Trader Joe Review 2023

Trader Joe is a popular decentralized exchange created by CryptoFish in 2021.

It runs on 2 different chains including Arbitrum, Avalanche.

Trader Joe offers features such as nfts, liquidity mining, lending, nft marketplace, yield farming, spot trading and more.

We rated Trader Joe 4.5/5, based on it's features, security, and future prospects.

Trader Joe Features

NFTs

This DEX sells NFTs that you can buy and collect. They're great for profile pictures, and in some cases could be used for staking. Though this depends on the DEX.

Liquidity Mining

Trader Joe 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 Trader Joe.

Lending

Supports decentralized lending. You add collateral and get crypto to play around with. Provided your collateral doesn't fall below a given price, you get to continue trading. Beware, you can lose your initial collateral if you're not careful. If you're a newbie, it's recommended that you stay away from this feature.

NFT Marketplace

NFT Marketplace. Hosts an NFT marketplace where you can buy/sell/auction NFTs. Find collectibles and utility NFTs that you can flip or add to your collection.

Yield Farming

Hosts incentivised yield farms. You can earn boosted rewards from staked LP tokens. This is a great way to earn more crypto. Projects put up tokens for you to earn, often for marketing efforts.

Spot Trading

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

Trader Joe Fees

Trading Fees

All DEXs charge trading fees. Trader Joe is no different.

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

Withdrawal Fees

Trader Joe 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 Trader Joe?

Get a crypto wallet that supports web3 on one Trader Joe's of supported chains.
Deposit crypto into the wallet, ensuring you have tokens for gas
Navigate to Trader Joe'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 JOE ?

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

Is Trader Joe safe?

Yes, Trader Joe 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.