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One of the most common ways for people to utilize PancakeSwap is to connect it to a web3 enabled wallet. While there are a few options available, one of the most popular of the choices is to use a web wallet known by the name of MetaMask.

MetaMask is a browser-based plugin which serves primarily as an Ethereum wallet, although you can connect to other networks such as the Binance Smart Chain (BSC). The plugin can be installed in a similar fashion to other software wallets, but most users opt for using the chrome extension as this allows them to use their crypto wallet across devices on mobile, tablet and desktop. 

To even get started using PancakeSwap, you first need to set up a MetaMask wallet and then set it up on the Binance Smart Chain; there are a number of tutorials for this already available on the web. 

In this guide, we’re going to focus on how to connect your MetaMask wallet to PancakeSwap.

How To Connect Metamask To Pancakeswap?

If you already have a MetaMask wallet that is connected to the Binance Smart Chain, then this process is going to be relatively easy for you to set-up and get started.

Connecting MetaMask to Binance Smart Chain

For those of you who don’t currently have a MetaMask which is connected to the Binance Smart Chain, this part of the guide will teach you how to connect it to get started. 

Within your MetaMask wallet, you will need to click the segment at the top that states “Ethereum Mainnet” and then select the “Custom RPC” option.

Once this is done, you will then need to fill-in the required fields with information, luckily, the information you need to fill in is listed below for your convenience:

  • Network Name: Smart Chain
  • New RPC URL: https://bsc-dataseed.binance.org/
  • ChainID: 56
  • Symbol: BNB
  • Block Explorer URL: https://bscscan.com

How to connect MetaMask to PancakeSwap?

In order for you to be able to connect your MetaMask wallet to pancake swap, you must first unlock your wallet through the extension and switch your network to the Binance Smart Chain.

Once this is done, simply head on over to PancakeSwap and hit the “connect” button and select MetaMask to be granted access to the full power of the PancakeSwap platform.

Click the ”connect” button on PancakeSwap and then choose ”MetaMask” to connect your wallet to PancakeSwap.

After you’ve selected the MetaMask option, choose the address (account) to which you wish to link PancakeSwap to and then click the “connect” button on the MetaMask notice.

(alternatively, mobile version users can simply use the WalletConnect option to connect)

So, now you’ve got that part all set up, how do you actually use PancakeSwap? What do you need to have in your wallet already? The answer to this is BNB. Since you will be utilizing a Binance Smart Chain dapp, you need to ensure your wallet has sufficient BNB in it to pay for transaction fees.

You can send BNB from exchanges such as Binance over to your MetaMask, this also works for sending CAKE too, which is the primary token used on the platform.

Read more: Guide For Staking Pancake Token

How to send CAKE from Binance to MetaMask? Add CAKE to MetaMask

So, if you’re positive that your MetaMask wallet is connected to the Binance Smart Chain Mainnet already, you can send CAKE from Binance to your MetaMask wallet with relative ease. 

If you accidentally send CAKE to your wallet without being connected to the BSC network, don’t worry, your tokens aren’t lost. All you need to do is connect it as mentioned earlier and you’ll be able to see it again.

Now, to transfer CAKE from the Binance exchange over to MetaMask you need to make note of the address of your wallet, and then make your way over to the withdrawals page on the Binance website or application.

Hit the “withdraw” button that you’ll see on your fiat & spot wallet, and then simply click “crypto” and then select “CAKE”. This is where that address you noted before will come in handy, if you enter it into the “recipient” field and then be sure to send it to the “Binance Smart Chain” network you will then be prompted with how much you wish to send over and can complete the transaction.

There’s a chance that it may not appear straight away within your wallet, this could be for a number of reasons but most commonly it’s because the CAKE token isn’t set-up in your wallet. To set this up, click the “add token” button in your wallet and add CAKE through this contact address:

PancakeSwap (CAKE) Token contract address: 0x0e09fabb73bd3ade0a17ecc321fd13a19e81ce82

Once this has been added as a custom token, you will then be able to access and view the CAKE token under the “assets” tab of your wallet.

It’s also recommended to send over some BNB to your MetaMask wallet too, as BNB is the primary way to pay transaction fees on the BSC network.

Just follow the same steps above to send BNB to your wallet.

How to trade on PancakeSwap with MetaMask?

So, you now have some BNB in your wallet to help cover the gas (transaction) fees within the BSC network, it’s now time to begin with the trading. If you’re using this platform to sell a specific BEP20 token, you can transfer it from other wallets and exchanges to your MetaMask and it will automatically be in your wallet for you.

For the majority of BEP20 tokens available on PancakeSwap, you will mostly be using the likes of BNB, BUSD and CAKE, however there are also some BTCB and ETH pairs available on the platform, too. 

In order to start your first trade on the platform, under the trade menu simply hit “exchange” and choose the token you wish to swap and enter how much, then in the to field, simply choose which token you wish to receive.

Once you’ve chosen the token and amount, you will then be prompted to approve the swap which basically allows the smart contract to spend your token. Upon clicking the approve button and confirming the transaction, you will then be required to pay the gas fee, which thankfully, is relatively low in most cases.

Another prompt will appear named swap which will confirm the transaction on your wallets end. Trades on PancakeSwap will cost a typical 0.25% fee. Before making the trade, you can also modify slippage tolerance as well as transaction deadlines using the settings functionality.

Make sure you check the rates over before confirming the swap. You can use tools like BscScan to see the transaction as it happens. 

How to stake CAKE with MetaMask?

You will need two things to stake CAKE with MetaMask: A MetaMask wallet that is connected to Binance Smart Chain, and CAKE or BNB in your wallet. If you haven’t already, connect your MetaMask wallet with the BSC network. 

Next, send CAKE or BNB to your MetaMask account. Next, go to PancakeSwap to connect your wallet with the platform. Click “pools” to stake CAKE for CAKE tokens or other tokens. To earn more CAKE, you can stake your CAKE. Auto-compounding is available in the auto CAKE pool. There is also a 2% performance fee for each yield harvest.

You can also use the manual CAKE pool if you only plan to stake your CAKE once or twice a year. APR and APY differ in that APR includes compounding, while APY does not. This is why the auto CAKE pool has a higher rate return.

If you stake your CAKE in a manual CAKE pool and compound frequently, the APY should be comparable. You can check the calculator icon beside the manual CAKE pools’s APR.

To stake your CAKE you must first click on the “enable” button to allow smart contracts to use your token. As a transaction fee, it will cost you very little BNB. This is similar to approving a token prior to making a PancakeSwap swap. You can now stake your CAKE in this pool by making an “enable” transaction as shown in the image below.

Click on the “stake” button to enter the amount you wish to stake in the pool. You can stake as little or as much as $9 USD in CAKE. Once you have entered the amount, click on the confirm button to confirm the transaction via the MetaMask notification.

You can now see how much CAKE you have staked in the pool, and how much CAKE you have earned in real time. It might take some time for CAKE rewards to appear in the pool if you stake small amounts of CAKE.

To compound or harvest your CAKE rewards, you can click on the “collect” button. You can compound your reward if you want to continue earning CAKE. The staked amount and CAKE reward will determine how often you compound your CAKE rewards. You shouldn’t compound small amounts as you will have to pay transaction fees.

You can use the plus and minus buttons to remove your CAKE from the pool or add CAKE to it.

How to add liquidity to PancakeSwap with MetaMask?

MetaMask allows you to add liquidity to PancakeSwap and earn swap fees. To earn CAKE, you can also stake your tokens of LP after adding liquidity to PancakeSwap.

Three things required to add liquidity to PancakeSwap using MetaMask are as follows: A MetaMask wallet that is connected to the Binance Smart Chain, existing BNB in your wallet to cover transaction (gas) fees and two tokens of equivalent value, for example $50 CAKE and $50 BNB.

Once you’re satisfied, go to PancakeSwap and connect your MetaMask wallet with the platform. Click “liquidity” in the trade menu. To add liquidity to PancakeSwap, click on the “add liquidity” button.

Select the pair, then enter the amount you need for one token. The protocol will calculate the cost for the other token based on the price.You must first click on the “approve token” button to supply liquidity for the protocol. Then, confirm the transaction in your wallet.

To add liquidity to the token, approve the token by clicking the “supply” button. Click on the “confirm supply” button to confirm the transaction in your MetaMask account. There is no need for you to increase the gas price as transaction fees on the BSC network are already extremely low.

You can remove PancakeSwap liquidity by clicking on the “remove button” button. You should first unstake your LP tokens if you want to earn CAKE.