Pangolin Decentralized Crypto Exchange Review

Pangolin Decentralized Crypto Exchange

Pangolin claims to offer fast settlements with low transaction fees and the ability to earn up to 2175%. It runs on Avalanche, providing a community-focused token distribution model. Traders can connect with the exchange using their Coinbase, Metamask, and Walletconnect wallets. We will break down all the features offered by the company in our review to see if the services can be profitable for our trading.

Pangolin Decentralized Crypto Exchange

Full Pangolin review

Pangolin offers the following benefits for traders:

  • Community drives decentralized exchange
  • Low transaction fees
  • A high liquidity 
  • Multiple instruments available to trade
  • Present on multiple social media platforms
  • It supports the following cryptocurrencies PNG Pangolin, WAVAX Wrapped AVAX, WETH.e Wrapped Ether, USDT.e Tether  USD, QI BENQ, DAI.e Dai Stablecoin, USDC.e U SD Coin, FRAX Frax ROCO ROCO, PEFI PenguinToken, XAVA Avalaunch, YAK Yak Token, WBTC.e Wrapped BTC, LINK.e Chainlink Token  and PEFI PenguinToken
  • The platform is available for traders from all countries
  • It uses Avalanche wallet for storing AVAX
  • Features a native governance token called PNG.

How does Pangolin work

To get started with Pangolin traders have to follow the following steps:

  1. Create an Avalanche wallet by clicking on the new wallet at the link
  2. Get AVAX from one of the available exchanges on CoinMarketCap
  3. Send AVAX to your Avalanche wallet and proceed forward to create Metamask, which can be downloaded from the website
  4. Create or import a current wallet and connect Metamask to Avalanche and fund it
  5. Confirm the transactions to start using Avalanche

Traders can fund their Metamask by using the cross-chain option and then selecting the C chain. The source chain must be set as a C contract.

Pangolin offers all the following services for traders:

  • Liquidity mining allocation
  • Community driven governance token
  • PNG governance
  • Staking PNG
  • Swapping tokens
  • Creating or removing liquidity pools

What can you buy on Pangolin?

Traders can use the tokens on Pangolin to swap for other tokens or add volume to the pools on the platform. The swap function will allow you to exchange the tokens where you can set the slippage and transaction timeouts. 

PNG tokens can also be put at stake for claiming rewards. It is also possible to revert your decision and unstake the tokens.

Fees overview

With each swap on Pangolin, traders have to pay a 0.3% swap fee. The exchange refers to it as a liquidity fee that has to be given to the liquidity provider.

Coins supported

The following coins are supported on the exchange:

  • PNG Pangolin 
  • WAVAX Wrapped AVAX 
  • WETH.e Wrapped Ether 
  • USDT.e Tether USD 
  • DAI.e Dai Stablecoin 
  • USDC.e USD Coin 
  • FRAX Frax 
  • PEFI PenguinToken 
  • XAVA Avalaunch 
  • YAK Yak Token 
  • WBTC.e Wrapped BTC 
  • LINK.e Chainlink Token 
  • PEFI PenguinToken

Is Pangolin safe?

As Pangolin takes its place amongst other decentralized exchanges, it is impossible to regard it as completely safe. Such platforms do not come under government regulation and can be subjected to continuous hacks resulting in the loss of money.

Is Pangolin free?

Pangolin is not a free exchange. There is a 0.3% swap that is paid to the liquidity providers. 

Additional details

The company has a total of 2.8 rating for six reviews present on TrustPilot. A trader says that he performed a transaction on the exchange for 500 AVAX but could not see it in the Metamask after 5 hours. 

Customer review on TrustPilot.

Supported operating systems

Pangolin is available for Windows, Linux OSX, and the Web. It is currently not available on Android and iPhone.

What countries does Pangolin support buying and selling in?

As the Pangolin exchange is decentralized, traders worldwide can access it using the appropriate tokens. US investors can also invest using the platform.

The downsides of using Pangolin

Pangolin exchange has the following limits for traders:

  • User interface

The user interface of the exchange is slightly poor where the beginner traders can face some difficulties in understanding. Only after having proper trading knowledge can an investor reap the full benefits.

  • Fees

Decentralized exchanges normally do not charge any trading fee. However, this is not the case with Pangolin, where traders pay 0.3% liquidity costs.

What could be improved?

The exchange could provide users with more educational material on how their platform works. Investors new to cryptocurrency may face many difficulties that might be removed with proper guidance. 

The upsides of using Pangolin

The exchange has the following advantages for traders:

  • Restrictions

As mentioned before, traders from all over the world can come and sign up with the exchange. There are no restrictions on any nationality.

  • Volume

The trading volume in the exchange is high, which allows investors to get easy fills on their executions. The exchange is community-driven, following all the basic needs of the investors.

Pangolin fees, compatible wallets, and transactions

Pangolin charges a 0.3% swap fee that is paid to the liquidity providers. Coinbase, Metamask, and Walletconnect wallets are supported with the decentralized exchange. Traders can conclude their transactions on the supported coins that include PNG tokens, XAVA, ROCO and USDT.

What are the ways to trade on Pandolin?

Traders can swap tokens on Pangolin and stake PNGs. Traders can also change their mind and revert their tokens if needed. It is possible to add liquidity to the current pools or create your own pool. Limit orders can be set up using appropriate tokens such as AVAX and APEIN.

Customer support

There is no live customer support available for traders. To get a response from the developers’ traders will have to wait a full day.

Should you trade with Pangolin?

While Pangolin offers many benefits for traders, it is essential not to forget that there is a slight risk of losing your funds as the exchange is decentralized. It is vital not to invest all of your cash in a single platform. 

Pangolin summary

Pangolin summary
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Pangolin is better suited for traders that trade cryptocurrencies casually and have a good understanding of how these markets operate. Investors with no experience should learn before proceeding to invest with the exchange. The trading costs associated with the platform can be high for some.
Pangolin is better suited for traders that trade cryptocurrencies casually and have a good understanding of how these markets operate. Investors with no experience should learn before proceeding to invest with the exchange. The trading costs associated with the platform can be high for some.


  • Multiple coins available
  • Available worldwide


  • Poor user interface
  • 0.3% liquidity costs
  • Not available on Android and iOS
  • No live customer support
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