Home Crypto Exchanges Making Money with Pancakeswap Uniswap Sushiswap through Decentralized Exchanges

Making Money with Pancakeswap Uniswap Sushiswap through Decentralized Exchanges

Pancakeswap

Those who are willing to park their crypto in a Defi Exchange would probably want to think through Pancakeswap, Uniswap, Sushiswap, and more. Making money from DeFi projects and Dex exchanges is a growing interest among investors. Obviously, you can make a return on investment or a trading in cryptocurrency. There are ways in which it is possible for users to earn money on the crypto market through decentralized exchanges.

Before getting in to it, investors need to know how to earn on tokens and what do to with them. All of these decentralized exchanges are based on the Bitcoin principle of “only you control your funds” and the transactions are made without intermediaries. Decentralized trading platforms work the same way. They have no CEO, no top managers, no employees, no office, and no cryptocurrency vault like Coinbase, Binance and other Centralized exchanges. They just do not need it because decentralized exchange is a smart contract running on Ethereum, TRON, Binance Smart Chain Etc.

The user does not have to transfer the cryptocurrency to the exchange, but trades directly from their wallet. So, the investor funds are always safe for as long as the wallet is. While the developers of the wallet do not act as the management, they just create the initial code and work on improving it.

For their work in coding, they might get a reward in project tokens or a part of commission fees. This data is always available to the users. And, if you decide you do not want to work with them, you can just leave for a better trading platform. Protocols for decentralized trading platforms were designed a long time ago.

Bancor was around in 2017; however, such platforms are getting famous only in 2020.

Pancakeswap (BEP-20), Uniswap, and Sushiswap are all leading in the market of decentralized exchanges. When it comes to DEX it is very important to remember the rule, not your keys, not your Bitcoin. Users who store their tokens in the wallets will not lose their deposit if the exchange stops working. However, every transaction made in the exchange comes with a fee as the transactions happen through the exchanges. Investors like to use platforms without enormous fees. Pancakeswap and Binance Smart Chain are reportedly of less fees.

Uniswap (ERC-20) requires that you come with the cryptocurrency that you have already bought before. The price can sometimes skyrocket and you have to just get the profit which can be 10, 20, or even 100 times.

Decentralized exchanges do not ask for too much of personal information.  Users need to just connect the crypto wallet and make deals.

Read more about:
Share on

James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×