In this article, we will be looking at how you can buy cryptos from PancakeSwap using TrustWallet. Before we go into details of the process, let’s briefly discuss what PancakeSwap is all about.
What is PancakeSwap?
PancakeSwap is a decentralized Automated Market Making (AMM) exchange that is built on the Binance Smart Chain. It is similar in design to Uniswap and SushiSwap, which are decentralized exchanges built on the Ethereum blockchain. If you are familiar with SushiSwap and Uniswap, you’ll have no problem getting to grips with PancakeSwap.
Difference between PancakeSwap and Uniswap
The main difference between the Ethereum-based decentralized exchanges (Uniswap and SushiSwap) and PancakeSwap is: for the Ethereum-based decentralized exchanges, you’ll be connecting to the Ethereum network, while for PancakeSwap, you’ll be connecting to the Binance Smart Chain. This means that instead of trading Ethereum or ERC20 tokens, you’ll be trading BEP20 tokens on PancakeSwap.
PancakeSwap Supported Wallets
To use PancakeSwap, you need to use a wallet that is connected to the Binance Smart Chain. Examples of such wallets supporting Binance Smart Chain which can be used on PancakeSwap are:
- Math Wallet
- Binance Chain Wallet
Note: If you opt for MetaMask, you’ll need to connect the wallet to the Binance Smart Chain manually.
How to Connect to PancakeSwap Using TrustWallet
TrustWallet is the official digital wallet of Binance. It is one of the most trusted and secure crypto wallets. TrustWallet is also one of the easiest mobile wallets to use. With TrustWallet, you can easily buy, store, exchange, earn crypto and add custom coins.
TrustWallet allows you to access PancakeSwap or any other supported Swap like Uniswap. You can do this by following the procedures below.
To get started:
1. Download the TrustWallet app from either Google Play (Android users) or App Store (iOS users).
2. Create an account if you don’t have one before. If you already have an account, log in by entering your backup phrases.
3. Navigate to where you have “DApps”. On iOS devices, you will not find this feature. TrustWallet removed the DApps feature for their iOS users in order to comply with the Apple App Store guidelines.
You can read on how to add the DApps browser to TrustWallet on iOS here.
4. After clicking on the DApps browser, scroll down to where you have “Exchanges” and select PancakeSwap. You’ll be redirected to the PancakeSwap homepage (pancakeswap.finance).
5. To connect PancakeSwap to your TrustWallet, click on the “Connect” button in the top right corner of the PancakeSwap website.
6. In the wallet options displayed, select “TrustWallet”. If the connection is successful, you will see your wallet ID instead of the “Connect” button in the top right corner.
Note: You can only connect to PancakeSwap using the TrustWallet option when you are using the TrustWallet mobile app. If you try to connect using the TrustWallet option on a browser, you’ll get an error message.
To connect to PancakeSwap using TrustWallet on a browser, you have to:
1. Go to the PancakeSwap website on your browser and click on the “Connect” button in the top right corner.
2. Select “WalletConnect” in the wallet options displayed.
3. Scan the QR code displayed using your TrustWallet app. To do this, click on the “Settings” button on the app and select “WalletConnect”.
4. Click “APPROVE” in the new pop-up window. If the connection is successful, you will see the beginning of your wallet ID instead of the “Connect” button in the top right corner.
How to Deposit the Coins on Your Binance to TrustWallet
To transact on PancakeSwap (stake, swap, etc.), you need to first have a Binance Smart Chain token. On the main screen of your TrustWallet app where there’s a list of coins, you’ll find Smart Chain (BSC). However, if you can’t find it on the main screen, click the icon on the top right corner of the app, and enable Smart Chain BNB.
When you click on the icon, you will find two BNBs. Make sure you activate “Smart Chain BNB”. The other BNB is the BEP2 BNB and it is different from the BEP 20 BSC, which is the BNB supported by PancakeSwap.
To deposit coins in your TrustWallet from Binance, follow the steps below.
1. Open your TrustWallet app
2. Once you are logged in, click on “Smart Chain”
3. Click on “Receive and then copy the BNB address
4. If you are on a mobile app, go over to your Binance account and navigate to “Wallets” at the bottom right side.
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