how to use pancakeswap with coinbase wallet

To utilize PancakeSwap with Coinbase Wallet, users must connect their wallet, fund it with BNB (used for transaction fees), swap tokens via the "Trade" section, and confirm the transactions on both devices for processing.

Oct 30, 2024 at 01:59 pm

How to Use PancakeSwap with Coinbase Wallet

1. Connect Coinbase Wallet to PancakeSwap

• Open PancakeSwap in your browser.
• Click "Connect Wallet" and select "WalletConnect".
• Scan the QR code displayed using the Coinbase Wallet mobile app.
• Confirm the connection on both devices.

2. Fund Your Coinbase Wallet with BNB

• BNB is used to pay transaction fees on PancakeSwap.
• Purchase BNB on Coinbase and transfer it to your Coinbase Wallet.

3. Swap Tokens on PancakeSwap

• Go to the "Trade" section of PancakeSwap.
• Set the "From" and "To" currencies.
• Enter the desired trade amount.
• Review the transaction details and click "Swap".

4. Confirm Transactions

• Coinbase Wallet will prompt you to confirm the transaction.
• Review the details and confirm the transaction on your device.
• The transaction will be processed and the tokens will be swapped according to the specified exchange rate.

Additional Considerations:

• Network Selection: Coinbase Wallet supports multiple networks. Ensure you have selected the correct network for PancakeSwap (Binance Smart Chain).
• Gas Fees: PancakeSwap transactions require gas fees, which are paid in BNB. The fees vary depending on network congestion.
• Approvals: Some tokens may require you to approve the smart contract before making a trade. Follow the on-screen instructions to approve the token.
• Security: Be cautious when using PancakeSwap, as there are potential security risks associated with decentralized exchanges. Use a secure and up-to-date version of the Coinbase Wallet app.