Hello to my friends who love life and keep smiling despite all kinds of negativity. In this article I will tell you about the recently popular "PANCAKESWAP".

The information you will read is the experiences I have gained as a result of my own use ...

Primarily, PancakeSwap uses the Binance Smart Chain network. I recommend you to review my article on Binance Smart Chain ...

What is PancakeSwap?

PancakeSwap (CAKE) is one of the top liquidity providers in BSC in terms of clearing volume, active users, and gas fee contribution to the BSC ecosystem. The unique gamification program distinguishes PancakeSwap from other AMM protocols, providing stronger incentives for user engagement and more token use cases.

In my previous article dated 19.02.2021, the total value locked on PancakSwap was $ 2.177 billion, and $ 3.57 billion at the time of writing my article. 63% increase in 4 days. Isn't it amazing?

Let's take a look at how it is used… My friends who used platforms like Uniswap before will not feel strange. There is only a simple but important detail… Easy system of new user friends
will be able to use.

Above, you can see the wallets defined by the connect button on the top right of the PancakeSwap page. You can login with one of these.

Important Note: These wallets must have Binance Smart Chain network defined. You can click for the description detail about Metamask… Since Binance Chain Wallet is predefined, you will not have any trouble.

I made my transactions on Binance Smart Wallet. I had no trouble.

Important Note: Since the PancakeSwap system is used very intensively, you can wait during the operations from time to time. Be patient. If you get the warning after pressing the buttons and the confirmation process, wait… If you cancel and get bored halfway through the transaction, you may have to pay gas fee again .. Therefore, you should be patient…

The first thing you need to do is to have Binance Coin, BNB in ​​your wallet. Because gas and transaction fees are collected in BNB.

TRADE

Exchange

With Trade, you can exchange the hedgehog in your wallet with any cryptocurrency you want. Gas charges are very low.

Liquidity (THIS IS THE IMPORTANT DETAIL)

Here, you need to balance the cryptocurrency pair you will make Farms. First you need to look at the Farms cryptocurrency pairs. Sample;

I want to make the REEF-BNB pair Farms. First of all, you create an LP Staked to use in PancakeSwap Farms with Liquidity. (Special for each cryptocurrency pair)

FARMS

Here you can make Farms with hundreds of cryptocurrency pairs. As a result, PancakeSwap is awarded to you.

Sample; I made farms with REEF-BNB LP.

You are using REEF-BNB LPs you made with Liquidity.

So you start Farms. You receive your reward in the PancakeSwap token CAKE. You can get the Harvest button ike to your wallet. You can also add, reduce and close the transaction at any time.

Important Note: It may create a risk in your investment depending on market conditions. If you don't want to risk, here's POOL

POOL

In this section, you earn rewards by depositing the cake tokens in your wallet to the cryptocurrency you want. Here you can add and decrease, cancel the process. It is the most risk-free method.

IFO

This section is similar to the Binance exchange's Launchpad. The new cryptocurrency previously announced is distributed according to the CAKE rate you deposit within one hour. With CAKE tokens in your hand, you can make current at a very affordable price. Afterwards, you can convert it to another cryptocurrency with Excahange, make Farms or evaluate it in the pool.

Yes, my friends, I hope I gave you some information about PancakeSwap. In particular, the fact that gas fees are very low compared to the Ethereum network, Binance smart Chain supports new projects and these projects are included in PancakeSwap is a very important factor for the development of the system.

It is not investment advice. I shared my experiences with you. You can learn the system with a small amount of cryptocurrencies.

I repeat because of the interest in the system, you can wait during the process… Be patient…

As I always said, listen to everyone, decide for yourself ...

I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch… Take care of yourself so that you and the people around you are happy…