By Brian Moir
Here is a brief tutorial on how to swap or trade on PancakeSwap with Trust Wallet or MetaMask.
Step 1) Purchase (CRYPTO: BNB). On an exchange, you will get getting the BEP-2 version, and we will be swapping for the Smart Chain BEP20 BNB in a bit. DO NOT SEND BEP-2 BNB to Pankcake Swap. You will also need to set up your MetaMask to the Binance Smart Chain with the steps below. Send ONLY BNB SMART CHAIN to MetaMask. You can only use BNB Smart Chain on Pswap.))
Step 2) Send BNB to Trust Wallet. Once in Trust Wallet, you will need to swap BNB for BNB Smart Chain.
BNB swap to Smart Chain
Step 3) Now this can go one of two ways, if you are on iPhone and you have your Trust Wallet set up with the browser already, you can go straight to https://exchange.pancakeswap.finance/#/swap. If you do not you can set it up for this here. If you would rather use MetaMask ( I prefer MetaMask for the UI and ease of use, and it's easier while using on a computer, and the fees are much cheaper on a desktop over mobile. You will need to set your MetaMask for the Binance Smart Chain by putting this information in the network tab:
- Network Name: Binance Smart Mainnet
- RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Symbol: BNB
- Block Explorer: https://bscscan.com
Step 4) After you have all of that setup, you can go straight to https://exchange.pancakeswap.finance and hit the exchange tab. Enter the token address, you can use Safemoon’s address as an example (0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3) and check it out on bscscan here. You can also go to BSCscan or poocoin.app, and look up the token’s information, socials, verification code base, number of holders, and liquidity wallets. These things are very important to consider when investing in BEP20 tokens. The token you are wanting might even be on Pswap already and you can search for it directly. Most all “legit” tokens you are wanting to obtain will have the contract address, slippage tolerance, and a brief tutorial on how to buy the token on their site. ***If they do not have this info or you can not find it easily on their social channels/ website, then you should tread lightly. It could possibly be a scam)
If you get the error above, don't worry, you just need to adjust the slippage tolerance of the swap, each token will have different metrics you will need to research before making the swap. If you do not you will either waste a lot of time or receive a drastic difference in what you paid to what you get. You can do this from the settings, in the example below.
There you have it! You can now use Pancake Swap as well as a multitude of other Defi dApps. Welcome to the world of decentralized finance! You'll like it here! You will find new opportunities, new technologies, and a whole new world!
*IMPORTANT: Remember that all investments are risks, do your own research and be very careful when investing in these types of cryptos. There are a ton of scams out there. Do as much research as possible and know what you are getting into.
Always go through the address and look for any red flags you might find, if you have any doubt do not invest. Most of the time if it is a scam, you will see red flags and push back on Reddit or Twitter (NYSE:TWTR) quickly. Most Devs will be happy to answer any questions, explain any concerns, and be quick to help any way they can. If they do not do this, be cautious where you send your crypto.
Have fun and be a part of this brave new world! We are in a life-changing time and are shaping the future. Welcome to your part in history.
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