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Third-party swaps platforms

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While MetaMask has its own built-in Swaps tool, there's a whole ecosystem out there of third-party token swapping platforms.

This article points out some frequent issues that users have when swapping tokens, and serves as a non-definitive directory to third-party swapping platforms.

MetaMask is not affiliated with any of these organizations. :::

Keep in mind that some popular exchanges are not companies in the traditional sense, and may not offer official customer support. Exercise extreme caution if you are engaging with a product through a channel such as Discord or Twitter.

Most importantly: NEVER GIVE ANYONE YOUR SECRET RECOVERY PHRASE.

Third-Party Swap Platforms

  • Uniswap
  • Binance
  • 1inch
  • SushiSwap
  • PancakeSwap
  • Gate.io
  • Crypto.com
  • Kucoin
  • Kraken
  • Huobi
  • Bybit
  • Okex
  • WhiteBit
  • Bitpanda
  • Hotbit
  • Airswap

DEXs vs CEXs

Decentralized Exchanges, or DEXs, are closer to something like a public service than a business. The question of "how decentralized" they are is a subject of debate, but the core reality is: a DEX is an open software project, whose code lives "in the open" on the blockchain, and with which users can interact in a dependable way, based on how the protocol is programmed. Examples of DEXs include Uniswap, Quickswap and SushiSwap, amongst many, many others.

A Centralized Exchange, on the other hand, is something more akin to an investment bank. A CEX often serves as a "fiat onramp/offramp", integrating with a nationally-issued fiat currency, and allowing users to interact with cryptocurrencies in a more traditional, bank-like environment. CEXs often report users' account and balance information to tax authorities, whereas while interacting with a DEX, this may be left to the responsibility of the user; for more information on tax responsibility, see here.

Price Impact

Price impact is a phenomenon often experienced by users participating in DeFi. For more details, see here.

Impermanent Loss

Impermanent loss is another commonly-experienced phenomenon, especially when participating in liquidity pools. For an in-depth explanation, see our article or watch this Finematics video.