PancakeSwap – how does it work?
First of all, let’s understand what Pancake swap is. It is a DEX exchange on the rather popular Binance Smart Chain, providing users with tools for earning and simply exchanging BEP-20 tokens. The platform acts as an AMM or automatic market maker. In other words, when trading virtual assets on PancakeSwap, an order book is not kept in which you are compared with other trading participants. Instead, it trades through a pool of liquidity.
Each liquidity pool is filled with user funds. People pour their assets into the pool, and in return they receive liquidity provider (LP) tokens. With the help of LP tokens, you can return your share of the invested funds and receive part of the trading commissions.
In other words, users get access to BEP-20 token trading and reward liquidity supplies. In addition, there are a number of additional ways to make money on the site – we will talk about them in more detail below.
It is also worth noting that liquidity tokens on the Pancake exchange are different. For example, if you added BUSD and ADA to the pool, then you will be given BUSD-ADA LP tokens. And if you add BETH and doge to cake, then BETH-ETH LP will appear on your account instead.
How do I use PancakeSwap?
The main functions on the platform are farming, staking, swaps and liquidity pools. Lotteries and IFO (Initial Farms Offer) from Pancake Swap are also available to users. We will briefly discuss how to use these tools below.
Farming on PancakeSwap
Farming will require LP tokens that were issued to the user as a reward for the supply of liquidity. To start the farming process, go to the “Farms” section and select a pair of tokens that you deposited when you delivered liquidity. Then click on the “Approve Contract” button. The card for each pair contains the annual interest rate (APR) and a calculator for calculating pancake-farming income for a certain period (day / week / month / year). If you have already accumulated a certain amount of CAKE tokens, then you can pick them up at any time by clicking on the “Harvest” button.
Exchange Dogecoin to Privat24 UAH
In the table you can see a number of exchangers, any of which makes a manual or automatic exchange. Cryptocurrency Dogi coin → Privat Bank card 24 hryvnia. When choosing an exchange site, also pay attention to special labels sometimes indicated next to their names. To quickly go to the exchange site, click once on the line with the name of the exchanger. If you have made a transition to the website of the exchanger and noticed difficulties with the exchange, you need to contact the operator of the exchanger site. Perhaps there were some difficulties and at this stage of the operation of the Dogecoin (DOGE) automatic exchange site for Privat UAH 24 is not available, then you should be offered a manual exchange. If the exchange office you have chosen has not managed to change the Doge coin cryptocurrency to Privat Bank 24 UAH, please notify us. With this currency exchange system from the list.
Please note that when you go to exchange offices from our monitoring system, the Dodgecoin → Privat24-UAH courses are more interesting than when you enter the address manually. Electronic instructions from the FAQ section. Read more info here: crypto exchange online – Letsexchange.io
Use to accurately calculate the amount given or received. You can study courses and reserves in detail at any time. You will receive a message by email or Telegram. In the absence of an exchange, using the function you will find the best option for two exchanges through a transit currency.
Reliability of exchange offices
Each of the exchange offices present on our website was thoroughly checked before adding, with this team Best Change continuously monitors the proper fulfillment of their obligations. The use of monitoring allows you to increase the security of operations carried out in exchange offices. Please pay attention to the reviews of other users, the size of reserves and the current status of the exchanger on our monitoring.