Review on PancakeSwap by Gürdal Yildiz

Before I talk about Pancakeswap, I think this information is important: There are 2 types of exchanges in the crypto market. The first is the centralized exchange , the second is the decentralized exchange . The central stock market is a profit-oriented stock market that belongs to any company, has paid employees. Examples of such exchanges are; Exchanges such as Binance, Huobi, Bitfinex can be given as examples. Decentralized exchanges, on the other hand, do not pursue any profit, they do not have any companies. By connecting their wallets (trustwallet, metamask...) to these places, users can perform the swap transaction without paying any fee other than the gas fee of the network they are transacting. Examples of this are Pancakeswap, Uniswap, Shibaswap.



Pancakeswap is a decentralized exchange on the BinanceSmartChain network. It has a working principle similar to Uniswap. Users usually use CAKE (Pancakeswap's native token) and BNB here. Users can do many things, for example, they can get the interest of the token they currently hold as Cake, they can earn LP tokens by staking their money in a parity they want. However, I would like to point out that there are risks involved in staking your money here, I suggest you do a good research before staking. I have lost money from the transactions I have done without knowing these things, so you should be careful.

Unlike the Ethereum network, BinanceSmartChain has less transaction fees, so many users prefer it. It has both good and bad things. The fact that it is very easy to issue tokens on BSC brings a lot of projects. The number of fakes among these projects is quite high. This situation causes many uninformed people to lose their money. That's why I lost money too. I recommend you to take this into consideration when using Pancaksewap. I have not seen Pancakeswap and the developers of the BSC network take action against this problem other than a warning and I think this is something that is very important and needs to be changed for the health of Pancakeswap.



Apart from all this, I can say that I love Pancakeswap. But again, this is a risky place for those who don't know anything about the crypto world.