Comparison of Pancakeswap vs Trader Joe [ 2024 ]

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

Your expert: Alejandro Borja

pancakeswap

Pancakeswap

  • Threenvest valuation: 4,4/5
  • Network: BSC
  • Security: High 4,9/5
  • Earns: Yes
Go exchange

Your expert: Xavier Tarrasó

trader joe

Trader Joe

  • Threenvest valuation: 4,3/5
  • Network: Avalanche
  • Security: High 4,7/5
  • Earns: Yes
Go exchange

Main points

Fees

0,25%
NFTs
Yes

Native token

Token CAKE
0,30%

Fees

Yes
NFTs
Token JOE
Native token

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.2 – Low fees on the Binance Smart Chain, affordable for most users, but some yield farming activities may incur higher costs.
4.4 – Low fees on the Avalanche network, making it a cost-effective option for users.

Level

0,25%
0,30%

Brief explanation

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​​.
Trader Joe, a decentralized exchange on the Avalanche network, offers a competitive and transparent fee structure for its users. The platform charges a flat 0.3% fee on all trades, which is distributed as follows: 0.25% goes to liquidity providers, and 0.05% is allocated to JOE token farms. This structure incentivizes both liquidity provision and staking, ensuring that users who contribute to the ecosystem are rewarded. Additionally, users benefit from the low transaction costs inherent to the Avalanche network, typically ranging from 1 to 5 cents per transaction, significantly lower than Ethereum-based exchanges​​.

Pancakeswap

pancakeswap
Read pancakeswap review
  • 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.
  • Pros
  • User-friendly interface.
  • Low transaction fees.
  • Fast transaction processing.
  • Cons
  • Limited to Binance Smart Chain.
  • Higher risk of phishing scams.

Trader Joe

trader joe
Read trader joe review
  • Year Founded: Trader Joe was established in 2021, providing a fresh and innovative approach to the decentralized finance space, which shows its commitment to staying current with blockchain technology and trends.
  • Security Methods: Trader Joe prioritizes user security with features such as two-factor authentication and a non-custodial wallet setup, which ensures that users have full control over their tokens without the risk of exchange hacks.
  • Trading Volume and Liquidity: The exchange boasts a high trading volume and liquidity, making it easier for users to enter and exit positions without significant price slippage, which is a strong indicator of a healthy and active marketplace.
  • Reputation and Reviews: Trader Joe has quickly established a good reputation within the decentralized finance community, appreciated for its user-friendly interface and reliable performance, fostering a loyal user base.
  • Customer Service: Despite its relative newness, Trader Joe has demonstrated a strong commitment to customer support, offering responsive and helpful service, which is crucial for users navigating decentralized and complex trading environments.
  • Pros
  • Integrated DeFi services on one platform.
  • Lower fees, faster transactions.
  • Supports yield farming and staking.
  • Cons
  • Steep learning curve for beginners
  • Limited to Avalanche blockchain.

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Product selection

Native token

Yes, the native token is CAKE.
Yes, the native token is JOE.

Earns

Yes, PancakeSwap offers various EARN methods including staking CAKE tokens, yield farming, and participating in Syrup Pools for additional token rewards.
Yes, Trader Joe offers EARN methods such as staking JOE tokens, yield farming, and lending/borrowing through Banker Joe.

NFT marketplace

Yes, PancakeSwap has an NFT marketplace where users can trade NFTs and participate in NFT-related activities.
No, Trader Joe does not have an NFT marketplace.

Cripto/debit card

No, PancakeSwap does not offer a debit card.
No, Trader Joe does not offer a debit card.

Company information

Full name

PancakeSwap
Trader Joe

Regulation

No, PancakeSwap is not regulated by any specific financial regulatory authority.
No, Trader Joe is not regulated by any specific financial regulatory authority.

Year founded

2020
2021

Founder

The founding team remains anonymous, typical of many decentralized projects on the Binance Smart Chain.
0xMurloc and Cryptofish

Payment methods

Transfers

Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

No, PancakeSwap does not support direct deposits via Mastercard. It only allows transactions through wallet connections.
No, Trader Joe does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

No, PancakeSwap does not support direct deposits via wire transfer. It only allows transactions through wallet connections.
No, Trader Joe does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

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

Comparative table

Pancakeswap FEATURES Trader Joe
The minimum trade amount is quite low, allowing users to make small transactions, which is ideal for new traders starting with limited capital.
Minimum Trade
The platform has a moderate minimum trade requirement, which can be a barrier for micro-traders but is manageable for most users.
PancakeSwap offers competitively low trading and transaction fees due to its operation on the Binance Smart Chain, which generally has lower costs than Ethereum.
Trading and Transaction Fees
Fees are competitive with industry standards, making it a cost-effective option for frequent trading.
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.
Number of Cryptocurrencies
Trader Joe offers a vast array of cryptocurrencies, catering to diverse trading preferences and strategies.
Provides a solid range of crypto-to-crypto trading pairs, primarily focused on tokens within the Binance Smart Chain ecosystem.
Crypto-to-Crypto Trading Pairs
A wide variety of trading pairs are available, though it may lack some less common pairs found on larger exchanges.
The website provides essential information; however, the anonymity of the founders and specifics about operational strategies could be better detailed.
Website Transparency
The website provides essential information; however, it could improve in disclosing all operational and financial policies more clearly.
PancakeSwap is limited to the Binance Smart Chain, restricting access to other popular networks like Ethereum, which may alienate some users.
Credit/Debit Card
Supports multiple networks, enhancing its functionality and user flexibility in transactions.
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.
Storage Offering
Provides secure storage options, though it may not offer as many features as specialized wallet services.
Offers excellent staking and reward options, including high-yield farming and pools, making it attractive for users looking to earn passive income.
Staking and Rewards
Offers competitive staking options and rewards, although not the highest in the market.
The PancakeSwap website is user-friendly with a playful design, making navigation easy and trading enjoyable, though it could include more educational resources.
Mobile App and Desktop
Trader Joe’s website is straightforward and functional, with a user-centric interface that emphasizes ease of navigation and access to trading tools.
Customer service is primarily community-driven, accessible through social media and forums, which can vary in responsiveness and professionalism.
Customer Service
Customer support is available but can be inconsistent. The platform provides basic support through FAQs and community forums rather than direct contact options.
Deposits and withdrawals are executed directly through user-controlled wallets, offering high autonomy but requiring some technical knowledge for new users.
Deposit and Withdraw
Deposits and withdrawals are processed directly through the blockchain, offering users control over their transactions with network-dependent speeds and fees.

Key features

Analysis tools

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

Mobile APP

No, PancakeSwap does not have a dedicated mobile app, but it can be accessed via mobile browsers.
No, Trader Joe does not have a dedicated mobile app, but it can be accessed via mobile browsers.

Security

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.
Trader Joe leverages the Avalanche network’s security features, which include fast and secure transactions. The platform is audited and continuously monitored to ensure the safety of user funds and data.

Additional features

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.
Trader Joe features lending and borrowing through Banker Joe, decentralized leverage trading, a launchpad for new projects, and its native token, JOE, which can be staked for governance and rewards.

Anonymity

Yes, PancakeSwap supports anonymous trading through wallet connections on the Binance Smart Chain.
Yes, Trader Joe allows users to trade anonymously by connecting their wallets, without personal identification requirements.

Key points

Available cryptocurrencies

Binance Coin (BNB), PancakeSwap (CAKE), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and a wide range of BEP-20 tokens.
Avalanche (AVAX), Trader Joe (JOE), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and numerous Avalanche-based tokens.

User-friendliness

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.
Trader Joe combines ease of use with a comprehensive set of DeFi tools. The platform is designed to be accessible for beginners while still offering advanced features for more experienced traders. Its intuitive design makes it a good starting point for new users.

Value for money

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.
Trader Joe combines low fees on the Avalanche network with a wide range of DeFi services, including staking and lending, providing significant value for money. Its comprehensive offerings and community rewards enhance its cost-effectiveness.

Countries of operation

Available globally, primarily used in regions supporting Binance Smart Chain.
Available globally, primarily used in regions supporting Avalanche.

Best for

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.
Suited for users who are looking to take advantage of a comprehensive DeFi ecosystem on the Avalanche network. Its wide range of services, from trading to lending and staking, appeals to both new and seasoned investors.

Account

Trading

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.
Trader Joe is a popular DEX on the Avalanche network, offering fast and cost-effective transactions. It has a comprehensive set of DeFi tools, including staking and lending. While it is great for Avalanche network users, it is less known outside this ecosystem, affecting its overall liquidity.

Deposit and withdrawal

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.
Trader Joe on the Avalanche network supports deposits and withdrawals through Avalanche-compatible wallets like MetaMask and Avalanche Wallet. The network’s low fees and fast transactions make the process efficient. However, users need to manage their wallets and private keys, ensuring security and proper handling of transaction fees.

Account opening process

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.
Trader Joe on the Avalanche network requires users to connect Avalanche-compatible wallets such as MetaMask or Avalanche Wallet to start trading. The setup is quick and does not involve creating an account, making it user-friendly. However, users need to manage their wallet security and transaction fees independently.

KYC required?

No, KYC is not mandatory for using the platform.
No, KYC is not mandatory for using the platform.

Customer Service

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.
Trader Joe on the Avalanche network offers support primarily through community channels like Discord and Twitter, as well as a help center with extensive documentation. While the community is active and supportive, users needing direct customer service might find the available support options limited.

Security

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.
Trader Joe leverages the Avalanche network’s security features, which include fast and secure transactions. The platform is audited and continuously monitored to ensure the safety of user funds and data.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a seasoned expert on our website, I highly recommend exploring Trader Joe as a decentralized crypto exchange. Its integration on the Avalanche blockchain ensures a seamless trading experience, which is pivotal for those interested in the burgeoning DeFi space. Additionally, Trader Joe distinguishes itself with its dual functionalities as both an exchange and an automated market maker. This unique combination offers users fluid liquidity options and trading pairs that are responsive to the market’s dynamic needs. Whether you’re looking to dive into decentralized finance or seeking a platform that offers robust trading capabilities, Trader Joe is a noteworthy option to consider.

View all comparisons against pancakeswap

View all comparisons against trader joe

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 Pancakeswap vs Trader Joe [ 2024 ]

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