If you’ve just connected your smart wallet to PancakeSwap, you’re likely curious about the next step: how to buy on PancakeSwap. It’s important to note that tPancakeSwap only supports the trading of BEP-20 tokens, so you won’t be able to use a traditional currency such as USD to buy coins on the platform. In this article. we’ll cover how to buy coins on PancakeSwap as well as give you some recommendations on the best coins you can buy right now.
How to Buy Coins on PancakeSwap?
Once you’ve set up and connected your waller, buying on PancakeSwap is easy. You just need to make sure that you’ve already got some BEP-20 tokens in your wallet. This should include some BNB that PancakeSwap uses for its transactions fees.
1. Go to the PancakeSwap Exchange page
Navigate to the PancakeSwap website. In the top-left corner you should see ‘Trade.’ Click on that to be directed to the ‘Swap’ page. This is where you’ll be carrying out your exchange.
2. Choose the token you want to exchange
On the Swap page, you’ll see a little exchange calculator on the right. Using the drop-down menu in the top section, you can choose the coin you would like to exchange.
3. Choose the token you want to trade to
Using this same calculator, use the drop-down menu in the bottom section to choose the coin you want to trade to.
4. Enter the amount
You can enter either the number of coins you want to receive or the number of coins you wish to exchange. Once you enter an amount into one of the fields, the other field will be calculated for you automatically. A small breakdown will also appear below the calculator.
5. Review the details and click ‘Swap’
Once you’ve made sure that all the amounts are correct and that you’re happy with the fees and slippage tolerance, you can confirm that Swap.
6. You’re done!
You’ve just bought your first tokens using PancakeSwap! A window will pop up letting you know that the transaction was submitted, and it’ll also show you a handy link where you can view your transaction details on BscScan.
How to buy on PancakeSwap with Trust Wallet?
Once you know how to connect Trust Wallet to PancakeSwap, the process of buying tokens is simple. For users using PancakeSwap on an apple device or desktop computer, you’ll just need to connect your wallet and follow the instructions in the section above. Make sure to keep your phone near you as you may need to authorize the Smart Contract on the TrustWallet app.
If you’re using an android device, however, you can access the PanckeSwap exchange feature directly through the Trust Wallet app.
- Go to your Trust Wallet app.
- Navigate to DAPPs.You should see this at the bottom of the screen.
- Locate PancakeSwap. This is usually under the ‘DeFi’ section.
- From there, you’ll be directed automatically to the PancekSwap exchange page.
- Enter the amount you want and confirm the swap!
Best coins to buy on PancakeSwap
One of PancakeSwap’s selling points is that it hosts a wide variety of BEP-20 tokens. However, with such a large amount of coins to choose from, it can be a bit intimidating for users just starting out. In this section, we’re going to talk you through a few of the best coins to buy on PancakeSwap.
HI
hi is a financial services platform launched in 2021. HI is the native utility token of the platform which is also available to trade on PancakeSwap. HI can be thought of as a membership token and holding it will grant you many benefits within the hi sphere, such as ‘interest boosters’.
CAKE
CAKE is the beating heart of PancakeSwap’s platform. As a native governance token, CAKE can be used across all of PancakeSwap’s products, with the addition that you’re also able to make and vote on PancakeSwap’s governance proposals through the platform’s community governance portal.
ETH
As the second-largest cryptocurrency by market capitalization, Ether (ETH) is the standard for many blockchain technologies. It’s the native cryptocurrency of the decentralized Ethereum platform and is a great coin to buy if you’re looking for a longer-term investment.
BUSD
BUSD is a 1:1 USD backed stablecoin created by Binance and Paxos. It’s one of the few stablecoins that is approved by the New York State Department of Financial Services (NYDFS). Since it is as stable as the US Dollar, BUSD allows users to trade with other tokens while minimizing the risk of volatility that is prominent in other cryptocurrencies.
BNB
Created in 2017, BNB (a.k.a Binance Coin) is one of the world’s most popular utility tokens. BNB is primarily used to pay transaction fees on the Binance exchange and is crucial to operations on PancakeSwap and other exchanges.
We hope you are now more familiar with how to buy on PancakeSwap and have an idea of which coins are worth your investment. So long as you know how to connect your smart wallet to PancakeSwap, buying tokens should be a piece of cake. If you’re just getting started and looking for an interesting coin to buy, remember to look out for HI.