How to trade on PancakeSwap

To trade on PancakeSwap, you'll need a crypto wallet like MetaMask or Trust Wallet, connecting it to the Binance Smart Chain (BSC) network for successful transactions.

Mar 21, 2025 at 04:43 pm

Transactions on PancakeSwap must first have a useful crypto wallet. MetaMask and Trust Wallet are both very popular. 

Install the wallet :

MetaMask :

Open the browser and go to the official MetaMask website. If you use Chrome, Firefox or Brave browsers, find the corresponding plug-in download link, and click to download it.

After the plug-in is installed, it will be used for the first time and follow the system prompts to create a new wallet. Set up a strong password to protect the security of the wallet, and at the same time remember the mnemonics generated by the system. If there was a MetaMask wallet before, importing mnemonics can restore the data of the original wallet to the new device. Remember, mnemonic words cannot be leaked. If someone knows it, the money in the wallet will be dangerous!

Trust Wallet :

For Apple mobile phone users, open the App Store; for Android mobile phone users, open the Google Play Store, search for "Trust Wallet", and download and install it after finding it.

When the application is launched for the first time, you can choose to create a new wallet or import an existing wallet. If you import it into your wallet, you must enter the mnemonic word without any bad word. Mnemonic words can be placed in a safe and private place, and must not be lost or stolen.

Connect to Binance Smart Chain (BSC) : Because PancakeSwap is built on BSC, the wallet must be connected to this network so that transactions can proceed normally.

MetaMask :

Click the MetaMask plug-in, click the network drop-down menu in the upper right corner, and select the "Custom RPC" option.

In the settings window that pops up, fill in the information like this: write the network name as "Binance Smart Chain"; fill in "https://bsc-dataseed.binance.org/" for the new RPC URL; fill in "56" for the chain ID; write the symbol as "BNB"; write the block browser URL as "https://bscscan.com".

After filling in the "Save" button, you will be able to access the Binance Smart Chain in your wallet, and the network switching settings will be completed.

Trust Wallet :

Trust Wallet supports BSC network by default. Open the Trust Wallet app, and in Settings or Network settings, check if your wallet is already connected to the BSC network. If you are not connected, manually select "Binance Smart Chain" in the network list and switch it.

FAQ :

Installing the MetaMask plug-in failed : It is possible that the browser settings blocked the plug-in installation. Check the browser's extension settings to see if it is allowed to install plugins from official sources. In addition, if the network is not good, it may not be installed. Try changing to another network, or install it later.

Failed to import mnemonic words : take a closer look at whether the mnemonic words are incorrect, pay attention to upper and lower case, and whether there are spaces in the middle of the word. If you still can't import it, the mnemonic word may be broken or it may not match the current wallet type.

Visit PancakeSwapIn the browser address bar, enter the official PancakeSwap URL accurately: https://pancakeswap.finance. For the sake of financial security, the website must be clearly checked. Some phishing websites imitate formal trading platforms, and if they are accidentally logged in, the money may be gone. You can confirm the official website address from the official social media account of PancakeSwap or the website address given by the official documents.

FAQ :

Unable to access the official website : It may be because of a problem with the network connection. Check the network settings or try changing the network. It is also possible that the official website is under maintenance. Go to the PancakeSwap official social media account to see if there are any relevant notifications.

Connect to the wallet

After successfully entering the homepage of PancakeSwap website, click the conspicuous "Connect Wallet" button in the upper right corner of the page. Immediately, a wallet selection interface will pop up on the page:

MetaMask :

In the wallet options box that pops up, click the "MetaMask" option.

At this time, the MetaMask plug-in will pop up a window to confirm the connection. Click the "Confirm" button in the window to connect the wallet on PancakeSwap.

Trust Wallet :

Select the "Trust Wallet" option in the wallet selection box.

A QR code will appear on the page. Open the Trust Wallet app on your phone, click the scan code function in the app, and scan this QR code. Follow the prompts in the Trust Wallet application to complete the connection confirmation step.

FAQ :

Failed to connect to the wallet : If you use MetaMask, the plug-in version may be too old. Try updating to the latest version. If you scan the QR code with Trust Wallet and fail to respond, check whether the mobile phone camera is good, or refresh the page and get the QR code again. Also, you have to ensure that there are enough BNB in your wallet to pay the transaction fees that may be incurred.

Start trading

After the wallet is connected to PancakeSwap, you can do various transactions:

Exchange tokens :

In the PancakeSwap main interface, find the "Swap" function module and click in.

In the "From" drop-down menu, select the tokens you intend to exchange, such as BNB. This menu lists all tokens that have been added in the wallet and can be traded on PancakeSwap. If the token you want to trade is not displayed, you must first add the contract address of the token in your wallet.

In the "To" drop-down menu, select the target token you want, such as CAKE. This menu also shows the types of tokens that can be traded.

In the input box, enter exactly the number of tokens you want to exchange. After losing, PancakeSwap will automatically calculate the handling fee to be paid for this transaction and how many target tokens you can get based on the current market real-time price and handling fee rules.

Carefully check the transaction information, such as the types, quantity, handling fees of exchange, and the number of target tokens expected to be obtained. Confirm that there is no problem, click the "Swap" button. At this time, MetaMask or Trust Wallet will pop up a transaction confirmation window and confirm the transaction details, including transaction amount, handling fee, and reception address. If the information is correct, click the confirm button and wait for the blockchain network to process the transaction. If this is your first time trading this token, the page may prompt you to click "enable xxx" to authorize. Authorization must also be confirmed in the wallet. Only when the authorization is successful can it be officially exchanged.

Provide liquidity :

Go back to the PancakeSwap main interface and click the "Liquidity" function option.

On the Provide Liquidity page, from many token pair combinations, choose the two tokens you want to provide liquidity, such as BNB and CAKE.

In the corresponding input box, enter the amount of the two tokens you intend to invest. PancakeSwap will automatically calculate a suitable investment ratio based on the current liquidity pool, so that the liquidity pool can remain stable and balanced. You can adjust the investment amount appropriately based on the risks you can bear and the investment plan. However, it is recommended to try to get close to the proportion calculated by the system to avoid unpredictable losses.

Confirm that the amount and ratio entered are correct, click the "Add liquidity" button. Then, the wallet will pop up a transaction confirmation window to confirm transaction information, such as the number of tokens invested and handling fees. If you confirm that there is no problem, click Confirm and your tokens will be added to the liquidity pool. At the same time, you will get a liquidity pool token (LP Token) that represents your share in the liquidity pool, and then you can participate in liquidity mining and share the profits.

Participate in the Profit Farm :

On the main interface of PancakeSwap, click on the "Farm" section.

The farm page will display multiple income pools, each income pool corresponds to a different token pair, such as BNB - CAKE income pool. When selecting a profit pool, pay attention to the information of the rate of return and risk warning displayed by each profit pool. The rate of return will change with the market conditions, not fixed, and the risk levels of different returns pools are different. You can choose according to the degree of risk you can accept.

Click the "Invest" button of the income pool, and enter the number of LP Tokens you are planning to invest in in the pop-up input box.

Confirm that the number of inputs is correct, click the Confirm button. Your LP Token will be pledged to the income pool and begin to participate in the income distribution. According to the rules and algorithms of the income pool, you will get the corresponding CAKE reward in a certain proportion. It should be noted that returns will be affected by factors such as market fluctuations and changes in liquidity pool funds, and will not be stable and unchanged.

FAQ :

The price deviation is large when exchanging tokens : the market price may become too fast, and there is a delay in the price during trading and the price displayed on the interface. Try refreshing the page, checking the latest price before trading, or adjusting the number of transactions to reduce the impact of price slippage.

When providing liquidity, it is suggested that the amount is insufficient : see if the balance of the two tokens in the wallet is enough, and you must have enough money to invest. In addition, the transaction fee must be deducted from the wallet balance, which must be ensured that there are enough BNB in the wallet to pay the handling fee.

Participating in the Farm has no income : First check whether the LP Token has been successfully pledged. You can check the pledge status in the wallet or PancakeSwap interface. The income situation is affected by factors such as market conditions and adjustment of income pool rules. If the market conditions are not good, or the income pool rules change, the returns may be less, or even no returns for the time being.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

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