How to Swap on PancakeSwap v3: A Comprehensive Guide PancakeSwap
Check the menu for more documentation on the range of PancakeSwap features and services, including more advanced guides. When you are ready, click the Confirm Swap button. 3 – Choose the token you want to trade from the dropdown menu in the upper section.
However, users are free to customize it for their needs. If you are trading a token for the first time, you may need first to click “Enable XXX (your token)” to approve. 4 – Choose the token you want to trade to in the lower section as above. Jack Cole is a crypto expert specializing in NFTs and P2E gaming. After working as a copywriter for 3 years, Jack was introduced to the crypto industry and hasn’t looked back. His articles cover a range of topics from NFTs and crypto gaming to upcoming projects in the crypto niche.
For buyers, this means they no longer need to wait to be matched with a seller but can instead deposit their current cryptocurrency into the pool and withdraw the crypto they want. After you’ve tapped on “WalletConnect”, you’ll see a list of wallets that you can connect to. In this PancakeSwap tutorial, you’ll learn how to use PancakeSwap with a wallet like Trust Wallet to swap BNB for another token. 2.Next, choose how many tokens you want to transfer. Once you’re okay with the bridge fee, click on the “Deposit” button. A message will pop up from your wallet asking for your approval.
Guides for using PancakeSwap features
You’ll need to deposit both tokens based on the ratio provided on the site. This unique feature not available on any other decentralized exchange showcases PancakeSwap’s fun and friendly approach to trading. The rewards start with general ticket costs combined with CAKE tokens from the treasury.
Once you’ve downloaded Trust Wallet, you need to create a new wallet.
You can check your transaction on blockchain explorer by clicking the link shown above. 5 – Next, either type an amount in the upper section to input the number of tokens you want to swap (spending amount). Or, type an amount in the lower section to input the number of tokens you want to swap to (receiving amount). Alternatively, you can learn how to get an Aptos-compatible wallet here, and how to get some Aptos coins to swap within here. Although the team behind the project remains anonymous, their governance system allows the Pancake Swap Exchange users to determine the future of the platform. This allows them to adapt the platform based on what users say, instead of dictating what is best for the project.
With so many features, it’s no surprise that PancakeSwap has become one of the most popular DEXs in less than two years, currently ranking as the third most popular option. Despite being a relatively new addition to the market, PancakeSwap is already the what is positive and negative variance third most popular DEX in the world. Once purchased, you can store your cake with MetaMask, Binance Smart Wallet, or Trust Wallet.
The greater the liquidity you offer, the more rewards you can earn. The exchange lets you sell and buy BEP 20 tokens–a token developed from the Binance Smart Chain Blockchain (BNB chain) platform. PancakeSwap hosts a range of unique features, including a liquidity pool and staking rewards, a lottery system, and the ability to swap tokens without an intermediary.
How to Farm the CAKE Token: A Quick and Easy Guide
Simply click Harvest, and PancakeSwap will return your tokens. You’ll then need to confirm the transaction in your wallet. Start by connecting your wallet to PancakeSwap using the Connect Wallet button in the top right corner. A unique feature of PancakeSwap is its daily lottery draw, which requires an entry fee of $5 worth of CAKE.
Earn tokens with Syrup Pools
After you’ve tapped on “Connect”, the “Connect to a wallet” pop-up will open. To swap on PancakeSwap, you need to connect to a wallet first. To begin with, you need to have a cryptocurrency wallet. In addition, you need to have some BNB in your cryptocurrency wallet. Follow these guides to get everything set up to use PancakeSwap, or feel free to jump to the guide you need if you’ve been doing okay but lost your way.
How to Trade
- Firstly, enter the amount of BNB that you want to swap for the token.
- In terms of trading volume, PancakeSwap ranks third in the world with an average volume of $944,910,070.
- Once connected, go to the Trade tab and click Liquidity.
- Or, type an amount in the lower section to input the number of tokens you want to swap to (receiving amount).
As well as the Pancake Swap Exchange, users can invest in non-fungible tokens (NFTs) using PancakeSwap’s new NFT store. The store is home to BNB Chain-based NFTs, including Pancake Squad, Gamester Apes, and BornBadBoys. Although not as popular as NFT stores such as OpenSea, these collections have a value of over $1 million, with many NFTs selling for over $1000 each. Now you can actually start farming by depositing your LP tokens in a farm to receive CAKE tokens. You’ll be directed to the Liquidity page, where you can click Add Liquidity and choose the token pair you want to deposit.
The PancakeSwap exchange is an automated market maker (AMM) that helps remove intermediaries from the trading process. Instead of relying on a counterparty to provide liquidity, its programming defines the price of crypto and provides liquidity in the form of a liquidity pool. After choosing the pair, you’ll need to sign the transaction from your wallet, and you’ll receive liquidity provider (LP) tokens based on your share of the liquidity pool. Even if your trading pair isn’t supported on the Farms page, you can still earn trading fees when you stake your tokens in Liquidity Pools (LPs).
This means that Trust Wallet is successfully connected to PancakeSwap. After you’ve tapped on “Open”, Trust Wallet will open. To connect to a wallet, tap on “Connect” on the top navigation bar. On the “Withdraw BNB” page, paste your Smart Chain address from Trust Wallet in the “Address” field. Now that you’ve created a wallet on Trust Wallet, you need to buy some BNB. On the withdrawal page, paste your Smart Chain address from Trust Wallet in the “Address” field, enter the amount of BNB that you want to withdraw, and withdraw it.