Jupiter Crypto Exchange Review 2025

In This Article

Jupiter Crypto Exchange: Summary
What is Jupiter Crypto Exchange?
- How Jupiter Exchange is Connected to Solana?
- Key Features of Jupiter DEX Aggregator
How to Use Jupiter Exchange?
How Does Jupiter Compare to Other Exchanges?
- Jupiter Exchange: User Ratings & Feedback
Top Alternative to Jupiter Exchange
- Best Wallet: Top Platform to Buy, Trade & Stake Cryptos
  - Best Wallet Key Features
  - Best Wallet Pros & Cons
Conclusion: Jupiter Crypto Exchange Review
Frequently Asked Questions
- References

When Jupiter (JUP) first launched in 2021, no one expected the decentralized exchange (DEX) aggregator to become as popular as it is today. Fast forward to 2025 and Jupiter has become the most-used platform for token swaps on Solana. Despite being a Solana-only protocol, Jupiter boasts higher transaction volume than its multi-chain rivals, such as 1inch and CowSwap. This is mainly because Solana’s decentralized finance (DeFi) and memecoin ecosystems are growing rapidly. But you might ask – What is Jupiter crypto exchange? Is it even technically correct to call JUP a DEX? Well, Jupiter is not a DEX. It is a DEX aggregator that connects users to the best trading prices across DEXs on Solana.

If you are looking to invest in exotic memecoins and promising DeFi projects on Solana, you will most likely come across Jupiter at some point in your journey. So here is a beginner’s guide to give you a head start. Learn all about Jupiter, its standout features, and get to know the best alternative to the Jupiter exchange.

Jupiter Crypto Exchange: Summary

Jupiter is at the heart of Solana’s growing financial ecosystem. By providing access to deep liquidity and low fees, Jupiter is making decentralized trading more accessible and cost-effective for users worldwide. However, Jupiter doesn’t want to stop at just being a decentralized exchange aggregator. The project wants to launch a full suite of DeFi tools. So far, Jupiter has introduced trading features such as limit orders and dollar cost averaging for its token swaps. Users can also trade perpetuals contracts and buy native liquid staking tokens on Jupiter. In 2024, Jupiter launched a governance token called JUP in a bid to reach out to more people within the crypto universe. While the price of Jupiter’s governance token has not appreciated as most community members would have hoped, the token still ranks among the top 100 most valuable cryptocurrencies in the world by market cap.

Key Takeaways

Jupiter is not a DEX. It is a DEX aggregator that connects users with the best trading prices across DEXs on Solana.
Jupiter’s DEX aggregation ability is powered by a routing engine called Metis.
The protocol also has a perpetuals exchange that allows traders to open leveraged long and short positions for SOL, ETH and wBTC tokens.
Jupiter has advanced trading features such as limit orders, dollar cost averaging and value averaging.
JUP is the governance token of the Jupiter protocol which gives holders the power to vote on network proposals, launchpad projects, and grants.

What is Jupiter Crypto Exchange?

Jupiter is a protocol on the Solana blockchain that offers decentralized finance-related services such as token swaps, perpetual futures contracts, liquid staking and token launchpad – be sure to check out our list of the Best Solana Launchpads.

The protocol originally launched in October 2021 as a decentralized exchange aggregator which connected traders with over 22 Solana-based DEXs to find the best price for their trades. Jupiter analyzes liquidity pools on various DEXs such as Orca, Raydium, and Meteora to find the most profitable trading routes for you. To give users a centralized exchange-like experience, Jupiter offers TradFi (traditional finance) features like limit orders, dollar cost averaging, and value averaging. These tools can help with strategies like buying during bear markets and taking profits during bull markets. As per the the founder,

“Jupiter aims to be a full stack ecosystem play to drive the meta forward – onboarding the world into a parallel open financial system that operates independently of the locked system most of us live in today,” – Jupiter’s pseudonymous founder Meow.

Jupiter’s token swap product is designed for both beginners and experts. Crypto newcomers can simply let Jupiter select the optimal trading setting for their trade. Meanwhile, users seeking control over their trades have the liberty to adjust trading parameters such as maximum slippage percentage, priority fees, maximum extractable value (MEV) protection, single-pool use, wrapped Solana (wSOL) use and DEX exclusion.

Jupiter crypto exchange review — Source: Jupiter

Over the years, Jupiter has evolved from a single-product protocol to introduce a full range of decentralized finance services. Let’s talk about them one-by-one:

Jupiter Perpetuals Exchange: Jupiter Perpetuals Exchange allows traders to open leveraged long and short positions for SOL, Ethereum and wBTC tokens. Users can take leverage up to 100x for their trading strategies.
Jupiter Liquidity Provider Pool (JLP): Liquidity for the Jupiter Perpetuals exchange is provided by the JLP Pool which means that when traders open leveraged positions, they borrow tokens from the pool. The JLP Pool consists of five cryptocurrencies – SOL, ETH, wBTC, USDC and USDT. Anyone can deposit these tokens to the JLP Pool and earn a share of the trading fees generated by the pool.
Liquid staking: Jupiter has a liquid staking token called JupSOL that crypto investors can buy and hold to earn native staking yields on SOL.
ApePro: ApePro is a trading platform created by Jupiter to trade top Solana memecoins of 2025.
Jupiter Lock: Jupiter Lock is an open-sourced program that allows developers to lock protocol tokens and to implement cliff and vesting schedules in a transparent manner.

How Jupiter Exchange is Connected to Solana?

The Jupiter Exchange is built on top of the Solana. All transactions – token swaps, liquidity provision, liquidity staking tokens, and perpetuals trading – conducted on the platform are recorded and finalized on the Solana blockchain. Users are required to own a Solana-compatible crypto wallet to log in to the Jupiter platform.

Jupiter relies on Solana for its core functionality, using the blockchain’s liquidity pools to enable cryptocurrency trades. As we explained earlier, Jupiter is connected with the decentralized exchanges on Solana. Let’s say you want to swap USDT Stablecoins for PENGU tokens. Here is an example of how the trade will be conducted across various decentralized finance exchanges on Solana:

Depending on the best exchange rate and lowest fees, Jupiter directs your trade to an automated market maker (AMM) called Lifinity. On Lifinity, your USDT Stablecoins are converted to SOL using the USDT-SOL liquidity pool.
Next, Jupiter forwards the trade to the Raydium DEX. On Raydium, the SOL coins are converted to PENGU tokens using the SOL-PENGU liquidity pool.
Your USDT Stablecoins have been swapped for PENGU tokens. Keep in mind that if Jupiter finds a better trade route, it might use a different DeFi platform on Solana for the swap.

What is Jupiter Exchange — Source: Jupiter

While Jupiter is a popular choice for token swaps on Solana, you might also want to explore our list of the best crypto exchanges in 2025 for a wide variety of trading options.

Key Features of Jupiter DEX Aggregator

Jupiter is a feature-packed platform that consistently introduces upgrades to stay ahead of its competition. Here are some of the key features of the Jupiter Exchange:

Best Trading Conditions: Jupiter is a DEX aggregator that combines liquidity from different DEXs and AMMs onto one platform, making it easier for users to find the best trade prices.
Limit Orders: It allows traders to set instructions to buy or sell tokens at a pre-determined price.
Dollar Cost Averaging: Traders can automate the buying or selling of tokens by setting instructions to execute at fixed time intervals over a chosen period.
Value Averaging: Jupiter’s value averaging feature automates buying of tokens with the aim of reaching a specific portfolio target value. The value averaging feature adjusts to market volatility, buying more token when prices are low and purchasing less tokens when prices are high.
MEV Protect: Traders can protect themselves against sandwich attacks using the MEV Protect mode on Jupiter. Turning on MEV Protect will hide your token swaps, which will prevent trading bots from front-running your trade.
Fiat On-ramp: Jupiter is integrated with a third-party app called Onramper, making it easy to buy cryptocurrencies on Solana using fiat currencies.
Edge: Edge is a platform on Jupiter where users can try out upcoming features for token swaps and perpetuals trading and share their feedback.
Active Staking Rewards (ASR): ASR is a reward system on Jupiter that rewards those who participate in network governance with JUP tokens.
Token Launchpad: Jupiter also allows Solana-based projects to launch cryptocurrencies, raise funds, distribute tokens and deploy liquidity pools.

Routing Algorithm

Jupiter’s DEX aggregation is driven by its routing engine, Metis. When users request token swap rates, Metis analyzes exchange rates and liquidity pool health across various DEXs and AMMs on Solana to find the best trading route.

The trading routes built by Metis is not fixed though. Metis can refresh quotes in parallel and in real time. Each time a more efficient trading path is identified, the Metis routing algorithm replaces the old route with a new one. Metis can split trading routes across multiple AMMs and tokens at the same time to find better prices.

To understand how the Metis algorithm works, let’s look at how Jupiter swapped 1000 wrapped bitcoin (wBTC) tokens to Jupiter’s native cryptocurrency JUP in the screenshot displayed below. First, the 1000 wBTC tokens was converted to USDC Stablecoins. The wBTC-USDC trade was carried out by two Solana-based DEXs: Phoenix and Meteora. 40% of the wBTC tokens were converted to USDC Stablecoins on Phoenix while the remaining 60% was converted on Meteora.

The USDC Stablecoins were then diverted to two separate trading routes. 12% of the USDC Stablecoins were directly converted to JUP tokens on the ZeroFi protocol. The remaining 88% was first send to SolFi protocol to be converted to SOL. The SOL coins were finally converted to JUP tokens on the Meteora protocol. At the time of the trade, the Metis algorithm saw this trading route as the most efficient one. Metis will replace the trading route with a better alternative in real-time if the algorithm finds a more efficient path before the wBTC-JUP token swap is initiated.

Smart Contracts

Since Jupiter is built on the Solana blockchain, it uses an account-based architecture. An account is a database that stores information such as code and state. Each account on Solana is linked with an address which may belong to a crypto wallet or a smart contract.

Smart contracts on Solana are known as programs. A smart contract is a self-executing code that is deployed on a blockchain. These are designed to execute instructions, process transactions and interact with accounts.

The Jupiter Exchange owns and uses different types of smart contracts. For instance, its swap contracts facilitate token swaps by aggregating liquidity from various decentralized platforms on Solana. To complete transactions, Jupiter also interacts with multiple liquidity pool’s smart contracts on the network. Further, to provide liquid staking on Solana, Jupiter uses smart contracts to create, redeem, and swap the JUPSol liquid staking token. Likewise, for perpetual trading, the DEX aggregator will have dedicated smart contracts that manage interactions with on-chain order books and liquidity providers.

$JUP – Jupiter’s Native Token

JUP is the governance token of the Jupiter protocol. The JUP token gives token holders the power to vote on protocol-related proposals, launchpad projects, grants and more. JUP launched in January 2024. So far, JUP has accumulated a market capitalization of billions.

At launch, the JUP had a initial circulating supply of 1.35 billion tokens. The total supply is set at 10 billion tokens, CoinMarketCap data showed. In January 2025, Jupiter burned 3 billion JUP tokens to reduce its supply.

“In summary, JUP is a currently a governance token for a trading platform with a vibrant community. The next step is not to slap on more utility for hopes of price pumps (we will do not such thing or make no such claims), but to iterate the token, platform and community towards being a full currency, ecosystem and economy.” – Jupiter founder Meow in a Reddit post.

Here is how the max supply of JUP token is distributed, according to CryptoRank:

Allocation	Percentage of Max Supply
Burn	30%
Team	14%
Future Airdrops	14%
Strategic Reserves	12.80%
Initial Airdrop	10%
JUPuary Airdrop	7%
Mercurial Stakeholders	4%
Community Reserves	3%
Launchpool	2.50%
Launchpool Fee	1%
Community Needs	1%
MM Loans to Centralized Exchanges	0.52%
Immediate Liquidity Provision needs	0.15%

Fees & Costs on Jupiter Exchange

Jupiter does not charge any fees for normal token swaps. Keep in mind that you’ll need to pay gas fees, transaction priority fees, and Jito tips for MEV protection to the Solana validators processing your transaction. However, Jupiter does charge fees when you perform special transactions such as limit orders, dollar cost averaging, value averaging, perpetuals trading and more.

Here is a table summarizing different kinds of fees charged by Jupiter:

Action	Cost
Normal Token Swap	Free
Limit Order	Platform fees of 0.2% on taker
Dollar Cost Averaging	Platform fees of 0.1%
Value Averaging	Platform fee of 0.1%
Perpetuals Exchange	Flat 0.06% base fee applied on position size Price impact fee Borrow fee paid hourly on open positions
JupSOL	0.1% SOL deposit fee
ApePro	Platform fee of 0.5% on swap transactions

How to Use Jupiter Exchange?

You will need a crypto wallet that is compatible with the Solana blockchain to use Jupiter. If you are new to crypto, Best Wallet and Phantom Wallet are some of the most user-friendly Solana-compatible crypto wallets that you can download for free. Once you have set up your crypto wallet, here are the steps to log into the Jupiter Exchange and conduct token swaps:

On your desktop, open your browser and go to Jupiter’s official website.
Click on the “Connect Wallet” button on the top-right corner of your screen.
Choose your crypto wallet from the options displayed. If your crypto wallet isn’t visible or it’s on your phone, you can connect it using the Wallet Connect QR scanner.
If your crypto wallet is on your phone, open the application.
Use your phone camera to scan the Wallet Connect QR code displayed on your desktop screen.
Approve the connection request on your smartphone.
Once you have successfully logged in to Jupiter, select the token that you want to buy and a token you want to sell.
Enter the amount of the token you are planning to sell.
You’ll see the exchange rate for the token swap. Take a moment to review the swap route and the output token amounts.
Make sure that you have enough SOL to pay for gas fees.
You can select either “Auto” or “Manual” mode in Settings. “Auto” is recommended for beginners, while “Manual” lets you customize your order by adjusting trading parameters.
Once you are satisfied with the exchange rate and trading route, click on the “Swap” button.
Accept the confirmation notification on your crypto wallet.
At last, you will receive a notification that will inform you about the status of your transaction.

How Jupiter Exchange works — Source: Jupiter

How Does Jupiter Compare to Other Exchanges?

Jupiter can be easily mistaken for a decentralized exchange. While Jupiter allows users to swap tokens on its platform, similar to services offered by DEXs such as Raydium and Uniswap, but in technicality the token swaps facilitated by Jupiter are occurring on third-party protocols. Jupiter simply connects users with the best exchange rate across the Solana blockchain. The key difference between a DEX aggregator like Jupiter and a DEX like Raydium is that the former does not have liquidity pools for token swaps.

In the table below, we compare Jupiter against popular DEXs such as Solana-based Raydium, Ethereum-focused Uniswap and multi-chain PancakeSwap:

Features	Jupiter	Raydium	Uniswap	PancakeSwap
Blockchain	Solana	Solana	Multi-chain	Multi-chain
Type	DEX aggregator	DEX	DEX	DEX
Liquidity Source	External DEXs	Native Liquidity Pools	Native Liquidity Pools	Native Liquidity Pools
Swap Mechanism	Aggregates multiple DEXs	AMM + Order Book	AMM	AMM
Limit Orders	Yes	Yes	Yes	Yes
Perpetuals Trading	Yes	Yes	Yes	Yes
Native liquid staking protocol	Yes	No	No	No
MEV Protection	Yes	No	Yes	Yes
Governance Token	$JUP	$RAY	$UNI	$CAKE

Jupiter Exchange: User Ratings & Feedback

Now that we have read all there is to know about Jupiter, let’s hear what the community has to say about the protocol.

On X, Henry Duckworth, CEO of Solana-based real world asset marketplace AgriDEX praised Jupiter saying:

“Jupiter is an amazing product (use it daily) and @0xSoju and team have built something really cool. Everything (from our on AGRI token) to BTC is down in the last few weeks, and the lower the MC or FDV the higher the drop rate. Now when be a time to DCA the product and tokens you stand by, personally I’m going back in.” – AgriDEX CEO

Elsewhere, DeFi expert Ignas called Jupiter the “single best DEX aggregator in crypto” before adding:

“You realize it when you try to ape into a volatile memecoin on Base. Jupiter dynamic slippage setting is amazing that EVM aggregators lack. Uniswap UI is slow, txs just don’t land because auto slippage fails. Paraswap, 1inch, Matcha are all way too slow.” – DeFi Expert Ignas

But not everyone was singing Jupiter’s praises online. A pseudonymous X user named Flood posted:

“Jupiter is just a front end, and barely an exchange. Their Perp offering is a complete joke. There’s also no real utility for the token, it will trade -95% over next 3 years, try again solana manlets.” – A pseudonymous X User

Meanwhile, another X user by the name Dave highlighted failed transactions on Jupiter in a post from August 2024.

“Solana is wild. So far today 81.36% of all transactions on Solana’s Jupiter Aggregator have failed (program name Jupiter Aggregator v6), users have still been charged for these failure’s and validators have still profited from the fees.” – X User Dave

Top Alternative to Jupiter Exchange

Now, what if we told you about an app that offers most of Jupiter’s features and works across multiple blockchain networks? We are talking about the Best Wallet. Is is a non-custodial crypto wallet that comes with an in-built DEX aggregator called the Best DEX.

A key advantage of Best Wallet and Best DEX over the Jupiter Exchange is their support for multiple blockchains. The Best Wallet currently supports Bitcoin, Ethereum, Binance Smart Chain and Polygon. Support for popular chains such as Solana, Base and Ton are expected to come soon to the Best Wallet.

Best Wallet’s multi-chain supports means that you can swap tokens using the Best DEX on Bitcoin, Ethereum, Binance Smart Chain and Polygon. According to the company, Best Wallet aggregates over 50 DEXs, helping users trade tokens at the best exchange rates with the lowest fees.

Best Wallet: Top Platform to Buy, Trade & Stake Cryptos

Best Wallet is a crypto wallet that is available to download on Apple App Store and Google Play for free. This crypto wallet is known for its user-friendly interface and ease-of-use which makes it the best web3 wallet for beginners. The setup process is super easy as the wallet does not require users to secure secret recovery phrases, which can be an off-putting task for crypto newcomers. Instead, the Best Wallet depends on social or email logins and cloud drives to facilitate easy wallet backup.

Interestingly, this decentralized crypto wallet offers strong security features such as biometric verification, passcode and two-factor authentication (know why 2FA is important). Crypto users will also enjoy Best Wallet’s in-app features, including a token launchpad, dApp explorer, fiat onramp, and cross-chain swaps.

To know more about this application, check out our separate Best Wallet Review 2025.

Best Alternative to Jupiter Exchange — Source: Best Wallet

Best Wallet Key Features

With its multi-blockchain support and token launchpad opportunities, Best Wallet offers some of the best features a crypto wallet can provide. Here are some standout offerings crypto users should know about:

Multi-Chain Support: Best Wallet supports popular blockchain networks such as Bitcoin, Ethereum, BNB Smart Chain and Polygon.
Best DEX: Users can utilize an in-built DEX aggregator called Best DEX for on-chain token swaps.
Fiat Onramp: Best Wallet has integrated third-party onramp platforms to buy crypto with fiat.
Token Launchpad: The “Upcoming Tokens” tab on Best Wallet gives users a chance to participate in best crypto presales.
$BEST Token:Best Wallet has a native token called $BEST, giving holders perks like lower fees, higher staking rewards, and early access to presales.

Best Wallet Pros & Cons

Pros

Free to download and easy to use.
Supports popular chains such as Bitcoin, Ethereum, BNB Smart Chain and Polygon.
Non-custodial wallet which gives you full control over your tokens.
Uses advanced security methods to keep your crypto safe.

Cons

Does not have a desktop version.
Does not support Solana, Base and other Ethereum L2s.
No advanced trading tools.
Limited customer support.

Visit Best Wallet

Conclusion: Jupiter Crypto Exchange Review

Jupiter stands out as a star DeFi protocol within Solana’s rich on-chain ecosystem. Its flexibility is a big reason why it has attracted so many users and supporters since it launched. Whether it is simple token swaps or advanced leveraged trading, Jupiter has something to offer for everyone. Most notably, the platform has removed the technical barrier that can make crypto trading daunting for newcomers.

However, Jupiter is not without its flaws. The platform’s sole focus on the Solana ecosystem limits its reach and the anonymity of its founder “Meow” has raised eyebrows among those calling for greater transparency.

Jupiter Crypto Exchange

Free to Use

8.3

Ease of use

9.5/10

Fees

6.5/10

Online Reputation

8.7/10

Innovation

7.5/10

Security

9.2/10

Pros

Jupiter provides the best exchange rates for token swaps.
This DEX aggregator has advanced trading features.
The platform doesn't charge fees on regular token swaps.
Users can pay priority fees for instant transaction execution.

Cons

It is only available on the Solana blockchain.
Third-party services are required to convert fiat to crypto.
Charges fees on limit orders, value averaging, and DCA.
Users pay gas fees even when transactions fail.

Visit Jupiter

Frequently Asked Questions

How do I start trading on Jupiter Exchange?

Is Jupiter exchange beginner-friendly?

How secure is Jupiter Exchange for trading?

Does Jupiter Exchange have a mobile app?

Can users trade without KYC on Jupiter Exchange?

What are the best alternatives to Jupiter Exchange?

Are there any withdrawal limits on Jupiter Exchange?

Can U.S. residents use Jupiter Exchange without restrictions?

References

“Spot Trading Guide.” Jupiter Exchange, station.jup.ag/guides/spot.
“Perpetual Exchange Overview.” Jupiter Exchange, station.jup.ag/guides/perpetual-exchange/overview.
“Perps Earn Program.” Jupiter Exchange, jup.ag/perps-earn.
“ApePro Overview.” Jupiter Exchange, station.jup.ag/guides/apepro/overview.
“JUPSOL Guide.” Jupiter Exchange, station.jup.ag/guides/jupsol/jupsol.
“Jupiter Lock Guide.” Jupiter Exchange, station.jup.ag/guides/jupiter-lock/jupiter-lock.
“How Swap Works.” Jupiter Exchange, station.jup.ag/guides/swap/how-swap-works.
“What Networks Does Best Wallet Support?” Best Wallet Support, support.bestwallet.com/en/articles/10490851-what-networks-does-best-wallet-support.

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Mensholong Lepcha

Mensholong is a experienced crypto and blockchain journalist. He has contributed with news coverage and in-depth market analysis to Reuters, Capital.com, StockTwits, XBO, and other publications. In his spare time, Mensholong enjoys watching soccer, finding new music, and buying BTC... Read More

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