How To Buy or Sell DEC On Pancakeswap for Binance USD?

over 2 years ago (Edited)

One of my good friends asked me - How to buy or sell DEC? So, I decided to make this tutorial for him on how to do it via Pancakeswap. I choose Pancakeswap because most people use Metamask these days and it's easier to buy from Pancakeswap than on Hive-Engine for a new user who doesn't know much about Hive.

What is PancakeSwap?

PancakeSwap is a decentralized exchange that allows you to trade cryptocurrencies and tokens without a centralized intermediary, keeping custody of your tokens all the while. It is built on automated smart contracts deployed on Binance Smart Chain, the blockchain platform run by crypto exchange Binance.

What Is MetaMask?

MetaMask is a popular and established browser extension which functions as a cryptocurrency wallet that connects to the Ethereum or Binance Smart Chain blockchain.

Connect Metamask To Binance Smart Chain

Since DEC is available on Binance Smart Chain (BSC), first you need to add BSC Network in your Metamask. Click on your account avatar and go to "Settings"
Click on "ADD Network" button as shown below:

Here you will find different parameters that would help you connect to a different chain. Enter the details as shown below and click "save":

RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB
Block Explorer: https://bscscan.com

Once connected, Metamask will show "Binance Smart Chain" in the list of Networks. You can select it to login into Pancakeswap.

Buy or Sell DEC On Pancakeswap for Binance USD

BUSD is a U.S.-regulated stablecoin, fully backed by U.S. dollars: 1 BUSD = $1.00 USD. BUSD offers faster ways to fund your trades and is acceptable as a medium of exchange, store of value, and method of payment across the global crypto ecosystem.Binance USD (BUSD) is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) that launched in partnership with Paxos and Binance. .

1.Go to pancakeswap and click Trade Exchange