PancakeSwap is a decentralized exchange (DEX) where you can trade low-priced and lesser-known cryptocurrencies (also known as “altcoins”) instead of major cryptocurrencies like Bitcoin or Ethereum.
While altcoins have the potential for significant price increases, they also come with significant risks. Make sure to exercise caution and take full responsibility when buying them!
Here’s how to buy altcoins on PancakeSwap:
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Go to PancakeSwap’s website at https://pancakeswap.finance/.
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Click on “Connect Wallet” in the top right corner and connect your wallet, such as MetaMask or Trust Wallet.
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Select “Exchange” from the “Trade” menu on the left.
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Under “From,” select the cryptocurrency (such as BNB or BUSD) on the Binance Smart Chain (BSC) network that you have in your wallet.
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Under “To,” enter the contract address of the altcoin you want to buy. You can find the contract address on the altcoin’s official website or Twitter.
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Set the “Slippage Tolerance,” which is the percentage of price difference between the time you place the order and the time it is executed.
Since altcoins are highly volatile, it’s recommended to set this higher, usually between 10% and 20%.
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Click “Swap,” and when the confirmation screen appears, click “Confirm Swap.”
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When the wallet approval screen appears, click “Confirm.”
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Once the transaction is complete, the altcoin will appear in your wallet.
