Comparison of 1inch exchange vs Pancakeswap [ 2024 ]

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

Your expert: Alejandro Borja

1inch exchange

Your expert: Xavier Tarrasó

Pancakeswap

Main points

Fees

fluctuates

NFTs

Yes

Native token

Token 1INCH

0,25%

Fees

Yes

NFTs

Token CAKE

Native token

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

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 – Low fees on the Binance Smart Chain, affordable for most users, but some yield farming activities may incur higher costs.

Level

fluctuates

0,25%

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.

PancakeSwap operates with a straightforward fee structure designed to benefit its users and liquidity providers while maintaining the platform’s economic sustainability. The main commission on PancakeSwap is a flat 0.25% trading fee applied to all spot transactions. This fee is divided as follows: 0.17% is returned to liquidity providers as a reward, 0.03% goes to the PancakeSwap Treasury, and 0.05% is used for CAKE token buyback and burn initiatives. For perpetual futures trading, PancakeSwap charges 0.02% for maker orders and 0.07% for taker orders. Users who pay trading fees with CAKE tokens receive a 5% discount on these fees, resulting in effective rates of 0.019% for makers and 0.0665% for takers. PancakeSwap does not charge withdrawal fees beyond the mandatory network fees, which vary depending on network congestion. This fee structure is competitive within the decentralized exchange landscape, providing a cost-effective trading environment for users.

1inch exchange

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.

Pancakeswap

Year Founded: Launched in 2020, PancakeSwap quickly established itself as a leading DEX on the Binance Smart Chain, showcasing robust growth and innovation in a short period.
Number of Users: Boasting a large user base, PancakeSwap demonstrates widespread trust and adoption within the cryptocurrency community, enhancing its credibility and network strength.
Security Methods: PancakeSwap employs rigorous security protocols including smart contract audits and secure asset management practices, ensuring user funds are protected against unauthorized access and fraud.
Trading Volume and Liquidity: High trading volumes and liquidity indicate a healthy trading environment, reducing slippage and providing better price stability for users engaging in transactions.
Reputation and Reviews: Positive feedback and strong reviews from the crypto community underline its reliability and effectiveness as a decentralized exchange, reinforcing trust among current and potential users.

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Product selection

Native token

Yes, the native token is 1INCH.

Yes, the native token is CAKE.

Earns

Yes, 1inch offers EARNs through liquidity mining, staking 1INCH tokens for rewards, and participating in governance.

Yes, PancakeSwap offers various EARN methods including staking CAKE tokens, yield farming, and participating in Syrup Pools for additional token rewards.

NFT marketplace

No, 1inch does not have an NFT marketplace.

Yes, PancakeSwap has an NFT marketplace where users can trade NFTs and participate in NFT-related activities.

Cripto/debit card

No, 1inch does not offer a debit card.

No, PancakeSwap does not offer a debit card.

Full name

1inch Limited

PancakeSwap

Regulation

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

No, PancakeSwap 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, PancakeSwap 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, PancakeSwap 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, PancakeSwap does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

1inch exchange	FEATURES	Pancakeswap
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	The minimum trade amount is quite low, allowing users to make small transactions, which is ideal for new traders starting with limited capital.
Offers competitive fees by aggregating different DEXs to minimize slippage and transaction costs, making it cost-effective.	Trading and Transaction Fees	PancakeSwap offers competitively low trading and transaction fees due to its operation on the Binance Smart Chain, which generally has lower costs than Ethereum.
Supports a vast array of cryptocurrencies by connecting with multiple DEXs, providing access to a wide variety of tokens.	Number of Cryptocurrencies	While offering a variety of BEP-20 tokens, its selection is less diverse compared to multi-chain DEXs, limiting exposure to a broader range of assets.
Extensive range of trading pairs available due to its aggregator model, allowing users to trade across different liquidity pools.	Crypto-to-Crypto Trading Pairs	Provides a solid range of crypto-to-crypto trading pairs, primarily focused on tokens within the Binance Smart Chain ecosystem.
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	The website provides essential information; however, the anonymity of the founders and specifics about operational strategies could be better detailed.
Supports multiple networks including Ethereum, Binance Smart Chain, Polygon, among others, enhancing its accessibility and utility.	Credit/Debit Card	PancakeSwap is limited to the Binance Smart Chain, restricting access to other popular networks like Ethereum, which may alienate some users.
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 DEX, it does not offer custody services, relying on users to manage their wallets and keys, which can be a double-edged sword regarding security and ease of use.
Offers governance token staking with voting rights and potential rewards, although the specifics and profitability can vary.	Staking and Rewards	Offers excellent staking and reward options, including high-yield farming and pools, making it attractive for users looking to earn passive income.
The website is well-designed with comprehensive details on operations and services, though it can be complex for beginners.	Mobile App and Desktop	The PancakeSwap website is user-friendly with a playful design, making navigation easy and trading enjoyable, though it could include more educational resources.
Customer support is available, but responses can be slow during high traffic times. More resources for immediate support are needed.	Customer Service	Customer service is primarily community-driven, accessible through social media and forums, which can vary in responsiveness and professionalism.
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 executed directly through user-controlled wallets, offering high autonomy but requiring some technical knowledge for new users.

Key features

Analysis tools

Price aggregator, liquidity sources comparison, slippage protection, gas cost estimator, advanced order types, and historical data analysis.

Price charts, liquidity pool analytics, yield farming calculators, and basic token statistics.

Mobile APP

Yes, 1inch has a mobile app available for both iOS and Android.

No, PancakeSwap 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.

PancakeSwap relies on Binance Smart Chain’s security infrastructure and has undergone several audits by reputable firms. The platform also uses community governance to enhance security and trustworthiness.

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.

PancakeSwap includes features such as lottery tickets, prediction markets, and IFOs (Initial Farm Offerings) for new projects, along with a robust community governance model using the CAKE token.

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, PancakeSwap supports anonymous trading through wallet connections on the Binance Smart Chain.

Key points

Available cryptocurrencies

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

Binance Coin (BNB), PancakeSwap (CAKE), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and a wide range of 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.

PancakeSwap is beginner-friendly, offering a simple interface and a wide range of functionalities, including liquidity pools and farming. The gamified elements and the large community support make it welcoming for new users, though its many features might initially seem overwhelming.

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.

PancakeSwap provides great value with its low fees on the Binance Smart Chain and opportunities for earning through staking and yield farming. Its extensive range of features and community incentives make it a cost-effective choice for DeFi users.

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.

Suitable for a wide range of users, from beginners to experienced DeFi enthusiasts. Its low transaction costs, diverse earning opportunities through staking and farming, and user-friendly interface make it a versatile platform for all types of investors.

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.

PancakeSwap is one of the leading DEXes on the Binance Smart Chain, known for its high liquidity and wide range of supported tokens. It offers features like yield farming and lottery, attracting a broad user base. Nevertheless, it still faces competition from Ethereum-based DEXes regarding token availability and security.

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.

PancakeSwap facilitates deposits and withdrawals through Binance Smart Chain-compatible wallets like MetaMask, Trust Wallet, and Binance Chain Wallet. The low transaction fees on BSC make it cost-effective for users. The process is straightforward, but users must manage their private keys and ensure their wallets are secure.

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.

PancakeSwap operates on the Binance Smart Chain and allows users to trade by connecting wallets such as MetaMask, Trust Wallet, or Binance Chain Wallet. No account registration is needed, facilitating quick access. Users need to handle their own wallet security and ensure they have BNB for transaction fees.

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.

PancakeSwap’s customer service relies on its active community support via Telegram, Twitter, and other social media platforms. The platform also provides extensive documentation and FAQs. While the community is generally helpful, users seeking direct and immediate support may find this model insufficient.

Security

Which of these exchanges is for you?

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 Tarrasó

As an expert on our website, I highly recommend PancakeSwap for those venturing into the world of decentralized finance. Its user-friendly interface, coupled with low transaction fees and robust reward systems, makes it an excellent choice for both beginners and seasoned traders. However, be mindful of its limitations to the Binance Smart Chain and prepare to manage your own security through secure wallet practices.

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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.

More comparatives 1inch exchange and Pancakeswap

Comparison of 1inch exchange vs Pancakeswap [ 2024 ]

Comparison of 1inch exchange vs Pancakeswap [ 2024 ]

1inch exchange

Pancakeswap

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

1inch exchange

Pancakeswap

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives 1inch exchange and Pancakeswap

Comparison of 1inch exchange vs Pancakeswap [ 2024 ]