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Fast speed and low fees are among the main priorities when exchanging cryptocurrency. The decentralized cryptocurrency exchange PancakeSwap boasts the aforementioned advantages and is always ready to assist in token exchanges on the Binance Smart Chain network.
In this article, we will explore the main features offered by the cryptocurrency exchange PancakeSwap, as well as discuss how to use it.
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About the Cryptocurrency Exchange PancakeSwap
PancakeSwap is a decentralized (DEX) cryptocurrency exchange that operates on the Binance Smart Chain (BSC) network. The platform has its own token, CAKE, and serves as an alternative to Uniswap and SushiSwap. Unlike these Ethereum-based exchanges, PancakeSwap offers fast transactions and low fees thanks to operating on the BSC network.
The platform was launched in early fall of 2020 by an unknown developer with support from Binance. By February 2021, PancakeSwap became one of the largest exchanges in the DeFi segment by trading volume, and in March, it surpassed Uniswap in total value locked (TVL) – $4 billion compared to $3.73 billion.
As of the writing of this article, PancakeSwap is in the TOP-3 DEX exchanges according to CoinMarketCap.
The exchange has passed the CertiK audit and is integrated with all its security tools: Security Oracle, CertiKShield DeepSEA, and The CertiK Virtual Machine. The results of the CertiK audit can be reviewed on this page. The platform also underwent a Slowmist security audit.
These checks help to understand that the service is not a scam and does not have obvious vulnerabilities, but they do not guarantee the platform's security, as proven by the DeFi protocol and PancakeSwap lottery hacks that occurred after the CertiK audit. Therefore, be cautious when using any DeFi applications, including PancakeSwap.
You can connect to PancakeSwap using:
- Metamask;
- Binance Wallet;
- Coinbase Wallet;
- WalletConnect;
- Opera;
- MathWallet;
- TockenPocket;
- Coin98;
- Blocto;
- Safepal;
- Trust Wallet.
What Features Does PancakeSwap Offer
To keep this article from being too long, we have decided to write about the features offered by the PancakeSwap exchange under a spoiler, so click on the "+" to familiarize yourself with the information.
Instructions for Using PancakeSwap
We have prepared a series of instructions for using the decentralized cryptocurrency exchange PancakeSwap for a quick start.
Conclusion
As of today, PancakeSwap is one of the most actively developing DEX cryptocurrency exchanges. Thanks to operating on the BSC network, transactions are faster and require lower fees compared to competitors on the Ethereum network.
If you need to exchange tokens on the BEP-20 network, the cryptocurrency exchange PancakeSwap will be an excellent option for this.
Write in the comments: have you used the cryptocurrency exchange PancakeSwap? Share your impressions with our partners.
We hope this article was useful to you. We wish everyone successful and profitable investments!
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