Tuto: How to buy crypto-currencies simply and quickly on PancakeSwap?
With this tutorial, you will learn how to use Pancakeswap, the #1 protocol on the Binance Smart Chain, step by step.
Pancakeswap is a DEX (decentralized exchange) for exchanging BEP20 tokens (native to the Binance Smart Chain). Whether you are a beginner or an expert, the user interface is drastically simple, and you will have no trouble getting to grips with the tool!
The main advantage of a DEX is that you don’t need to enter any personal information to use it. A simple wallet is enough to carry out all the processes.
1. Create a Wallet
The first step is to have a wallet compatible with the Binance Smart Chain.
If you don’t have one yet, here is a tutorial we made that explains how to install Metamask and configure it for the BSC:
https://virgo.net/connecting-metamask-to-virgo-token/
Once done, you can proceed to the next step!
2. Buy BNB
You must hold BNB in your Wallet to buy VGOs or any other crypto.
Binance Coin, more commonly known by its ticker BNB, is a utility token specially created for use within the ecosystem of Binance, the largest exchange in the world.
For more details on BNB, it’s happening here: https://www.binance.com/en/buy-BNB
1. To buy BNB, create an account on Binance and follow the link: https://www.binance.com/en/buy-sell-crypto
2. In the top row, choose the currency you want to buy with (Eur, Usd, etc.) and the amount you want to invest. In the lower one, choose the cryptocurrency you want to buy, here BNB.
You don’t have to buy 1 BNB; you can buy decimals of it, ie. 0.056BNB.
Once you have bought BNB, the next step is to send them to your metamask wallet.
3. How do I send BNB to my Metamask Wallet?
1. Go to your Binance account.
2. Wallet tab and then Fiat and Spot section.
3. Down to the BNB line, click on withdraw
4. Select BNB from the top bar. Enter in the address field your address, which you can find on your wallet. You can copy it by cliking on the area highlighted in the image below.
Enter the amount of BNB you want to send to your wallet in the amount field and click on withdraw.
You have just sent your BNBs to your Metamask Wallet!
4. How to buy on Pancakeswap?
You have several ways to use Pancakeswap: With an application that integrates the Binance Smart Chain – BSC (SafePal) protocol or directly from your browser with your Metamask wallet. (integration as a plug-in in your browser). In this case, you will have to add the BSC network to your wallet. In this tutorial, we are going with the second solution.
1. Go to Pancakeswap: https://pancakeswap.finance
2. Authorize the app to connect to your wallet
3. In the top row, choose the token you want to trade (BNB), and in the bottom row, the new token you want to get.
The token you want to buy might not appear in the token list, which is the case for VGO. To make it appear, you just have to copy it’s contract address (0xbEE5E147e6e40433ff0310f5aE1a66278bc8D678) and click on import.
3b. You might see an “Allow” button, click on it and confirm the transaction on the Metamask popup. This action allows PancakeSwap to use the token you want to buy with.
4. Click on Swap. A popup with the amount of gas will appear, validating (or not) your transaction definitively. Remember to check the gas price before validating! Currently, the cost of a BSC swap is only a few cents.
That’s it. You just bought VGOs!
