Hello professor @yousafharoonkhan, I am obliged to be part of your lecture about Trust wallet, Metamask, Uniswap & PancakeSwap. I hereby submit my assignment task that you provided to the steemians.

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

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Liquidity is a general term used to describe how easy it is to buy or sell assets at a stable price on a given market, that is, the quicker you can sell off an asset as the closer the possible sales price, the more liquid the exchange market. Therefore, liquidity in pancakeswap refers to users lending their assets to pancakeswap so that other people can trade with the leveraged assets, in turn, generate passive income for lenders, such as tokens and interest from liquidity providers, and provide a way to obtain various rewards. These liquidity pools are usually held in different pairs, for example, BNB/TWT to facilitate trading specific crypto assets without requiring a third party.

Adding liquidity in Pancakeswap.

I will be showing step by step how to add liquidity on Pancakeswap using an IOS device.
Since the DApp browser was removed from the trust wallet for the IOS devices, you will need to connect your wallet manually from your safari browser.

Go to your safari browser and visit the main website of pancakeswap from https://pancakeswap.finance/ then click on connect.

Select wallet connect.

Different wallets will be displayed but in this case, we shall click on Trust wallet since it is where the funds are.

It will immediately detect the installed trust wallet where you will be required to approve the connection.

Thereafter go back to your safari browser from where you browsed pancakeswap and you will see that your wallet address is already connected.

Click on the menu icon in A then click on Trade in B then after click on Liquidity in C.

The liquidity menu will then pop up then you will need to click on add Liquidity.

In this example, I will add BNB/TWT pair into the pool which will require both TWT and BNB smart chain balance. Then type the amount of BNB smart chain balance that you want to add and click on the supply button at the bottom.

Thereafter click on confirm supply.

Since you are using an external browser, you will be prompted to confirm the transaction from your trust wallet.

After your transaction has been confirmed, you will be provided with a transaction receipt just in case you want to make a follow-up on BscScan then press on close.

We have finally succeeded in adding our liquidity.

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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.

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First you will need to install Binance chain wallet chrome extension on your browser then click add to chrome.

Click on add extension.

The extension will be embedded in the top right corner of the page. On clicking on it, you will be required to either create a new wallet or log in to your already existing wallet.

After logging in to your wallet click on the icon in the top right corner.

After a new window will pop up where you will need to click and connect to your Binance account.

You will then be directed to your Binance account from where you will be required to verify and connect the wallet address of binance smart chain.

A disclaimer phrase which you will be required to read will pop up then click on understand.

You will then verify the address owner by clicking on connect wallet.

After clicking on connect wallet, you will get a notification from your binance chain wallet to connect wallet.

A message on your binance account will pop up then click on sign with wallet.

The same message will also pop up on your binance smart chain wallet and you will be required to confirm.

A 2 factor authentication will then pop up from your binance acount for you to verify the connection then click on confirm.

Binance account and binance smart chain wallet has been connected successfully.

Screenshots showing the transfer of BNB to Binance smart chain wallet with the transaction ID 0xab1b63c33c324d94e99b6d17b5f8976db5ab705b58fadcc3886bf4e404efc35c

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What is the difference between Trust Wallet and Metamask and which of them is better and why? Explain in your own words.

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Trust Wallet:

This is a fully decentralized mobile application used to manage tokens and coins and also allows the holder to be in full control of the wallet keys simultaneously. Trust wallet also includes a built-in web 3 browser that allows a crypto holder to explore the depths of the decentralized internet seamlessly and safely.

Metamask wallet:

This is a browser extension that acts as a cryptocurrency wallet connecting to the ethereum blockchain, that is, it enables users to interact with the ethereum ecosystem without downloading the whole blockchain on their device.

I would prefer using Trust Wallet because of the following reasons;

Transaction costs on trust wallet are cheaper compared to that of Metamask.

Trust wallet has an extended functionality of the Dapp browser that is embedded in the application.

Trust wallet is more secure compared to Metamask in a way that a computer that has metamask wallet embedded can easily be compromised.

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What is meant by PancakeSwap and Uniswap?

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PancakeSwap:

PancakeSwap is a decentralized exchange that provides excellent DeFi opportunities such as token swapping, Yield Farming, and numerous forms of liquidity pools. The users have access to lotteries, digital collectibles in form of non-fungible tokens, and launch pads for aspiring developer teams. Not only do they offer cheaper and faster transactions but they also feature various tools and products.

PancakeSwap includes an essential cryptocurrency called Cake which is based on the BEP-20 token standard. The token replica rotates around using cake as a utility cryptocurrency that allows users to participate in lotteries, swap tokens, and purchase NFTs. Its second purpose is staking which distributes syrup as an LP token and in return syrup holders are rewarded by earning 25% of cake emissions as long as they own the token.

Uniswap:

Uniswap was created as a trustless, decentralized financial exchange or DEX, which allows anyone to take part in the financial transactions of ethereum-based tokens, without a central body or a middle man. It aims at giving users sanctionless access to financial services with security and immutability and without the fear of intolerance or counterparty risk thus staying true to the theories of decentralization set out by ethereum.

Uniswap takes over traditional centralized market tools like exchange listings and limit-order books with automated and permissionless liquidity pools executed purely by algorithms the fact that it’s built on the ethereum blockchain, using smart contracts.

Difference between PancakeSwap and UniSwap.

UniSwap uses the original ethereum blockchain to run its network while pancakeSwap uses the Binance Smart Chain to run its network.

Features of Pancakeswap.

Swapping.

Pancakeswap lays the ground for cryptocurrency investors to swap different tokens in form of Swapping which requires a trading fee of 0.2%. Pancakeswap is one of the best places for swapping tokens because many cryptocurrency tokens are not listed on popular exchanges.

Staking.

Pancakeswap enables cryptocurrency investors to stake their cake tokens which is a DeFi activity where an investor lends their crypto for a project and as a result, they earn some passive income in cryptos from the staking pools.

Yield Farming:

PancakeSwap lays grounds for yield farming where an investor lends their crypto to liquidity pools to earn rewards. In yield farming, an investor is required to lend a pair for instance, in the BNB-BUSD liquidity pool, that is, you have to stake both BNB and BUSD in the pool to be eligible.

I choose Pancakeswap because of the low transaction fees that are charged per transaction which is better than the high fees on uniswap. Pancakeswap also gives access to trade numerous different tokens, for example, shitcoins.

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How to connect Pancakeswap with Metamask. Explain this with a screenshot.

First, download and enable the Metamask Chrome extension by visiting https://metamask.io/download.html

After adding the Metamask wallet chrome extension to your browser, you will be prompted to log in to your wallet or create new wallet.

Open a new tap where you will browse https://pancakeswap.finance/ and when the home page pops up, click on connect.

On clicking connect, different wallets will pop up but in this case, we shall click on Metamask wallet.

It will automatically detect the metamask wallet chrome extension where you will be asked to approve the network.

You will then be asked to approve switching the network to Binance Smart Chain.

Finally, metamask wallet gets connected to pancakeswap.

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In conclusion.

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Pancakeswap has got vast opportunities to earn passive income in the cryptocurrency space. Therefor I would like to thank professor @yousafharoonkhan for such an awesome lecture which has broaded my understanding about cryptocurrency wallets.