Steemit Crypto Academy | Season 3: Week 1 || Trust wallet,Binance Smart chain & How to Swap & Stake cake coin on Decentralized Pancake Swap exchange with Trust Wallet || Part 1

Hello everyone my name is James Joseph and I am delighted to make my 3rd intermediate post for the week on this interesting topic presented by @yousafharoonkhan

Question no 1:
What is a Trust Wallet? How to find and install it from google play store to mobile phone? How to create a new wallet on a trusted wallet? Explain the details of each step with the help of a screenshot.

Trust wallet is a Decentralized universal multi-coin and anonymous wallet which enables individuals to buy, receive, send, sell and exchange cryptocurrencies which usually provides an individual with two sets of keys upon registration i.e the public key which can be shared in order to receive crypto and a private key which can be used to access the wallet and recover wallet and in this case of Trustwallet it’s a mnemonic seed or passphrase. Trust wallet was founded in the year 2017 by a crypto enthusiast called Victor Radchenko who later got acquired by the world adding cryptocurrency exchange “BINANCE”

Steps on how to up your Trust wallet in an android phone

• Step one

As an android phone u I am sure most of us navigate Playstore
Go on play store and download the Trustwallet application

• Step 2

After successful installation of the trust wallet app, Open and select a new wallet in that we are creating our new account for the first time as I labeled in the image below

• Step 3

The next page will ask you to read Trustwallets terms and conditions and policies and tick a check box you are done indicating you have read and understood their terms and condition, click continue afterward

• Step 4

This next step requires you to back up your private keys I would recommend copying it and storing it offline as that is where it is safe the most, you would be required to re-enter the code in the order it was given to you again, a way to verify that you have actually stored the key somewhere, cause if you lose your keys you lose access to your wallet

and congratulations its that easy you have successfully created your new Trustwallet account

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Question no 2:
What is Binance Smart Chain (BSC)? How to add its extension application in google chrome? How to create a new wallet on BSC? Explain the details of each step with the help of a screenshot.

Binance Smart Chain (BSC) is a standalone blockchain network that runs in parallel with Binance Chain which was created in April 2020 by Changpeng Zhao the CEO of Binance. Binance smart chain offers a big alternative to the preexisting Ethereum which had heavy gas fee at the time, the BSC offers lower transaction fee and was built with Ethereum Virtual Machine (EVM) which allows its users to run ethereum based apps like TenX, Gnosis, Raiden network e.t.c The Binance smart chain offer smart contract and enables users to build smart contract application and also create decentralized applications (Dapps), BSC offers a better transaction fee option as opposed to the alternative we had before it was launched

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How to create a new wallet on BSC?

I would be teaching you how to add Binance Extension Google Chrome

• Step 1

Go to Binance official website Binance. its homepage looks like this

• Step 2

The next step is to click on the wallet on the homepage a dropdown menu will appear click and select the Binance Wallet Extension option and select

• Step 3

The next step will take you to the chrome web store click on download and it will automatically be added to the list of your extension

-Step 4

Click on the extension button on the top right corner of your chrome and click on the Binance extension it will pop up like this, now seeing that this is our first time creating a BSC wallet select the create new wallet option

• Step 5

In this step, you would be asked to select your preferred method of creating the wallet I would recommend using the seed phrase option as it is safer in my opinion

• Step 6

The next page will require you to enter a strong password for your wallet which has to be 8character with at least one upper case one number and one symbol, for instance, "elepHant123.." and you be required to reenter the password again to ensure you know what you typed in the first place

• Step 7
  On this next page, you will be required to Copy your mnemonic private key as this is what you will use to recover or access your account if lost. I would recommend writing this down on a piece of paper and securing it as this way it cant be hacked....

after this you will be asked to reenter some of your phrase to confirm that you have it backed up somewhere

And congratulations you now have a fully registered BSC wallet

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Question no 3:
How to deposit any BNB (BEP20 )coin from the Binance Exchange to Trust Wallet or Binance Smart chain? How to link the Trust wallet to the binance smart chain?Explain the details of each step with the help of screenshot.( transaction should be confirmed)

How to deposit any BNB (BEP20 )coin from the Binance Exchange to Trust Wallet or Binance Smart chain?

• Step 1
  BNB is binance native token and it has already been added by default to your list of token

• Step 2
  seeing that its BNB i wan to receive i will click on the asset and select recieve

• Step 3
  You will be presented with a QR code and a public address, they serve as an account number specifeid to you, paste on the wallet you want to send from or scan the qr code from the wallet you want to send from and specify the amount you want to send and it will be deposited

• Step 4
  I went on my mobile trust wallet and pasted the address and amount
  

and it reflected on my BSC wallet

How to link the Trust wallet to the binance smart chain?Explain the details of each step with the help of screenshot.

• Step 1
  Click on the three dots as circled in the image below and select the export private key option

• Step 2
  You would be required to enter your BSC wallet password to confirm its really you tring to export the Private Key

• Step 3
  after you must have copied the Private key displayed in the previous page go on your trust wallet homepage click on the setting button on the bottom right corner

• Step 4

Select the multi-coin wallet option

• Step 5

Select the + button on the top right corner

• Step 6

Select the I already have a wallet option in that we are importing our bsc wallet to trust wallet

• Step 7

A list of cryptocurrencies will appear search and select smart chain

• Step 8
  The next page will prompt you with options like mnemonic seed private key choose the private key option and paste the keys you copied earlier from your BSC wallet and select import..

And it's done your wallet has been successfully linked

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Question no 4:
What is PancakeSwap Exchange ? How To Link Pancakeswap exchange with Trust Wallet or Binance Smart exchange? Explain the details of each step with the help of screenshot.

What is pancake swap?
Pancake swap is a decentralized exchange platform that offers its users numerous opportunities like staking, yield farming e.t.c pancake swap is the 3rd largest decentralized exchange platform by volume in the defi aspect of Exchanges and also a close competitor with uniswap, but due to binance smart contract pancake swap is able to offer its users a faster and cheaper transaction fee
Pancake swap was launched in the late 2020s with a fast high rising liquidity which is owned by binance and was developed by anonymous developers which offers a better alternative in terms of liquidity and fees in comparison with Ethereum's uniswap

How To Link Pancakeswap exchange with Trust Wallet ?

• Step 1

open your newly imported BSC wallet on your Trustwallet and select the dapp button as indicated in the image below

• Step 2
  A list of defi and other platforms will appear search and select the pancake swap which looks like this

• Step 3
  If this is your first time you will be prompted easily to connect your pancake swap to your wallet all you have to do is press connect and your are linked
  
  

Question no 5:
How to Swap & Stake cake coin on Decentralized Pancake Swap exchange with Trust Wallet or BSC ? Explain the details of each step with the help of screenshot.( transaction should be confirmed)

How to swap on trustwallet using pancake swap from BNB to cake

• Step 1
  go on your pancake swap on your home page click on the top left corner

• Step 2

Select the trade button an a drop down list will pop down select the exchange option

• Step 3
  it will look something like this
  
  select the amount of BNB you want to swap in exchange for Cake and hit swap
  

Step 4
This next step is for approval
confirm swap
approve network fee

and in no time you cake token would be added to your list of assets

How to stake on Pancake swap

• Step 1
  Go on your pancake swap click on the top right menu button and select pools

• Step 2
  i will be staking on auto cake
  first you need to enable it

• Step 3
  After it has been enabled select stake

and choose the potion you want to stake

Final step approve transaction fee and you are all set

Conclusion

The knowledge of a better alternative to uniswap has made a lot of developers life and work easier, imagine moving assets worth only 50 dollars with a gas fee of almost a 100dollar I mean nobody will want to move assets without proper planning, BSC and pancake swap made all that easier and I hope by following closely the steps I have laid down you will be able to set up your own account.Thank you

My bsc public address
0xc20F8Ab393bBBF8d01be0C4D70EEE034a9450cc7