Pancakeswap?

[jerry0]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

[bitkanu]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.

Those tokens have small liquidity and im sure that those tokens are not reliable to be listed on cex. Majority of new tokens are using dex like pancake to trade its token. Low liquidity token means it will be very easy to be pumped and dumped by buyers and sellers.

So basically if you want to trade these coins, you have to get account there? 

You need to have account on metamask and your metamask must have connected to the BSC RPC to be able to connect into the pancake swap. When you wanna try to connect into the uniswap and your metamask must use ethereum main net RPC. Pancake and uniswap already built in the different network. https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain

But how are the fees? 
Do you need ETH for this? 

If you are using ethereum (uniswap) and you need ethereum as fees to trade on the dex and when you wanna use pancake swap and you need BNB to pay the fees.

BTC is no use for those exchanges?

No for native BTC but yes for wrapped BTC.

[cryptoaddictchie]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

No need you just need a decentralized wallet that is supported while connecting to those dex. Most of the project listed can be traded there especially on pancakeswap and uniswap. However not sure if cross exchange swap are applicable with various chain but some already doing that.

[vv181]

Can someone explain to me this? ~

So basically if you want to trade these coins, you have to get account there? 

The tutorial to setting up a wallet, trade the tokens, and connecting your wallet into the exchange(Pancakeswap) are available on their documentations page, you should refer to it since they cover pretty much all the information you need.

• Setting up PancakeSwap
• How to Trade
• https://docs.pancakeswap.finance/

But how are the fees?  Do you need ETH for this?

The fee is 0.25% per trade and you need BNB.

[livingfree]

So basically if you want to trade these coins, you have to get account there?  Do you need ETH for this?

Just have to connect your metamask wallet. Uniswap for eth and pancakeswap for BNB/BSC.

BTC is no use for those exchanges?

Right.

You have to exchange it first for any of those supported and listed altcoins there. I've traded for both exchanges and they're good to me. Just transfer and trade your profit for btc if you want to and vice versa if you want to trade.

[Ararbermas]

So basically if you want to trade these coins, you have to get account there? 

there's a wallet connect feature mate for all token holders that wants to swap their token in easy way, wherein no need to set up an account in order to used that site.

Do you need ETH for this?  BTC is no use for those exchanges?

Pancakeswap swap is built on BSC network not ethereum,but you can use Binance Bridge to wrap your erc20 token.

[Wahyuihib]

pancakeswap and uniswap exchanges are DEX exchanges. so it's an instant exchange that doesn't require the user to register and so on. so if you want to trade on these two exchanges we only need bnb for pancakeswap and eth on uniswap

[magneto]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

You don't need an account to trade on AMMs.

Essentially, the reason is that low market cap coins are the ones that are likely to make the most gains, especially the memecoins. These coins are not going to be listed on any centralized exchanges, so the only way that they can be traded is through DEXs.

Pancakeswap is mostly used due to its cheap fees on BSC - that's where all your memecoins are mostly changing hands in.

[MadeMen]

The great thing about using decentralized exchange is that you don't need to register your account. The only requirement is that you have to link your wallet address. Uniswap decentralized exchange is for ERC20 tokens while pancakeswap is for binance bep20 and there's need for ethereum or bnb to serve as the gas fee for each of them.

[danherbias07]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

Isn't pancakeswap and uniswap a dex exchange that doesn't need to create an account and only connects a wallet address? what is needed or prepared when using pancakeswap is only gas according to the token network you want to swap

It needs to connect to a wallet to see your balance of whatever you will trade.
The fastest way I did it when I was new with DEX is using an application called Trust Wallet which if I am correct is also owned by Binance.
Use the Trust Wallet in-app browser to Pancakeswap or whatever dex you prefer, connect it and you can do the exchange as long as the currency you will be trading is available in your wallet.

[asyakashi]

Pancakeswap is a dex swap no account required to trade there, buying meme coins does require swap and costs eth or bnb. However, it's very easy, you don't need to register, you only need a connection from pancakeswap to your wallet, such as metamask.

[Jackl87]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

Well it is not really a big surprise that those coins are just some pump and dump shit coins, that is how those projects work. Such tokens are created in literally 1 hour and a single dude without programming knowledge can do that the only thing that you need is a few 100 $ or a few 1000$ worth of BNB to provide liquidity on pancakeswap. As much as i like the possibilites that Defi brings to the world of finance the downside is that literally everyone can list every shit token on DEXes like pancakeswap.
So they list their shitcoin then only a few hundred dollars worth of buys are enough to make this shit token the top gainer then the crypto noob see that and try to hop on the hype train, but they get rekt of course because after a few hours or a few days that token is dead again and the only one that made a profit is the one that created it and a few friends of him.
So don't buy this projects.

[jrrsparkles]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

Generally fees are insane in the decentralized exchanges and you need to pay the gas fee depends on the token you are choosing to trade or if it's a coin then you will pay on itself. You need to connect your wallet to DEX to start trading and if you don't know how you can find hundreds of tutorials on YouTube like platform.

[adzino]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.
-snip-

Highest net gainers because they have almost so small liquidity that they can easily be pumped and dumped. Look at the trade volume and you will know.

-snip-
So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

Nope. ETH and BTC can't be used. Pancakeswap is a DEX built on Binance Smart Chain network. So you will need BNB to trade tokens. Fees are less than ETH.
You don't create an account over there. You need a wallet like Metamask that you can connect with the DEX. Setup your Metamask wallet to BSC network, connect your wallet to the DEX and start trading.

[Similificator]

A little google search would help a lot but for the sake of having experienced being a newbie like you once, just this once I will indulge you. Shitcoins are most common on exchanges as pancakeswap, apeswap etc., Because they are new. Now by being new, they have low market cap which makes it easier to go up. If they last for a long time there without being listed on a reputable exchange then it's something you should start to be wary about despite some rare occurrences where a coin stays on such exchanges but still continues to build good communities.

By now you probably know that there's no need to create an account on such exchanges so I'll just recommend trust wallet for you since it is easy to use with its multichain function unlike metamask where you have to configure it depending on what the network that the coin you want is in to. Besides, most of shitcoins nowadays are on BSC anyway so fees aren't that heavy for investors or shitcoin hunters. In trust wallet, you can use it's dapps or just use wallet connect option when using a device that does not have your wallet in it. While there are already quite a lot of good and bad wallets here and there,  with personal experience, trust wallet really works pretty well for me which is why I recommend it to you.

[Reid]

If you are having difficulties dealing with DEX's then you could just simply use the exchange. Both the tokens you mentioned are available in Binance and both also have a high volume on the said exchange.
The thing with DEX are wallet are still connected but you don't have the whole profile information about you there. Privacy is intact.
While in Binance they need some of your paperworks and identification being uploaded to maximize your trading volume.

[D ltr]

So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

I think for pancakeswap using BSC and New Union use ETH and there is no instant exchange using the existing BTC fee, we wrap BTC there
and
no need to create an account like an exchange just connect your personal wallet to their priority DEX

[Crypt0Gore]

Can someone explain to me this?  I literally see the daily highest net gainers to be coins like shiba tron which are like meme coins as they call it.  Almost all these coins when i check where its traded is almost always on pancakeswap or uniswap.


So basically if you want to trade these coins, you have to get account there?  But how are the fees?  Do you need ETH for this?  BTC is no use for those exchanges?

Shiba is the meme coin not Tron unless there is meme coin called shiba tron, the truth about shiba inu is it has managed to prove itself as more than just a meme coin, this project now have better partnerships and better use cases, metaverse,swap and play 2 earn in one box, I'm certain that project will survive.

[jerry0]

Okay so the wallet you need to connect to either pancakeswap or uniswap is metamask.  I have heard of this wallet.  However... I have heard lot of hacks with this wallet.  Is that a big concern here?  Also I heard you can use it with your nano ledger?  But if metamask get compromised, then you risk only coins in metamask right?


The thing that has me confused is i hear about bad or malicious contracts with metamask.  So you could get your account drained this way?  But nothing touches your nano ledger coins right?  Thing I also do not understand is what is the point of using metamask with nano ledger if you still have risk of losing coins with metamask?  I thought if you connect a wallet with nano ledger or any hardware wallet, then the risk is gone?  Or its only if you make a mistake?  For example if you get that copy and paste malware and you copy an address and before you send it, you don't look carefully and confirm the transaction on your nano ledger, then its your fault as you clicked confirmed yourself.  Are you saying this is the same with metamask or its different?  When i hear metamask, first thing that comes up to my mind is hacked because that is all i hear about it.  So its basically like myetherwallet so to speak like an online hot wallet?  I remember how there were so many myetherwallets accounts hacked a while back.


Yea i would be considered a newbie when it comes to this.  I have traded a bit on regular exchanges only a little like on binance a while back.  But would you saying these exchanges are more complicated?  You can buy bnb and ETH on those exchanges right?  The other thing im confused is can someone explain why so many coins listed on uniswap shows pairs with Wrapped ETH?  Why is it not just called ETH?  Also you say pancakeswap uses bnb but how comes there is so many BUSD pairs?


Also in these exchanges, I do notice pairs with usdt.  So people would exchange coins for USDT and then withdraw to their own wallet etc?


Also is it easy to get scammed while using these exchanges?  Or does that involve NFT's?  Again I don't know much at all about all these things.  I just know the basics about the regular coins on exchanges like binance, coinbase etc.