custodial storage services; users must have their own wallets, which is secure but may be a barrier for new users.
Storage Offering
As a decentralized exchange, BakerySwap does not offer custodial storage services; users must manage their own wallets and private keys.
Offers governance token staking with voting rights and potential rewards, although the specifics and profitability can vary.
Staking and Rewards
BakerySwap provides attractive staking and liquidity provider rewards through its DeFi mechanisms, offering users additional avenues to earn from their holdings.
The website is well-designed with comprehensive details on operations and services, though it can be complex for beginners.
Mobile App and Desktop
The BakerySwap website is user-friendly and well-designed, providing easy navigation and accessibility for all levels of users, with integrated features for trading and staking.
Customer support is available, but responses can be slow during high traffic times. More resources for immediate support are needed.
Customer Service
Customer support is limited; while the platform offers basic support channels, it lacks the robust support services found on more established exchanges.
As a non-custodial platform, deposits and withdrawals are managed through users’ wallets, offering high security but less convenience for some.
Deposit and Withdraw
Deposits and withdrawals are handled directly through user wallets with no need for intermediary handling, providing a seamless process but with reliance on BSC for all transactions.

Key features

Analysis tools

Price aggregator, liquidity sources comparison, slippage protection, gas cost estimator, advanced order types, and historical data analysis.
Basic charts, liquidity pool analytics, farming yield calculators, and token statistics.

Mobile APP

Yes, 1inch has a mobile app available for both iOS and Android.
No, BakerySwap does not have a dedicated mobile app, but it can be accessed via mobile browsers.

Security

1inch employs advanced security measures, including smart contract audits and integration with secure wallets. The platform leverages decentralized liquidity aggregation, minimizing the risk of single points of failure.
BakerySwap benefits from the security features of the Binance Smart Chain, including regular audits and a strong focus on community-driven governance. However, users should remain cautious of potential risks inherent in DeFi protocols.

Additional features

1inch offers gas fee refunds for certain trades, DAO governance for community decision-making, a referral program, and its own 1INCH token used for governance and staking.
BakerySwap integrates NFTs, providing an NFT marketplace and NFT staking options. It also has gamified features like BakeryGallery for art, and BakerySwap Launchpad for new token launches.

Anonymity

No, 1inch does not allow anonymous account creation. Users need to connect a wallet to use the platform, but no personal identification is required.
Yes, BakerySwap allows anonymous usage as it operates purely on the Binance Smart Chain through wallet connections, without requiring personal information.

Key points

Available cryptocurrencies

Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), Tether (USDT), USD Coin (USDC), and many ERC-20 tokens.
Binance Coin (BNB), BakeryToken (BAKE), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and various BEP-20 tokens.

User-friendliness

1inch is known for its user-friendly interface and robust functionality, making it accessible for both beginners and experienced traders. The platform aggregates liquidity from various sources, ensuring competitive rates, but the complexity of some advanced features might be overwhelming for absolute newcomers.
BakerySwap offers an easy-to-navigate interface that caters well to beginners. It integrates various DeFi functionalities, including NFTs and staking, into a single platform. However, its wide range of features can be a bit confusing for new users who are only looking to trade cryptocurrencies.

Value for money

1inch offers excellent value for money by aggregating liquidity from multiple sources to provide users with the best possible rates and lower slippage. Its unique tokenomics and occasional gas fee rebates further enhance its cost-effectiveness.
BakerySwap is cost-effective, particularly for users looking to participate in DeFi beyond just trading, such as staking and NFTs. Its low transaction fees on the Binance Smart Chain (BSC) make it a budget-friendly option for diverse activities.

Countries of operation

Available globally, no specific country restrictions.
Available globally, primarily used in regions supporting Binance Smart Chain.

Best for

Ideal for experienced traders and investors who are looking for the best possible rates and minimal slippage across multiple DEXs. It’s also suitable for those who appreciate advanced trading features and want to maximize their returns through optimal liquidity aggregation.
Best suited for beginners and hobbyist investors interested in a variety of DeFi services, including staking, NFTs, and yield farming. Its low fees and gamified features make it attractive to users who want to explore more than just trading.

Account

Trading

1inch is a decentralized exchange aggregator that finds the best prices across various DEXes, ensuring optimal trade execution. The platform supports a wide range of cryptocurrencies and offers low slippage, making it suitable for both small and large traders. However, its interface can be complex for beginners.
BakerySwap operates on the Binance Smart Chain and combines DeFi with NFTs, offering a unique trading experience. It provides lower transaction fees compared to Ethereum-based DEXes. Nonetheless, the liquidity can be lower for some trading pairs, affecting trade execution speed and price stability.

Deposit and withdrawal

1inch Exchange does not handle deposits or withdrawals directly as it aggregates liquidity from various DEXes. Users connect their wallets (like MetaMask) to trade, ensuring funds remain in their control. While this enhances security, it requires users to manage their wallets and transaction fees independently.
BakerySwap on the Binance Smart Chain offers seamless wallet integration for deposits and withdrawals, with low transaction fees compared to Ethereum-based platforms. Users need to connect a BSC-compatible wallet, such as MetaMask or Trust Wallet, to trade. The process is user-friendly but depends on the user’s ability to manage their private keys.

Account opening process

1inch Exchange does not require a traditional account opening process. Users simply connect their crypto wallets, such as MetaMask, Ledger, or Trust Wallet, to start trading. This decentralized approach ensures user privacy and control over funds but requires familiarity with wallet management and security.
BakerySwap, built on the Binance Smart Chain, allows users to trade by connecting their BSC-compatible wallets like MetaMask or Trust Wallet. There is no need for account registration, making the process quick and straightforward. Users must ensure they have BNB for transaction fees and be comfortable managing their wallet’s private keys.

KYC required?

No, KYC is not mandatory for basic use through wallet connections.
No, KYC is not mandatory for using the platform.

Customer Service

1inch Exchange, as a decentralized platform, does not offer traditional customer service. Instead, users can find support through community forums, social media channels, and extensive documentation available on their website. While this decentralized support model promotes user self-reliance, it may not be sufficient for those who prefer direct customer support.
BakerySwap provides customer support primarily through its community channels on social media platforms like Twitter, Telegram, and Discord. Additionally, users can find help via the documentation and FAQs on the BakerySwap website. This community-driven support can be quick and helpful but lacks the direct assistance some users might need.

Security

1inch employs advanced security measures, including smart contract audits and integration with secure wallets. The platform leverages decentralized liquidity aggregation, minimizing the risk of single points of failure.
BakerySwap benefits from the security features of the Binance Smart Chain, including regular audits and a strong focus on community-driven governance. However, users should remain cautious of potential risks inherent in DeFi protocols.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert in the field, I highly recommend 1inch Exchange for traders looking for efficient and cost-effective crypto trading solutions. Its ability to aggregate multiple decentralized exchanges ensures users not only get the best prices but also benefit from reduced slippage. While it may appear daunting for beginners, the security and cost savings it offers make it a valuable tool for seasoned traders aiming to optimize their trading strategies across various networks.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I highly recommend BakerySwap for those interested in exploring the innovative world of decentralized finance, particularly within the Binance Smart Chain ecosystem. Its user-friendly interface, combined with low trading fees and unique offerings like NFT trading, make it an appealing option for both beginners and experienced users. However, potential users should consider the limited range of cryptocurrencies and the platform’s transparency before fully committing.

View all comparisons against 1inch exchange

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong, any exchange can have problems.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Comparison of 1inch exchange vs Bakeryswap [ 2024 ]

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