PancakeSwap is easily the most popular dApp on the web
With 3.57M users over the last 30 days, DappRadar has PancakeSwap (PCS) ranked the top decentralized dApp in terms of user count. That is 2.3M more users than second-place Alien Worlds in that same time frame. With so many users and over USD $50B in volume over that 30-day stretch, their NFT market is due for a serious increase in volume. As of the last week, the PCS NFT marketplace saw 2000 traders exchange a cumulative volume of USD $332K. Those are fairly modest numbers and puts it more in the range of Objkt.com and Hic et nunc in terms of size.
Still, it is only a matter of time before this ecosystem grows. Let’s get ahead of the curve and learn how to trade NFTs on PancakeSwap.
1. Connect Your Wallet
First, navigate to pancakeswap.finance, and connect your BSC eligible wallet on the top right “connect wallet” button. This list includes:
If you are connecting a wallet that typically operates on a network that isn’t BSC from this list, like MetaMask for example, you will need to switch to the BSC network. Do this by clicking the Ethereum Mainnet drop down on the MetaMask Popup window, and change that to BSC.
After confirming through your wallet, you are now connected to the PancakeSwap site.
2. Fund your account with BNB and CAKE
After connecting your wallet you will need to fund this wallet with the proper currency to buy NFTs. In the case of PCS, that is $BNB and $CAKE. To see markets where these can be purchased, click here for $BNB and here for $CAKE.
Copy your address from your wallet, and paste that into the transfer address. Send your funds, and within a few minutes, you should be ready to buy your first NFT on PCS!
3. Create your Profile
One of the more interesting features of the PCS NFT marketplace is the profile setup aspect. After connecting your wallet, click “Make a Profile” on the drop-down menu below your wallet.
From here, each new account can min a starter collectible as their first NFT. You can pick from the list of starter NFTs, and the only cost is a 1.0 $CAKE minting fee.
After this, you have just minted your first NFT on PCS!
4. Join a Team
Another aspect of the profile setup feature is the team mechanic of this marketplace. The full mechanics of this feature are not released yet, but you can still sign up for your team.
According to the whitepaper, teams will allow members to join in on team events. Through these events, users will earn $CAKE, NFTs, and more rewards. Currently, you can join the:
- Syrup Storm
- Fearsome Flippers
- Chaotic Cakers
5. Buy an NFT
Next, click the NFT header and decide on what you want to buy. All collections available are verified so there shouldn’t be any worries about buying any scams or rug pulls. After deciding on what collection you want to buy from, you now need to decide what NFT you want to buy.
Make your selection, and click the blue buy button. Sign for the transaction, and as long as you have the proper amount of $BNB, the transaction will be completed in minutes!
To view your new NFT, go over to your wallet in the top right and click “My NFTs”. Your BSC NFTs should appear here, much as ETH ones do on OpenSea.
From here, you can sell, transfer and manage your BSC NFTs. You now know how to trade NFTs on PancakeSwap!
Also, for more great info, join us on Telegram to receive free trading signals.
Above all, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
