PancakeSwap is one of the most popular products to come out of the BNB Smart Chain. Bitcoin (BTC), is the most popular cryptocurrency in the world of blockchain. So, what happens when you bring the two together?
Can you actually swap BTC on PancakeSwap?
In this article, you’ll learn about:
- Whether you can swap BTC on the BSC, ETH and APT networks on PancakeSwap
BTC and PancakeSwap
You can swap hundreds of cryptocurrencies on PancakeSwap. However, there are some cryptocurrencies that are not supported on PancakeSwap. BTC falls in the second group.
Is that it, then? Is the answer to whether you can swap BTC on PancakeSwap – a simple no?
Well, not exactly.
PancakeSwap supports three major networks whose crypto can be swapped on the platform – if not directly, then with the help of another crypto that is supported on both networks.
These major networks are:
- The BNB Smart Chain network: This is PancakeSwap’s native network which supports most BEP-20 tokens
- The Ethereum network: support is limited to Ether (ETH), Tether USD (USDT), Wrapped BTC (WBTC) and Wrapped Ether (WETH).
- The Aptos network: it supports PancakeSwap (CAKE), seven Celer-based coins, five Wormhole-based coins, Meeiro (MEE), Mojito (MOJO), and Ditto Staked Aptos (stAPT).
While PancakeSwap does not support BTC directly, you can work with the supported versions of BTC available on these networks.
To begin with, let’s see how the BSC network enables BTC swap on PancakeSwap!
Can you swap BTC on the BSC network on PancakeSwap?
The only BTC you can trade on BSC is the Binance-Peg BTC (BTCB).
BTCB is a BEP-20 pegged token. Since it’s backed by BTC reserves and is pegged to BTC’s price, it’s almost as good as using BTC on PancakeSwap.
To buy BTCB, you first need to go to the PancakeSwap website/app.
Once here, you need to hover over the ‘Trade’ button on the top left part of the screen.
This would open up a drop-down menu like the one you can see in the image below.
From this drop-down menu, you need to select the first option – ‘Swap’. Doing so would lead you to the Swap section of the website as can be seen in the image below.
Alternatively, you could just click on ‘Trade’ and you’d be led to the Swap section.
Once here, you need to connect your wallet using either of the two blue buttons saying Connect Wallet.
After connecting your wallet, you’re almost ready to carry out the transaction. However, before you try to swap BTCB, check your wallet to ensure you have enough of it in your wallet to not only convert your tokens but also pay the liquidity provider fee. BNB is used as gas fees to pay for the transaction, so have some BNB ready as well.
To find out the amount of liquidity provider fee you’re expected to pay, simply enter the amount of BTCB you wish to trade. The platform will let you know how many tokens you’d get of the other crypto as well as a few other key pieces of information. You would get to know the price of BTCB in terms of the crypto you’re trading it with and the minimum amount of crypto you’d receive after adjusting for slippage and fee.
Another important number you’d learn is the percentage of the difference in the market price and the price you’re quoted based on the transaction size. You would also learn about the route the platform would take to enable your transaction.
Finally, you’d learn how much liquidity provider fee you’re expected to pay on your transaction. You can, however, do some quick math to find it out before even visiting the website since it’s always 0.25% of your transaction.
All there’s left to do after that is approve the transaction in your wallet and you’re good to go! Note that you would only find out the gas fee once you’re in your wallet and are about to approve the transaction.
Can you swap BTC on the ETH network on PancakeSwap?
Much like the transaction on the BSC network, BTC can be swapped on the ETH network through a pegged token.
But first, you’ll need to step into the ETH network on PancakeSwap. To do that, all you need to do is click on BNB Smart Chain in the top right corner.
You then need to select the second option, Ethereum.
Et voilà! You’re in the Ethereum network now.
Much like you’ve done in the BSC network, you need to hover over ‘Trade’ and select the ‘Swap’ option.
When you try to select a token to swap, you’d notice that there aren’t many options here. Of these, the only one important for now is the Wrapped BTC (WBTC).
Select that and your screen should look something like this:
The rest of it is pretty much the same. You enter a value, connect your wallet and carry out the transaction.
A difference here is that the gas fee is to be paid in ETH. And that’s pretty obvious since you’re in the Ethereum network.
Can you swap BTC on the APT network on PancakeSwap?
To swap BTC on the Aptos network, you must first switch to the Aptos network.
The process is much like switching to the Ethereum network so check the previous section in case of doubt.
The only token we’re interested in on the Aptos network is the Celer – Wrapped BTC (ceWBTC) for our task.
Select it from the list of tokens, connect your wallet, and enter the number of tokens you wish to trade.
Finally, go through with the transaction and we’re done. Similar to our transaction on the Ethereum network, transactions on the Aptos network require APT to be used as the gas fee.
You can swap BTC on PancakeSwap using the BSC, ETH, and APT networks.
You just need to switch to the right network on the platform and have BTC in the right form–BTCB, WBTC, or ceWBTC.
PancakeSwap is one of our partners at Krystal, and we have integrated them in our Swap function to give you the best rates for every swap you make.
Try out our swap platform and get the best bang for your buck!
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