We often get questions around purchasing BSC tokens. This guide will give you a few ways to accomplish that. Here are the components required:
Do you already have BTC/ETH/other cryptocurrency? If YES, you can use Binance to purchase BNB. You can also use Pancakeswap to purchase any BSC token with ETH as well. If you do not have other cryptocurrency yet, you can use Trust Wallet to purchase BNB with a credit card.
Once you have BNB, send it to your Metamask or Trust Wallet. Now you want to convert the BNB to smart chain BNB.
Pancakeswap is a bit tricky to use at first. You will need to ‘Connect’ to your wallet at the top right hand corner of the page. If you are in the browser in your wallet, it should connect automatically. Otherwise, go to Pancakeswap on a browser, click ‘Connect’, then ‘wallet connect’ and choose your wallet.
The top selection is the token you want to use as payment to purchase another token. Select BNB/ETH or whatever token you are using for payment. When selling, enter the token you wish to sell on the top bar.
The bottom bar is where you select the token you want to purchase. You will often need the tokens contract address to find it. You can find the tokens contract address on bscscan or the tokens telegram channel. Keep in mind many scammers put fake contract addresses up for tokens to trick buyers, ensure you have the correct address by verifying in the official telegram.
For example, Aerdrops token contract address is: 0xc7ad2ce38f208eed77a368613c62062fce88f125
You can find more details about Aerdrop here: https://bscscan.com/token/0xc7ad2ce38f208eed77a368613c62062fce88f125
This will include the total number of holders, recent transactions, the wallets, total ownership, total supply, decimals of the token & more
Pancakeswap uses something called ‘slippage’ to cover the tokens tax systems. If you are having trouble making purchases, you can increase slippage by clicking the 3 lines with toggles. You may need to increase all the up to 20%+ depending on the tokens tax systems. This goes for buys & sells
Pancakeswap is also a bit finnicky. Often to get buys and/or sells to go through there are some tricks such as using simpler numbers, decreasing how much you are buying and make multiple smaller buys/sells and even changing the last digit in the token you are purchasing from a 0 to a 1.Once the purchase has gone through you often need to add a custom token to your wallet to see that it’s there. Even if you dont add the custom token, it will still be in your wallet, just not visible. Here’s how to add custom tokens in Metamask & add custom tokens in Trustwallet.
In order to sell some of your aerdrop tokens, you are able to perform this action through Pancake Swap as well. Once you have connected your wallet, select Aerdrop - 0xc7ad2ce38f208eed77a368613c62062fce88f125 - as the "from" token and select BNB as the token you wish to exchange your Aerdrop into. The same rule applies with upping your slippage tolerance and trying to sell a nice round number of tokens.
Once you have converted your Aerdrop into BNB, you can move on to the step of getting the money into your bank account. You can send your BNB from your Trust wallet to a Binance account, sell the BNB on Binance for fiat currency and deposit into your account. Alternatively, you can convert your BNB into either Etheruem or Bitcoin and send it to either www.coinbase.com or www.shakepay.com
Now that you have purchased your tokens, you want to track their value & performance. There are three tools you can use that all accomplish this goal: Poocoin, Gem Protocol & Bogged Finance.
Just like with Pancakeswap, you go to one of those sites, connect your wallet and can view your portfolio/wallet values.
Please visit us in our vibrant telegram community, check out our website and go buy Aerdrop and join the easiest way to start learning Defi!