With all of the different coin offerings out there to choose from, it can be confusing to make one apart from the other. Some of them even kind of have jokey names, which can make it difficult for buyers to know if they are getting a legitimate product.
This brings us to PooCoin vs. PancakeSwap. Despite their names, they are both very legitimate decentralized apps that run on the popular Binance blockchain. Both allow their users to swap out tokens, though, in the case of PancakeSwap, it would be BEP20 tokens instead. Let’s take a closer look at the two and find out where they are similar and totally different.
Why PooCoin is Different?
Let’s start with PooCoin. This is a token that is available through the Binance Smart Chain – which is one of the most well-known markets out there. PooCoin is also a native coin for the individual PooCoin app. The app itself presents a portfolio managing and chart for the BSC, while trying to change some of the other DEXs. It is that which makes PooCoin not only different from PancakeSwap, but the other Dapps (decentralized apps) on the market.
Users who have at least $2,000 of PooCoin are able to unlock what is known as the “final level.” When users reach this level, they are able to see trending tokens and websites on a plethora of timescales as well as enter into the top 100 list of popular tokens.
Users who hold at least $300 of PooCoin are able to display their trades simply while also enabling the “transaction” tab of their wallet. The final reward for coin holders, which is for those holding at least $100 worth of PooCoin, is the ability to remove ads and even track other traders’ wallets.
The cool thing in the PooCoin vs. PancakeSwap debate is that PooCoin has an exchange option that allows users to swap out their tokens directly through the app. There are outside tools pages available that show all of the other tools that the BSC has available, all for use in one place.
There is also a developer wallet inspector, a tool which checks for any unusual behaviors on the developer side. These things can include developer dumps, rugs, and slow rugs. The app also allows users to check to verify the honesty of a given token. The feature, known as sniper watcher, allows users to track the bots that may kill token launches.
Finally, PooCoin allows users to see things like entry points when it comes to trading directly inline through their chart. The feature also allows for tracking the advancement of a trade as well while also presenting yield farm trackings through BSC.
What PancakeSwap Brings to the Table?
In comparison to PooCoin, PancakeSwap is actually a decentralized exchange. It allows users to swap out their BEP-20 tokens in a safe and secure manner. Perhaps the most unique thing about PancakeSwap is that it has some of the fastest confirmation times and lowest transaction fees among exchanges that you will find.
Right now, it is perhaps the most well-known Dapp being offered through the Binance Smart Chain. To prove how serious it is, it has more than $4.7 trillion in total liquidity, offering nearly unlimited potential in terms of profits.
Another major difference between it and PooCoin is that users can buy the token, then trade it out for other cryptocurrencies that are held within the platform. PancakeSwap also works to generate interest for its users. This allows them to join in on the yield farm, which helps users to earn even more CAKE on their LP tokens.
It is worth noting that PancakeSwap also offers online wallets like MetaMask, WalletConnect, and TrustWallet. Each of these wallets gives users the ability to interact with each of their smart contracts effortlessly. It also makes swapping out pancakes simple as well.
Finally, there are the Syrup tools (because of the pancakes, get it?). These tools are simple staking functions that allow users to stake several of their BEP-20 tokens to earn the aforementioned CAKE.
Trading and Swapping Token on PooCoin and PancakeSwap Through MetaMask or TrustWallet
It is important to note that, for a coin to be listed on a major centralized exchange (like Binance), it has to meet specific criteria. That is because a coin listed on the Binance exchange will gain more exposure than most of the others out there.
Buying PooCoin tokens can be done through exchanges like Binance or the others out there. When a new coin drops, it can be found on decentralized apps like PancakeSwap. Knowing which network the coin belongs to is important, since these networks have different cryptos that are used to buy coins within each of those networks.
The thing about PancakeSwap is that you can find just about any new coin through their decentralized exchange. Since it is available through MetaMask and TrustWallet, that makes it easier to get those new coins. Perhaps best of all, there are lower transaction fees that result in fewer errors and difficulties in purchasing those new coins.
It can seem complicated, especially with users new to the world of cryptocurrency. As there are more coins offered, there will be more offerings available through PancakeSwap. After you have made your first purchase, you are one step closer to becoming an expert on using the decentralized exchange.
Knowing the difference between all of the cryptocurrency offerings out there requires time and effort. There are a number of offerings out there that might sound a bit jokey, but they are definitely legitimate offerings.
Knowing what PancakeSwap and PooCoin have to offer is an example of that. Both are legitimate offerings that allow users to take part in some unique features within the cryptocurrency world.