Blog Crypto How to Buy MCT on PancakeSwap: A Quick Guide

How to Buy MCT on PancakeSwap: A Quick Guide

date April 25, 2022 time 4 min read 32189 views

Few DApps have enjoyed a meteoric rise on the scale of PancakeSwap. It’s now one of the biggest crypto exchanges on the market, with a 24-hour trading volume of $300m. It’s also the dominant decentralized exchange (DEX) on the Binance smart chain—eclipsing Binance’s own DEX.

PancakeSwap is one of the most efficient crypto exchanges with fast transaction times and low fees. Its user experience is also highly rated so it’s no surprise that we’ve chosen Pancake Swap to list our new MCT Token (Listing date to be confirmed).

In this post, we’ll explain more about Pancake Swap and what makes it such an ideal place for us to start. 

Don’t forget you can read more about the MCT token and its benefits in our recent blog post.

What is PancakeSwap?

Since its founding in September 2020, PancakeSwap has gone on an extraordinary growth trajectory, reaching $300m 24-hour trading volume in 18 months. As the number one DApp on Binance, it has certainly caught a lot of attention but what is it?

PancakeSwap is a decentralized exchange developed to facilitate the swapping of BEP-20 tokens. The appeal of PancakeSwap is that it is a fully decentralized exchange where the orders and trades are automatically executed through smart contract., which means that while you can trade digital assets on the platform, there’s not an order book where you are directly matched with someone else. All trading occurs against a liquidity pool.

BEP-20 is a Binance token standard that needs to be followed on the Binance Smart Chain (The BSC is run by Binance). This is an abbreviation that is short for Binance Smart Chain Evolution Proposal. That said, if any other token standard wants to be transferable on PancakeSwap, it needs to be wrapped in the BEP-20 standard for the swap.

How to buy MCT on PancakeSwap

Step 1: Add and select BSC network to your MetaMask wallet.

Select the BSC network and connect it to your MetaMask wallet.

Step 2: Access the PancakeSwap website

PancakeSwap homepage

Go to the PancakeSwap website through the link provided below:

👉 https://pancakeswap.finance/swap

Step 3: Connect your MetaMask wallet

Click on “Connect” at the top-right-end corner. Select “MetaMask” and a pop-up will show. Select the Network you want to choose and click on “Next” and then “Connect”.

Connect MetaMask wallet page

Step 4: MCT Token selection

After connecting your wallet to PancakeSwap, click on “Select a Token” and select the MCT token.

Pay attention—Make sure you are using the right MCT Smart Contract address by checking the address below:

https://bscscan.com/address/0xE43B00b078463cA246D285bE1254767DA0003cC8

Step 5: Transfer Binance Coin (BNB) to your MetaMask wallet.

You’ll need BNB in order to buy (swap) MCT tokens from the available BNB in your wallet. Enter the amount of BNB to swap. Check out how to buy BNB coins in another article.

Step 6: Swap confirmation

Click on “Swap” and a pop-up window will show on the top-right-end corner on MetaMask, confirming the Gas you are going to use. Confirm the default values or increase them if you want the transaction to be faster.

Swap icon

After the transaction is submitted, wait for confirmation.

Congratulations! You have just bought $MCT through PancakeSwap.

Note: You can click View on BscScan to see your transaction details on the explorer

Transaction submitted

FAQ

  • Is there any fee when buying (swap) MCT on Pancake Swap?
    • When you make a token swap or trade on the exchange, you need to pay a 0.25% trading fee
  • Is PancakeSwap safe? Has PancakeSwap been Audited?
  • What’s the best wallet for PancakeSwap?
    • There are a few options, including: Metamask, Coinbase Wallet, Trust Wallet, SafePal, Token Pocket. (More details)
  • Why is my transaction failing?
    • There are some quick troubleshooting errors from Pancake Swap to help customer detect the issue and mapping to the right solution immediately 
  • Why does it say I have no BNB balance?
    • If you’ve already transferred BNB into your BNB Smart Chain-enabled wallet but still have this error, you’re most likely not connected to BNB Smart Chain within your wallet. Check your wallet’s selected network and make sure you have BNB Smart Chain (BSC) selected.
  • What if I can’t find the answer to my question? Where do I find an answer?

If you can’t find what you’re looking for, don’t worry. Ask one of our team on the MyConstant live chat channel and we’ll do our best to assist you.

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George Schooling

George Schooling

Buy MCT token with ease and enjoy the staking rate of up to 12% APR

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