How to buy Telos (TLOS) coins on PancakeSwap?

Before swapping BNB for TLOS on PancakeSwap, connect a compatible cryptocurrency wallet and set the slippage tolerance to account for price fluctuations during the transaction.

Dec 20, 2024 at 02:17 pm

How to Buy Telos (TLOS) Coins on PancakeSwap?

Before following the steps below, please make sure you have a compatible cryptocurrency wallet, such as MetaMask or Binance Chain Wallet, installed and set up. You will also need to have some Binance Coin (BNB) in your wallet as it will be used to pay for gas fees.

Key Points:

• PancakeSwap is the most decentralized Automated Market Maker (AMM) based on Binance Smart Chain.
• Telos is a high-performance EVM-compatible blockchain focused on providing scalable, secure, and developer-friendly infrastructure for decentralized applications.
• TLOS is the native cryptocurrency of the Telos platform, used for gas fees, staking, and governance purposes.
• Buying TLOS on PancakeSwap requires a few steps, including connecting your wallet, swapping BNB for TLOS, and confirming the transaction.

How to Buy Telos (TLOS) Coins on PancakeSwap:

Step 1: Open PancakeSwap and Connect Your Wallet

• Go to the PancakeSwap website and click 'Connect Wallet'.
• Select your wallet provider and follow the on-screen instructions to connect your wallet to PancakeSwap.

Step 2: Find the TLOS Trading Pair

• Search TLOS in the search box and select the TLOS/BNB trading pair.
• The chart will show the current TLOS price and the trading history between TLOS and BNB.

Step 3: Set the Amount of BNB to Swap

• Enter the amount of BNB you wish to exchange for TLOS.
• The calculator will automatically display the estimated amount of TLOS you will receive.

Step 4: Adjust Slippage Tolerance

• Set the slippage tolerance to around 1% to account for price fluctuations during the transaction.
• Higher slippage tolerance allows for larger price movements during the swap, while lower slippage tolerance reduces the risk of failed transactions but can result in gas price increases.

Step 5: Confirm the Swap

• Review the transaction details carefully, including the amount of BNB being spent, the estimated TLOS received, and the slippage tolerance.
• Click 'Swap' and follow the prompts to confirm the transaction.

Step 6: Wait for Transaction Confirmation

• The transaction will take a few seconds to confirm on the Binance Smart Chain.
• You can track the progress of the transaction in your wallet or on the PancakeSwap transaction history page.

Step 7: Add TLOS to Your Wallet

• Once the transaction is confirmed, the TLOS tokens will be deposited into your connected wallet.
• You may need to add the TLOS token to your wallet by manually importing the token contract address, if it is not automatically recognized.

FAQs

Q: Where can I buy TLOS besides PancakeSwap?

• TLOS can also be purchased on other cryptocurrency exchanges such as OKX and Gate.io.

Q: What is the difference between TLOS and TLOS.e?

• TLOS is the native currency of the Telos mainnet, while TLOS.e is the wrapped version of TLOS that operates on the Ethereum blockchain.

Q: Why should I use PancakeSwap to buy TLOS?

• PancakeSwap is a highly liquid and decentralized AMM with favorable exchange rates and low gas fees compared to centralized exchanges.

Q: Can I stake TLOS on PancakeSwap?

• No, PancakeSwap does not currently support staking for TLOS.

Q: Is it safe to buy TLOS on PancakeSwap?

• As with any cryptocurrency transaction, there is a risk associated with buying TLOS on PancakeSwap. Always ensure that you are using a reputable exchange and that you take appropriate security measures to protect your funds.