Balancer Review 2023

Balancer is a popular decentralized exchange created by Fernando Martinelli in 2020.

It runs on 3 different chains including Ethereum, Polygon, Arbitrum.

Balancer offers features such as liquidity mining, spot trading and more.

We rated Balancer 5/5, based on it's features, security, and future prospects.

Balancer Features

Liquidity Mining

Balancer allows you to earn passive income by providing liquidity. You're given LP tokens in return, which are interest bearing. The interest comes from trading fees generated by Balancer.

Spot Trading

This means you can buy and sell the real thing. Actual crypto. Not a futures contract or derivative.

Balancer Fees

Trading Fees

All DEXs charge trading fees. Balancer is no different.

Trading fees incentivise liquidity providers to provide liquidity to Balancer. This enables people like you to freely trade between tokens without incurring too much slippage.

Withdrawal Fees

Balancer does not charge withdrawal fees.

DEXs, generally, do not require you to deposit funds onto them. Therefore there is nothing to withdraw. This is one of the many great things about dencentralized exchanges. You get to be the sole custodian of your funds.

How to use Balancer?

Get a crypto wallet that supports web3 on one Balancer's of supported chains.
Deposit crypto into the wallet, ensuring you have tokens for gas
Navigate to Balancer's homepage
Connect your wallet to the website
Goto Swap/Trade
Choose a token that you'd like to swap to
Finally, swap!

FAQ

Where can I buy BAL ?

You can by BAL direct from Balancer. It is the native token of Balancer, and they will therefore offer the most liquidity.

Is Balancer safe?

Yes, Balancer is safe to use. However, you should be aware that crypto trading carries inherent risk. dApps are vulnerable to exploits, so make sure to DYOR before investing.