Note: If you experience issues anytime during the tutorial then you can ask questions on the Caribbean Investors subreddit. This article was written for educational purposes and should not be considered financial advice. If you don’t know how to purchase crypto currencies then check out my other article.
Introduction
Is there a coin you want to buy but it isn’t listed on any major exchange like Binance? Well then, this article is for you. PancakeSwap is a DEX (decentralized exchange) that a lot of newly created coins get listed on. A common strategy that crypto investors use is to buy a coin that they think has potential from a DEX like PancakeSwap before it gets listed on major exchanges. I will be using Foki Inu for this tutorial since it is currently not listed on Binance.
Buy TRON on Cex
Go to Cex.io and purchase some TRON. Note: I will be using the website for this demonstration but the mobile app is easier to use in my view.
After selecting Buy you should see a confirmation screen like the one below.
Now that we have TRON it is time to transfer the amount to Binance. Select Finance from the navigation bar on Cex then scroll down until you see TRX. Select Withdrawal.
Note: It is advised to send a small amount at first to confirm the address. Enter the amount you wish to withdraw and paste the recipients address(your TRON Binance deposit address) in the bar.
The withdrawal usually takes a couple of minutes. Once that is complete, you should see the amount reflected on Binance. Note: It costs 50 TRX to send TRON from CEX to Binance.
Buy BNB on Binance
After you sign in on Binance, hover over Wallet then select Fiat & Spot. Note: The Binance app is really good and I highly recommend it but I will be using the website for this demonstration.
Now hover over Trade then select Convert. Select MAX(or any amount of your choosing) Preview Conversion then Convert.
Once the conversion is complete, go back to Wallet > Fiat & Spot. Congratulations! You now have BNB.
Using MetaMask on PancakeSwap
Create a MetaMask Wallet. Ensure that you write down your seed phrase in a secure location, It will be needed whenever you have to restore your wallet. Also, ensure you create a secure password. I will be using the Chrome Extension for this tutorial(recommended).
Once Sign up is complete, click the MetaMask extension in your browser then select Ethereum Mainnet. Select Binance Smart Chain from the dropdown menu.
Copy the address of your account.
Go back to your BNB on Binance then select Withdraw.
Paste the address in Binance and Withdraw.
It will take a few minutes for the transaction to show in your MetaMask Wallet.
Buying Floki Inu on PancakeSwap
Now go to PancakeSwap and select Connect Wallet. You may be prompted to enter your MetaMask password.
Now that your wallet is connected, select Trade then select the BNB and Floki pairs.
Enter the amount of BNB you wish to swap for Floki then select Swap. You should see a confirmation screen. Select Confirm Swap once you are satisfied with the information.
Due to the high volatility of the coins, your swap may not go through. Take a look at this video to see a solution.
If all goes well, a confirmation screen will pop up on MetaMask where you will be presented with some additional details.
Note: You may have to import Floki Inu into MetaMask in order to see it under the Assets section. After the confirmation, an Import Floki button will appear. That is it! You are now the owner of Floki Inu coins🎉🎉🎉.
Love the article? Consider sharing it with a friend or fellow crypto enthusiasts. You can also consider donating ADA or buying me a coffee.
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