Buying a coin or token on a decentralized exchange is nothing like that of a centralized exchange where everything is set in place for you to trade. There are a few crucial tasks to complete before a swap or trade can take place on a DEX (decentralized exchange).
Buying a coin on any DEX requires the native token of the smartchain that powers the platform in order to cover for things like gas fees. As Ethereum is required to pay for fees on Uniswap or other Ethereum based DEXes, so is Binance BNB (BEP20) coin needed to pay for fees on PancakeSwap. In this guide, we’ll show you step by step how to buy CaliCoin on a decentralized exchange like PancakeSwap.
Please feel free to skip any step that you’re familiar with.
Crucial Steps Mobile Phone
1. Download the Trust: Crypto & Bitcoin Wallet app from the app store (on iOS or Android). If you already have a Metamask wallet please skip to this section instead
2. Open the app and tap “CREATE A NEW WALLET”. Review the Privacy Policy and Terms of Service. Tick the box next to “I’ve read and accept the Terms of Service and Privacy Policy” and continue
3. Next, the app will show you your 12 recovery words in a sequence, copy and save them in the same order. Click next and tap the words in the right order as shown previously and click continue.
Note: Your recovery phrase is like the passcode to your bank account. Anyone with access to your recovery phrase can access your wallet from anywhere in the world and move funds as they want. Please keep it SAFE.
4. Your brand new Trust wallet is now active. Navigate to “Smart Chain (BNB)” and open it, copy the receive address and fund your wallet from other platforms where you have BNB tokens (only use BEP20 network) OR tap “Buy BNB” as shown in screenshot 2.
5. Input how much money you’d like to invest in USD (the amount in BNB will be shown below the USD figure) and hit “Next
6. You’ll be taken to simplex website to complete the purchase with a credit or debit card (debit card is recommended for lower bank fees). If your payment did not go through, call your bank to unblock your card.
7. Fill the required KYC with a valid ID and email, and hit submit. Wait a few seconds to receive a payment submission email and a few minutes for a payment approval email from Simplex.
8. Head back to your Trust Wallet and you should see your Smart Chain BNB safely in your wallet now.
9. Tap on DApps from the bottom menu and click PancakeSwap from the “Popular” category.
Note: The Dapps option was recently removed on Apple devices due to Apple regulations. If you’re an iPhone or iPad user, please skip the following steps and follow this guide instead.
10. Tap “Connect” to link your wallet with PancakeSwap, then select Trust Wallet from the list.
12. Copy the CaliCoin contract address (0x6ae6404841d99669069607bc892ae9eab939fc7b) if you haven’t already. Go back to PancakeSwap, tap on the “Select currency” tab and paste the contract address you copied, then click import.
Tap the “I understand” check icon and click “import” again. Enter the amount of BNB you want to invest or tap “MAX” to invest all. Click the “Swap” big button below.
Click “Confirm Swap” and then, click the blue “Approve” button. Wait a few moments for your transaction to be processed.
13. Finally, your tokens may not appear in your wallet automatically, so to add them to your wallet, tap the filter icon at the top right and paste CaliCoin contract address again, CaliCoin $Cali should appear, simply turn on the toggle button at your extreme right and your tokens should be visible in your wallet now.
Crucial Steps MetaMask (PC)
1. Open MetaMask and click on the network selector at the center top. By default it will show “Ethereum Mainnet”. Scroll to the bottom and click Custom RPC. A window will open. Type in the details below.
Network Name: Binance Smart Chain
New RPC URL: https://bsc-dataseed.binance.org
Chain ID: 56
Currency Symbol: BNB
Block Explorer URL: http://bscscan.com
2. Make sure you’ve typed everything in correctly and click Save. Binance Smart Chain will now be one of your network options.
3. Visit the PancakeSwap website. In the top right corner you’ll see the Connect button. Click it.
4. A window will appear asking you to choose a wallet to connect to. Click MetaMask (it’s the top option on the list)
5. Now you can go ahead and fund your MetaMask with some BNB (BEP20) tokens from your other wallets, then copy the $CALI contract address and start trading as you would on Uniswap.
Please Note: Always select BEP20 as the preferred network when sending BNB tokens to MetaMask
Congrats! You’re now a proud investor of $CALI.