Swapping on BNB Smart Chain with Enkrypt
Looking to swap assets on BNB Chain? Check out our detailed guide for help!
Make your swaps on the BNB network for lower transaction fees
Enkrypt is a multichain, non-custodial, and open-source web3 browser wallet built by the team behind MEW (MyEtherWallet). With Enkrypt, users and developers can generate accounts, manage tokens and NFTs, and interact with DApps on BNB Smart Chain, as well as Substrate and Bitcoin chains. Follow the instructions in this guide in order to swap on BNB Smart Chain!
BNB network is an alternative platform to Ethereum but offers the same EVM compatibility. What does that mean? It works in a similar way to Ethereum, and supports many of the same assets and applications but offers significantly lower transaction fees and higher transaction speed.
Like ETH on Ethereum, BNB network also has a native currency, BNB, that you need to pay for network fees. However, the gas fees are much lower and transactions are faster than on the Ethereum mainnet.
You will need BNB in your wallet, on the BNB network, to trade or make any other transactions.
If you'd like to trade some Ethereum assets you already own on the BNB network with lower fees, first bridge your Ethereum tokens to the BNB network.
To see how to get native BNB for gas, as well as move any tokens you want to trade from Ethereum to the BNB network, follow our bridging guide here.
Swaps on the BNB network work the same way as swaps on Ethereum.
Select the BNB network on the left side menu then select the ‘Swap’ option.
Click the ‘BNB’ dropdown menu to open the token selection menu.
You will see the tokens that are currently in your wallet. Select which token you want to swap.
In this example we’ll be swapping native BNB for CAKE (PancakeSwap).
Click the ‘Select token’ dropdown menu to open the token selection menu.
Select the token you want to receive.
Enter the amount you want to swap then click ‘Preview swap’.
You can view the swap offers from other providers by selecting the ‘other offers’ dropdown menu.
By default the best rate will be selected.
Select ‘Proceed with swap’ once you are satisfied with your exchange rate.
Your swap is now initiated! You can click ‘Finish’ and continue using your wallet. Your tokens will automatically appear in your tokens list when the swap is complete.
You can also click the ‘Activity’ tab at the bottom to view the progress of your swap.
Once the swap is completed, your new tokens will appear in your wallet.
Thank you for checking out our guide on swapping your tokens on BNB Smart Chain with Enkrypt! Don't forget to download Enkrypt for a seamless web3 multichain wallet experience. We would love to hear from you on our social media about any guide suggestions you have for the future. Also, if you enjoy using mobile cryptocurrency wallets, give our MEW Wallet mobile app a try, it's available on both iOS and Android platforms!