SushiSwap Crypto Exchange Review: Is It Still Worth Using in 2025?

When you think of decentralized exchanges, Uniswap usually comes to mind first. But if you’ve been in crypto for more than a few months, you’ve probably heard of SushiSwap. Launched in August 2020 as a fork of Uniswap, it didn’t start with a clean slate. It stole liquidity, sparked outrage, and nearly collapsed before rebuilding itself into one of the most active DeFi platforms today. Now, in late 2025, SushiSwap isn’t just surviving-it’s evolving. But is it still the right choice for trading or earning yield? Let’s break it down.

What Is SushiSwap, Really?

SushiSwap is a decentralized exchange (DEX) built on automated market making (AMM). That means no order books, no middlemen. You trade directly from your wallet using smart contracts. It started as a copy of Uniswap, but quickly added features Uniswap didn’t have: staking rewards, governance voting, and cross-chain support. Today, it runs on Ethereum, Polygon, Binance Smart Chain, Avalanche, Fantom, Arbitrum, and xDAI. That’s seven blockchains. Most DEXs stick to one. SushiSwap doesn’t.

The native token, SUSHI, isn’t just for trading. It’s your vote. Holders can propose changes to the protocol-like adjusting fees, adding new pools, or even funding development teams. Over 285 million SUSHI tokens are in circulation, and as of December 2025, the price hovers around $0.70. That’s down from its all-time high of $23.38 in 2021, but it’s also up 5.5% in the last month. The token’s value isn’t tied to price alone-it’s tied to how much power users give it through governance.

How Does SushiSwap Compare to Other DEXs?

Let’s cut through the noise. Here’s how SushiSwap stacks up against its biggest rivals:

What stands out? SushiSwap gives you more ways to earn than Uniswap. It’s cheaper than Coinbase. And unlike PancakeSwap, it’s not locked into one blockchain. But it still doesn’t have the liquidity depth of centralized exchanges. If you’re trading $100,000 in a single coin, you’ll still get better prices on Binance. But for everyday swaps, especially on Polygon or Arbitrum, SushiSwap is often the fastest and cheapest option.

How to Use SushiSwap (Step-by-Step)

You don’t need to be a coder to use it-but you do need to understand a few basics.

1. Get a wallet: Use MetaMask, Coinbase Wallet, or Trust Wallet. Make sure it supports Ethereum or one of SushiSwap’s other chains.
2. Buy ETH, MATIC, or AVAX: You need gas to pay for transactions. Buy it on a centralized exchange like Coinbase or Kraken, then send it to your wallet.
3. Connect your wallet: Go to app.sushi.com and click "Connect Wallet." Pick your wallet type.
4. Swap tokens: Select the coin you want to trade, then the one you want to receive. Confirm the trade. Watch the gas fee. If it’s too high, switch to Polygon or Arbitrum.
5. Add liquidity: If you want to earn fees, go to the "Liquidity" tab. Add equal values of two tokens (like ETH and USDC). You’ll get LP tokens and earn a cut of every trade in that pool.
6. Stake SUSHI: Go to "SushiBar" and stake your SUSHI. You’ll earn more SUSHI over time. It’s simple, low-risk, and pays well if you’re holding long-term.

Pro tip: Always check the slippage setting. If you’re trading a small-cap token, set it to 1.5% or higher. Otherwise, your trade might fail.

Pros and Cons of SushiSwap

Pros

• Multiple chains: Trade on low-fee networks like Polygon without leaving the platform.
• Strong rewards: Liquidity providers get double SUSHI rewards on key pools like SUSHI/ETH.
• Community-driven: Governance votes have real impact. Recent proposals added new fee structures and slashed token emissions.
• Low fees: On Layer 2 chains, trades cost less than $0.10.
• Active development: New tools like SushiXSwap (cross-chain swaps) and Smart Pools (dynamic liquidity) are rolling out in 2025.

Cons

• No demo mode: You can’t test trades without spending real money.
• Gas fees on Ethereum: If you’re stuck on Ethereum mainnet during a bull run, fees can hit $20+ per trade.
• Small token list: Only about 1,200 tokens listed. Binance has over 10,000.
• Learning curve: Impermanent loss, slippage, approval limits-new users get overwhelmed.
• No customer support: If something goes wrong, you’re on your own. Reddit and Discord are your only lifelines.

Who Is SushiSwap For?

SushiSwap isn’t for everyone. Here’s who it fits best:

• DeFi veterans: If you’ve used Uniswap, Aave, or Compound before, you’ll feel right at home.
• Yield farmers: The SUSHI/ETH pool still offers some of the highest APRs in DeFi-sometimes over 15%.
• Multi-chain traders: If you use Polygon for NFTs and Arbitrum for swaps, SushiSwap lets you do it all in one place.
• Governance believers: If you care about owning a piece of the protocol, not just trading it, SUSHI gives you real influence.

It’s not for beginners who just want to buy Bitcoin and hold. It’s not for people who need live chat support. And it’s not for those who want the biggest selection of tokens. But if you want control, rewards, and flexibility? It’s one of the best tools in DeFi.

What’s Next for SushiSwap?

In 2025, SushiSwap isn’t resting. The team is pushing three big initiatives:

• SushiXSwap: Lets you trade across chains without wrapping tokens. Swap ETH on Ethereum for SOL on Solana in one click.
• Smart Pools: Liquidity pools that auto-adjust based on market conditions. If a token’s price drops, the pool reduces exposure to limit losses.
• Tokenomics overhaul: A recent vote cut daily SUSHI emissions by 60%. That means less inflation, more scarcity.

Analysts are split. Coinpedia predicts SUSHI could hit $2.85 by end of 2025 if adoption grows. Others warn that with Uniswap V4 launching and new DEXs like KyberSwap gaining traction, competition is fiercer than ever. But one thing’s clear: SushiSwap’s community is still the strongest in DeFi. When things go wrong, people show up to fix them-not to panic.

Final Verdict

SushiSwap isn’t perfect. It’s messy. It’s had scandals. It’s not the biggest. But it’s one of the few DEXs that actually listens to its users. The rewards are real. The cross-chain support is unmatched. And the governance model is alive.

If you’re trading crypto regularly and want to earn more than just price gains, SushiSwap deserves a spot in your toolkit. Use it on Polygon or Arbitrum to avoid high fees. Stake your SUSHI. Vote on proposals. And don’t just trade-participate.

It’s not a bank. It’s not a stock exchange. It’s a community-owned marketplace. And in 2025, that’s still rare.

Next Steps

Try this: Connect your wallet to SushiSwap on Polygon. Swap $50 of USDC for DAI. Stake 10 SUSHI in SushiBar. Vote on the next governance proposal. That’s it. You’re not just using a DEX-you’re helping shape it.

Don’t wait for the perfect time. The best time to join DeFi was years ago. The second-best time is now.