How to Sell Tokens on PancakeSwap
Although relatively new, PancakeSwap has quickly become a favorite decentralized cryptocurrency exchange platform to many users. It’s based on the Binance Smart Chain, and its main appeal is that all trades are conducted through smart contracts. One of the frequently used options on PancakeSwap is selling tokens.
If you want to learn how to sell tokens on PancakeSwap, you’ve come to the right place. This article will show you how to sell them using your computer, iPhone, or Android phone.
How to Sell Tokens in PancakeSwap on a PC
Many people prefer using PancakeSwap on their PC due to the larger screen. If you’re one of them, you’ll be happy to know selling tokens isn’t complicated.
The first action you need to take is to connect your wallet to PancakeSwap. Follow the instructions below to do it:
- Open your browser and go to PancakeSwap. Log in to your account.
- Choose “Connect Wallet.”
- Select one of the options depending on the type of wallet you have.
- Open your wallet. You’ll now be able to see all your tokens and cryptocurrencies in one place.
Now that you’ve connected your wallet to PancakeSwap, here’s what you need to do to sell your tokens:
- Select your wallet at the top-right corner.
- Under “From,” select the token you want to sell. If you don’t see it, go to the coin market app, search for the token, copy its address, and paste it to the search bar in PancakeSwap.
- Choose the amount you want to sell.
- Under “To,” select the preferred currency.
- Press “Enable.”
- You’ll now see how much you’ll be charged for transaction fees. Confirm the transaction.
- Press “Swap” and confirm it.
Once the transaction is complete, you’ll receive a receipt and see the change on your account.
How to Sell Tokens in PancakeSwap on an iPhone
iPhone users will be happy to know they can use their mobile devices to sell tokens in PancakeSwap. However, the process isn’t as simple as one would think.
It’s essential to note that PancakeSwap doesn’t have an official iPhone app. Unfortunately, there are many counterfeit applications carrying the same name. If you’ve come across one, it’s best not to download it to your iPhone. In most cases, scammers stand behind such apps.
Since there’s no official app, you’ll need to use an existing crypto wallet and connect it to PancakeSwap internally. Keep in mind the steps vary depending on the wallet you’re using. You can find detailed instructions on the PancakeSwap website.
Once you’ve successfully connected it, you can move on to selling tokens. Here, we’ll show you how to sell tokens in Trust Wallet using PancakeSwap, but you can use a different one:
- Open the Trust Wallet app.
- Tap “Browser” at the bottom and select “PancakeSwap.” The PancakeSwap interface will now appear on your screen.
- Press the three lines icon at the top-left corner and tap “Exchange.”
- In the “From” field, choose the token you wish to sell. If you can’t see the token you’re trying to sell, go to the coin market website or app, find the token, copy its address, and paste it into the field.
- Enter the amount you want to sell.
- In the “To” field, select the cryptocurrency in which you want your token.
- Tap “Approve.”
- Press “Swap,” review the details, and select “Confirm Swap.”
Once the transaction is completed, you can return to the Trust Wallet homepage and double-check if the balance has been updated.
How to Sell Tokens in PancakeSwap on an Android
Many people enjoy trading cryptocurrencies and tokens on their Android phones. Before we show you the steps to sell tokens in PancakeSwap, it’s vital to clarify the service doesn’t have its official Android app.
Unfortunately, many users have been scammed and lost their money by downloading apps posing as PancakeSwap. If you want to avoid this, do not download apps with such a name.
Although there isn’t an official app, PancakeSwap is available on Android phones. To access it, you need to connect it to your wallet. The process isn’t complicated and requires only a few minutes of your time. Since the steps aren’t the same for every wallet, check out the detailed instructions on the PancakeSwap website.
Once you’ve connected your wallet, you can move on to selling tokens. We’ll show you how to sell tokens in PancakeSwap using Trust Wallet, but you can use a different wallet since the process is similar for all of them.
Here’s what you need to do:
- Launch the Trust Wallet app on your Android phone.
- Select the “Browser” icon from the bottom menu.
- Press “PancakeSwap.” You’ll now be redirected to the PancakeSwap interface. If you don’t see the “From” and “To” options on your screen, tap the three lines icon at the bottom-left and choose “Exchange.” Ensure the “Swap” tab is selected at the top.
- On the right of “From,” choose the token you want to sell and enter the desired amount. You can use the “Max” option to sell all of it. If the token you wish to sell doesn’t appear, you’ll need to copy and paste its address from the coin market app or website.
- On the right of “To,” select the preferred cryptocurrency and tap “Approve.”
- Press “Send.” Once it’s approved, select “Swap.” Review the details and tap “Confirm Swap.”
- Choose “Send” once again.
You can now return to your wallet’s homepage, and the transaction will appear at the top.
Is PancakeSwap safe?
Since PancakeSwap was officially established in 2020, some users may consider it too recent and feel skeptical about using it. However, numerous security audits confirm the platform is safe. CertiK, one of the most well known security-focused ranking platforms, gave PancakeSwap a 94 score, which proves its safety.
Plus, PancakeSwap is completely transparent, and all Smart Contracts are verified on BscScan and can be accessed by the public.
Although the platform is completely safe, you can still come across different scams or permanently lose your money. It’s essential to carefully review every action you take on PancakeSwap and not do anything that seems even remotely suspicious.
If you want to use PancakeSwap on your phone, you need to be careful because there is no official phone app. You may see several apps with the same name on the internet, but these are not issued by the developers of PancakeSwap. Such apps could represent a severe security risk and you should avoid installing them.
PancakeSwap is currently one of the most popular and user-friendly platforms for trading tokens and cryptocurrencies. Regardless of whether you’re using PancakeSwap on your computer or mobile phone, you can sell tokens in just a few minutes. Of course, ensure you’ve properly connected the platform to your wallet because otherwise, you could end up losing your tokens.
Do you like using PancakeSwap? What other platforms for selling tokens have you used in the past? Tell us in the comments section below.
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