How to Buy and Sell Crypto at Pancakeswap DeX

Fokuskan.com - A decentralized exchange or DeX is an exchange that moves in a decentralized manner, which means it doesn't have a third party.

Unlike centralized exchanges such as Indodax, Tokocrypto, Binance, and FTX, DeX moves automatically without the need for central authority.

Examples of DeX that are well-known in the crypto world today are Uniswap, Pancakeswap, SushiSwap, and Serum.

Currently, one of DeX which is experiencing appreciation in its volume is Pancakeswap.

This is due to the phenomenon of buying crypto from new projects to become early investors in order to get maximum profit.

Therefore, in this article, we will explain an easy way to use Pancakeswap to try to buy the latest crypto.

Keep in mind that buying new crypto is a risky thing. Always use unused money or "cold money". This article is not an invitation or advice for investing or trading.

1. Open Pancakeswap

The first step is to open pancakeswap.finance in a browser on a computer, laptop or smartphone.

The example in this article will use a browser that is on a smartphone.

The second step is to open the "Exchange" column by pressing "Trade" and then pressing "Exchange" below it.

After pressing the text Pancakeswap will direct to the column where crypto buying and selling can be done.

2. Connect Wallet

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After finding the trading column or "Exchange" the next step is to connect your personal Wallet to Pancakeswap.

The trick is to press the words "Connect" or "Unlock Wallet" to connect your personal wallet to Pancakeswap.

After pressing the text, there will be a choice of several wallets that can be adjusted to your personal wallet.

Pancakeswap accommodates seven wallets namely MetaMask, TrustWallet, MathWallet, TokenPocket, WalletConnect, Binance Chain Wallet, and SafePal Wallet.

If you don't have a personal wallet, each of those wallet posts has a link that you can click to go to their respective site.

By logging into the site, you will be able to register yourself to have a personal wallet so you can use DeX.

In Pancakeswap, there is an inscription "Learn how to connect" which can be used to view a guide connecting personal wallets.

After pressing one of the wallets available at Pancakeswap, you can start using DeX.

3. Select Crypto

The next step is to choose the crypto that you want to trade. In Pancakeswap, trading occurs using Swap.

So even though it is technically the same as regular trading, in Pancakeswap, you will exchange one crypto for another crypto.

For the first crypto above, is the crypto that you have that you want to exchange for other cryptos.

The way to choose is by pressing "BNB" in the first section and pressing another crypto text to change.

You can press the existing crypto text, search for its name in the seach bar or write down the address of the crypto contract.

Finally, you have to enter the amount of crypto that you want to spend on the crypto exchange that will occur.

For the second crypto at the bottom, is the crypto that you want to buy or want to own which will be exchanged for the crypto that you previously chose.

The second way to choose is by pressing "Select a currency" which then you can choose to choose the desired crypto.

The steps are the same as the previous steps and can refer to the previous image.

Later, the amount of crypto that you will get will come out automatically as a result of seeing the value of the crypto that you will exchange.

This example will use TKO crypto which will be exchanged for Safemoon.

The next step is to press "Approve * Crypto *" where Crypto is the crypto name used, then press "Swap".

Make sure you have a BNB with the address BEP20 because it will be used to pay gas fees or transaction fees.

After the confirmation is complete, you can see the transactions that have just occurred on the BSCScan. Once in BSCScan, the transaction has officially occurred.

If you have followed these steps you can make transactions at Pancakeswap.

After understanding Pancakeswap, you can explore more about DeX because there is much that can be done besides buying and selling crypto.

You can watch a video on the YouTube channel Coin investing about Pancakeswap to find out more about DeX.

Disclaimer

Digital Asset Trading (Bitcoin, Ethereum, etc.) is a high-risk activity, know and manage your risk when trading Digital Asset. Digital Asset trading should be carried out on an exchange platform registered with Bappebti.

We do not force users to buy or sell Digital Asset, as an investment, or for profit action. All Digital Asset trading decisions are independent decisions by the user.