SushiSwap is a DeFi cryptocurrency exchange launched in 2020. Through the Ethereum blockchain, SushiSwap has generated over $2.5 billion in trading volume through it's AMM framework. Traders can swap tokens, as well as create liquidity via yield farming.
Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.
Pros
Liquidity providers receive large rewards for their contributions - the SUSHI/ETH pool pays out double rewards
Some of the largest centralised exchanges in the world added the platform’s token, Sushi, days after it went live
Accessible fiat-to-crypto deposits including bank transfer and Apple Pay, plus 6 supported crypto wallets
Trading fees are more affordable than centralised exchanges such as Coinbase
The platform has received strong endorsements from multiple DeFi projects
Sushi Academy with learning materials for beginners and technical users
Crypto farming available with over 500 token pools to choose from
Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
Nexo Pro is a user-friendly proprietary platform that suits trading strategies with great charting features
Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
Cons
SushiSwap wasn’t independently audited before its release
Not as many tokens as other crypto exchanges
No regulation bringing security concerns
No demo account to test the firm
Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
High maker/taker fees mean traders will pay more to trade derivatives than they would at rival exchanges like Binance
The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
Awards
Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
SushiSwap offers over 400 tokens to swap, with a good range of fiat and crypto deposits. With that said, this exchange is unregulated and funds may not be secure when compared to reputable crypto brokers.
Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans.
