Crypto Academy / Season 3 / Week 3 - Trust wallet,Metamask,Uniswap & PancakeSwap,How to link Binance smart chain wallet to Binance Exchange- Part 2

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

Liquidity in PancakeSwap is a means by which an investor is been permitted to acquire a liquidity in the Liquidity pool, this happened when an investor add his token to he liquidity pool,the investor will receive a liquidity pool token. Let us that for example an investor deposit BNB/CAKE into a liquidity pool, the investor will receive LP tokens in his wallet as BNB/CAKE token as a reward for the deposit made. Investors providing liquidity is the main reason of the AMM,and tis is the reason PancakeSwap rewards liquidity provider with it token, known as CAKE.

For example when a users provide 60 liquidity pool it represents 60 CAKE with 60 BNB token. This means that 1 liquidity token is equal to 1 CAKE plus 1 BNB also that the user will receive. And also 60 CAKE can be trade for 60 BNB vice versa in doing this the user will earn 0.17 percent as a rewards.

Adding Liquidity in PancakeSwap

Liquidity can be added to PancakeSwap using the step below:

Step 1: On Trust wallet click on DApps and search for https://exchange.pancakeswap.finance/#/pool

Step 2: Click on Add Liquidity

Step 3: Then select BNB as your currency at the top and select CAKE for the input below.

Step 4: Now Choose the amount of token below the input.

Step 5: Click on the Approve CAKE

Step 6: After you have click on Approve Cake you will be ask to Supply, click on Confirm Supply

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

Connecting Binance exchange account with Binance smart chain or trust wallet isn't too difficult, all you have to do is to follow the step that I used in connecting my Binance exchange account with my Binance Smart Chain Wallet below.

Step 1: After unlocking my wallet. I then click on the three (3) dots sign that is indicate with yello color to explore more options, before clicking on Wallet Direct.

Step 2: I then clicked on the Bind button to Verify and connect my address.

Step 3: Now at this point my Binance account was successfully connected to my Binance Smart Chain Wallet. And after it was successful connected my balance details was shown.

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How to Transfer from Binance Exchange to Binance Smart Chain wallet

Step 1: I Login to my Binance Smart Chain and click on withdraw tab. Then I input the amount as 0.03 BNB.

Step 2: After I have input the receiver address and the amount I then click on withdraw, I clicked on Continue.

Step 3: I then clicked on complete and my withdrawal request was successfully submitted.

Step 4: After I clicked on complete 0.0295 BNB was successfully received in my account as shown below.

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What is the difference between Trust Wallet and Metamask and which of them is better and why?

The difference between Trust Wallet and MetaMask is discussed below:

Trust Wallet	MetaMask Wallet
Trust wallet is connected with Binance Smart Chain (BSC)	MetaMask wallet, is connected with Ethereum network
Trust wallet has a low transaction fee compare to Metamask wallet	MetaMask Wallet has a high transaction fee
Trust wallet is user Friendly	MetaMask isn't user friendly compare to trust wallet
Trust wallet make use of private key phrase as security	MetaMask make use of EEC2 for storing users keys locally.
Trust wallet can only be used on mobile phone unless it's connected to BSC before it can be used on desktop	MetaMask can be used both on mobile phone and desktops

Trust Wallet is considered a better wallet to me. The reason is that trust wallet has a low transaction fees when it comes to buying and selling of cryptocurrencies which is what investors is looking for. Also trust Wallet support the used of DApps and Smart Contract and it's users friendly.

What is meant by PancakeSwap and Uniswap?

PancakeSwap

PancakeSwap can be defined as a decentralized exchange that permit users to swap any cryptocurrency they wish to swap that is built on the Binance Smart Chain. PancakeSwap allow the used of automated market maker (AMM) to enable users transact they digital assets automatically as against the use of central other book system that depends on the prices of buyer and seller. PancakeSwap is depends on the liquidity pools of user. Once token is been provided by user PancakeSwap will make used of the asset that is provided from the pools to initiate trades.

Uni-swap

This is a Decentralized exchange platform that is similar to PancakeSwap, that support the used of automated liquidity pool. Uniswap was launch in 2018, with the Support of Ethereum blockchain which is used for swapping of ERC20 tokens. Uniswap required users wallet to be connected to it platform before user can perform swapping of they assets. Uniswap also make used of the Automated Market Maker to quote prices of buyer and seller.

And what is the main difference between then

The main difference between PancakeSwap and Uniswap is briefly stated below in a tabuler form.

PancakeSwap	Uniswap
PancakeSwap functions on Binance Smart Chain (BSC)	Uniswap functions on Ethereum network
PancakeSwap has a low transaction fee	Uniswap has a high transaction fee
PancakeSwap have Yield farming unlike Uniswap	Uniswap doesn't have Yield farming.

Explain the different futures of both.

Features of PancakeSwap

The features of PancakeSwap involves Trade, Liquidity, Farms, Pool, prediction (BETA), lottery, NET and Terms and Profile.

• Trade:
  This is the place that users can perform swapping of their assets.

• Liquidity:
  This feature permit users to provide liquidity.

• Farms:
  This is another very important features that allow users to stake coins that will enable them earn another coins.

• Pool:
  This is the features that user make use of when staking coins.

• Prediction:
  This features is used to predict if the price of asset is going to be bullish or bearish.

• Lottery:
  This features give users access to participate in a lottery and win coins.

• NFT:
  NFT stands for Non Fungible Tokens. Is the features that allow users to get their coins tokenized for the purpose of making it to have value.

• Teams and Profile:
  This features involves the terms and conditions of PancakeSwap and information concerning PancakeSwap.

####Features of Uniswap

Uniswap Features involves Swap, Pool and Vote

• Swap:
  Swap is the features that enable users to swap one coin for another coin.

• Pool:
  This features enable liquidity providers to supply their coin into the liquidity pool and earn reward.

• Vote:
  This features allow users to vote for witnesses that is to help promote the Uniswap. The voting is based on how big a user stake is.

Which one is better and Why? - PancakeSwap or Uniswap

PancakeSwap is better than Uniswap. This is because PancakeSwap have a features compare to unique swap. And also the transaction fees in PancakeSwap is far cheaper than Uniswap, There's also more earnings in PancakeSwap such as Yield farming, prediction, lottery etc than Uniswap. Looking at the earning features alone will tell one that PancakeSwap is than Uniswap.

How to connect PancakeSwap with Metamask

Connecting PancakeSwap with Metamask can be done using the steps below:

Step 1: On the homepage of my Metamask wallet I click on the three dots tab and search for PancakeSwap on the search box.

Step 2: I Click to get to this site

Step 3: On the page of PancakeSwap, I clicked on connect at the top right hand side and select Metamask wallet which is the first on the list.

Step 4: After I have select Metamask, I then click on connect and also the Approve to add a new network on the next page.

Step 5: At this stage my PancakeSwap became connected successfully to Metamask as shown from the screenshots below:

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Thank you all for your time here.......

Best Regards;

@yousafharoonkhan