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ICYMI: PancakeSwap now supports limit orders

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Written by   179
3 months ago

One challenge which most users face while using decentralised exchanges is the ability to trade or swap tokens at higher prices without having to constantly open up their Dapp browsers to monitor prices to determine if their desired target has been reached. This can indeed be frustrating because of how prices can fluctuate in the crypto verse.

In order to overcome this challenge users such as myself are often faced with the task of having to transfer assets to centralised exchanges which offer spot trading functionality. This would require though that the amount of token one possesses must have reached the minimum benchmark for being eligible for trading. In Binance for example, this minimum is usually avout 10 USD worth of token. Thus any token less than this value cannot be traded on such centralised exchanges whereas this is not the case with decentralised exchanges where less amount of tokens can be traded or swapped instantly.

To address this issue for users of its trading function for BEP20 tokens on its decentralised exchange, PancakeSwap has now added the limit order function accessible via a new tab on its swap or trade section. To access this function on PancakeSwap.finance navigate to the trade tab and then select the limit order tab which is located after the liquidity tab.

In simple terms

  1. Visit Pancakeswap.finance

  2. Connect your wallet

  3. Click the trade button or tab

  4. Click limit order to choose the token pairs you intend to trade

  5. Set your price

See the Screenshots below :

Navigate to PancakeSwap.finance and connect your wallet

Click the trade tab

Select limit order from the list of trade tabs

As the feature is still new, in using it you can only presently set a price that is above the market price for your trades or swaps. I cannot say if all BEP 20 trading pairs are supported but I think all tokens officially supported by PancakeSwap should be, provided there is sufficient liquidity.

It is certainly hoped that this is just a taste or piece of the cake for things to come in the impressive 2022 road map for Pancakeswap. Lest I forget another IFO is just around the corner. This time the token to be flippened is Duet protocol.

Shukran

Danke

Merci

Gracias

ขอบคุณ

ধন্যবাদ

Спасибо

for reading.

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Avatar for M3i
Written by   179
3 months ago
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