Hello Steemit:

Assalam Alaikum, How are you all, hope you all are doing well. So today, after attending Professor @yousafharoonkhan lecture on different wallets and exchanges like Trust Wallet, MetaMask, Uniswap, and PancakeSwap & How to link Binance Smart chain wallet to Binance exchange. I learned many important things about these types of exchanges and wallets for cryptocurrencies exchanges and trading.

Let's start with the answer to the given questions,

Question no 1:

What is Liquidity in PancakeSwap Explain with examples? and add Liquidity in PancakeSwap and explain all the steps with a screenshot. (explain in your own words)

Liquidity:

Liquidity is a term defined as the ability to buy or sell assets in the market without causing a drastic change in the assets price.
Liquidity has two different types,
Liquid Market and Liquid Asset.

A liquid market means that there are always investors in the market willing to trade.
A liquid asset refers to an asset that can be easily converted into cash.

In cryptocurrencies, as we know we are free to buy any token at any time and then wait for the price will go up and give us a good profit.
In order for this to be possible, the market you are trading in must be liquid, which means there must be a high trading activity, and the bid and ask prices must not be spread too far apart.

Example:

Let's take an example from a seller's point of view,
Babar has 5 tokens of a certain cryptocurrency and the price for his token has increased in the past few days. Babar is happy and wants to sell quickly for the current market price and make some good profit.
If the market is liquid that means there are enough buyers that are willing to buy Babar token's for the price he is asking and Babar is able to sell his assets quickly and sell at the price he wants But if a market is illiquid then there are not enough buyers in the market who are willing to buy Tokens.
The main things which tell if a market is liquid are,

• 24 Hour Trading volume.
• Order book depth.
• Bid/ask.

Add Liquidity in PancakeSwap and explain all the steps with a screenshot.

In these steps, you will add liquidity in pancakeSwap,

Step 01:
First of all, connect your wallet to pancakeSwap exchange. I connected Trust Wallet to pancakeSwap.

Step 02:
Then click on TRADE and then click on LIQUIDITY.

Step 03:
Then click on ADD LIQUIDITY.

Step 04:
After that, select the coin. Click on SUPPLY.

Step 05:
After that click on CONFIRM SUPPLY.

Step 06:
After that click on APPROVE. It will cost some fees.

In this way, liquidity is added to pancakeswap.

Question no 2:

How to connect Binance exchange account with Binance smart chain or trust wallet. Explain all the steps through a screenshot. And transfer any coin from Binance exchange to Binance smart chain.

In these steps, you will easily connect your Binance exchange account with Binance smart chain.

Step 01:
First of all, you need to log in to your Binance smart chain. Click on UNLOCK after entering your password.

Step 02:
Then this interface will appear to you, click on THREE DOT BUTTON.

Step 03:
Then click on the WALLET DIRECT button.

Step 04:
Then a new window appears on your screen. Then click on ****VERIFY AND CONNECT MY ADDRESS**.

Step 05:
After that, you have to enter your email and password on an official exchange of Binance. Click on LOGIN.

Step 06:
After entering the login details of the Binance account, Click again on VERIFY AND CONNECT ADDRESS.

Step 07:
Then you have to tick on DO NOT ASK AGAIN and then click on I UNDERSTAND*.

Step 08:
hen you have to pass security verification. These are the steps required to verify your account.
Then another interface will appear to you. Then click on CONNECT TO WALLET.

Then click on CONNECT.

Then click on SIGN IN WALLET.

Then click on CONFIRM.

Then in the last click on BIND.

Then enter the email and phone verification code and click on SUBMIT.

Step 09:
In this way, you are able to connect your Binance exchange account with Binance smart chain.

And transfer any coin from Binance exchange to Binance smart chain.

In these steps, you will easily transfer any coin from Binance exchange to binance smart chains.

Step 01:
Login to Binance smart chain. Then click on RECEIVE.

Step 02:
Then I clicked on the copy button from which the address is copied.

Step 03:
Then I go to Binance account and then click on Dogecoin. Then click on WITHDRAWAL.

Step 04:
Then paste binance smart chain receiving address and then enter the amount of doge which I want to send. Then click on WITHDRAWAL.

Step 05:
Then click on CONFIRM.

After the two-step verification, doge coins are transferred to Binance smart chain.

Question no 3:

What is the difference between Trust Wallet and Metamask and which of them is better and why? Explain in your own words.

Difference Between Trust Wallet and Metamask Wallet:

Trust Wallet	Metamask Wallet
The main difference between both is Trust wallet is connected to Binance blockchain.	Metamask is connected to Ethereum Blockchain.
Trust wallets are connected to all deffi exchanges that are supported by Binance smart chain.	Metmask wallet is connected to all deffi exchanges that are supported by the Ethereum blockchain.
Trust wallet has a mobile application only.	While Metamask has both mobile and web applications.
You can easily buy or sell any coin by connecting the trust wallet to any exchange.	Just like Trust Wallet, Metamask wallet have also similar functions.
Trust wallet is safe and easy to use.	Metamask wallet is also safe and user-friendly.

Which one is Better and Why?

In my point of view, the Trust wallet is better in many perspectives. The main thing every new token which was launched just in some days or hours can easily be bought through Trust wallet. Trust wallet supported thousands of tokens while metamask just supported Ethereum blockchain tokens.
While for small investors, the ethereum blockchain is expensive because of its gas fee. Trust wallet is made up on Binance smart chain and the fee of binance blockchain is far less than ethereum blockchain. But the main drawback of trust wallet is that it has only mobile applications while metamask has both mobile and web applications.

Question no 4:

What is meant by PancakeSwap and Uniswap?

PancakeSwap:

PancakeSwap is a decentralized exchange from which users can easily buy or sell any crypto tokens. Pancakeswap runs on the Binance smart chain network. PancakeSwap has supported thousands of crypto tokens. There are many functions provided to the user such as add liquidity to the liquidity pool, swap tokens, stake tokens, etc.

UniSwap:

Uniswap is also a decentralized exchange that is commonly used to buy and sell tokens. UniSwap runs on the Ethereum blockchain. That's why Uniswap charges a high amount of trading fee. Uniswap was launched back in 2018 and then many peoples use this exchange more in 2020. It also has many features which attract users to use it such as liquidity, stake, swap, etc.

And what is the main difference between them?

Difference between PancakeSwap and UniSwap:

PancakeSwap	UniSwap
PancakeSwap works on Binance Smart chain network	While UniSwap works on Ethereum blockchain.
The transaction fee has low as compared to UniSwap.	Transaction fee has very high as compared to PancakeSwap.
You must have BNB smart chain in your wallet to use PancakeSwap for swapping, buying, and selling.	You must have ETH in your wallet if you want to use UniSwap exchange.

Explain the different futures of both.

As we know, both are the decentralized exchanges and the future of both is bright. In my point of view, pancakeSwap is easy to use for small investors because pancakeSwap charges less amount of fee as compared to UniSwap.

But UniSwap has also some features that attract traders such as pool and votes. But the main thing is pancakeSwap has more tokens than UniSwap. Users can buy any newly launched and old tokens whenever they want to buy or sell them.

PancakeSwap has a better planned than UniSwap. PancakeSwap exchange is well organized and has a bright future.

Which of these exchanges is better and why? Explain in your own words.

The answer to this question varies from trader to trader. Small budget trader prefers PancakeSwap exchanges because of there low gas fee. Whale traders want to use reliable exchanges, high fees are not a big thing for them, they just want a secure and reliable platform so they prefer UniSwap.

If you compare the Trading volume of both the exchanges then UniSwap is better than PancakeSwap. In the previous year and now, many peoples prefer UniSwap that's why the Trading volume of UniSwap is greater than PancakeSwap.

Transaction speed is faster in PancakeSwap as compared to UniSwap because PancakeSwap uses a BSC network.

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Question no 5:

How to connect PancakeSwap with Metamask. Explain this with a screenshot.

In these steps, pancakeSwap is connected to the Metamask wallet.

Step 01:
First, go to PancakeSwap official website. Click on CONNECT.

Step 02:
Then click on METAMASK.

Step 03:
Then this interface appears to you. Enter METAMASK PASSWORD and click on UNLOCK.

Step 04:
Then click on NEXT.

Step 05:
Then click on CONNECT.

Step 06:
Then this interface appears to you. Click on APPROVE.

Step 07:
In this way, Metamask connected to pancakeSwap.

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Conclusion:

Cryptocurrency wallets and exchanges play a vital role in the crypto world. Without these two, the crypto world is nothing. Trust wallet and MetaMask wallet are the two known wallets that are mainly used by many traders on daily basis. Both have their own advantages and benefits.
There are also some exchanges that provide an easy platform for traders to buy, sell, swap or stake there like tokens at any time. Some famous exchanges are PancakeSwap and UniSwap.
From this lecture by professor @yousafharoonkhan, I learned many important things which help me in the future.

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This post is plagiarism-free. Hope I answered all the questions correctly. And pictures I upload in this homework are mine which are screenshots taken by me. Thank you for reading.

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Special Thanks to,

@yousafharoonkhan
@steemcurator01
@steemcurator02