PancakeSwap is one of the most popular exchanges on the Binance Smart Chain. Users have flocked to it as a reliable alternative to other big decentralized exchanges (DEX). However, there are some queries among users that could do with some clarification.
One such question is how users can transfer their crypto from Binance, a centralized exchange (CEX), to PancakeSwap, a decentralized exchange.
It is relatively easy to do this. Users only need to get the hang of navigating through the platform.
A user does not require a registered account on PancakeSwap to make crypto transactions. This is in contrast to most major centralized exchanges. A user only has to link their cryptocurrency wallet to PancakeSwap to start moving cryptocurrency across numerous domains. By using Binance Bridges, customers may transfer money from other blockchains to PancakeSwap.
How to transfer from Binance to PancakeSwap?
Users can follow the following steps to transfer their holdings from Binance to PancakeSwap.
- Use Binance to convert your cryptocurrency to BNB and add it to your MetaMask wallet. For this, you’ll need to integrate MetaMask with the BNB Smart Chain. To do this, a user must go to Trade -> Convert -> Input and choose BNB as the “to” option and the coin they just deposited as the “from” option.
- Utilize PancakeSwap’s login to link MetaMask to PancakeSwap.
- To start the connection, select Next and then Connect.
- Your MetaMask address will then be shown in the notification window.
- Users may exchange their BNB for other cryptocurrencies by choosing Trade -> Exchange on PancakeSwap.
Following these steps should make it relatively easy to transfer funds to and from Binance and PancakeSwap.
Recently it was announced that PancakeSwap is holding a vote to reduce CAKE emissions to farm pools by 11%. The voting is still open and will conclude on the morning of June 25th.
At press time, CAKE was trading at $3.23, up by 3.5% in the last 24 hours and 12.8% in the previous seven days.