In the article below, we'll quickly describe the steps necessary to purchase tokens on PancakeSwap (*cough* Urus *cough*).
The contract address for URUS is 0x33a46b5b71f4689ff290da93e08972917a5e6634
Please Note: Urus is a cross-chain token. You can purchase Urus on either PancakeSwap or Uniswap. You can also convert one version into another using BurgerSwap (Click Here For Our BurgerSwap Guide).
Step 1: Find and Create a Wallet
There are multiple wallets that PancakeSwap supports; we personally use MetaMask.
After you install MetaMask, by default, you will be on the Ethereum Chain. We need to modify it to utilize the Binance Smart Chain.
Here is a quick guide on how you can do that: https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
Your wallet address on the Ethereum Chain (ERC20) and Binance Smart Chain (BSC) will remain the same. The main difference between ERC20 and BSC is that BSC utilizes BNB as the main token, and ERC20 utilizes ETH.
Therefore, if you want to purchase any tokens on PancakeSwap, you will have to deposit BNB into your BSC Wallet.
Step 2: Deposit Money To Your Wallet
On MetaMask, it's fairly simple. You click the MetaMask plugin on your Chrome and it will display the wallet address at the top:
In order to trade on PancakeSwap, you will need at least some BNB to pay gas fees. You can purchase tokens with other BEP-20 altcoins, but gas fees will always use BNB.
Please Note: When sending tokens to your BSC wallet, make sure you are sending them over the BEP20 network. If you send ERC20 tokens to a BEP20 wallet, you will NOT be able to access them.
Step 3: Connect Your Wallet To PancakeSwap
Click the "Connect to wallet" in the top right corner
Select the wallet you want to use
Approve the wallet connect
Step 4: Placing The Order
This step is extremely simple. Once the wallet is connected, you'll see a very basic order form like the one below:
To place an order:
Simply select the token you have a balance of in the first section. (We'll discuss how to use contract addresses at the very end if the token does not exist in the dropdown)
Select the token you wish to buy.
Type in either the amount of BNB you want to buy or the amount of token you want to buy.
For example, if I want to buy 50 of the Urus token, I will type in 50 into the second box. But if I want to only spend 1 BNB on however much Urus token, I will type in 1 BNB in the first box.
Click "Confirm Swap"
Your MetaMask wallet will prompt you to confirm the trade.
Click Confirm and it will execute the swap
Once the swap is complete, you'll get a notification that the transaction has been confirmed on the chain. You'll find the token inside your MetaMask wallet. If you do not see your token, you may need to add it as a custom token. See below for further details.
A Few Notes
You can use any BEP20 token to buy another BEP20 token. It doesn't matter what the token is originally pegged to.
For example with USDC to URUS, the first transaction will be to swap the USDC into BNB, and then the BNB into URUS. This is all done automatically for you by PancakeSwap. However, it's always recommended to swap with the pegged tokens as the fees will be lower. In our case, it will be BNB.
Please be mindful of slippage.
Some tokens will not be available in the dropdown list where you select which token you want to buy. This is simply because the network has not updated or the token has not been added to PancakeSwap, Coingecko, etc.. This is normal for new token listings.
To purchase those tokens, you will require their contract address.
For example, you can find URUS's contract address here (both on the page and at the end of this URL)
We can copy and paste this address (0x33a46b5b71f4689ff290da93e08972917a5e6634) in the token selection area and it will automatically add the token and make it valid for selection.