Pancake Buying Guide: Buy Digital Currency on Pancake Exchange

php editor Zimo brings you a super hardcore tutorial on buying coins on Pancake Exchange. With the craze in the cryptocurrency market, more and more people are getting involved in digital asset trading. As a well-known cryptocurrency trading platform, Pancake Exchange has attracted much attention. However, for novices, how to buy coins on Pancake Exchange is a relatively complicated problem. This article will introduce you to the registration, recharge, transaction and other steps of Pancake Exchange in detail to help you easily start buying coins. Whether you are a newbie or an experienced investor, you will get help from this tutorial. Let’s explore how to buy coins on Pancake Exchange!

How to buy coins on Pancake Exchange?

Buying coins on Pancake Exchange is simple and requires only the following steps: 1. Register an account 2. Recharge funds 3. Select currency 4. Enter the purchase quantity 5. Confirm transaction Complete the coin purchase operation.

1. Select the token you want to exchange.

#2. Select the Select Token icon and browse the list to find the token. You can also search by token name or token contract address.

#3. Enter the amount you want to exchange. You can enter the desired input amount or output amount.

Approval of tokens exchanged by the Uniswap automatic router is necessary, especially when the wallet is transacting using the Uniswap protocol for the first time. In this case, the token needs to be approved first. Please review relevant information about approving transactions here.

5. Check and confirm the exchange. Select the Swap icon to see a preview of the swap.

How about Pancake Exchange?

Pancake Exchange is a decentralized exchange based on Binance Smart Chain for earning tokens. The exchange uses an automated market maker (“AMM”) mechanism that allows token trading on Binance Smart Chain. In addition, you can also earn CAKE through the income farm, earn CAKE through watching the market, and earn more tokens through the syrup pool.

The Pancake Exchange has a very rapid growth rate, and the operation is very simple, the principle is easy to understand, safe and low fees, so it is widely used. In addition, the Pancake Exchange is transparent and visible. The exchange The website and all smart contracts are publicly visible for maximum transparency, and all contracts are verified on BscScan so you know what you see is what you get.

PancakeSwap uses the Automatic Market Maker (AMM) model of PancakeSwap; it provides users with the most basic trading opportunities. Like many other DEXs, it can be used to increase liquidity in mining pools and earn passive profits. PancakeSwap’s own token CAKE may be seen in some of these pools, while Binance Coin and BUSD may be seen in others. Various collections such as CAKE-BNB, BUSD-BNB, USDT-BUSD etc. have different promised yields.

In terms of operating model, Pancakeswap adopts the AMM Automated Market Maker model, and the user's counterparty is a liquidity pool. You can also think of Pancakeswap simply as Uniswap running on Binance Smart Chain. After all, the two DEXs do have many similarities. As for the security of DEX, whether there is a reliable company that provides independent auditing of smart contracts on DEX is an important criterion.

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