PancakeSwap is a decentralized exchange native to Binance Smart Chain. In other words, it shares some similarities with established platforms like UniSwap in that users can swap their coins for other coins without the input of middleman services. Pancake Swap is the most traded dex on Binance Smart Chain.
How to Trade on PancakeSwap
Trading Crypto on Pancakeswap is simple and very easy. Just you need to create a metamask wallet, after that you need to add Binance Smart chain Network on your Metamask wallet and buy some BNB from Binance exchange. And follow the steps:-
Step 1: Go to the website Pancakeswap.Finance on the top left corner you see the option of connect wallet, connect your metamask wallet.
Step2: Choose the Currency You want to trade, Here we are going to swap BNB with BUSD, So i have choose BNB and BUSD.
Step3: Add the amount of The currency you want to trade in. After the You sell the Swap button Down Bellow.
Step4 : After clicking swap Button authorize your BNB to Trade On
Step5: Done , Wow we just Leaned to trade on Pancakeswap
Benefit of trading on PancakeSwap .
Pancake swap is Dex so you don’t have to create any account to trade on it just you can trade on pancakeswap just from your crypto wallet which make investor to safe time and money because Pancakeswap is on Binance Smart Chain Network which have low trading fee than of Ethereum Chain. So its easy faster and less fee to trade its. So many people loves to trade on PancakeSwap.
Disadvantage of trading on Pancakeswap.
There are some of the Disadvantages of trading pancakeswap which may cost you a loss. In Dex there is a high risk of Phishing attack on it so people has to verify the urf before trading on Pancakeswap, In Cex Exchange if phishing will happen the owner or cex is responsible for it to protect your money form hackers but such feature or advantags are not in the exchanges like Dex(Pancakeswap, Uniswap, etc)